In a year that has been fraught with challenges for many, leading compes including Amazon Pay, PayU, HAPPY, WazirX, CashRich, and TransUnion CIBIL came together to celebrate global fintech excellence at IFTA 2020.
The entire assessment framework was developed and managed by Deloitte and MEDICI. India FinTech Forum presents compes that are leading the fintech innovation wave in 2020:
* Fintech Startup of the Year - Simpl (India)
* Fintech Rising Stars
o AssetVault (United Kingdom)
o Khatabook (India)
o Nearby Technologies (India)
* Fintech Scaleup of the Year - ClearTax (India)
* Best Fintech Consumer Lender - Simpl (India)
* Best Fintech Business Lender - Lendingkart (India)
* Best International Fintech in India - ADVANCE.AI (Singapore)
* Best FinTech Ecosystem Partner - Rainmatter Capital (India)
* Financial Inclusion Initiative of the Year - Khatabook (India)
* Excellence in Payments - Paytm (India)
* Best Use of AI in Fintech - Flow (Singapore)
* Best Use of Blockchain in Financial Services - CoinDCX (India)
* Best Innovation in RegTech - Signzy (India)
* Best Innovation in Wealth Management - Upstox (India)
* Best Technology Company for Fintech Solutions - Novopay (India)
* Excellence in InsureTech - ACKO General Insurance (India)
* Most Innovative Fintech Product - Razorpay (India)
Vijay Shekhar Sharma, Founder and CEO, Paytm was felicitated as Fintech Leader of the Year, and Sucharita Mukherjee, CEO and CO-Founder, Kaleidofin was celebrated as Woman Leader in Fintech for their leadership in fintech policy advocacy and contribution to the growth of the fintech ecosystem.
Keynote Speaker Dr RS Sharma, Former Chairman, TRAI discussed Aadhaar's impact in enabling fintech innovation, and digital diplomacy where India can help other countries set up platforms like Aadhar. "We have billions of DBT transactions. The LPG cylinder subsidy itself constitutes more than a billion transactions per year. One can imagine the scale at which fintech has worked," he said.
"We are both happy and proud to be awarded Fintech Startup of the Year, as an acknowledgement of the hard work we have put into building a product that completely reimagines the payment experience, both for merchants and consumers," said Nitya Sharma, Co-founder and CEO of Simpl and winner of Fintech Startup of the Year.
"The quality of work and presentations by the Fintech startups is commendable. Beyond a great idea and team, there is a need to constantly refine the business model and ensure a robust funding runway," said Dr Ganesh Natarajan, Chairman, 5F World, and esteemed member of India FinTech Forum's Advisory Committee.
Past winners of IFTA include well-known names like Capital Float, ZestMoney and Valocity Global, and have cumulatively raised over 1.5 billion USD in funding from till date. Global fintech thought leaders Paolo Sironi, Global Research Leader, IBM and Susanne Chishti, Founder, The Fintech Circle discussed fintech startup ecosystem and platform economics.
"We're very interested to build a bridge between India and the UK and to co-invest in the best fintech compes globally, and help compes move across borders because fintech is a global sector," said Chishti.
"IFTA 2020 maintained its 5 year old tradition of bringing the most innovative Fintech compes on one platform. Several industry thought-leaders came together to share insights on topics ranging from super-apps to the rise of neo-banks, innovations in digital lending, crypto as an asset class and much more," said Sougata Basu, Founder, CashRich and Executive Committee Member of India FinTech Forum.
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( With inputs from ANI )
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