BOOK REVIEW

AAYUSH MUNDHRA

2327001

Fintech For Billions: Simple | Human | Ubiquitous

As someone deeply interested in how technology can impact development, I recently

finished "FinTech for Billions: Simple, Human, Ubiquitous" by Bhagwan Chowdhry
and Anas Ahmed. This book is an eye-opener, it dives into the world of financial
technology (fintech) in India, but with a refreshing focus on financial inclusion –
basically, making sure everyone has access to financial services.
The authors challenge the idea that simply having a bank account and a phone
translates to true financial inclusion. They back this up with real stories from their
travels across India. They meet people in villages who struggle to navigate complex
apps or simply don't trust the digital world. Chowdhry and Ahmed argue that many
existing fintech solutions miss the mark because they're not "simple, human, and
ubiquitous" – easy to understand, designed with people in mind, and readily
available everywhere.

This is where the book gets really interesting. The authors propose practical
solutions based on their research. They talk about leveraging local networks, like
microfinance institutions with human agents, and even exploring offline options for
those wary of the digital world. It's not just about the tech; it's about understanding
the human aspect of financial inclusion.

Now, this book isn't a tech manual. If you're looking for a deep dive into the nitty-
gritty of blockchain or coding, you might be disappointed. The focus here is on the
social impact which is why it makes it so compelling, especially for students. It shows
how fintech can be a powerful tool for development, particularly when it prioritizes
the needs of the underbanked population.

"FinTech for Billions" isn't without its limitations. Some of the proposed solutions felt
a little idealistic, and one would like to see more discussion on potential challenges
with implementation. However, it definitely sparks curiosity and makes one realize
the immense potential of fintech for good.

Overall, this book is a good read for anyone interested in financial inclusion,
development studies, or even just the future of finance in India. It's well-written,
engaging, and sheds light on a critical issue in a way that's both informative and
inspiring.