As the world was swept by the pandemic, it was no wonder that BFSI industry was able to stand strong in the foundation of tech and rapidly enabled itself to turn digital. According to a report by Allied Market Research, the global digital transformation in BFSI market size is expected to reach $164.08 billion by 2027, growing at a CAGR of 15.4% from 2020 to 2027.

Some of the evolution highlights in the BFSI includes continued focus to meet the regulatory compliance requirements, consumerisation demands, personalisation, operational efficiencies, facilitating the coherence through platforms. The industry is altering business models and adopting latest technologies such as intelligent automation, Lowcode platforms, cloud computing and AI/ML.