Meet the Fintech companies leading the innovation wave even in the aftermath of a global pandemic

  • The 4-month IFTA process culminated with recognising the most innovative companies in a number of fintech and allied fields
  • These companies have shown great potential despite the challenges posed by the new normal
  • 50+ industry thought leaders evaluated companies and the process was managed by Deloitte

In a year that has been fraught with challenges for many, leading companies 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 companies that are leading the fintech innovation wave in 2020:

  • Fintech Startup of the Year – Simpl (India)
  • Fintech Rising Stars
  • 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. He said, “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.”

Nitya Sharma, Co-founder and CEO of Simpl and winner of Fintech Startup of the Year 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.

Dr. Ganesh Natarajan, Chairman, 5F World, and esteemed member of India FinTech Forum’s Advisory Committee said, “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.” 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 Mr. Paolo Sironi, Global Research Leader,  IBM and Ms. Susanne Chishti, Founder, The Fintech Circle discussed fintech startup ecosystem and platform economics. Ms. Chishti said, “We’re very interested to build a bridge between India and the UK  and to co-invest in the best fintech companies globally, and help companies move across borders because fintech is a global sector.”

Sougata Basu, Founder, CashRich and Executive Committee Member of India FinTech Forum said, “IFTA 2020 maintained its 5 year old tradition of bringing the most innovative Fintech companies 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.” 


About India FinTech Forum: India FinTech Awards (IFTA) is organised by India Fintech Forum, a non-profit initiative that offers a platform for fintech companies to collaborate and voice their opinions on the relevant policy issues. More than 1000 fintech companies and over 20000 individuals who are members of this forum, are dedicated to enhancing the ecosystem to ensure that India leads the global fintech innovation wave. Indian fintech firms have unique opportunities with the India Stack which are not available anywhere else in the world.  

Website Link: www.indiafintech.com

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