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FINTECH FINAL.pptx
- 1. FINTECH MODEL AJITH KUMARAN – BHARATH JESWANDHI SATHYANATHAN – 21AB36 SANTHOSH S SMRITHI K – 21AB40
- 2. ▹ A FinTech business model is a plan for a financial technology business; this includes operating strategy, revenue sources, and intended customer base. ▹ Financial technology (Fintech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services. ▹ At its core, fintech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones. 2 INTRODUCTION
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- 4. EXAMPLES ▹ Visa ▹ Mastercard ▹ Ant Financial IN INDIA ▹ Razorpay ▹ Paytm ▹ Policybazaar 4
- 5. TRENDS ▹ Artificial Intelligence Artificial intelligence (AI) and Machine learning (ML) are used for various purposes in FinTech solutions ▹ Block Chain Blockchain technology has completely transformed the modus operandi of the FinTech industry. ▹ Robotic process Automation RPA uses digital robots or programs to automate routine, repetitive activities humans previously performed. 5
- 6. ▹ Robotic process Automation RPA uses digital robots or programs to automate routine, repetitive activities humans previously performed. ▹ Voice Enabled Payments Voice-enabled technology allows people to use their smartphone’s voice recognition software and a digital assistant like Google Assistant or Amazon Alexa to hear their balance and make payments or money transfers. ▹ Biometric security System FinTech services have brought banking at our fingertips. 6
- 7. SCOPE ▹ It is the 3rd largest fintech ecosystem in the world with 2100+ companies, valued at $ 50-60 Bn in FY20 and is estimated at ~$ 150 Bn by 2025. • As of December 2021, India has over 17 Fintech businesses that have achieved the Unicorn Status. ▹ Introducing Digital Rupee, using blockchain and other technologies, to be issued by the Reserve Bank of India (RBI) starting 2022-23. ▹ Inclusion of all the 1.5 lakh post to access accounts through net banking, mobile banking, ATMs, and also provide online transfer of funds between post office accounts and bank accounts. 7
- 8. ▹ Since 80% of banking activities at top banks in India run on digital channels, the scope for remittance programs is immense. ▹ We’ll see a partnership ecosystem with banks joining forces with large tech firms to deliver personalized products and services. ▹ Neo banks have vast potential to revolutionize the SME credit sector, which is currently underserved due to a lack of public database. 8
- 9. Challenges of Fintech Industry ▹ 1. Data Security ▹ 2. Compliance with Government Regulations ▹ 3. Lack of Mobile and Tech Expertise ▹ 4. Big Data and Al Integration ▹ 5. Blockchain Integration ▹ 6. User Retention and User Experience ▹ 7. Effective Marketing Tactics to Acquire Customers 9
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