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ACCEPT THE UPDATED PRIVACY & COOKIE POLICY Dear user, ET BFSI privacy and cookie policy has been updated to align with the new data regulations in European Union. Please review and accept these changes below to continue using the website. You can see our privacy policy & our cookie policy. We use cookies to ensure the best experience for you on our website. If you choose to ignore this message, we'll assume that you are happy to receive all cookies on ET BFSI. * Analytics * Necessary * Newsletter NameProviderExpiryTypePurpose Google AnalyticsGoogle1 YearHTTPSTo track visitors to the site, their origin & behaviour.iBeat AnalyticsIbeat1 YearHTTPSTo track article's statisticsGrowthRx AnalyticsGrowthRx1 YearHTTPSTo track visitors to the site and their behaviour NameProviderExpiryTypePurpose optoutTimes Internet1 YearHTTPSStores the user's cookie consent state for the current domainPHPSESSIDTimes Internet1 dayHTTPSStores user's preferencesaccessCodeTimes Internet2.5 HoursHTTPSTo serve content relevant to a regionpfuuidTimes Internet1 YearHTTPSUniquely identify each userOSTIDTimes Internet1 YearHTTPSOauth secure tokenOSSOIDTimes Internet1 YearHTTPSOauth user identifierOSTPID Times Internet1 YearHTTPSused to sync accross portalsfpidTimes Internet1 YearHTTPSBrowser Fingerprinting to uniquely identify client browsers NamePurpose Daily NewsletterReceive daily list of important newsPromo MailersReceive information about events, industry, etc. I've read & accepted the terms and conditions NEWS SITES * Auto News * Retail News * Health News * Telecom News * Energy News * CIO News * Real Estate News * Brand Equity * CFO News * IT Security News * Government News * Hospitality News * HR News * Legal News * ET TravelWorld News * Infra News * B2B News * CIOSEA News * HRSEA News * HRME News Upcoming Event: CFO Meet & discussion on Revised Companies Act Sign in/Sign up * Follow us: * * * * * * * ETBFSI Exclusive * BANKING * INSURANCE * InsurTech * NBFC * FINTECH * Payments * Digital Lending * RegTech * Open API * BFSI Videos * Editor's View * Brand Solutions * ETBFSI AWARDS 2022 * GLOBAL INSURANCE BROKERS PVT. LTD * ETBFSI.COM CONVERGE Thriving in the world of digital * ETBFSI CXO CONCLAVE Connecting Financial Institutions Digitally * LAY THE GROUNDWORK TO ACCELERATE BANKING INNOVATION * ETBFSI FINNEXT SUMMIT The Future of NBFCs and FinTechs * SIDBI-ET MSMES/STARTUPS Roudtable Discussion * REIMAGINE NEXT * LEARNFEST * REIMAGINE NEXT - THE FUTURE OF LEARNING * ETBFSI.COM CONVERGE BFSI: The world of Hyper-personalization * ETBFSI EXCELLENCE AWARDS 2021 AWARDS FOR EXCELLENCE IN INNOVATION * FUTURE READY SECURITY FOR DIGITAL-FIRST BFSI * 3RD EDITION OF ETBFSI CXO CONCLAVE Unlocking the BFSI Potential * THE DIGITAL NEXT: SERIES 2.1 Live Virtual Summit * JOIN THE ECONOMIC TIMES FINANCIAL INCLUSION SUMMIT 2021 * 2ND EDITION OF ETBFSI VIRTUAL SUMMIT 2021 * ET BANKING LEADERSHIP SERIES PRESENTED BY MANIPAL ACADEMY * Millennial Finance * FinTech Diary * ETBFSI Research * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * BFSI Tech Tales * Innovation Masters * POLICY * FINANCIAL SERVICES x * BFSI News * Latest BFSI News * Fintech EXCLUSIVE NO-CODE REVOLUTION WILL HELP FINTECHS ADOPT TECH EASILY AND HYPERSCALE : RAZORPAY CBO How can the no-code revolution help FinTechs scale? How can technology help FinTechs face the key challenges in the sector? In this week's FinTech Diary, Rahul Kothari, CBO, Razorpay discusses these alongwith sharing Razorpay's business model, future targets and insights on latest trends and developments in the FinTech space. Here's a snippet : * Amol Dethe * ETBFSI * Updated: December 01, 2022, 11:52 IST * * * * * * * * With the rapid shift towards digitalisation, Indian FinTechs have changed the face of BFSI Industry and the country has emerged as one of the fastest growing FinTech hotspots in recent years. Paperless lending, mobile wallets, digital payment gateways, neobanking among others tech-infused concepts are aggressively being adopted in India. Rahul Kothari, Chief Business Officer, Razorpay in an interaction with Amol Dethe, Editor, ETBFSI highlighted some of the key issues that most of Indian FinTechs are facing today, as well as, suggested solutions to tackle it. "The problem that most of the FinTechs are trying to solve is how to give access to new-age technologies, new-age convenience, new-age effectiveness to businesses which are beyond the top million businesses in the country. To give the benefit of technology at scale, one has to make the adoption of all these technologies to all these businesses. That is the fundamental problem one needs to solve," he said. He highlighted how these businesses don't have a technology know-how to integrate these products into their business workflows. "If the technology adoption can happen without using a code, without requiring a software engineer, then we can make the adoption very easily and even companies can hyperscale. A no-code revolution will help FinTechs adopt tech easily and hyperscale," he asserted. Commenting on Razorpay's current business status, Rahul said that their business has reached a sustainable stage now and that their all three business have reached fairly printable revenues. He also added that Razorpay, at the moment is not looking for any fundraise or acquisitions as the company has already made many acquisitions in the past and would now like to focus more on integrating these acquisitions in the company at large. Recently, Razorpay won 'Startup of the Year' award in ET Startup Awards 2022 and during an interaction with ET, founders Harshil Mathur and Shashank Kumar revealed that the company is looking to go public in the next two to three years. They also added that they're not looking for fundraise anymore as they continue to grow revenue by 100 percent annually. Watch our latest FinTech Diary with Rahul Kothari, where he speaks on the company's growth trajectory and offerings, 'no-code' revolution — the new buzz word and solution for FinTechs to scale their businesses, company's future targets and much more. Follow and connect with us on Twitter, Facebook, Linkedin, Youtube Fintech razorpay fintechs rahul kothari indian fintechs bfsi industry amol dethe technology fintech diary finance Read on App Read on App PEOPLE WHO READ THIS ALSO READ * How retail CBDC will help bolster India's payment system, complement UPI * Funding slowdown, automation: Ten trends likely in the payments segment in 2023 * Sensing major opportunity, NBFCs step-in to provide short-term working capital loans for hospitals * 300 predatory loan apps targeting customers in India, other countries found on Google Play, Apple App store SUBSCRIBE TO OUR NEWSLETTER 50000+ Industry Leaders read it everyday I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. FINTECH * 2 hrs ago HOW UPI BUSINESS MAKES MONEY, WHAT PROFIT MARGIN DO THEY HAVE? * 2 hrs ago HOW UPI BUSINESS MAKES MONEY, WHAT PROFIT MARGIN DO THEY HAVE? * 20 hrs ago RBI RAPS BANKS FOR GIVING UP UPI SPACE TO FINTECHS * 1 day ago PAYTM MANAGEMENT ISSUES UPBEAT GUIDANCE View More EDITOR'S PICK * 2 hrs ago HOW UPI BUSINESS MAKES MONEY, WHAT PROFIT MARGIN DO THEY HAVE? * 2 hrs ago CONSISTENCY OF SERVICE, MAINTAINING TRUST CAN HELP BANKS THRIVE IN THE WORLD OF DIGITAL: BANKERS * 2 hrs ago HOW UPI BUSINESS MAKES MONEY, WHAT PROFIT MARGIN DO THEY HAVE? * 2 hrs ago WAKE-UP CALL: POST DELHI AIIMS CYBER ATTACK, EXPERTS REITERATE IMPORTANCE OF CYBER INSURANCE * 15 hrs ago THE FINTECH SECTOR SEES CRYPTOCURRENCY CURRENCIES AS A MEANS OF ESTABLISHING A SECURE AND TRACEABLE WAY OF TRANSFERRING ASSETS. BFSI VIDEOS * ‘TRANSITIONING FROM LEGACY TO DIGITAL SYSTEM, NOT A CHALLENGE FOR BANKS’: IBA CHIEF Sunil Mehta, CEO, Indian Banks' Association sharing his expert commentary on several buzzing industry topics at the 3rd Edition of the 2 day ETBFSI Converge 2022. * 5 days ago BANKS NEED 360 DEGREE MIGRATION FROM ONE TECH TO OTHER, NOT IN PIECEMEAL: ED, BOM * 6 days ago FINTECH DIARY WITH ASHISH KASHYAP, FOUNDER AND CEO, INDMONEY * 16 days ago FINTECH DIARY WITH SURJENDU KUILA, CO-FOUNDER & CEO, ZOPPER. View More EXCLUSIVE INDIAN FINTECH MARKET TO RECORD ‘10 TIMES’ GROWTH; ACHIEVE $1TN IN AUM, $200BN IN REVENUE BY 2030 India is now being recognized as one of the largest FinTech unicorn ecosystems, home to 21 FinTech Unicorns as of March 2022. * ETBFSI Click Here to Read This Story * * * * * * * * Indian Fintech market is expected to record a 10 times growth to achieve $1Tn in Assets Under Management (AUM) and $200Bn in revenue, said the report titled ‘$1 Tn India FinTech Opportunity'. The report released by Chiratae Ventures in collaboration with Ernest and Young (EY), highlighted that much of the growth will be driven by the digital lending market, which is expected to grow to $515 Bn in book size by 2030. The market is expected to reach $1Tn in AUM with contribution from lending to be highest at 50%+, while from a revenue standpoint payments and lending make 75%+ of the pool, the report highlighted. India is now being recognized as one of the largest FinTech unicorn ecosystems, home to 21 FinTech Unicorns as of March 2022. An organic and collaborative ecosystem is driving this growth, which is being supported by key government initiatives, such as Digital India, Smart City, the development of UPI, and other initiatives. Payments, Digital Lending, WealthTech, InsurTech, and Neo-banking will all be contributing to growth in the FinTech space with Agri+FinTech and Prop+FinTech considered to be big bets. Tailwinds due to favorable demographics, growing technology adoption, higher disposable incomes, and aware customer are further fuelling this growth. Fintechs have been innovating in product and delivery to cater to the evolving needs of the customers. The report also highlights that Buy Now Pay Later has become mainstream and is on an accelerated growth trajectory, emerging strong not only in B2C but also in the B2B payments space. On the launch of the report Sudhir Sethi, Founder, and Chairperson, Chiratae Ventures said, “The Indian Fintech market has been a formidable global force, contributing to the largest share of unicorns in India. We have been a technology-first investor believing in the power of both data and technology and hence have backed companies such as EarlySalary, Kristal.ai, PB Fintech, ShopSe, and Vayana amongst others” Co-lending to emerge as a preferred model that supports lending partners in mitigating their risk exposure. New asset classes, Crypto & NFT will also continue to attract investor interest as fintech continues to solve for traditionally underserved customers. Technology-based Innovation on the underwriting side of the insurance value chain will help deliver solutions for the highly unpenetrated market at affordable rates. “FinTechs have innovated for the underserved financial markets through a strong and supportive ecosystem, which will continue to keep accelerating growth and penetration of Fintech in India. These include fast-growing digital adoption and mobile penetration on the back of the cheapest data rates in the world offered by private telecom players, to enabling regulatory environment coupled with world-leading digital infrastructure (Aadhar, UPI, BBPS etc.), and structural reforms and initiatives (GST, TReDSetc.),” said TC Meenakshi Sundaram, Co-Founder and Vice Chairperson, Chiratae Ventures. “We also expect FinTechs to continue solving for the substantial and growing sub-markets with novel solutions,” he added. With 5X growth in the digital tech talent, India has the opportunity to address the global digital skill gap and establish itself as the destination of digital and tech talent. “India is recognized as a strong FinTech hub globally and is increasingly becoming a talent destination for fintech businesses. We are glad to partner with Chiratae Ventures and delve into the emerging trends in regulatory innovation, technology advancements, new business models, industry convergence, and inclusive digital financial services in the Indian fintech space,” said Rajiv Memani, Chairman and Managing Partner, EY India. The report also highlighted that the regulatory support will enable the industry further as already established models go international through collaborations. The actively encouraging innovation through regulatory sandboxes, new distribution models, and the launch of innovative products has provided a good regulatory environment. Follow and connect with us on Twitter, Facebook, Linkedin, Youtube Fintech wealthtech fintech unicorns digital lending digital india chiratae ventures Read on App Read on App * Industry News * Auto News * Retail News * Health News * Telecom News * Energy News * CIO News * Real Estate News * Brand Equity * CFO News * IT Security News * Government News * Hospitality News * HR News * Legal News * ET TravelWorld News * Infra News * B2B News * CIOSEA News * HRSEA News * HRME News * CONTACT US ADVERTISE WITH US We have various options to advertise with us including Events, Advertorials, Banners, Mailers, Webinars etc. Please contact us to know more details. * SIGN UP FOR ETBFSI NEWSLETTER Get ETBFSI's top stories every morning in your email inbox. 50000+ Industry Leaders read it everyday I have read Privacy Policy and Terms & Conditions and agree to receive newsletters and other communications on this email ID. * FOLLOW US @ETBFSI Follow @ETBFSI for the latest news, insider access to events and more. * * * * * * About Us * Contact Us * Advertise with us * Newsletter * RSS Feeds * Embed ETBFSI.com Widgets on your Website * Privacy Policy * Terms & Conditions * Guest-Post Guidelines * Sitemap Copyright © 2022 ETBFSI.com. 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