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Careers in
Fintech
Space
India with Global View
Presented by:
Vatsal Jain (education purpose only)
Profile Snapshot– Btech and MBA, 9 years of total experience
IT Engineer, 2010
Undergrad
Core Developer
2010-2012
Amdocs
IIT,GATE, CAT
Exams
SGSITS Indore
Global Innovation Nominee
Most Entusiastic fresher award
99.1%ile CS Gate 2011
99.86%ile CAT, 99.98%ile in Maths
IIM Ahmedabad
2012-2014
MBA
Entrepreneurship, Strategy and Finance
Interned with Royal Bank of Scotland
2014-2015
Unilever
2015-2017
Paytm
2017-2019
TU CIBIL
Future Leadership Trainee –
Complete FMCG sales - Rural, Retail, Modern Trade with
GSKCH under Hindustan Unilever
Worked across allainces, product and strategy
Payments Bank, Wallets, Remittance
Solution Consultant for 7 Banks, dealt with CXOs & Heads
Managed banks books worth 400 Crores annually
Built the category from scratch to 15 Cr annual revenue
Dec 2019
PayPal
Enterprise Consultant with PayPal India
Education Work Experience
Banking
01
A small review/overview
The word ‘bank’ is used in the sense of a
commercial bank. It is of Germanic origin though
some persons trace its origin to the French word
‘Banqui’ and the Italian word ‘Banca’. It referred to
a bench for keeping, lending, and exchanging of
money or coins in the market place by money
lenders and money changers.
Banking: The Evolution, Origin and Growth of Banking
Goldsmith-money- lender became a banker who started performing the two functions of modern banking
The first bank called the ‘Bank of Venice’ was established
in Venice, Italy in 1157 to finance the monarch in his wars.
There was no such word as ‘banking’ before 1640,
although the practice of safe-keeping and savings
flourished in the temple of Babylon as early as 2000 B.C.
Chanakya in his Arthashastra written in about 300 B.C.
mentioned about the existence of powerful guilds of
merchant bankers who received deposits, and advanced
loans and issued hundis (letters of transfer). The Jain
scriptures mention the names of two bankers who built
the famous Dilware Temples of Mount Abu during 1197
and 1247 A.D.
Reference: Link here
The next stage in the growth of banking was the
goldsmith. The business of goldsmith was such
that he had to take special precautions against
theft of gold and jewellery. If he seemed to be an
honest person, merchants in the neighbourhood
started leaving their bullion, money and
ornaments in his care.
The next stage in the growth of banking is the
moneylender. The goldsmith found that on an average the
withdrawals of coins were much less than the deposits
with him. So he started advancing the coins on loan by
charging interest.
1
2
3
4
5
Banking: The Evolution in India
India Perspective
Reference: Link here
Banking: Top banks in India
India Perspective
Reference: Link here
Fintech
02
A small review/overview
Key trends and some numbers
India - A global FinTech Superpower
Reference: Link here
India has the highest FinTech adoption rate globally
India is amongst the fastest growing Fintech markets in the world. Of the 2,100+ FinTechs existing in India
today, over 67% have been setup in the last 5 years.
The Indian Fintech market is currently valued at $31 Bn and is expected to grow to $84 Bn by 2025, at a CAGR of 22%.
The Fintech transaction value size is set to grow from US$ 66 Bn in 2019 to US$ 138 Bn in 2023, at a CAGR of 20%.
A wide range of subsegments Payments, Lending, Wealth Technology (WealthTech), Personal Finance Management,
Insurance Technology (InsurTech), Regulation Technology (RegTech), etc.
The Indian Financial industry has seen cumulative investments into domestic FinTechs of more than $10 Bn since 2016.
As of May 2021, India’s United Payments Interface (UPI) has seen participation of 224 banks and recorded 2.6 billion
transactions worth ~$68 Bn representing a jump of 15x from just 3 years ago for the same period in 2018.
Basic block diagram
What is fintech?
Reference: Link here
Technology
Revamp
Money flow
New Services
New Products
New Processes
New Biz Models
Change or Improve
Disrupt
Apply IT
Create Ease
Increase Viability
India tops the chart at 4th Rank on the funding chart
Reference: Link here
Supply View
Drivers on Indian Fintech Market
Top 78
Starups Digitising Financial Services in India
Reference: Link here
Major verticals
Double Clicking on Fintech
Reference: Link here
•Driven by mobile wallets:
•More recent innovations including the
Payment Interface (UPI) platform,
have embraced the use of mobile
to-day transactions.
•Consumer awareness:
•Customers are visiting insurance
bank aggregator sites for comparison
•IPOs & Stock Market –
•Online stockbroking and investment
becoming increasingly popular
•Borrowing is also being transformed —
•“digital lenders” are providing
simpler, less–paper borrowing
leveraging alternate data as a credit
provide credit to non-traditional
Reference: Link here
Demand view
Drivers on Indian Fintech Market
Lending
03
Welcome to the world of LEVERAGE
Need of Digital and Customer Centric solutions
Challenges and Opportunity – Fintech Lending in India
Understånding the white spaces
Pillars of Fintech Lending –
Process for loan origination
MSME lending snapshot
Neo Banking
04
Welcome to world of light banking
Everything is changing to DIY
Neo Banking – Experiential banking with a twist
Reference: Link here
Reference: Link here
World is changing fast
Neo Banking – Emerging Digital/Neo Banking firms
Neo Vs Digital Vs Traditional
Neo Banking – Experiential banking with a twist
Reference: Link here
?
Most Popular Ones
Digital Banks across the Globe
Most Popular Ones
Digital Banks across the Globe
Reference: Link here
1.Customer
experience:
1.Neobanks don’t offer novel banking services. Their services are similar to those of traditional banks,
but with a hyper-enhanced and personalised customer experience. Neobanks have significantly leaner
business models and superior technologies. Round-the-clock customer service supported by chatbots,
near real-time cross-border payments, and artificial intelligence (AI) and machine learning (ML)-enabled
automated accounting, budgeting and treasury services.
Automated
services:
Apart from providing primary banking services, neobanks offer automated and near real-time accounting
and reconciliation services
Transparency: Neobanks are transparent and strive to provide real-time notifications and explanations of any charges
and penalties incurred by the customer.
Easy-to-use
APIs:
Most neobanks provide easy-to-deploy and operate APIs to integrate banking into the accounting and
payment infrastructure.
Deep insights: Most neobanks provide dashboard solutions with highly enhanced interfaces and easy to understand
and valuable insights for services such as payments, payables and receivables, and bank statements.
It’s beneficial for businesses with significant expenditure and appropriate number of employees, to be
provided with such insights, reduce expenditure and boost productivity and revenue.
Who will win the race?
Neo Banking – Key differentiators
Digital banking Vs Neo Banking
New Banking – Pros & Cons
Reference: Link here
How does it fit into larger business schemes
Neo Banking – Nimble Architecture
Reference: Link here
Changing Roles
05
Emerging Fintech roles – B2B, B2C and B2B2C
Understanding through B2B mindset
Profiles being created in Fintech
Understanding through B2C mindset
Profiles being created in Fintech – B2C and B2B2C
Partner risk, Customer Experience, Dispute
CRM based selling – Push/Growth/Offer Marketing
Merchant onboarding, categorymanagers
Growth Marketing and Alliances
06
Emerging Fintech Sales roles
CAC is the key
Customer Funnel – Result of effective Marketing, Sales and Operations
Offline/Sales
Online/Paid/Content
Word of Mouth
Alliances
Loyal/Repeat customer
Active Customer
Cutomer
Onboarding
Sales qualified leads
Visits  Interested
leads
Data flow, basic information capture, the
resposne and engagmeent to be measurable
MIS, customer profiling, sales channel info, Basic
product information, lead info, category
Vertical level onboarding, KYC, pricing, legal, product
finalization, data flow to compliance, underwriting, risk, legal
Support infra, data flow to collections, debt management
module, profitability, risk filters, reminders, accounting, bureau
score cards
Upsell/Xsell, sales management, risk profiling, portfolio check,
triggers, customer success team, regulation, macro lending
rules
Profitability matrix, customer champion, allied services,
customer life cycle management, meta data for customer,
M
R
K
T
I
N
G
S
A
L
E
S
C
S
M
Roles in Amex
Roles in Visa
Roles in Visa
Roles in Simpl – BNPL Fintech
Field Roles in Branch Banking or Credit Card firm
Business roles in Cred
Product Thinking
07
Emerging Fintech Product roles
Process for loan origination
MSME funding snapshot
Must Have
Should Have
Could Have
Won’t Have
Existing Product Competition
Pain points we are solving
while scaling
What worked Best!!
Seamless onboarding
Satisfaction/Extra Robustness
SMS/email notifications
Features which dint work at all
3rd Party offline KYC
Competitor’s edge
Sanction letter in one day
Mistakes done by Competition
STP for a high risk customer
Features to scale up (Moat)
Omnichannel repayment module
Best in class experience
Digital first onboarding
Good to have features
Industry specific pricing
Avoid bottle neck scenarios
Regulatory aspects hard coded
Creating a macro view of what features to have, keeping current product, competition and our vision in mind
Top of the mind features of
competition
Assisted Onboarding
Features to have better control
Monitoring or Regular bureau check
Features to have better control
Daily book report to lenders
How does a PM think
Delta Analysis before product launch
Broader steps to be followed
Product Execution Snapshot
Product marketing,
channel marketing
and acquisition
SMEs in the value chain
(identified verticals)
Must have features
Bandwidth allocation
Core MVP launch
Finalize the UI/UX &
Documentation
Customize verticals
Scaling up
Incorporate changes
Calibrate
Understand the
impacted modules
Backward Biz
Compatibility
Risk engine, Regulatory
nimbleness, Security &
Partner integrations
Measure the Impact
Recursively improve
while scaling up
STRATEGY
SYNC other processes/modules
PRODUCT CREATION
MEASURE & IMPROVE
Target Group
Business Objectives
Marketing
Biz KPI Platform KPI
Feedback
Processes
Cross Functional
Customer base by 15x
Volumes by 100x
Scale ensuring quality
Cost effective, transparent,
quick & secured
invoice-based lending
solution(s) for defined TG
Go live
Vision
Roles in Amex
Roles in Cred - Product
Product Roles in Simpl – BNPL Fintech
Data Modelling & Ops
08
Emerging Fintech Data and Ops roles
Keeping growth under control
Support the increased traffic - KPIs to manage the scaled customer acquisition and retention
Customer Acquisition
Hunting
TECHNOLOGY & PROCESSES
Marketing KPIs
Channel KPIs
Budgeting KPIs
Onboarding Parameters
Information handling KPIs
Underwriting & Pricing
KPIs
Customer Retention
Farming
Experience KPIs
Engagement KPIs
(upsell/xsell)
Service KPIs
Load & Performance KPIs
INFRASTRUCTURE & Use of DATA
Loyalty KPIs
Business per MSME KPIs
Data Driven KPIs
Security & Fraud
• Lead Generation module to be refined for all channels
• Portfolio level loan book to be evaluated for each channel
• Cost of lead generation and churn are important metrices
• Process optimization and service would be the major focus after MVP success
• Xsell and Upsell opportunities to be identified, loan per SME per year to be
observed
• Strong collection efficiencies to avoid stress at book level
Acquisition Retention
Roles in Cred Analytics
Operations Roles in BNPL
Roles in Rating Firm - Transunion
Thank you
Presented by:
Vatsal Jain (education purpose only)

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Fintech

  • 1. Careers in Fintech Space India with Global View Presented by: Vatsal Jain (education purpose only)
  • 2. Profile Snapshot– Btech and MBA, 9 years of total experience IT Engineer, 2010 Undergrad Core Developer 2010-2012 Amdocs IIT,GATE, CAT Exams SGSITS Indore Global Innovation Nominee Most Entusiastic fresher award 99.1%ile CS Gate 2011 99.86%ile CAT, 99.98%ile in Maths IIM Ahmedabad 2012-2014 MBA Entrepreneurship, Strategy and Finance Interned with Royal Bank of Scotland 2014-2015 Unilever 2015-2017 Paytm 2017-2019 TU CIBIL Future Leadership Trainee – Complete FMCG sales - Rural, Retail, Modern Trade with GSKCH under Hindustan Unilever Worked across allainces, product and strategy Payments Bank, Wallets, Remittance Solution Consultant for 7 Banks, dealt with CXOs & Heads Managed banks books worth 400 Crores annually Built the category from scratch to 15 Cr annual revenue Dec 2019 PayPal Enterprise Consultant with PayPal India Education Work Experience
  • 3.
  • 5. The word ‘bank’ is used in the sense of a commercial bank. It is of Germanic origin though some persons trace its origin to the French word ‘Banqui’ and the Italian word ‘Banca’. It referred to a bench for keeping, lending, and exchanging of money or coins in the market place by money lenders and money changers. Banking: The Evolution, Origin and Growth of Banking Goldsmith-money- lender became a banker who started performing the two functions of modern banking The first bank called the ‘Bank of Venice’ was established in Venice, Italy in 1157 to finance the monarch in his wars. There was no such word as ‘banking’ before 1640, although the practice of safe-keeping and savings flourished in the temple of Babylon as early as 2000 B.C. Chanakya in his Arthashastra written in about 300 B.C. mentioned about the existence of powerful guilds of merchant bankers who received deposits, and advanced loans and issued hundis (letters of transfer). The Jain scriptures mention the names of two bankers who built the famous Dilware Temples of Mount Abu during 1197 and 1247 A.D. Reference: Link here The next stage in the growth of banking was the goldsmith. The business of goldsmith was such that he had to take special precautions against theft of gold and jewellery. If he seemed to be an honest person, merchants in the neighbourhood started leaving their bullion, money and ornaments in his care. The next stage in the growth of banking is the moneylender. The goldsmith found that on an average the withdrawals of coins were much less than the deposits with him. So he started advancing the coins on loan by charging interest. 1 2 3 4 5
  • 6. Banking: The Evolution in India India Perspective Reference: Link here
  • 7. Banking: Top banks in India India Perspective Reference: Link here
  • 9. Key trends and some numbers India - A global FinTech Superpower Reference: Link here India has the highest FinTech adoption rate globally India is amongst the fastest growing Fintech markets in the world. Of the 2,100+ FinTechs existing in India today, over 67% have been setup in the last 5 years. The Indian Fintech market is currently valued at $31 Bn and is expected to grow to $84 Bn by 2025, at a CAGR of 22%. The Fintech transaction value size is set to grow from US$ 66 Bn in 2019 to US$ 138 Bn in 2023, at a CAGR of 20%. A wide range of subsegments Payments, Lending, Wealth Technology (WealthTech), Personal Finance Management, Insurance Technology (InsurTech), Regulation Technology (RegTech), etc. The Indian Financial industry has seen cumulative investments into domestic FinTechs of more than $10 Bn since 2016. As of May 2021, India’s United Payments Interface (UPI) has seen participation of 224 banks and recorded 2.6 billion transactions worth ~$68 Bn representing a jump of 15x from just 3 years ago for the same period in 2018.
  • 10. Basic block diagram What is fintech? Reference: Link here Technology Revamp Money flow New Services New Products New Processes New Biz Models Change or Improve Disrupt Apply IT Create Ease Increase Viability
  • 11. India tops the chart at 4th Rank on the funding chart Reference: Link here Supply View Drivers on Indian Fintech Market
  • 12. Top 78 Starups Digitising Financial Services in India Reference: Link here
  • 13. Major verticals Double Clicking on Fintech Reference: Link here
  • 14. •Driven by mobile wallets: •More recent innovations including the Payment Interface (UPI) platform, have embraced the use of mobile to-day transactions. •Consumer awareness: •Customers are visiting insurance bank aggregator sites for comparison •IPOs & Stock Market – •Online stockbroking and investment becoming increasingly popular •Borrowing is also being transformed — •“digital lenders” are providing simpler, less–paper borrowing leveraging alternate data as a credit provide credit to non-traditional Reference: Link here Demand view Drivers on Indian Fintech Market
  • 15. Lending 03 Welcome to the world of LEVERAGE
  • 16. Need of Digital and Customer Centric solutions Challenges and Opportunity – Fintech Lending in India
  • 17. Understånding the white spaces Pillars of Fintech Lending –
  • 18. Process for loan origination MSME lending snapshot
  • 19. Neo Banking 04 Welcome to world of light banking
  • 20. Everything is changing to DIY Neo Banking – Experiential banking with a twist Reference: Link here
  • 21. Reference: Link here World is changing fast Neo Banking – Emerging Digital/Neo Banking firms
  • 22. Neo Vs Digital Vs Traditional Neo Banking – Experiential banking with a twist Reference: Link here
  • 23. ? Most Popular Ones Digital Banks across the Globe
  • 24. Most Popular Ones Digital Banks across the Globe
  • 25. Reference: Link here 1.Customer experience: 1.Neobanks don’t offer novel banking services. Their services are similar to those of traditional banks, but with a hyper-enhanced and personalised customer experience. Neobanks have significantly leaner business models and superior technologies. Round-the-clock customer service supported by chatbots, near real-time cross-border payments, and artificial intelligence (AI) and machine learning (ML)-enabled automated accounting, budgeting and treasury services. Automated services: Apart from providing primary banking services, neobanks offer automated and near real-time accounting and reconciliation services Transparency: Neobanks are transparent and strive to provide real-time notifications and explanations of any charges and penalties incurred by the customer. Easy-to-use APIs: Most neobanks provide easy-to-deploy and operate APIs to integrate banking into the accounting and payment infrastructure. Deep insights: Most neobanks provide dashboard solutions with highly enhanced interfaces and easy to understand and valuable insights for services such as payments, payables and receivables, and bank statements. It’s beneficial for businesses with significant expenditure and appropriate number of employees, to be provided with such insights, reduce expenditure and boost productivity and revenue. Who will win the race? Neo Banking – Key differentiators
  • 26. Digital banking Vs Neo Banking New Banking – Pros & Cons Reference: Link here
  • 27. How does it fit into larger business schemes Neo Banking – Nimble Architecture Reference: Link here
  • 28. Changing Roles 05 Emerging Fintech roles – B2B, B2C and B2B2C
  • 29. Understanding through B2B mindset Profiles being created in Fintech
  • 30. Understanding through B2C mindset Profiles being created in Fintech – B2C and B2B2C Partner risk, Customer Experience, Dispute CRM based selling – Push/Growth/Offer Marketing Merchant onboarding, categorymanagers
  • 31. Growth Marketing and Alliances 06 Emerging Fintech Sales roles
  • 32. CAC is the key Customer Funnel – Result of effective Marketing, Sales and Operations Offline/Sales Online/Paid/Content Word of Mouth Alliances Loyal/Repeat customer Active Customer Cutomer Onboarding Sales qualified leads Visits  Interested leads Data flow, basic information capture, the resposne and engagmeent to be measurable MIS, customer profiling, sales channel info, Basic product information, lead info, category Vertical level onboarding, KYC, pricing, legal, product finalization, data flow to compliance, underwriting, risk, legal Support infra, data flow to collections, debt management module, profitability, risk filters, reminders, accounting, bureau score cards Upsell/Xsell, sales management, risk profiling, portfolio check, triggers, customer success team, regulation, macro lending rules Profitability matrix, customer champion, allied services, customer life cycle management, meta data for customer, M R K T I N G S A L E S C S M
  • 36. Roles in Simpl – BNPL Fintech
  • 37. Field Roles in Branch Banking or Credit Card firm
  • 40. Process for loan origination MSME funding snapshot
  • 41. Must Have Should Have Could Have Won’t Have Existing Product Competition Pain points we are solving while scaling What worked Best!! Seamless onboarding Satisfaction/Extra Robustness SMS/email notifications Features which dint work at all 3rd Party offline KYC Competitor’s edge Sanction letter in one day Mistakes done by Competition STP for a high risk customer Features to scale up (Moat) Omnichannel repayment module Best in class experience Digital first onboarding Good to have features Industry specific pricing Avoid bottle neck scenarios Regulatory aspects hard coded Creating a macro view of what features to have, keeping current product, competition and our vision in mind Top of the mind features of competition Assisted Onboarding Features to have better control Monitoring or Regular bureau check Features to have better control Daily book report to lenders How does a PM think Delta Analysis before product launch
  • 42. Broader steps to be followed Product Execution Snapshot Product marketing, channel marketing and acquisition SMEs in the value chain (identified verticals) Must have features Bandwidth allocation Core MVP launch Finalize the UI/UX & Documentation Customize verticals Scaling up Incorporate changes Calibrate Understand the impacted modules Backward Biz Compatibility Risk engine, Regulatory nimbleness, Security & Partner integrations Measure the Impact Recursively improve while scaling up STRATEGY SYNC other processes/modules PRODUCT CREATION MEASURE & IMPROVE Target Group Business Objectives Marketing Biz KPI Platform KPI Feedback Processes Cross Functional Customer base by 15x Volumes by 100x Scale ensuring quality Cost effective, transparent, quick & secured invoice-based lending solution(s) for defined TG Go live Vision
  • 44. Roles in Cred - Product
  • 45. Product Roles in Simpl – BNPL Fintech
  • 46. Data Modelling & Ops 08 Emerging Fintech Data and Ops roles
  • 47. Keeping growth under control Support the increased traffic - KPIs to manage the scaled customer acquisition and retention Customer Acquisition Hunting TECHNOLOGY & PROCESSES Marketing KPIs Channel KPIs Budgeting KPIs Onboarding Parameters Information handling KPIs Underwriting & Pricing KPIs Customer Retention Farming Experience KPIs Engagement KPIs (upsell/xsell) Service KPIs Load & Performance KPIs INFRASTRUCTURE & Use of DATA Loyalty KPIs Business per MSME KPIs Data Driven KPIs Security & Fraud • Lead Generation module to be refined for all channels • Portfolio level loan book to be evaluated for each channel • Cost of lead generation and churn are important metrices • Process optimization and service would be the major focus after MVP success • Xsell and Upsell opportunities to be identified, loan per SME per year to be observed • Strong collection efficiencies to avoid stress at book level Acquisition Retention
  • 48. Roles in Cred Analytics
  • 50. Roles in Rating Firm - Transunion
  • 51. Thank you Presented by: Vatsal Jain (education purpose only)