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Rising to new heights with Tech and FinTech! Join us for the Panel Discussion 'Rising with Tech and FinTech' at the ETBFSI NBFC Connect 2024 in Chennai. Explore the latest innovations driving transformation in the NBFC sector. Vinay Mathews, Co-Founder & COO, Faircent "Loans today need to be faster, cheaper and better. This is a common problem that every company is solving." Anil K Pinapala, Founder & CEO, Vivifi India "Physical infrastructure is also necessary today even though we drive with a digital first approach. To build last mile connecticity, I think lending can be through an assisted model with a hybrid approach for expanding credit access." Anil Sinha, CTO, Fibe.India (Formerly EarlySalary) "We are heavily invested in fraud detection because understanding a digital customer and identifying fraudulent behaviour is very very tricky." Punit Jain, CEO, Servosys Solutions "The role of technology for MSME sector is to make things faster, cheaper and better." Souparno Bagchi, COO, Balancehero India "Lenders or fintechs need to look into three aspects together — Affordability, Availability and Accessibility." Moderator: Sidharth Diwan, Partner-Strategy and Digital, PwC India Know more- https://bit.ly/3Owey9x #ETBFSI #ETNBFCConnect #Chennai2024 #BFSIEvent #FinanceInnovation #Finance #NBFCs

As we wind down the week, let’s take a quick trip back to what has been happening in the world of Fintech. 1?? India’s fintech sector has a combined market value of $90 billion across 26 unicorns, including one DECACORN. The number of registered fintech startups in India has grown from 2,100 in 2021 to 10,200 in 2024. Fintech startups in India have raised over $28 billion between 2014 and 2023, with a significant share of global fintech funding. The fintech sector contributed about $20 billion in revenues in FY23, making up approximately 5% of the BFSI sector’s total revenues. 2?? The Reserve Bank of India (RBI)’s Innovation Hub has launched an AI model named MuleHunter AI to help banks identify mule accounts, which are often used for fraudulent activities. MuleHunter AI has already been implemented in a major public sector bank, with plans for deployment across other banks. With the increase in digital transactions, financial crimes involving mule accounts have surged. Online financial frauds accounted for 67.8% of all cybercrime complaints in Q2 2025. The RBI and SEBI are intensifying efforts to combat mule accounts, urging banks to take proactive measures. 3?? SEBI has shortened the period for public comments on draft offer documents and the minimum subscription period for debt securities. Issuers can now advertise public issues through electronic modes and have discretion over price band revisions. Disclosure requirements for non-convertible securities have been simplified, removing the need for PAN and personal address details of promoters. The new rules became effective on September 17, 2024. 4?? Finance Minister Nirmala Sitharaman emphasized that banks will play a crucial role in making India a developed nation by 2047. She highlighted the importance of secure and user-friendly digital banking, stressing the need for robust systems to prevent hacking. Sitharaman noted that 45% of all real-time digital payments globally occur in India, with UPI being operational in seven countries. Banks are expected to support infrastructure development and provide funding to MSMEs, as well as increase insurance penetration and bring the unbanked population into formal banking channels. Happy Weekend ?? Ready to explore more? Check out the comments for the full scoop! ?? #Fintech #Finance #DigitalTransformation #UPI #IndiaFintech #GlobalFinance #SEBI #RBI #Innovation #DigitalPayments

Reflecting on the Fintech Roundtable on #Consumer Protection & #Fraud Prevention I recently had the opportunity to participate in the Digital Lenders Association of India (DLAI) Conclave as part of a roundtable discussion on #Fintech Strategies for #Consumer Protection and #Fraud Prevention. It was an enriching experience to engage with industry peers (Ankur Gupta, Kanishk Dutta, Saahil Rai, Anish Chowdhary, Dheeraj Bhojwani, Richa Sonpatki ) regulators, and #fintech leaders (Hitesh Sachdev Shilpa Mankar Ahluwalia) to discuss the evolving challenges in #fraud prevention and consumer #trust. With financial frauds amounting to an estimated INR 11,000 Cr in 2024, the conversations at the event reinforced the need for a multi-faceted approach—beyond consumer literacy—to build a more secure and resilient fintech ecosystem. Some key themes that stood out during the discussions included: Identifying #systemic vulnerabilities and improving #fraud detection Leveraging #technology for #scalable and #efficient #fraud prevention Collaborative efforts with #regulators to enhance governance #frameworks Learning from past #successes and #challenges in consumer protection Thanks to IIMA Ventures for the opportunity to contribute and learn from such a diverse group of stakeholders. Looking forward to continued collaboration and meaningful progress in this critical space. If you're working in #fintech, #fraud prevention, or #consumer protection, I'd love to connect and exchange insights. HyperVerge Google Pine Labs Experian IBDIC (Indian Banks' Digital Infrastructure Company) Perfios KredX ICICI Bank Reserve Bank Innovation Hub (RBIH) Shardul Amarchand Mangaldas & Co Fintech Association for Consumer Empowerment (FACE) Digital Lenders Association of India (DLAI) Fintech Convergence Council Sahamati The Fintech Yatra #Fintech #FraudPrevention #ConsumerProtection #DLAIConclave #FinancialInclusion #Collaboration

??????????????????? ??????????. ?????????????????? ????????????????. ???????????????????? ??????????????????????????! At Bharat Fintech Summit 2025, we’re bringing together the greatest minds in finance and technology to decode the future of BFSI. This is more than an event—it’s a platform where leaders shape tomorrow’s financial ecosystem and share their invaluable journeys. ?? ???????? ???????? ?????? ???????????????? ?????? ?????????????? ???????????????????? ?????? ?????????? ????????????????????????????. ?? ???????? ?????? ?????? ????????????: ??Inspiring stories of transformation from industry leaders. ?? Insights that address the most pressing challenges in BFSI. ??Strategies that will reshape how businesses and technology intersect. ?? Date: February 5-6, 2025 ?? Venue: JW Marriott, Sahar, Mumbai ?? ??????’?? ???????? ?????????? ???????? ?????? ?????????????????? — ???????? ?????? ???????????????????????? ?????? ?????? ?????????????????? ?????? ?????????? ???? ?????? ???????? ??????????????????. Be part of this iconic gathering – View agenda: https://lnkd.in/dbaAUbPk Register Now: https://lnkd.in/dZZKqpmt INDERJIT CAMOTRA Rajeev Ahuja GEORGE JOHN (Bobby) Shalini Warrier Reeju Datta Hemant Vishnoi Sameer Singh Jaini Shashank Shekhar Vikrant Kulkarni Unity Small Finance Bank Federal Bank RBL Bank ESAF Bank Cashfree Payments EnKash #BFS #BFS25 #lending #digitallending #payments #digitalpayments #regtech #insuretech #wealthtech #ondc #crossborderpayments #realtimepaymens #securedlending #unsecurelending #AIML #generativeai #agenticai #ML #upi #banks #nbfc #insurance #wealth #securities #kyc #AML #muleaccounts #frauds #risk #compliance #governance #dpdp #dataprivacy #consentmanagement #tokenisation #cybersecurity #cloud #data #dataanalytics #datagovernance

Guess, which Indian sector is the hot favourite of cybercriminals, and why? Some eye-opening facts:?????? India's fintech revolution has been nothing short of remarkable. In just a few years, we've gone from a largely cash-based economy to one where #digitalpayments are the norm.?? #UPI transactions have skyrocketed, with over 100 billion transactions last year alone. Digital lending is at an all-time high.?? Fintech #startups are disrupting traditional #finance, offering innovative solutions to millions of previously underserved Indians. But as they say, with great growth comes great challenges. The rapid pace of fintech adoption has also opened the door to increased fraud and misuse. The Reserve Bank of India (RBI) has taken notice, cracking down on firms for non-compliance and supervisory concerns. So what's behind this surge in #fintech fraud? A few key factors:? ??Weak KYC processes: India's biometric ID system, Aadhaar, is not always reliable for verifying identities. Fake merchant accounts are easy to set up with minimal documentation. ??Legacy banking infrastructure: Traditional banks are struggling to keep up with the flood of small digital transactions. Fintech firms use "nodal accounts" as shock absorbers, but this opaque system makes it hard to track who is moving money where. ??Lack of oversight: The National Payments Corporation Of India (NPCI), which runs UPI, is a monopoly. With no competition & most transactions free, there's little incentive to invest in security upgrades. ??Regulatory challenges: The RBI is playing catch-up, trying to license fintech firms as payment aggregators for oversight. But the fast-moving industry is always one step ahead. The good news is that solutions exist. Strengthening KYC, modernizing banking tech, and introducing competition in payments could go a long way. But it will take coordination between fintechs, banks, & regulators to get there. India's fintech revolution has been a game-changer for financial inclusion. But to keep the dream alive, we need to get serious about #fraudprevention. The future of digital finance depends on it. #Legalissues #Compliance #FinancialServices #regulations #Cybercrime

Fraud prevention is a critical responsibility for fintech players, especially when serving financially vulnerable communities in rural India. Even a small amount like ?500 lost from a customer’s account can have a significant impact. In this conversation, I explain how a zero-trust approach from product design can help mitigate fraud, why collaboration among fintech players, #regulators, and government bodies is essential, and how advanced technology plays a crucial role in #fraud detection and prevention.? Tune in to the full video to learn how fintech can build a safer, more trustworthy ecosystem for #ruralIndia.? Sugandh Saxena (Fintech Association for Consumer Empowerment (FACE), Sunil Kulkarni (BUSINESS CORRESPONDENT FEDERATION OF INDIA), and Anand Kumar Bajaj (PayNearby). Ramesh Venkataraman Venkatram Jayanthy Rashmi Aggarwal CA. SUNIL KAPOOR MRUTYUNJAY MAHAPATRA Ram Rastogi ???? Rohit Ahuja Harsh Mittal sameer nagpal Usha Murali Kuldeep Pawar Atul Tiwari Watch the full video here: https://lnkd.in/dnDDXi4C #FintechForBharat #FraudPrevention #DigitalTrust #BridgingBharat

India is at the forefront of the global fintech revolution, and the government is taking significant strides to ensure a secure and responsible digital financial landscape. By implementing key FATF recommendations and issuing guidelines for payment processors and virtual asset service providers, India is proactively addressing potential risks like money laundering and terrorist financing. These regulatory measures not only safeguard consumer interests but also contribute to the overall stability of the financial system. Moreover, by adhering to international standards, India is positioning itself as a global fintech hub, attracting international investments and fostering innovation. Let's work together to build a secure and innovative digital future. #M1NXT #TadeTalk #IndiaFintech #FintechIndustry #FintechRevolution #DigitalFinance #SecureDigitalFuture #FATFCompliance #FintechInnovation #DigitalTransformation

FedNow – UPI’s American Cousin! FedNow ( US - Launched in 2023) and UPI ( India - Launched in 2016) are both real-time payment systems! Though they share the goal of instant transactions, they differ significantly! While UPI allows real-time payments , has 24/7 availability and manages multiple bank accounts, we must remember it is not used just by the good guys! Bad actors also have access to the same system. UPI Fraud Up by 85% in FY2023-24: Finance Ministry Data Presented in Lok Sabha We are in a scamdemic currently- Gloablly! But, therez light! multiple beams of light .. the latest one thats buzzing around is the Granny keeping Scamsters busy! Granny is AI-Daisy created by O2! She keeps scamsters busy :-) ( Video link in Comments) Challenge to you: Which is better - FedNow or UPI and Why? post response through your comments. #scamdemic #grannyAI #UPIFraud

Bipin Preet Singh, MobiKwik looks at the way in which the government, regulators and industry can collaborate towards healthy growth of India's fintech sector. "FM's recent meeting with regulators and fintech leaders identified critical areas for collaboration. Two particularly promising initiatives: Simplification of KYC processes. Focus on cybercrime within the upcoming Digital India Act." Read the full article at the link: The Economic Times https://lnkd.in/ggiCF7d6

Regulators are devoting substantial time, recognising that the time has come to explore how technology and finance can collaborate to create the financial instruments of tomorrow. This formed the central theme of discussion when Professor Rajat Moona, Director of the Indian Institute of Technology Gandhinagar, shared his views on building skills in the fintech sector at the inauguration of the GIFT International Fintech Institute. Citing a couple of examples of how technology has revolutionised the financial sector, Professor Moona explained the impact of fintech: it has accelerated transactions and processing times to microseconds and milliseconds, enabling instant money transfers. Gone are the days of queuing for hours in crowded banks. Many people will likely have less than ?100 in their wallets as one can scan a QR code and pay on the go. This powerful technology seamlessly transfers money from one account to another. Setting the context, Professor Moona said, "Cyber security, finance – there are many areas where technology can aid finance, and vice versa. Our engineers often lack an understanding of finance, while those with a background in finance may not grasp the complexities of technology. This initiative aims to bridge this gap by highlighting the limitations of one domain and the strengths of the other, showing how the other system can augment these limitations.." #AhmedabadUniversity?#GIFTIFI?#FinTech?#IITGandhinagar?#FinTechInstitute?#FinancialTechnology?#UCSanDiego