FinTech Hub
`Combining Finance and Technology
The word "FinTech" is a combination of the words finance and technology. This represents an evolution of the technology when applied to the back end of established consumer and trade financial institutions. FinTech is a dynamic segment of the financial services sector that is gaining significant momentum and disrupting the traditional financial services value chain. Investors have invested billions in FinTech start-ups in recent years. The majority of global financial services companies plan to increase FinTech partnerships, as investors recognize that the FinTech space generates real innovation and opportunity.
FinTech companies create an ecosystem that fosters the collection of vast amounts of data and builds trusted relationships with clientele. Financial Institutions have realised the importance of these ecosystems and are attempting to engage with and bring innovation inside their companies. However, FinTech is relatively new to the financial world of India, and New Town's Fintech Hub offers an incubation ground for this new concept.
Smart Infrastructure
Opportunities to look for at the Fintech Hub
Integrated Digital Banking
New startups are emerging to meet both customer and bank needs for channel integration and dynamic customer experiences that make banking easier to accomplish on the devices customers want to use (Cellphones/Tablets etc.). Large number of new age banks are only offering online services and passing on cost benefits to the customers
Digital Payments
Fintech start-ups are taking payments to the next level in terms of speed, convenience, efficiency and multichannel accessibility. They are driving client behaviour and creating expectations for better, faster and more innovative solutions across the payments spectrum, and making existing customer relationships with banks a lot more vulnerable than ever before.
Robo Advisory
Robo-Advisory is the use of algorithms to support the entire investing process from setting financial goals to portfolio re-balancing and monitoring whilst bringing more transparent, traceable, efficient and customer centric standards along the overall value chain.
Blockchain
Blockchain is a new technology that combines a number of mathematical, cryptographic and economic principles to maintain a database involving multiple participants without the need for any third-party validator or reconciliation.
Machine Learning and Artificial Intelligence
Artificial Intelligence is already around us and used every day within payments, money management and for robo-advice, particularly in the area of intelligent digital assistants that handle regular customer service enquiries and tasks,
Robo Advisory
Robo-Advisory is the use of algorithms to support the entire investing process from setting financial goals to portfolio re-balancing and monitoring whilst bringing more transparent, traceable, efficient and customer centric standards along the overall value chain.
Robotic Process Automation
RPA is dramatically streamlining a wide variety of back office processes in Financial Services companies.
Alternative Lending
These include crowdfunding, peer-to-peer consumer and business lending.
WHERE BUSINESS IS AS IMPORTENT AS BOATING
- 1Integrated Digital Banking
- 2Alternative Lending
- 3Robo Advisory
- 4Cyber and Financial Crime Prevention
- 5Digital Payments
- 6Machine Learning and Artificial Intelligence
Fintech Hub
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