71% of respondents are preparing for a ‘Disciplined Consolidation’ scenario amid tighter capital and industry consolidation
India’s fintech industry expects rapid AI adoption over the next few years, even as financial returns from current AI investments remain limited, according to PwC India’s latest report, ‘Fit for Future: FinTech 2030’. As many as 84% of respondents said they have yet to see measurable AI-driven results in their financial statements.
Despite this, fintech leaders continue to prioritise AI, with 48% identifying proprietary intelligence as their top strategic bet. Customer experience is expected to be the leading driver of AI agent adoption over the next three to five years, cited by 30% of respondents, followed by cost reduction and productivity gains at 22%.
Rajan Pental, Leader – Financial Services, PwC India, said, “Fintech leaders clearly want to believe in an enabling capital environment and rapid AI adoption, but very few are confident enough in that outcome to bet their business on it. Instead, they are preparing for consolidation, tighter capital and tougher governance. That is our survey’s clearest signal about how the industry is actually thinking about the next four years.”
The survey also reveals a gap between expectations and preparedness. While 74% expect an enabling capital and regulatory climate by 2030, 71% are building for ‘Disciplined Consolidation’, marked by tighter capital and stronger governance.
Vivek Belgavi, Partner and Leader – Financial Services Advisory, PwC India, said, “India’s fintech story over the last decade was built on formalisation, digital onboarding, distribution at scale and growth capital. The next decade will run on a different playbook: programmable digital infrastructure, proprietary intelligence, orchestration over distribution, and trust built by design. The winners will not simply be those who scale fastest, but those who build the most resilient and differentiated institutions.”
The report also identifies trust, fraud, AI accountability and embedded lending as key themes shaping fintech’s next phase.
