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FACE and CFI launch fintech lending risk barometer

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To systematically identify and assess the risks in the fintech industry, Fintech Association for Consumer Empowerment (FACE) and Center for Financial Inclusion (CFI) has launched what they claim is India’s first Fintech Lending Risk Barometer. This risk barometer study aims to create a systematic baseline of emerging risks and is part of a market monitoring exercise to understand how risks change and how stakeholders perceive these risks as the Indian fintech lending sector evolves.
The insights are from a survey conducted amongst 40 industry stakeholder lenders and non-lenders, including think tanks, consumer associations, and investors. Some of the key trends in the Fintech Lending Risk Barometer include:
The ‘biggest risk’
Survey participants, regardless of their role in the fintech lending ecosystem, identified unlawful fintech lenders as the foremost risk. Such illegal lenders or lending apps harm consumers with unethical practices and create reputational and other risks for the regulated fintech lending industry. Cyber fraud was ranked No. 2 when it came to risk to the fintech…

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