Fintech
FinTech leaders highlight technology’s role in driving innovation and inclusion on National Technology Day
By Puja Sharma
Today
- Aadhar authentication
- digital payments ecosystem
- Financial inclusiveness
In the week of National Technology Day, FinTech industry leaders shared insights on the transformative power of technology to drive innovation and inclusion.
Anirban Roy from Financial software and systems (FSS) highlighted the importance of platforms in promoting growth and enabling financial inclusion. He highlighted the need for platforms to support the exponential growth expected in the Indian mobile wallet market.
Roy said, “National Technology Day is an important occasion that celebrates the extraordinary journey of innovations. These innovations have paved the way for a more connected and empowered future, a future where everyone is united under one platform. With the Indian mobile wallet market expected to be worth over ₹531.8 trillion by 2028, we need platforms that can build the infrastructure needed to support this exponential growth.
Platforms can change entire industries and the way we live. As we move towards a technology-driven future, we should understand that building technology is not enough; it must be built with intention and foresight, focusing on solutions that empower people and drive economic progress. FSS Blaze is an example of this, a platform built to leverage technological interventions and bring financial services to the unbanked and those who need them, promoting a more inclusive and prosperous future.”
Arun Nayyar, MD & CEO, NeoGrowth, “At NeoGrowth we believe in leveraging technology as a strategic tool to achieve business goals and impact. We are committed to achieving sustainable and profitable growth by seamlessly integrating technology into every aspect of our operations. From improving risk management and operational efficiency to delivering unparalleled customer experiences, we leverage digital innovation every step of the way. We have a well-integrated digital infrastructure; encompassing India Stack, Aadhaar authentication, GST, digital payment ecosystem and Account Aggregator Framework, we ensure a seamless and streamlined process for our customers.
Our technology and data-driven operational capabilities allow us to process nearly 90% of loans in just 3 days, demonstrating our ongoing commitment to speed and efficiency. This synergy between technology and business objectives is key to promoting an inclusive credit ecosystem, tailored to the specific needs of Indian MSMEs”
Nayyar emphasized the strategic use of technology to achieve sustainable growth and improve customer experience. NeoGrowth’s digital infrastructure, leveraging India Stack and other digital innovations, ensures a seamless process for customers, with nearly 90% of loans processed within three days.
Arpan Sahoo, Chief Operating Officer, KaleidEO She said, “India is at the forefront of the space technology revolution, with nearly 200 active space technology startups demonstrating our commitment to innovation and exploration. These advances hold promise in addressing humanity’s most pressing challenges.
Today, Earth Observation (EO) solutions exemplify how space technology helps us address diverse challenges in the field, ranging from defense, agriculture, financial inclusion, and sustainability, among others. As we celebrate National Technology Day, we reaffirm our commitment to providing futuristic technology solutions that enable decision makers, stakeholders and end users to meet the challenges of an ever-evolving world.”
Sahoo highlighted India’s leadership in space technology and the role of Earth observation solutions in addressing various challenges. KaleidEO focuses on democratizing access to data from space to empower decision makers across all industries.
Overall, these leaders highlighted the importance of leveraging technology to drive innovation, inclusion and sustainability in the FinTech landscape.