30
Nov
2018
2

Oz Forensics from Russia bags the prestigious Fintech Startup of the Year trophy at India FinTech Awards (IFTA) 2018

India FinTech Forum organized India FinTech Awards (IFTA) 2018, the most prestigious fintech awards in India, on 30th November, 2018 at Mumbai.

After 20 innovative fintech product demos, Oz Forensics from Russia won the prestigious Fintech Startup of the Year trophy and a cash prize of INR 1 lac sponsored by Perfios. As part of the award, Oz Forensics will get an opportunity to showcase their product at LendIt Fintech USA 2019 in SanFrancisco, which is one of the world’s leading events in Financial Services Innovation.

Government of Maharashtra was the Chief Strategic Partner, and the event was hosted at the iconic Bombay Stock Exchange (BSE). IFTA 2018 saw the participation of startups and delegates from over 10 countries. Medici was the Strategic Partner and helped in selecting the top 20 fintech startups from over 250 applicants. These finalists showcased their product in front of the panel of judges and industry leaders to compete for the IFTA Startup of the Year 2018 award. Knowledge Partner Ernst & Young managed the entire evaluation process to arrive at the IFTA 2018 winners.

Shri J A Chowdary, Special Chief Secretary & IT Advisor to the Chief Minister, Govt. of Andhra Pradesh,India said, “We have not even scratched the surface of the ocean in fintech. There are lot ofopportunities in financial inclusion, fintech in healthcare, in education, in agriculture, fintech in government. There is so much to do in fintech here. I think it is a great time for the entrepreneurs, forstartup companies, even for multinational fintech companies for the Indian market.”

Mr. Mahesh Makhija, Partner and Leader, Digital and FinTech, EY said, “I’m very happy to be here atIFTA today. We’re launching a couple of things at IFTA. The first is the EY India Fintech Compendiumwhich has all the top use cases that fintechs are working on today. The second is the EY India Fintech Hub, an online collaboration portal where fintechs can lay out their solution, see what EY India has tooffer and we’re building a community around that so banks can also be a part of that portal.”

Ms. Louise Smith, Head of Design and Transformation, RBS said, “India FinTech Forum engages thefintech community really well, and actually facilitates collaboration. Therefore, each year this community is growing. I am excited about India to actually see more people talking about building a business, notjust building tech or building proposition.”

SP Jain School of Global Management, in association with other eminent industry members, is establishing Association for Emerging Technologies in India (AETI). Mr. Vikram Pandya, Director – Fintech, SP Jain School of Global Management spoke about AETI at IFTA 2018.

Winners at IFTA 2018

IFTA Fintech Rising Stars:

The following three startups won the Fintech Rising Star trophies:

  • Appnomic Systems, India
  • Hydrogen, USA
  • Ezetap, India

Category Awards at IFTA 2018:Sucharita Mukherjee Co-founder & CEO, Kaleidofin Private Limited received the award in the Woman Leader in Fintech category, while Dilip Asbe, MD & CEO, NPCI was recognized as the Fintech Leader of the Year. PolicyBazaar won the Best Fintech Marketing Campaign and Royal Bank of Scotland bagged the Most Innovative Bank of the Year award.

Most Innovative Fintech Product award was bagged by vPhrase, and Value3 Advisory in the lending category. The Financial Inclusion Initiative of the Year was awarded to PayJoy, and Eduvanz in the lending category.

Mr. Manav Jeet, MD & CEO, Rubique and member of the Strategy Policy Committee of India FinTechForum said, “The essence of fintech is how you are going to use technology, whether it is machinelearning, AI or blockchain, to ease out end consumer’s pain.” He also said, “Fintech is evolving in India. This is a great platform to exchange ideas, understand each other’s pain areas, and how we can collaborate with each other, because that is the need of the hour.”

27
Oct
2018
0

India FinTech Awards 2018: Here are your Top 20 fintech startups

The India FinTech Awards (IFTA) is a unique initiative by the India FinTech Forum (IFF) to recognize the best emerging FinTech innovations in the thriving Indian ecosystem. The award, in its third edition, provides a prestigious platform for FinTech firms to showcase their disruptive products, combine it with a sales pitch and engage a curated audience of investors, bankers, entrepreneurs, media, and corporate leaders.

The IFTA is the premium FinTech event in India bringing numerous prestigious partners like EY, Royal Bank of Scotland, Bombay Stock Exchange, S P Jain School of Global Management, CNBC etc. to support it.  The Government of Maharashtra is the Chief Strategic Partner to the latest edition of IFTA.

After diligent and careful evaluation, Strategic Partner MEDICI has narrowed down the top 20 FinTech startups that will be pitching on November 30, 2018, at the BSE International Convention Hall in Mumbai. After 20 product demos by leading FinTech firms from all across the globe, one startup will be selected as the FinTech startup of the Year at the India FinTech Awards 2018. The winning startup will get an opportunity to demo at LendIt FinTech 2019 in San Francisco, USA.

Here’s a brief description of the top 20 startups selected to demo at IFTA 2018.

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13
Aug
2018
0

Why Cryptocurrency Is A Daunting Investment

The rise of cryptocurrency has been one of the most interesting stories of the last several years in fintech. 2017 marked the first year in which we really saw significant gains in crypto values that could result in widespread investment rewards though. It’s true that some of the earliest investors, such as the Winklevoss twins, might have made a fortune even before 2017 by buying into bitcoin in large quantities when it was worth less than a dollar. This is why the Winklevoss twins earned a mention in our look at the crypto kings, and why their name has become synonymous with fintech. But for the most part 2017 was the first time we saw major gains for average investors, many of whom profited when bitcoin and other cryptocurrencies spiked dramatically throughout the year, and particularly in November.

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26
Jul
2018
0

Competition is healthy for innovation

Competition drives innovation and is also one of the primary ingredients for success in any domain. Disrupting technologies, innovation and out of the box thinking are drivers of growth for the modern businesses and more so, for the FinTech sector. Currently, the FinTech industry is at crossroads in India. While it is no surprise that the government is cautiously watching the FinTech segment, it must look at the innovation & potential for change that the FinTech businesses can bring into the finance industry. Every industry witnesses a period of technological transition that completely transforms the way business is conducted in the industry. The advent of FinTech may exactly provide the spark to transform and revolutionise the financial sector. So it is for the government to make sure that they create a healthy environment where FinTech companies can offer unique solutions for the existing market needs.

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23
Jun
2018
0

Fintech and the Role of Regulations in India – In conversation with Mr. R Gandhi, Ex. Deputy Governor, RBI

Perfios, in association with India Fintech Forum, organized a session on the topic – Fintech and the Role of Regulations in India. The event was organized on Monday, the 28th of May, 2018 at the Perfios’ office, HM Vibha Towers, Koramangala. The discussion was led by Mr. R Gandhi, Ex. Deputy Governor, Reserve Bank of India. The event was attended by various fintech CXOs.

The key discussion points were the following:
• The role of Fintech in the industry and why it is unlikely to replace the conventional banking system.
• The need for regulation in the business.
• What kind of regulations are in place or are coming up in the near future

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19
Jun
2018
0

The Crypto Kings

The year was 2009 when Satoshi Nakamoto created Bitcoin, the first decentralized cryptocurrency. Many other cryptocurrencies have been created ever since, and are commonly known as alternative coins, or altcoins.

Formal Definition Of Cryptocurrency

According to Jan Lansky, a famous cryptocurrency researcher, cryptocurrency can be defined as a system which must meet six conditions.

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31
May
2018
0

ICO Roundups: The Newest Trend For Startups

When the Bitcoin was introduced by Satoshi Nakamoto in 2008 in a paper called Bitcoin: A Peer-to-Peer Electronic Cash System no one expected that it would become a worldwide payment system. It was decentralized in 2009 and from then it has skyrocketed to reach an exchange rate of a record $19,783 in December of 2017.

In 2013, Mastercoin held the first token sale and it has gained a huge popularity ever since. In this article we are going to present a brief introduction to ICO.

What Is ICO?

ICO, short for Initial Coin Offering, is a revolutionary way of crowdfunding. It is centered around cryptocurrencies which have become a source of capital for startups nowadays.

How Does It Work?

In order to get a legal tender, or Bitcoin or Ethereum, a quantity of crowdfunded cryptocurrency is sold to investors in the form of tokens. The tokens are promoted as future functional units of currency if the funding goal is reached and the project is launched.

A Brief History of ICO

As we mentioned earlier, it all started in 2013 with the first reported ICO conducted by Mastercoin. In the same year, Btxchange.io reports that Ethereum raised 3,700 BTC/$2.3 million in the first 12 hours with a token sale, and in 2015 Karmacoin held an ICO for its Karmashers project.

The following stats will help you realize how big ICO actually is. In 2016, 54 major ICOs raised almost $103 million, and in the following year 92 major ICOs raised $1.25 billion, which is an enormous jump from the previous year.

The following list contains the advantages of ICOs.

  • ICOs are open to the public.

  • People can help shape the future of the crypto ecosystem.

  • Token can be bought at a low price.

There are several disadvantages as well.

  • Investing in ICOs may be risky.

  • The majority of ICO investors are enthusiasts.

  • ICO is no regulated by any rules or registered.

These are just some of the interesting facts about ICO roundups. To find out more about the newest trend in funding, please take a look at the infographic which follows.

URL: https://btxchange.io/ico-roundups-infographic/

12
May
2018
0

The Blockchain Is Booming

Fintechs have been getting a lot of attention lately, and it is hardly surprising since they offer us new and innovative products that make life so much easier. The Fintech that has probably made the biggest splash in the last decade is definitely blockchain. It is what makes it possible to spend your Bitcoin.

But, that is only a very tiny application of the technology. In the real world, we need to access information faster and more securely. We want to verify manufacturer’s claims about where they source their items. We want better ways to track information.

Blockchain can be extremely helpful in this arena as well. Imagine being able to access a worldwide database that contained details of the credentials of every person who had attended schools that subscribed to some particular service. The folks over at BitFortune.net explain how all this can be done and more, with the right application of blockchain tech.

We are not talking here about user created details, but data that would be added by the institutions themselves. There are already people working on this to make it possible.

Why would it be important? It would allow prospective employers, learning institutions, etc. to confirm that the educational details that an applicant is claiming to have are legitimate.

The same idea could be applied across various industries. How about for tracking parcels, for example? Or tracking whole shipments?

The blockchain technology is about a lot more than simple cryptocurrency applications. Sure, it works well as a base for financial transactions, but there is a lot more to it than that.

For starters, the chain is incorruptible – you could not erase data even if you wanted to – there would always be a record.

Secondly, it is autonomously operated by the members of the network. If, for example, the government of China wanted to shut Bitcoin down, that would not be possible because the chain is free of any single entity control.

Unlike most things online, blockchain makes it possible to create instant trust between two parties – whether that is in exchanging money or data