India is home to the world’s biggest FinTech market with UPI becoming the backbone of our daily financial interactions. More than 330 million Indians use Unified Payment Interface every day and over 40 percent of all financial transactions done in India are digital. India has recorded a 59 percent surge in total funding received by the Indian FinTech sector in Q1 2024 compared to the preceding quarter of 2023, an unparallel rise in the industry. To celebrate India's prowess in the world of financial technology, the Republic Business Emerging Tech Awards 2024 (RBETA 2024) is going to underline the nation's remarkable rise as a global FinTech superpower. . . Tapan Sharma | Sanjeev Choudhary | Anuj Kakar | Amit Tayde | Sharmila Bhowmick | Shruthi Murali | Roshni Yadav | Shashikant Khandait | Republic Digital | Republic Business | RBETA | Anirudh Trivedi | Rajat Mishra . . . #DigitalIndia #TechEmpowerment #ConnectivityForAll #RBETA #RBETA2024 #DigitalTransformation #TechForAllWelcome #technology #Technologyawards | #Republic | #RepublicTV | #RepublicLIVE
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India is home to the world’s biggest FinTech market with UPI becoming the backbone of our daily financial interactions. More than 330 million Indians use Unified Payment Interface every day and over 40 percent of all financial transactions done in India are digital. India has recorded a 59 percent surge in total funding received by the Indian FinTech sector in Q1 2024 compared to the preceding quarter of 2023, an unparallel rise in the industry. To celebrate India's prowess in the world of financial technology, the Republic Business Emerging Tech Awards 2024 (RBETA 2024) is going to underline the nation's remarkable rise as a global FinTech superpower. . . Tapan Sharma | Sanjeev Choudhary | Anuj Kakar | Amit Tayde | Sharmila Bhowmick | Shruthi Murali | Roshni Yadav | Shashikant Khandait | Republic Digital | Republic Business | RBETA | Anirudh Trivedi | Rajat Mishra . . . #DigitalIndia #TechEmpowerment #ConnectivityForAll #RBETA #RBETA2024 #DigitalTransformation #TechForAllWelcome #technology #Technologyawards | #Republic | #RepublicTV | #RepublicLIVE
RBETA 2024 FinTech: RBETA 2024 celebrates India’s rise as world’s FinTech superpower - Republic World
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India is home to the world’s biggest FinTech market with UPI becoming the backbone of our daily financial interactions. More than 330 million Indians use Unified Payment Interface every day and over 40 per cent of all financial transactions done in India are digital. India has recorded a 59 per cent surge in total funding received by the Indian FinTech sector in Q1 2024 compared to the preceding quarter of 2023, an unparallel rise in the industry. To celebrate India's prowess in the world of financial technology, the Republic Business Emerging Tech Awards 2024 (RBETA 2024) is going to underline the nation's remarkable rise as a global FinTech superpower. Tapan Sharma | Sanjeev Choudhary | Anuj Kakar | Amit Tayde | Sharmila Bhowmick | Shruthi Murali | Roshni Y. | Shashikant Khandait | Republic World | RBETA | Anirudh Trivedi | Rajat Mishra . . . #DigitalIndia #TechEmpowerment #ConnectivityForAll #RBETA #RBETA2024 #DigitalTransformation #TechForAllWelcome #technology #Technologyawards
RBETA 2024 FinTech: RBETA 2024 celebrates India’s rise as world’s FinTech superpower - Republic World
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India is home to the world’s biggest FinTech market with UPI becoming the backbone of our daily financial interactions. More than 330 million Indians use Unified Payment Interface every day and over 40 per cent of all financial transactions done in India are digital. India has recorded a 59 per cent surge in total funding received by the Indian FinTech sector in Q1 2024 compared to the preceding quarter of 2023, an unparallel rise in the industry. To celebrate India's prowess in the world of financial technology, the Republic Business Emerging Tech Awards 2024 (RBETA 2024) is going to underline the nation's remarkable rise as a global FinTech superpower. Tapan Sharma | Sanjeev Choudhary | Anuj Kakar | Amit Tayde | Sharmila Bhowmick | Shruthi Murali | Roshni Y. | Shashikant Khandait | Republic World | RBETA | Anirudh Trivedi | Rajat Mishra . . . #DigitalIndia #TechEmpowerment #ConnectivityForAll #RBETA #RBETA2024 #DigitalTransformation #TechForAllWelcome #technology #Technologyawards
RBETA 2024 FinTech: RBETA 2024 celebrates India’s rise as world’s FinTech superpower - Republic World
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India's digital boom is powered by innovation, and fintech is at the forefront! Our latest article explores how full-stack fintech solutions are empowering businesses and transforming financial services for millions. We dive into the "Fintech Pyramid of Needs" and the benefits of a unified approach, along with a glimpse into the exciting future of Indian fintech. What are your thoughts on the role of fintech in India's digital economy? Join the conversation and share your insights in the comments below! Read the full article here: https://lnkd.in/gjTtbREA #Fintech #India #DigitalPayments #Fullstack #Finance #FutureofFinTech #AI #growth
Full-Stack Fintech: Powering India's Digital Boom 🔥 India's digital economy thrives, with fintech at its core. By 2030, the market is expected to reach a staggering $2.1 trillion, transforming financial services for millions. This article explores full-stack fintech solutions and their role in empowering India's digital businesses. The Fintech Pyramid of Needs ✅ Movement of Money: The foundation is the ability to make and receive digital payments. Full-stack solutions provide support for various methods, bank integrations, and recurring/non-recurring payment options. Advancements like SoftPoS (Software Point of Sale) enable offline payments. ✅ Reliability and Timeliness: Up-time and transaction success rates are crucial. A robust fintech stack minimizes lost revenue due to payment failures. ✅ Security: Fraud detection and risk management safeguard businesses. KYC and verification protocols ensure transaction legitimacy. ✅ Data-Driven Insights: Businesses need tools to understand payment flows. Full-stack solutions offer data repositories and dynamic discount engines for financial strategy optimization. Full-Stack Benefits✨ 🤝 Efficiency: Integration within a single platform streamlines operations, saving businesses time and resources. 🤝 Enhanced Customer Experience: Frictionless payment processing translates to a smoother customer experience,fostering higher conversion rates. 🤝 Improved Security and Control: Consolidated data management reduces breach risk and empowers businesses with greater control. The Future of Indian Fintech🇮🇳🔮 As India chases a $5 trillion economy, fintech is a game-changer. Here's a look ahead: 💻 AI-powered Solutions: Generative AI will personalize financial services and user interfaces in regional languages. 💻 Voice-Activated Technology: Advancements can expedite KYC processes, but regulations need to adapt to counter deepfakes. 💻 Evolving Regulatory Landscape: The RBI's proactive approach fosters innovation with initiatives like card tokenization and digital lending guidelines. 💻 Data Governance: A centralized data storage platform proposed by the RBI is crucial for data privacy and security. 💻 Tailored SROs: The RBI's move to establish SROs for specific segments demonstrates a commitment to effective regulatory oversight. Conclusion 🙂↕️ India's booming fintech sector is fueled by smartphone penetration, affordable data, and a young, tech-savvy population. Full-stack solutions offer businesses a roadmap to success in the digital payments landscape. As the industry embraces AI, collaboration between stakeholders will be key to ensuring a secure, inclusive, and dynamic future for Indian fintech. #FinTech #India #FullStack #FutureofFintech #BNS #BitBNS #BNSIndia #Cryptocurrency #Cryptosahihai #Doyourbit (Image Source: india-briefing.com)
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India is witnessing a remarkable growth in the Fintech sector, driven by the rapid adoption of digital technologies, supportive policies, and increasing consumer demand. According to a recent report, India's Fintech market size was $31 billion in 2021, making it the third largest in the world, behind the US and China. The report also projected that the Fintech sector would grow at a compound annual growth rate of 22% and reach $150 billion by 2025. Some of the key segments that are contributing to the Fintech boom in India are payments, digital lending, insurtech, wealthtech, and blockchain. The payments segment, in particular, has seen a phenomenal rise in volume and value, thanks to the widespread adoption of Unified Payments Interface (UPI), which accounted for 46% of all real-time transactions worldwide in 2022. The digital lending segment has also witnessed a surge in demand, especially from the segments such as MSMEs and individuals, who can access credit easily and conveniently through online platforms. The insurtech segment is expected to grow by 15x to reach $88.4 billion by 2030, as more consumers opt for customized and affordable insurance products. The wealthtech segment is also gaining traction, as more retail investors enter the market and seek digital solutions for managing their wealth. The blockchain segment is emerging as a promising area for innovation and collaboration, as various stakeholders explore its potential applications in areas such as remittances, trade finance, and identity management. The Fintech sector in India is also attracting significant investments from domestic and foreign players, who are keen to tap into the huge market opportunity and leverage the talent pool and infrastructure available in the country. India has more than 2,100 Fintech startups as of 2021, with several of them achieving unicorn status. The Fintech funding in India reached $10 billion (approx) from 2014 to 2022, with major deals happening in segments such as payments, lending, neobanking and insurance. The future of Fintech in India looks bright and promising, as the sector continues to innovate and evolve to meet the changing needs and expectations of the consumers and businesses. India has the potential to become a global leader in Fintech, as it leverages its strengths in technology, policy and market size. I am excited to be a part of this journey and witness the transformation that Fintech is bringing to the financial services industry in India. #fintech #fintechrevolution #india #growth
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Full-Stack Fintech: Powering India's Digital Boom 🔥 India's digital economy thrives, with fintech at its core. By 2030, the market is expected to reach a staggering $2.1 trillion, transforming financial services for millions. This article explores full-stack fintech solutions and their role in empowering India's digital businesses. The Fintech Pyramid of Needs ✅ Movement of Money: The foundation is the ability to make and receive digital payments. Full-stack solutions provide support for various methods, bank integrations, and recurring/non-recurring payment options. Advancements like SoftPoS (Software Point of Sale) enable offline payments. ✅ Reliability and Timeliness: Up-time and transaction success rates are crucial. A robust fintech stack minimizes lost revenue due to payment failures. ✅ Security: Fraud detection and risk management safeguard businesses. KYC and verification protocols ensure transaction legitimacy. ✅ Data-Driven Insights: Businesses need tools to understand payment flows. Full-stack solutions offer data repositories and dynamic discount engines for financial strategy optimization. Full-Stack Benefits✨ 🤝 Efficiency: Integration within a single platform streamlines operations, saving businesses time and resources. 🤝 Enhanced Customer Experience: Frictionless payment processing translates to a smoother customer experience,fostering higher conversion rates. 🤝 Improved Security and Control: Consolidated data management reduces breach risk and empowers businesses with greater control. The Future of Indian Fintech🇮🇳🔮 As India chases a $5 trillion economy, fintech is a game-changer. Here's a look ahead: 💻 AI-powered Solutions: Generative AI will personalize financial services and user interfaces in regional languages. 💻 Voice-Activated Technology: Advancements can expedite KYC processes, but regulations need to adapt to counter deepfakes. 💻 Evolving Regulatory Landscape: The RBI's proactive approach fosters innovation with initiatives like card tokenization and digital lending guidelines. 💻 Data Governance: A centralized data storage platform proposed by the RBI is crucial for data privacy and security. 💻 Tailored SROs: The RBI's move to establish SROs for specific segments demonstrates a commitment to effective regulatory oversight. Conclusion 🙂↕️ India's booming fintech sector is fueled by smartphone penetration, affordable data, and a young, tech-savvy population. Full-stack solutions offer businesses a roadmap to success in the digital payments landscape. As the industry embraces AI, collaboration between stakeholders will be key to ensuring a secure, inclusive, and dynamic future for Indian fintech. #FinTech #India #FullStack #FutureofFintech #BNS #BitBNS #BNSIndia #Cryptocurrency #Cryptosahihai #Doyourbit (Image Source: india-briefing.com)
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Senior SAP Finance Control Consultant bei ISAP Solutions FZE. Blockchain | Wallet | NFT | DeFi | Metaverse |
🇮🇳 Setting up of Fintech Repository 🏆 Shri. Shaktikanta Das ( RBI) on Friday (December 8) announced setting up of a fintech repository by April 2024 🚀 Financial entities like banks and NBFCs in India are increasingly partnering with Fintechs. For a better understanding of developments in the Fintech ecosystem and to support this sector, it is proposed to set-up a Fintech Repository. This will be operationalized by the Reserve Bank Innovation Hub in April 2024 or earlier. FinTechs would be encouraged to provide relevant information voluntarily to this Repository. 🔔 Currently, India has 23 fintech unicorns and 34 fintech soonicorns – with a combined valuation of $74 Bn+ and $12.7 Bn+ respectively. 🔔 700+ Indian fintech startups have raised a whopping $27 Bn across 1.4K+ deals since 2014. 🔔 Out of all the subsectors, #Lendingtech emerged as the most funded fintech sub-sector in Q2 2023 — bagging $584 Mn across 15 deals. 🌍 Indian fintech has made rapid strides in the past few years – largely on the back of rising smartphone, internet penetration and the advent of #UPI. These fintech startups build on top of the services of existing financial institutions, offering users ease of access and convenience from the comfort of their homes. This has spawned the rise of startups such as #Paytm and #Fino Payments Bank that have gone public – while #PhonePe has acquired decacorn ($10 Bn+) valuation. With 23 fintech unicorns, the fintech sector has emerged as an attractive investment proposition for global and domestic investors. 🎯 Bottomline - $2.1 Tn+ Estimated Fintech Market Opportunity By 2030 ; The fintech market in India stands at a whopping $584 Bn. And going forward, the space is expected to grow at a CAGR of 18% to $2.1 Tn by 2030 🎯 It will be interesting to see how the fintech repository will categorize and index these Fintehs and Help in thr journey of Fintech Adption for Banks.
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🇮🇳 Setting up of Fintech Repository 🏆 Shri. Shaktikanta Das ( RBI) on Friday (December 8) announced setting up of a fintech repository by April 2024 🚀 Financial entities like banks and NBFCs in India are increasingly partnering with Fintechs. For a better understanding of developments in the Fintech ecosystem and to support this sector, it is proposed to set-up a Fintech Repository. This will be operationalized by the Reserve Bank Innovation Hub in April 2024 or earlier. FinTechs would be encouraged to provide relevant information voluntarily to this Repository. 🔔 Currently, India has 23 fintech unicorns and 34 fintech soonicorns – with a combined valuation of $74 Bn+ and $12.7 Bn+ respectively. 🔔 700+ Indian fintech startups have raised a whopping $27 Bn across 1.4K+ deals since 2014. 🔔 Out of all the subsectors, #Lendingtech emerged as the most funded fintech sub-sector in Q2 2023 — bagging $584 Mn across 15 deals. 🌍 Indian fintech has made rapid strides in the past few years – largely on the back of rising smartphone, internet penetration and the advent of #UPI. These fintech startups build on top of the services of existing financial institutions, offering users ease of access and convenience from the comfort of their homes. This has spawned the rise of startups such as #Paytm and #Fino Payments Bank that have gone public – while #PhonePe has acquired decacorn ($10 Bn+) valuation. With 23 fintech unicorns, the fintech sector has emerged as an attractive investment proposition for global and domestic investors. 🎯 Bottomline - $2.1 Tn+ Estimated Fintech Market Opportunity By 2030 ; The fintech market in India stands at a whopping $584 Bn. And going forward, the space is expected to grow at a CAGR of 18% to $2.1 Tn by 2030 🎯 It will be interesting to see how the fintech repository will categorize and index these Fintehs and Help in thr journey of Fintech Adption for Banks.
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Disaggregated Value chain in banking/finance. A model for smaller banks?
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🇮🇳 Setting up of Fintech Repository 🏆 Shri. Shaktikanta Das ( RBI) on Friday (December 8) announced setting up of a fintech repository by April 2024 🚀 Financial entities like banks and NBFCs in India are increasingly partnering with Fintechs. For a better understanding of developments in the Fintech ecosystem and to support this sector, it is proposed to set-up a Fintech Repository. This will be operationalized by the Reserve Bank Innovation Hub in April 2024 or earlier. FinTechs would be encouraged to provide relevant information voluntarily to this Repository. 🔔 Currently, India has 23 fintech unicorns and 34 fintech soonicorns – with a combined valuation of $74 Bn+ and $12.7 Bn+ respectively. 🔔 700+ Indian fintech startups have raised a whopping $27 Bn across 1.4K+ deals since 2014. 🔔 Out of all the subsectors, #Lendingtech emerged as the most funded fintech sub-sector in Q2 2023 — bagging $584 Mn across 15 deals. 🌍 Indian fintech has made rapid strides in the past few years – largely on the back of rising smartphone, internet penetration and the advent of #UPI. These fintech startups build on top of the services of existing financial institutions, offering users ease of access and convenience from the comfort of their homes. This has spawned the rise of startups such as #Paytm and #Fino Payments Bank that have gone public – while #PhonePe has acquired decacorn ($10 Bn+) valuation. With 23 fintech unicorns, the fintech sector has emerged as an attractive investment proposition for global and domestic investors. 🎯 Bottomline - $2.1 Tn+ Estimated Fintech Market Opportunity By 2030 ; The fintech market in India stands at a whopping $584 Bn. And going forward, the space is expected to grow at a CAGR of 18% to $2.1 Tn by 2030 🎯 It will be interesting to see how the fintech repository will categorize and index these Fintehs and Help in thr journey of Fintech Adption for Banks.
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"PhonePe users will be able to make payments to UAE in foreign currency directly from their Indian bank accounts" "India’s Unified Payments Interface (UPI) and Singapore’s leading payments platform PayNow are integrated. This linkage enabled real-time funds transfer between users of both countries." Total value of UPI Transactions has risen to about $3.6 Bn and 350 mn+ users are transacting online and with this Fintech market is also poised to grow. With 22 Fintech unicorns in India, the total addressable market for fintech in India is expected to reach $2.1 Tn by 2030 And Fintech has always been one of the major recipients of investments in the Indian startup ecosystem; From 2014, 19% of the total funding received by Indian startups is raised by Fintechs - that's a a whopping $141 bn 🤯 However, there is a decreasing sentiment towards fintech deals in 2023 Deals globally dropped from $63.2 billion across 2,885 deals in H2’22 (Jun'22 to Dec'22) to $52.4 billion across 2,153 deals in H1’23 (Jan'23 to June'23) And as reports suggest there's an increasing focus on operational efficiency, sustainable cash flows, and profitability — both from investors and from fintechs. The Fintechs are even looking to delay their next funding rounds to achieve the desired results. 🤔 And as we are heading towards the last few quarters of 2023, it's imperative for us to discuss how to balance sustainable profits and growth. Here in Bangalore, the Fintech Hub of India, Headstart Karnataka is organising an exclusive Fintech event to discuss the balance in the panel led by Industry stalwarts Deena Jacob, CFO & Co-Founder at Open Financial Technologies, Rahul, Co-Founder & CTO at MyShubhLife Moderated by Tanul Mishra, CEO at Afthonia Lab Pvt Ltd Date: 5th August, Saturday Time: 3:30 PM Venue: Open office at Bellandur, Bangalore 𝗔𝗽𝗽𝗹𝘆 𝗡𝗼𝘄, link in the comment section below What do you think about the current Fintech markets? Do you think it's saturated? Ritik | Thanmayee | Ujjwal | Sanjana | Gautham | Aarzoo | Kiran | Akhilesh | Chinmayi| Madhavi| Azhar | Shweta| Sonal | Nikhil | Divvya | Kiran | Manoj| Akhil| Snigdha | Arjun| Gourav | Sai | Eashita | #Fintech #StartupSaturday #profits #sustainablegrowth #founders #startups
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🇮🇳 Setting up of Fintech Repository 🏆 Shri. Shaktikanta Das ( RBI) on Friday (December 8) announced setting up of a fintech repository by April 2024 🚀 Financial entities like banks and NBFCs in India are increasingly partnering with Fintechs. For a better understanding of developments in the Fintech ecosystem and to support this sector, it is proposed to set-up a Fintech Repository. This will be operationalized by the Reserve Bank Innovation Hub in April 2024 or earlier. FinTechs would be encouraged to provide relevant information voluntarily to this Repository. 🔔 Currently, India has 23 fintech unicorns and 34 fintech soonicorns – with a combined valuation of $74 Bn+ and $12.7 Bn+ respectively. 🔔 700+ Indian fintech startups have raised a whopping $27 Bn across 1.4K+ deals since 2014. 🔔 Out of all the subsectors, #Lendingtech emerged as the most funded fintech sub-sector in Q2 2023 — bagging $584 Mn across 15 deals. 🌍 Indian fintech has made rapid strides in the past few years – largely on the back of rising smartphone, internet penetration and the advent of #UPI. These fintech startups build on top of the services of existing financial institutions, offering users ease of access and convenience from the comfort of their homes. This has spawned the rise of startups such as #Paytm and #Fino Payments Bank that have gone public – while #PhonePe has acquired decacorn ($10 Bn+) valuation. With 23 fintech unicorns, the fintech sector has emerged as an attractive investment proposition for global and domestic investors. 🎯 Bottomline - $2.1 Tn+ Estimated Fintech Market Opportunity By 2030 ; The fintech market in India stands at a whopping $584 Bn. And going forward, the space is expected to grow at a CAGR of 18% to $2.1 Tn by 2030 🎯 It will be interesting to see how the fintech repository will categorize and index these Fintehs and Help in thr journey of Fintech Adption for Banks.
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