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Fintech

The FinTech Revolution

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“ India has the highest fintech adoption rate and second-largest fintech start-up based in the world. 1000+ fintech start-ups in India spread across diverse areas such as digital lending, digital payments and wealth management are offering impressive emerging tech-based solutions”~Achyuta Ghosh, Head – Research, NASSCOM  Let us start with a simple question, How many of you like to travel overseas? You go to the airport with money in your pockets to convert them to dollars, pounds, etc., so you go to an exchange bureau, and you feel like crying on the rates you get. Let’s say you are paying 5% transaction cost on a trip abroad which means for every 20 trips you could have got one trip free if there were no charges. You take a trip to the US; you spend money. You have Revol...

#TechFightsCovid: FinTech Disrupts Corona

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“FinTech is not only an enabler but the driving engine”                                                                                                 -Pierre Gramegna While the coronavirus pandemic sweeps the entire world, governments’ response to this international health crisis has worsened the global economy. Substantial lockdowns and social distancing measures are leading to tremendous unemployment spikes and numerous businesses are already seeing conspicuous loss of revenue and struggling to maintain their operations. The shift in the payment habits amidst the covid-19 and post will be fairly visible in coming months. Now the focus is on how human touch or interaction can be done away with digital payments. COVID-19 is trying its best to bring down the FinTech sector: 2019 seemed to...

#FinTech Enablers in Covid-19 – Combating Payment Frauds with 5 Disruptive Technologies

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With a sudden surge in the digital payments in midst of the corona virus fear, the risk of cyber fraud has also amplified. Online payments and other digital methods like UPI, wallets, USSD, etc. are prone to a number of cyber-attacks and are attractive targets for cyber criminals, especially during the ongoing pandemic. According to a recent study, almost 50% Indian consumers are more concerned about digital payments fraud now than when COVID-19 first emerged! Further, 31% of Indian consumers have been recent victims of card or digital payments fraud or know someone among their immediate family or friends who has been impacted through such cyber frauds. Additionally, key digital payment fraudulent concerns of Indian consumers include – fake apps and websites-biggest concern (52%), co...

Covid-19: An Opportune Time for Fintech to Grow

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Did you know that Fintech is one of the fastest-growing sectors? Well yes, it is and as per data from NASSCOM, globally the industry is estimated to soon touch $45 billion with a growth rate of 7.1%. The COVID-19 worldwide crisis is affecting every industry differently, and FinTech is no exception. But, as the world shifts from “respond” to “recover” to “resurrect”, and economies shifts from crisis mode, new opportunities will be created for FinTech. It is an opportune time to think big, be agile and act boldly. The key question though is how FinTech industry will seize the new opportunities post the pandemic using their unique assets and skills. What we are facing are: We are headed towards a Global Recession. There’s an unprecedented rise in the unemployment: Highest since 2010. The Capi...

Emerging technologies transforming the financial sector.

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“Fin-tech is not just a term that describes technological integration with Finance. It is the fuel that is going to decide the race and the winners in the market in the coming times. To drive towards success financial companies need to implement some changes” We can feel the change in how India is adopting the digital platform to transform the businesses that operate today. There has been a disruptive shift in conventional cash flow and all other financial services as Fintech entered the Business Environment. People are now coming forward to accept the change and adopt the latest technology to simplify their financial transactions using various apps such as BHIM, UPI, etc. As predicted by the experts, the Fintech market is likely to expand to $31 Billion by 2020.  Collaboration between ban...

#TechFightsCovid: Top 5 Digital Payment Methods – A Boon Amid Crisis

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The COVID-19 pandemic has indeed affected markets and industries across the globe sparing none. The payments industry is not spared either – but with a pinch of positivity – with digital payments seeing a huge uptick since the covid-19 outbreak. Cash exchange and exchange of physical banknotes and coins is a big threat to the spread of the covid-19 virus and has led to huge public concerns about viral transmission via cash. Even WHO spokesperson has reportedly recommended people to Avoid use of physical banknotes and coins and use digital payments where possible. As a result, the adoption of the digital payment solutions is increasing at a rapid pace. In India, per say, RBI has encouraged people to use digital payment services amidst the covid-19 outbreak. As a result, a recent report foun...

Jio Platforms – Silver Lake Deal Analysis: A Step Closer to Digital Economy 2.0

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US private equity firm Silver Lake announced an investment of USD 747 million (INR 5,655.75 crore) in Jio Platforms for a 1.15% stake on 4th May 2020, striking a deal with Jio less than two weeks after Facebook’s investment into Jio Platforms. The deal values Jio at $65 billion – a 12.5% premium to the value indicated by Facebook. Silver Lake is a globally respected private equity firm with investments in technology companies, both large established firms, as well as, startups, with USD 40 billion in total AUM. Recent investments in E-commerce and financial technology include the Alibaba Group, Fanatics, Inc., Ant Financial, Credit Karma, and Blackhawk Network, among others. The deal comes at a time when Reliance is working to pare down the group’s debts. In the midst of a pand...

Facebook-Reliance Jio Deal Analysis – The Birth of Digital Payments 2.0?

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With more than half a billion internet subscribers, India is one of the largest and fastest-growing markets for online consumers, but adoption of online payments is uneven among businesses, regions, and sectors. India as a digital economy has certainly seen an upswing in the recent few years as a result of demonetization, launch of UPI based online payments, Aadhaar enabled digital payment system, etc., but it has still a long way to go. The recent Facebook-Jio deal can be a huge catalyst in India’s story of digitization with its’ key focus on hyperlocal digital commerce, expanding to tier 2 & 3 cities and even rural areas. Can this be the stepping stone to the birth of Digital Economy 2.0 in India? Let us explore this out: Facebook’s huge investment in Jio Platforms: On April 22, 2020...

#TechFightsCovid: Top Disruptive Fintech Technologies Amid CoVID-19 Crisis

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Gazing through the window of your living room, amidst the corona virus pandemic which has impacted almost every part of the economy, have you ever pondered what can be the next big game changer? Digital-only interactions undoubtedly will be the new standard amidst the CV-19 crisis with almost every institution scurrying to transform digitally to ensure survival. Fintech has the power to totally disrupt the Financial services market, helping the industry with the much-needed, Digital-First and Digital-Only set of solutions in these testing times. Fintech players around the globe are rapidly using AI, digital payment systems, virtual assets, software solutions, and AR, to deliver better crisis management solutions like contact-less banking, Digital-Only customer service and payments, e-KYC a...

Changing Market Trends of Finance Industry : Market Share of Fintech !

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The global Fintech market was valued at about $127.66 billion in 2018, and is expected to grow to $309.98 billion at an annual growth rate of 24.8% through 2022. Growth in the digital payments sector is driving the market for global Financial Technology (Fintech).     Not just this but to check out the fact that as of now we can see that E-Commerce is rapidly increasing across the globe, impacting the FinTech market positively, is finally estimated to grow with a superlative CAGR of 10% to 12% through to 2025. MARKET TRENDS OF FINTECH What industry experts has to say? Jack Ma, the market leader of Alibaba Group observed that 10 times more wallet subscriptions were made and 13 times more average number of transactions daily increased in 2017 as compared to 2015. In March 2019, Cognizant acq...