Digital Era Boom for Fintech Companies

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Presentation transcript:

Digital Era Boom for Fintech Companies Nitesh Kukreja, Senior Consultant Capgemini

Abstract A Study on Boom for Fintech Companies in Today's Digital Era

Global Snapshot on Digital Usage 9% 68% 89% vs 24% 11% of people in low- income Most of the world’s 89% people in high- of people in low- countries use cell phones population growth will income countries have income countries saved to receive money be in less developed an account at a financial money at a financial countries over the next institution compared to institution. decade 24% in low-income countries.

India Overview on Digital Payments Usage Fintech Area Application in financial Inclusion Payments eWallets, UPI, USSD Transfer Peer to Peer Funding for individuals and micro enterprises Lending Microfinance Funding for small and medium enterprise eKYC Aadhar enabled KYC Biometric Credit scoring information, account opening, ATM pin Digital Identify Aadhaar linkage to account for credit information Remittances Transfer and payments in remote areas

Attributes of a Successful Fintech Hub Entrepreneurial and innovative mindset Entrepreneurs infuse the right spirit and culture to drive growth of innovative start-ups. The metrics used to measure it includes IMD’s entrepreneurship index, innovation and sophistication index, openness and attitude towards globalization Government programmes and incentives Government sets the platform for smooth operations of start-ups with their favourable policies and tax incentives specific to the fintech sector. Technology readiness Technological skills and infrastructure form the foundation of fintech. Index used to measure this includes IT skills index, per centage of qualified technology workforce, cybersecurity levels and internet penetration in the nation.

Attributes of a Successful Fintech Hub Regulatory support State efficiency and a supportive legislative framework encourages the establishment of start-up firms in a nation. This is measured through indices such as regulatory compliance, flexibility and adaptability of the legal system etc. Business environment The ease of doing business index, country competitive index, number of days and procedures to start a business help in creating a conducive business environment. Funding Availability of venture capitalists and other investors interested in investing in risky start-up firms are imperative to induce capital in the sector.

References & Appendix https://www2.deloitte.com/content/dam/Deloitte/in/Documents/financial-services/in-fs-fintech-india-ready-for-breakout-noexp.pdf https://techcrunch.com/2017/05/13/brazils-fintech-boom-offers-new-vertical-opportunities-for-investors/ https://home.kpmg.com/xx/en/home/insights/2017/04/the-pulse-of-fintech-q1-2017.html

Author Biography Nitesh Kukreja a masters graduate in Computers and Finance from Mumbai University currently working with Capgemini as Software Test Professional carries expertise in banking payments domain and carries past experience working with Fintech companies.

Thank You!!!