2nd
Largest in the Indian Economy
Tamil Nadu possesses a storied heritage in the financial services industry, dating back to 1682 with the establishment of the first bank in the state, The Madras Bank. Recognized as the 'SaaS capital of India,' Tamil Nadu is now poised to transition into a global FinTech hub.
Largest in the Indian Economy
Top 500 Financial Institutions, worldwide
FinTech Startups
Tamil Nadu is well-positioned to leverage the high FinTech adoption rate in India, which stands at an impressive 87%, the highest globally.
The state can capitalise on the substantial growth potential, as reflected in the 37% CAGR in digital payments transactions from FY19-21.
The FinTech market in Tamil Nadu is expected to experience significant growth, with a projected CAGR of 24.57% by 2025.