10-Layer BFSI Sector Classification – From Industry to End Product

Layer 1: Major Sectors Layer 2: Sub-Sectors Layer 3: Categories Layer 4: Sub-Categories Layer 5: Specific Segments Layer 6: Technologies & Tools Layer 7: Service/Platform Layer 8: Application Areas Layer 9: End Users Layer 10: End Products/Solutions
1. Banking Retail Banking Consumer Banking Personal Accounts Checking, Savings, Credit Cards Core Banking Systems, Mobile Banking Apps Mobile Banking Platforms, Online Portals Personal Finance Management Individuals, Households Mobile Banking Apps, Credit Score Reports
Wealth Management Investment Services Brokerage, Portfolio Management Trading Platforms, Robo-Advisors Investment Platforms Wealth Planning, Retirement Planning High-Net-Worth Individuals, Retail Investors Investment Portfolios, Retirement Plans
Commercial Banking SME Banking Loans & Credit Term Loans, Lines of Credit Credit Scoring Models, Loan Origination Systems Lending Platforms Business Expansion, Working Capital Small and Medium Enterprises Business Loans, Credit Lines India
Corporate Banking Treasury Management Cash Management, Trade Finance Treasury Management Systems, SWIFT Payment Gateways, Trade Finance Platforms Global Trade, Corporate Finance Large Corporations, Multinational Companies Payment Processing Systems, Trade Finance Solutions Preferred vertical FINTECH Insurtech Digit insurance $250M Financial investors
2. Financial Services Investment Banking M&A Advisory Deal Structuring Mergers, Acquisitions, Divestitures Financial Modeling Software, Due Diligence Tools Advisory Services Corporate Restructuring, Capital Raising Corporations, Private Equity Firms M&A Transactions, IPOs Feb2025 $2.5B Insurance dekho $80M Financial investors
Asset Management Mutual Funds Equity Funds, Bond Funds Portfolio Management Systems, Risk Management Tools Investment Funds Retirement Savings, Wealth Accumulation Retail Investors, Institutional Investors Mutual Fund Investments, ETF Portfolios PB tech $15M
Private Equity Venture Capital Seed Funding, Growth Equity Valuation Models, Deal Sourcing Platforms Investment Funds Startup Funding, Business Growth Startups, High-Growth Companies Equity Investments, Venture Capital Funding Turtlemint's Series E Funding $120 million Financial investors
3. Insurance Life Insurance Term Life Death Benefit Term Life Policies Actuarial Software, Underwriting Systems Insurance Platforms Family Protection, Estate Planning Individuals, Families Life Insurance Policies RenewBuy's Series D Funding $45 million Financial investors
Whole Life Cash Value Whole Life Policies CRM Systems, Policy Administration Systems Insurance Portals Long-Term Savings, Retirement Income Individuals, High-Net-Worth Individuals Whole Life Insurance Policies Toffee Insurance's Series A Funding $5.5 million Financial investors
Property & Casualty Insurance Auto Insurance Collision Coverage Auto Insurance Policies Claims Management Systems, Telematics Insurance Aggregators Vehicle Protection, Accident Coverage Vehicle Owners Auto Insurance Policies Coverfox's Series C Funding $22 million Financial investors
Home Insurance Property Protection Home Insurance Policies Risk Assessment Tools, Geospatial Data Online Insurance Marketplaces Property Protection, Disaster Recovery Homeowners Home Insurance Policies Aegon Life's Digital Transformation Investment $35 million Financial investors
4. Fintech Payments Digital Wallets Mobile Payments Contactless Payments Payment Gateways, Encryption Technologies Mobile Payment Platforms Retail Transactions, Online Shopping Consumers, Merchants Mobile Wallets, Payment Apps Symbo's Series A Funding $9.4 million Financial investors
Cryptocurrency Bitcoin Blockchain Technology Crypto Exchanges, Blockchain Explorers Crypto Trading Platforms Investment, Decentralized Finance Investors, Traders Cryptocurrency Wallets, Crypto Investments
Lending Peer-to-Peer Lending Online Loans Personal Loans, Business Loans Credit Scoring Algorithms, Loan Management Systems P2P Lending Platforms Personal Finance, Business Funding Borrowers, Investors P2P Loans, Crowdfunding CAGR 55.40% Insurtech Startups 150
Online Mortgage Home Loans Fixed-Rate Mortgages, Adjustable-Rate Mortgages Mortgage Origination Systems, Property Valuation Tools Online Mortgage Platforms Home Purchase, Refinancing Homebuyers Mortgage Loans 2023 (Revenue) $368.5 mn (includes unicorns , minicorns, soonicorns) 10,45,10 (respectively)
Investments Robo-Advisors Automated Investing Portfolio Management Algorithmic Trading, Machine Learning Investment Platforms Retirement Planning, Wealth Management Investors Automated Investment Portfolios 2030 (Projected) $8047.9 mn
Trading Platforms Stock Trading Online Brokerage Trading Algorithms, Market Data APIs Online Trading Platforms Active Investing, Day Trading Traders Stock Trades
Blockchain DeFi Decentralized Finance Applications Lending, Borrowing, Trading Smart Contracts, Blockchain Networks DeFi Platforms Financial Inclusion, Crypto Finance Crypto Users DeFi Protocols
NFTs Digital Collectibles Art, Music, Virtual Assets Blockchain Marketplaces, Digital Wallets NFT Platforms Digital Ownership, Content Creation Collectors, Artists NFT Tokens
5. Regulatory & Compliance RegTech KYC/AML Identity Verification Customer Due Diligence Biometric Authentication, Data Analytics Compliance Platforms Fraud Prevention, Regulatory Reporting Financial Institutions KYC/AML Solutions BFSI Digital Banking Zeta $250M Financial Investor
Cybersecurity Data Protection Threat Detection Encryption Technologies, Firewalls Security Platforms Data Security, Risk Management Financial Institutions Cybersecurity Tools global market $25.58Bn Niyo $100M Financial investor and strategic buyer
6. Financial Infrastructure Payment Networks Card Networks Credit Card Processing Visa, Mastercard Payment Gateways, POS Systems Payment Processing Networks Retail Transactions, Online Payments Merchants, Consumers Credit Card Payments expected (2030) $164.7Bn Fi $50M Financial investor
Banking as a Service (BaaS) Open APIs Embedded Finance API Platforms, Cloud Infrastructure BaaS Platforms Embedded Finance, Fintech Innovation Fintechs, Banks BaaS APIs CAGR 11.3% to 20% Shriram Housing Finance 4630Cr Financial investor
7. Data & Analytics Credit Scoring Alternative Data Credit Risk Assessment Machine Learning, AI Data Aggregators, Credit Bureaus Credit Scoring Platforms Loan Origination, Risk Management Lenders Credit Scores Svatantra Microfin 1930Cr Financial investor
Fraud Detection Anomaly Detection Transaction Monitoring Machine Learning, AI Fraud Detection Platforms Fraud Prevention, Risk Management Financial Institutions Fraud Alerts Fibe 750Cr Financial investor
8. Financial Education Financial Literacy Platforms Educational Content Personal Finance Management Online Courses, Workshops Learning Management Systems, Financial Planning Tools Educational Platforms Financial Planning, Investment Education Consumers Financial Education Courses Perfios Software 663Cr Financial investor
Investment Advisory Services Personalized Advice Portfolio Management Financial Planning Tools, Robo-Advisors Advisory Platforms Retirement Planning, Wealth Management Investors Investment Advice IDfy 223Cr Financial investor
9. Real Estate & Property Tech PropTech Online Mortgage Platforms Home Loans Online Application Software & Tech PropTech platforms Home Buying Home Buyers, Banks Mortgage Approval Mswipe Technologies 165Cr Financial investor
Property Investment Platforms Real Estate Investment Online Investment Portals Software & Tech Investment Platforms Real Estate Investment Investors Property Purchase Grip Invest 83Cr Financial investor
10. Emerging Tech InsurTech Automated Claims Processing Claims Adjudication AI & Machine Learning Automation Tech Insurance Platforms Insurance Claims Customers, Insurance Companies Automated Claims Razor Pay 1200Cr Financial investor
AI in Finance Algorithmic Trading High Frequency Trading AI & Machine Learning Investment platforms Investment & Trading Investors, Banks Investment Recommendations Phone Pe 1000Cr Financial investor
11. AIF Crowdfunding Platforms Real Estate Crowdfunding Commercial Properties Multi-Family Homes, Office Spaces Online Investment Portals, Due Diligence Tools Investment Platforms Real Estate Investment, Passive Income Retail Investors, Accredited Investors Fractional Ownership, Real Estate Investments Cred 300Cr Financial investor
Peer-to-Peer Lending Platforms Business Loans SME Lending Term Loans, Working Capital Loans Credit Scoring Algorithms, Loan Management Systems P2P Lending Platforms Business Funding, SME Growth Borrowers (SMEs), Investors P2P Loans, Crowdfunding Upstox 250Cr Financial investor
Art Investment Platforms Fine Art Blue-Chip Art Paintings, Sculptures Blockchain Marketplaces, Digital Wallets NFT Platforms Digital Ownership, Content Creation Collectors, Artists NFT Tokens
12. AIP Crowdfunding Platforms Real Estate Crowdfunding Commercial Properties Multi-Family Homes, Office Spaces Online Investment Portals, Due Diligence Tools Investment Platforms Real Estate Investment, Passive Income Retail Investors, Accredited Investors Fractional Ownership, Real Estate Investments
Peer-to-Peer Lending Platforms Business Loans SME Lending Term Loans, Working Capital Loans Credit Scoring Algorithms, Loan Management Systems P2P Lending Platforms Business Funding, SME Growth Borrowers (SMEs), Investors P2P Loans, Crowdfunding
Art Investment Platforms Fine Art Blue-Chip Art Paintings, Sculptures Blockchain Marketplaces, Digital Wallets NFT Platforms Digital Ownership, Content Creation Collectors, Artists NFT Tokens