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We have updated our terms and conditions and privacy policy Click "Continue" to accept and continue with ET BFSI 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 * 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 * BFSI Tech Tales * Green Finance * IBC * ETBFSI Explains * BFSI Movement * More * Blogs * Innovation Masters * POLICY * FINANCIAL SERVICES x * BFSI News * Latest BFSI News * Fintech EXCLUSIVE ‘THREE-LEGGED RACE, NOT RELAY’: FINTECH EXPERTS ON FUTURE OF INDUSTRY With regulators on one side trying to align FinTechs, investors becoming very cautious, and BFSI companies developing their own innovation hubs, the underlying question that remains, ‘Is the Final Countdown has begun?, Where will the FinTechs go? What waits for them ahead? Is collaboration the way forward? Let’s see what FinTech experts have to say: * ETBFSI * September 19, 2022, 14:57 IST * * * * * * * * While the FinTech industry has seen robust growth over the years, the regulator recently has been aggressively focusing on the sector on policy side and investments have seen a major drop. FinTech experts highlight the way ahead for FinTechs, the change in model they should adopt and share their views on RBI's policy changes on this sector. "FinTechs should be on a three legged race, not a relay. It is the collaboration that is needed," said Anand Kumar Bajaj, Founder, MD and CEO, PayNearby, speaking at the ETBFSI CXO Conclave. Anand along with Abhishant Pant, Founder, The FinTech Meetup spoke at the panel discussion on 'FinTechs - The Final Countdown' where they both decoded the current scenario and future of FinTechs going ahead, especially after RBI coming up with norms and guidelines for this specific sector. Highlighting on the need of collaboration amongst FinTechs, Abhishant said that four phases of Bharat economy exist simultaneously — Switzerland, Singapore, Eastern Europe and Africa, and their needs and challenges are different and it needs to be addressed differently. "Our solution needs are different so we need a collaborative model to address different challenges of different segments," he said. The RBI has recently been aggressive on the policy side and brought about many changes for FinTechs. While the motive has been positive and to protect consumer interest, many FinTechs have brought a change in their working models post the policy announcements. Abhishant said that the regulator should not be bothered that FinTechs will survive or not, and instead, they should be bothered more about consumer viewpoint. "Regulator's message for FinTechs is that — If you have a scooter license then drive that, don't try to fly airplanes," added Anand. The FinTech leaders have stressed on the need for collaboration going ahead, shared their views on RBI's policy changes and also said how optimistic they were of the growth journey of FinTechs ahead. Follow and connect with us on Twitter, Facebook, Linkedin, Youtube Fintech anand kumar bajaj abhishant pant The FinTech Meetup RBI policy RBI ETBFSI CXO Conclave Economy Read on App Read on App PEOPLE WHO READ THIS ALSO READ * FLDG consultations complete, intention not to stifle any activity: RBI governor * RBI’s three key launches at GFF to revolutionise digital payments * India's FinTech ecosystem emerges as formidable global force; Paytechs outshine * Explained: What is UPI-linked Rupay Credit Card and how will it work? 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 DIGITAL BANKING INFRASTRUCTURE PROVIDER SIGNZY RAISE RS 210 CRORE IN FUNDING LED BY GAJA CAPITAL * 2 hrs ago PAYMENT PLATFORMS ROLL-UP SLEEVES AHEAD OF RBI’S TOKENIZATION DEADLINE * 1 day ago BANKRUPT CRYPTO LENDER VOYAGER'S CFO TO EXIT MONTHS AFTER APPOINTMENT * 2 days ago FLOURISH VENTURE SEES OPPORTUNITIES IN EMBEDDED FINANCE FINTECH PLATFORMS FOR KIRANA STORES View More EDITOR'S PICK * 1 hr ago IBA SETS UP LARGE WORKING GROUP FOR SUSTAINABLE FINANCE * 2 hrs ago PAYMENT PLATFORMS ROLL-UP SLEEVES AHEAD OF RBI’S TOKENIZATION DEADLINE * 2 hrs ago HOW UPI LITE WILL HELP REDUCE THE LOAD ON BANK SYSTEMS * 1 day ago FOSTERING DIGITAL LITERACY IN RURAL INDIA * 1 day ago GOLD: IS IT BETTER AS AN INFLATION HEDGE OR AS A WAY TO HEDGE AGAINST EQUITY RISK IN YOUR PORTFOLIO? BFSI VIDEOS * ETBFSI FINTECH DIARY WITH SASHANK RISHYASRINGA, CO-FOUNDER AND MD, AXIO (FORMERLY CAPITAL FLOAT) Catch the latest episode of ETBFSI FinTech Diary with Sashank Rishyasringa, Co-Founder and MD, axio (formerly Capital Float). * 32 days ago FINTECH DIARY WITH DEEKSHA KAUSHAL, DIRECTOR, FINANCIAL SERVICES & BANKING PARTNERSHIPS, GPAY INDIA * 61 days ago FINTECH DIARY WITH SHACHINDRA NATH, VICE CHAIRMAN AND MANAGING DIRECTOR, U GRO CAPITAL * 70 days ago CREDIT GROWTH PICKING UP ACROSS ALL SECTORS; NO DAMPER IN CASE OF RATE HIKES: SHANTI LAL JAIN 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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