Top 6 Trends in the Financial Services Industry in India

Coins. Shells. Salt. Leather. Pebbles.

What do all these strange items have in common? At some point in history, they were used as currency during various economic deals. Since then, the financial world has undergone a myriad of changes and advancements. 

Paper notes. Credit cards. Cashless transactions. Cryptocurrency. These are some of the major financial trends of the 21st century. 

Change is a constant force in this field. You get used to certain trends, only to relearn everything you know about money and finance. There are new developments that are altering the financial landscape once again. The meteoric rise of tech-based services has affected the finance world as well. So stay with us as we explore the latest trends in financial services, poised to transform the future of finance. 

The advantages of working in finance:

  • Offers some of the highest salaries in the corporate world. 
  • Entry-level jobs also receive more pay than other professions. 
  • Provides diverse career profiles in this industry eg. Investment banking, corporate finance, retail banking, equity research, financial planning, etc. 
  • There is a huge scope for growth as the finance industry offers lucrative opportunities in India and abroad. 
  • A long and stable career is assured as finance jobs continue to thrive and not get automated. 
  • A finance career provides immense job satisfaction for those who enjoy working with numbers, statistics and data.

6 financial trends that are currently rocking the industry

Financial trend #1 ESG investments 

Does it make sense to invest in environment-friendly and social projects? 

As one of the more controversial trends in financial services, ESG investments have had many experts questioning their viability and profitability. However, there is a strong demand for companies to go ‘green’. All over the world, consumers have called for ethical products and services with a positive impact on the ecological system. This has led financial advisors to push for ESG investments for their clients and companies. The CFA Institute also offers an ESG certificate in investing. They realise the value of this trend and how it can lead to sustainable profitability.

Financial trend #2 AI and automation 

Artificial intelligence is taking over the world. Finance included. There are so many possibilities to explore here. First of all, AI frameworks can help you make informed trading decisions and look for interesting investment opportunities. Then there are conversational AI tools, that ensures that customers receive personalised and friendly interactions as though they are chatting with a friend. 

Automation ensures all banks are immediately made aware when a fraud is taking place and stops the transaction. Processes are made more efficient. Unnecessary tasks are eliminated. And financial services get a highly efficient and advanced upgrade. There isn’t a financial business across this planet that doesn’t stand to gain from adopting automation into their operations. And as technology evolves, so will the potential applications from it. With such exciting ventures on the horizon, it’s no surprise that automation and AI are the leading financial trends of the decade.

Also Read – How to build a career in finance industry

Financial trend #3 IFRS 

The financial industry is fast becoming a global village. International companies conduct cross-border transactions, mergers are occurring daily and conglomerates continue to extend their reach worldwide. It is not unusual to have clients or coworkers who speak another language or live in another country. It helps to be an expert in the universal accounting standards, also known as the IFRS. These are internationally approved set of codes, practices and regulations which make it easier for multinational corporations to carry out their businesses seamlessly. All M&A deals, financial statements and reports are filed with transparency and clarity. 

Companies in India are slowly coming on board. Many have already adopted international accounting practices, making it one of the most popular financial trends in 2023. 

Financial trend #4 Payment apps 

Earlier generations may remember what it was like to feel each pocket to find spare change for a cab fare. Some could also recollect checking the folds of a wallet to look for the full amount owed to a delivery man. Now, you only need to locate your mobile phone. As one of India’s most successful trends in financial services, payment apps have radically changed the way we pay for goods and services. Google Pay, Paytm, PhonePe and Amazon Pay are very familiar apps to almost everyone reading this post. They have become such an intrinsic part of our lives, it is hard to imagine a time without them. They can lead to further exciting possibilities in finance. 

Financial trend #5 Financial analytics

Every time someone logs into net banking, makes an online transaction or sends in a customer complaint, you get a front-row seat to valuable data. Around the world, millions of people use online services for their banking and financial needs. That is a goldmine of information just waiting to be tapped. Financial analytics cleverly uses this data to improve productivity, performance, and best of all, profits. Through careful scrutiny, analysis and recording, you can optimise a company’s operations. Not surprising that financial analytics is emerging as one of the most important trends in financial services

Financial trend #6 Mergers and acquisitions

Disney bought 21st Century Fox. 

Zomato bought BlinkIt.

Adani Group bought NDTV. 

Oracle bought Cerner. 

Tata Group bought Air India. 

PVR bought INOX. 

The list goes on. In the past ten years, over 500,000 mergers and acquisition deals have taken place. It is nothing new. Companies have been buying each other out since the industrial revolution. M&A deals are one of the most popular financial trends that never go out of style. This makes being an M&A analyst an excellent career choice that is future-compliant. 

Also Read – Top 5 Trending Finance Courses In 2023

Let’s have a look at some more trends in the Financial Services Industry

Financial trend #7 Hyper-personalisation

What is the biggest secret towards achieving customer loyalty? By adding personal touches to the overall experience. How do we take it up a notch? With hyper-personalisation. When your clients open a banking app, file a customer service request or look for investment opportunities, you need to get into their minds and offer products and services tailor-made to their requirements. AI technology and financial analytics help us to speak fluently with customers, using words and tonality that appeals best to them. It is easy to see why hyper-personalisation is one of the hottest financial trends now. 

Financial trend #8 Cloud-computing

We have generated a massive load of financial data. So where do we put it? As data starts to add up, companies and banks need a more feasible model for storage. Most data is quite sensitive as it deals with personal banking and investment details. So a trustworthy and highly secure data storage solution is the order of the day. Cloud-Computing is fast catching on as one of the biggest trends in financial services

And not just because of the storage options. It also helps to detect fraud, reduce storage costs, maintain customer relationships and secure all vital and sensitive data behind heavily guarded measures. 

Financial trend #9 Blockchain technology 

Wouldn’t it be wonderful if there was a way to streamline all financial services, reduce operational risks, verify the authenticity of data, and allow safe currency transfer in one complete system? Blockchain technology is fast becoming one of the most rewarding trends in financial services due to its various tools and techniques that make business transactions occur efficiently and effectively. 


  • 7.7 billion people own smartphones and can download personal finance apps.
  • 6 out of 10 people prefer apps to websites for banking and finance needs.
  • 74 billion UPI payments were made in the first half of 2022.

Proschool’s professional courses for financial services 

Financial services are part of a very volatile and unpredictable industry. If you want to make it in this field, you need all the support you can get. IMS Proschool is one of India’s best coaching institutes, offering a range of certifications such as CFA, IFRS, CFP and financial modelling. The teaching staff are visionary experts who help students understand the intricacies and nuances of the financial industry. They simplify complex concepts, offer real-world examples and use active learning techniques to educate and inspire students. Here are a few more reasons why you should apply:

  • You have the option of attending classroom sessions near you or learning online. 
  • Proschool offers multiple resources such as learning videos, mock tests, prep books and practice papers.
  • The in-house placement portal can help you get hired after the course. 
  • Proschool’s teaching goes beyond the traditional textbook, as they also help students with interview etiquette and resume writing skills. 

Also Read – IMS Proschool Reviews and Testimonies Reveal a Happy Reality


How will a CFA course help me in my career in financial services? 

CFA is a globally recognised certification that offers in-depth training in a range of topics, such as portfolio management, investment banking, advisory services, wealth management and equity research. The program helps students build a strong foundation in industry knowledge and skills so that they are ready to work in many leading financial companies, banks and MNCs. 

How are CFA and CFP different from each other?

The CFA course teaches students how to work in companies that handle institutional investments. On completion, you can work in various sectors such as mutual funds, investment banking, research analysis and derivatives. 

The CFP course helps students become personal advisors or financial planners who work one-on-one with high-profile clients. CFP holders are experts in estate planning, retirement planning, taxation and portfolio management. 

Is wealth management the same as portfolio management? 

Portfolio management deals with managing the diverse assets of an individual to help them achieve pre-set financial goals. 

Wealth management works with an individual or organisation to create a holistic financial plan that includes portfolio planning, retirement planning and taxation. It also factors in long-term and short-term financial goals. 

How can Proschool help me with my financial career?

Proschool offers several financial courses taught by industry experts with considerable experience in their respective fields. World-renowned programs such as CFA, CFP, IFRS and financial modelling are taught using active learning methods and practical training techniques. The courses also come with NSE and NSDC certifications. Once you are certified, Proschool will help you find jobs on their placement portal. 

In conclusion

If there is one thing you can always count on in the financial industry, it is their unique ability to adapt to the latest innovation. The above nine trends in financial services are only the tip of the iceberg. As a future financial specialist, you must stay on the cutting edge of technology. Most successful professionals are life-long learners. They never run out of a healthy desire to know more. They are also backed by strong education qualifications that have taught them well. Some financial trends come and go, while others stick around for a long time. If you are a savvy, well-trained financial expert, you will understand how to stay on top of your game.