At present, India houses over 2,100 FinTech companies of which 11 firms achieved the Unicorn status in 2021 and has around 15 companies that may acquire the Unicorn status in 2022. The year 2021 witnessed funding of over $9 Bn, which has paved the way for growth in 2022. The uptick in demand to develop financial products to cater to the changing customer needs continues to disrupt the BFSI segments.
Globally, India has the third-largest FinTech ecosystem and is poised to grow at a CAGR of over 24.5% to reach roughly $150 Bn by 2025. The unwavering support from the Government of India through initiatives like Inter-Ministerial Steering Committee (IMSC) on FinTech, GIFT City, Joint Working Groups on FinTech, among others, is likely to spur platform growth and innovation in this sector. Besides, next-gen technologies like AI, ML, Blockchain, automation, etc., to help the FinTech companies meet the needs of the unbanked citizens, is expected to open new revenue streams for the FinTechs.
VCCircle this year presents the 2nd edition of the FinTech Summit.
Themed ‘Renaissance of the Financial Experience’, the event focuses on identifying new-age business models and strategies FinTechs may adopt to not just survive the market, but be able to improve user experience. The event will shed some light on the importance of collaboration for financial inclusion using embedded finance.
By Shalil Gupta, Business Head, Mosaic Digital
By Ramgopal Subramani, COO, Perfios Software Solutions Pvt. Ltd
Be it wallets, insurance, or lending, financial technology has transformed the way businesses transact. Backed with a gripping user experience design, fintech firms act as a one-stop-shop financial solution, thus ensuring superior customer satisfaction. Such accelerated adoption of next-gen technologies to offer targeted solutions across the traditional components of the BFSI industry is likely to present a $100 Bn opportunity by 2025.
By Dr. Amitabh Rajan, Chairman, Reserve Bank of India Services Board & Committee Member, Stressed Assets, SBI
Since the introduction of UPI in 2016, India has witnessed an explosion of fintech innovation, with the inception of over 2100+ fintech firms in the past five years. However, with the market heading towards rapid consolidation, how will these firms surf the future? What business models, strategies, and technologies will have a sizeable opportunity inorder to overcome uncertainty in policies, spending patterns, & usage trends?
Speakers:
Ram Gopal, CEO, Barclays Bank India
Deepak Sharma, President & CDO, Kotak Mahindra Bank
Rohan Ghosh Roy, Partner – Corporate, Trilegal
Omkar Shirhatti, Co-founder and CEO, Karza Technologies
Moderator:
Nidhi Jain, Director, PW & CO LLP
Sumedha Bose, Assistant General Manager - Research and Solutions, Mosaic Digital in conversation with Rajeev Agrawal, Founder & CEO, Innoviti
By Adhil Shetty, CEO, BankBazaar.com
Today, businesses across all levels and industries are keen to launch their own tailored embedded financial services like new-age credit cards, BNPL, cardless payments, etc. to improve customer experience. Considering the adoption rate, Embedded Finance is anticipated to mark a $226 Bn global opportunities by 2025, according to Forbes. Will collaboration be a crucial factor enabling FinTechs to offer financial services? Also, what can be hurdles that can affect the growth of embedded finance in the fast-changing financial services landscape?
Speakers:
Saugata Bhattacharya, Exec VP and Chief Economist, Axis Bank
Surajit Chatterjee, Managing Director - Datacenter (India), Capitaland Investments
Moderator:
Shalil Gupta, CBO, Mosaic Digital
The past few years have seen the fintech revolution grip in India, with hundreds of Fintech companies popping up. Customers are moving away from physical banks and physical cash, and more towards digital-only banking and new-age financial services. Neobanks and other such challengers constitute a significant part of these fintech companies disrupting the traditional banking ecosystem. Let's explore how bank-fintech partnerships are driving the next generation of banking services, and what edge they have over traditional banks?
Speakers:
Akash Sinha, Co-founder and CEO, Cashfree Payments
Nandkumar Saravade, Ex CEO, Reserve Bank Information Technology Pvt Ltd (ReBIT)
Moderator:
Shalil Gupta, CBO, Mosaic Digital
Akash Sinha, Co-founder and CEO, Cashfree Payments & Shalil Gupta, CBO, Mosaic Digital
BNPL payments in India are likely to grow by 89.5% y-o-y to reach over $6.9 Bn in 2022. As the BNPL model continues to disrupt the lending segment, it opens up several opportunities for BNPLs to expand across industries. However, the question arises around the key differentiators and challenges that BNPLs witness to stay competitive in this space. Further, how these BNPLs are impacting the revenue share of Banks? Also, what are the best practices, banks can adopt to sustain their market position?
Speakers:
Dhruv Jain, CEO, Cashe
Dheeraj Aneja, SVP , Fintech and Payments, Flipkart
Moderator:
Sumedha Bose, Assistant General Manager - Research and Solutions, Mosaic Digital
FinTech has transformed the way customers earn, spend, invest or purchase financial products. However, the entire BFSI industry is heavily regulated. Hence, to deliver a user-friendly solution, the main challenge FinTechs firms face is to innovate within compliance standards set by the government. Can RegTech play a role here and help Financial Institutions minimize compliance and reporting risks?
Bahroze Kamdin, Partner, Deloitte India in conversation with Mallika Mittal, Chief Risk Officer (CRO), Mahindra Finance
Akash Sinha co-founded Cashfree Payments, a leading API Banking solutions company in 2015 with his friend Reeju Datta, to solve the challenges faced by businesses in bulk payments and disbursals. Before launching Cashfree, Akash worked with e-commerce giants such as Amazon and BankBazaar where he built products as a Software Engineer.
With his experience as a programmer and product owner, Akash focuses on the intersection of technology and business opportunities. A community builder in the startup and entrepreneur space, he is passionate about cutting-edge tech that can help businesses experiment, scale and innovate faster.
A graduate of International Institute of Information Technology – Hyderabad (IIIT-H), Akash started his first company while still in college, and he takes that legacy forward by building cutting-edge payment products and solutions for businesses. His entrepreneurial journey began shortly after completing his graduation in Computer Science and Engineering from The International Institute of Information Technology where he was selected for the prestigious Google Summer of Code (GSoC), an international annual program in which Google awards stipends to students who successfully complete a free and open-source software coding project during the summer.
In early 2021, Akash was featured in the highly respected Forbes India 30 Under 30 list.
Deepak Sharma heads Kotak Mahindra Bank’s digital initiatives where he drives digital transformation, business model innovation and future ready initiatives of the bank. He is responsible for efficiency, productivity, customer experience and growth of the business through digital intervention across digital channels, lending, payments, investments, insurance, trade & forex, for the Retail, SME, Private Wealth and Institutional Banking segments. Deepak also leads Digital IT & Product Engineering, Innovation Lab, Design Studio, Fintech partnerships and the Start-up ecosystem participation for the bank.
Under his leadership, Kotak has launched several innovative and global first products such as 811, Jifi, Hashtag Banking, KayMall, WhatsApp Banking & Kaypay, apart from new initiatives like API, Open & Connected Banking, Conversational Banking Bot ’Keya’, BYOD Biometric Banking, Cross- border remittances on Blockchain, Artificial Intelligence(AI) and Robotic Process Automation. Deepak believes in constant innovation and focuses on building business models & platforms which are customer centric, value accretive and disruptive.
Deepak has worked across various international markets and brings a global perspective to the business. In his previous role, he was responsible for setting up the Bank’s highly successful Non Resident Indian (NRI) & International Remittances business. Deepak also played a key role in launching the Bank’s affluent banking programme - Privy League.
With over 27 years of experience, Deepak’s professional tenure spans across the banking, telecom and consumer services verticals. Prior to joining Kotak, he was part of the leadership team of Consumer Banking at Standard Chartered from 2003 to 2008. Thereafter, as National Head for Corporate Business at Standard Chartered, he was responsible for building the corporate payroll and Wealth Management business.
Deepak has completed an advanced programme in Strategy from IIM Calcutta as well as the Stanford LEAD Certificate in Corporate Innovation. He is a member of Airtel Customer Advisory Board, Member of Confederation of Indian Industry (CII) Digital Transformation Committee, FICCI National Committee on Fintech & a number of Startup-Industry Forums, in addition to participating at various trade & Government initiatives on the Digital India Roadmap. He mentors fintech and start-up ecosystems on an ongoing basis.
Dheeraj Aneja is the Senior Vice President (SVP) and Head of Fintech and Payments Group at Flipkart. He joined in December 2021 and currently leads the Fintech division at Flipkart which includes products such as Flipkart Pay Later, Co-branded Credit Card, Gift Cards, Payment, among others.
Dheeraj brings with him 17 years of experience across Fintech and Financial services and has previously held leadership roles across strategy, product, business partnerships, operations and risk management. He has strong domain expertise, a deep understanding of the Fintech ecosystem and a commendable track record of scaling Fintech and Payments businesses.
Prior to Flipkart, Dheeraj has led teams at MobiKwik, Ernst & Young & Visa. He has been a part of the management team leading MobiKwik to IPO. He holds a Masters degree in Business Administration from the Kellogg School of Management, Northwestern University.
During his leisure hours, Dheeraj loves to travel and play squash. He is also a beginner at golf and enjoys leading an active lifestyle.
As CEO of Innoviti, Rajeev leads one of India’s most exciting financial technology companies in India that is using technology to reduce friction in delivery of many financial services. An engineer by profession, Rajeev believes in a strongly design centric technology approach that can solve problems conclusively.
Innoviti started its fintech business in 2008 and quickly established itself as a pioneer in solving real-world fintech problems.
The company has been a pioneer in the use of technology to add intelligence to payment transactions, helping merchants, banks and brands utilize the full power of digital payments to drive business growth. The company processes over 10B$ of offline merchant payments (~5% of India’s offline merchant payments volume as per RBI data), from over 1000+ cities with a volume throughput per installation that is 2X of the country’s average. Catamaran Ventures, SBI Capital, Bessemer Ventures and FMO are investors in the company. The company has several patents filed for with two awarded. Innoviti is the winner of Mastercard’s Innovation Wizards Award for its instant onboarding innovation, and Reliance’s Most Promising Growth Consumer Finance Award for its #KuchBhiOnEMI innovation in 2019. Innoviti is the only Indian payments SaaS company to be awarded the SOC3 seal of excellence for adherence to principles of trust in privacy, security, confidentiality, availability, and processing of transactions.
Prior to founding Innoviti, Rajeev was Vice President and Head of Broadband Communications Business at Sasken, Bangalore. He has done his B.Tech and Ph.D. from IIT, Bombay and is credited with the fastest Ph.D. in the history of IIT, Bombay.
Rohan Ghosh Roy is a Partner at Trilegal and a part of the Corporate practice group. He has worked with several leading funds, financial institutions and multinational corporations, including Ant Financial (Alipay), Alibaba Group, GIC (Singapore), the SoftBank Vision Fund, the 3i Group, International Finance Corporation, the Blackstone Group, BAce Fund and the D.E. Shaw Group.
Rohan has advised top-tier clients on a variety of high-value and complex investments into India’s leading payments, e-commerce, technology and consumer internet companies – advising on investments of over $3.5 billion into the likes of Paytm, Flipkart, Zomato, Swiggy, BigBasket and PolicyBazaar.
As a trusted advisor, Rohan continued to be involved with these businesses post-investment, and these long-tail engagements have helped provide Rohan with unique insights and develop deep domain expertise.
Rohan has also represented corporate and private-equity clients on contentious exits, and investment disputes (including, advising a private-equity client on its contentious exit from Krishnapatnam Ports, and advising Alibaba (the largest shareholder) on the recent $1.3 billion-acquisition of BigBasket by the TATA Group).
Mr. Saugata Bhattacharya is Senior Vice President and Chief Economist at Axis Bank. He was previously with Unilever in India and with Infrastructure Development Finance Company (IDFC). He has studied at the Delhi School of Economics and Oxford University.
He was a member of the RBI’s Group on of Monetary Policy (2010) and the Finance Ministry Group on Estimating Foreign Savings (2011). He was part of the Core Group supporting the Percy Mistry Committee on Making Mumbai an International Financial Centre in 2007.
He is a member of the CII National Growth and Investment Council and a Special Invitee to the CII Western Region Council. He is a columnist for the Financial Express, and a regular contributor to other newspapers.
Surajit Chatterjee is the Managing Director of CapitaLand Investments, Data Centre Group India. He has successfully established the Group as a Data Centre Operator in India and has played a leadership role in streamlining the business operations from inception to execution.
He is a master strategist in the field of Operations, Business Development, Enterprise Sales & Marketing and Customer support, having an eventful career of 26+ years in various industries like IT services, Telecom, and Infrastructure. His vast domain expertise in Cloud, Managed Services, and Data Center Operations, makes him an influential figure in the Industry.
In the past, he has been associated with companies like Sify Technologies, Tata Communications (ST Telemedia), Tulip Telecom, and HCL Technologies, where he has been a pioneer in developing and launching profitable business models that include complete end-to-end life cycle management of the organization.
He is a Strategically-focused, persistent and outcome-driven leader with a knack for building and inspiring large, cross-functional teams to deliver beyond business expectations with a Laser focus on continuously improving quality while managing costs.
Surajit is an outstanding communicator at all levels and is associated with various Industry governing bodies. He is a regular Business Speaker at events where he shares his insights on Industry trends, Operations, Leadership, Strategy, Innovation, and other business aspects, which help create a profitable enterprise.
Perfios Software Solutions is India’s largest SaaS based B2B fintech software company, headquartered in Bangalore, which specialises in real time credit decisioning and analytics. The company’s core technology platform has been built to extract, cleanse, transform and analyse all types of disparate data – such as verification data, financial data, insurance data, UPI data, Account Aggregator data etc.
Having recently acquired Karza Technologies Pvt Ltd, currently one of India’s most prominent SaaS based RegTech start-ups, as a unit, both Perfios and Karza aim to address the entire digital lending gamut as a ‘one-stop-shop-solution’ – from onboarding, verification, credit assessment, fraud analytics, monitoring, collections, LOS Solutions, AA solutions and hyper-personalized AI based offerings – for the Indian B2B customer segment.
Perfios has mastered data analytics through its cutting-edge AI and ML algorithms that transform the digital lending space for FIs while carving a niche for itself over the last 14 years as a Data Platform Provider that intrinsically caters to industry agnostic domain intensive solutions through constant innovation and by excelling at solving complex current global problems.
The Perfios Group has a global presence in over 18 geographies, servicing 800+ clients, offering 500+ APIs and with a growing family of 1000+ employees.
With illustrious investors such as Bessemer Venture Partners and Warburg Pincus on our Board, we are confident to continue creating value for our customers, stakeholders and the economy.
Founded in 2015 by Akash Sinha and Reeju Datta, Cashfree Payments is a leading and fast-growing payments and API banking solutions company, based in Bangalore. Cashfree Payments provides a full stack payments solution enabling businesses in India to collect payments and make payouts via all available methods with a single integration. Cashfree Payments is the leading payment processor for payment disbursals with more than 50% market share.
Cashfree Payments was founded with the vision of enabling businesses in India to accept and disburse payments around the clock. At present, it is amongst the leading payment service providers in India processing transactions worth USD 40 billion annually.
With the mission to use innovative technology & excellent service to provide the best payment experience to users, Cashfree Payments has so far launched 16 products with 6 industry-firsts, and continues to innovate to advance digital payments in India and across the globe. Cashfree Payment has also been a pioneer in banking transactions via API or API Banking, which leads a rapid technological shift in global fintech.
Cashfree Payments works with more than 1,50,000 companies to offer solutions such as payment collections, vendor payouts, wage payouts, bulk refunds, expense reimbursements, loyalty, and rewards.
Incubated by payments pioneer PayPal, Cashfree Payments is backed by Apis Partners, Smilegate and the famed Silicon-Valley startup accelerator Y-Combinator, Cashfree Payments has been profitable since 2016). India's leading lender, the State Bank of India (SBI) has recently made a strategic investment in the organisation to reinforce the shared vision of promoting digital modes of payments.
Through partnerships with brands like Zomato, Cred, Nykaa, Delhivery, Acko and Shell Cashfree Payments has launched several personalized products and solutions for specific business use cases to elevate end-user experiences. Cashfree Payments works closely with all leading banks to build the core payments and banking infrastructure that powers the company’s products, and is also integrated with major platforms such as Shopify, Wix, Paypal, Amazon Pay, Paytm and Google Pay. Apart from India, Cashfree Payments’ products are used in eight other countries including the USA, Canada and the UAE.
1. Innoviti (www.innoviti.com) is India’s largest provider of payment solutions to Enterprise merchants.
a) Processing $10 Bn of payments from 2000 cities. We today have 76% of Enterprise market share.
b) Enterprises such as Reliance, Landmark Group, Shoppers Stop, Pantaloons, Hamley’s, Van Heusen, Louise Phillipe, Croma, and several other hundreds of Enterprises are our customers.
Our vision is to use technology to unlock the hidden value in payments, helping large and small businesses constantly find new and unique ways to grow faster with lesser efforts.
We believe payment transactions are more than money moving pipes. Whenever a payment happens, it is not only the merchant who makes money, but also the brand whose product was sold and the bank whose payment instrument was used. A merchant, brand, and bank talk to the same consumer, however there is no easy way for them to talk to each other. Our technology makes this collaboration happen, and makes it happen at the point of payment. We help them share customers and share marketing budgets, in turn targeting customers better than possible otherwise. By making it happen at the point of payment we ensure for each party that their marketing efforts are translating into sales.
Today our technology has helped large businesses grow faster with lesser efforts. They have been able to offer EMI, BNPL, Cashbacks, Loyalty Point redemption and other offers with merchants, brands and banks participating in it. Every day new use cases are designed and stitched using our technology platform.
CapitaLand Group (CapitaLand) is one of Asia’s largest diversified real estate groups. Headquartered in Singapore, CapitaLand’s portfolio spans across diversified real estate classes which include integrated developments, retail, office, lodging, residential, business parks, industrial, logistics and data centres. CapitaLand’s global presence spans across more than 260 cities in over 40 countries.
CapitaLand has a global real estate network that extends to data centres. Our customers include multinational companies from cloud, ecommerce and telecommunications. The Group currently has four data centres in Singapore, 11 in Europe, one each in China and India, and it is the fund and asset manager for the development of two data centres in Korea.
VCC Events opens up the avenues for participation. Join hands to be a part of India’s largest gathering of alternative investments leaders, industry stakeholders and Asia’s influential limited partners, general partners and marquee advisors. Your chance to actively participate and augment yourself as thought leaders.
