Fintechs benefitting from lethargy of legacy institutions: Rajnish

Fintechs benefitting from lethargy of legacy institutions: Rajnish

• By Staff Writer

BharatPe Chairman Rajnish Kumar said fintech startups are benefitting from "lethargy of legacy institutions" and are "rewriting many processes and rules". "There's a certain amount of lethargy because of [banks'] size...their legacy processes. That's what is leading to fintechs' growth," Kumar said. "[Fintechs and banks] are going to exist. They'll compete...which is not a bad thing," he added