Fintech Roles
By year 2020, each role in Financial Institutions will have “Fintech” embedded into it. There is absolutely no possibility of any role remaining independent of tech. Sales, Marketing, Compliance, Treasury, Operations and everyone else will embrace this. Either we accept the change now or get ready to face challenges. Feel free to comment. I will […]
Are you Inspired by Fintech Founder’s Success Story?
Its easy to get inspired by the success of Fintech founders as published in media (post funding!!!). Its another thing to do the kind of work that they do in the initial phases… That is the phase…. – when no one trusts them.. Sometimes they themselves doubt their own capabilities.. – when regular 6 / […]
Impact of Fintech revolution : HR function to get revamped
HR in India’s Banking world has largely been focused on hiring and basic training as it handled massive business growth. With Digital enabling higher performance without proportionate increase in resources, the actions on HR would change with focus on: – Hiring Digitally savvy professionals across all units (not just in technology and digital units). Many […]
Building Fintech + Financial Institution
There has been lots of talk around technology teams working in Bimodal way (transformational as well as Business as Usual). I believe that this approach would not go beyond a point. Technology teams are part of digital initiatives and not the only driver of change. I believe that the entire organisation has to work in […]
Mumbai as Fintech Capital of Asia : Education First
As an underpinning of any revolution, education system needs to be aligned to focus on that area. As we work on making Mumbai “The Fintech Hub of Asia”, there is a massive need for educating the industry partners as well as students on Fintech. We have started our journey to support this bigger cause by […]
Financial Institutions will morph into Fintech Financial Institutions
Financial Institutions will morph into Fintech Financial Institutions by: – Collaborating closely with Fintech to co-build new capabilities – Competing with Fintechs by investing in in-house Tech, creating digital culture and creating Digital KPIs – Strategically investing in Fintechs / Software firms focusing on innovation, speed and future potential – Acquiring Fintechs as well as […]
Technology integration is the Elephant in the Room
Fintechs – Get Ready for Technology Integration with Banks o Technology integration is the Elephant in the Room. This is complex and costly affair for banks as well as Fintechs. This process is normally iterative and lack of clarity generates sense of despair on both sides. o Before approaching the bank, Fintechs may document end […]
Open Innovation – Creating Fintech Partnership Team
When Fintechs reach out to Banks and NBFCs & they sometimes get confused with fancy designations and confusing mandates of each person. Suggestion is to create a Single Fintech Partnership Team to Interface with Fintechs / External Partners. This team should participate in external forums and should be easily contactable. The team should have participation […]
Fintech inside the Bank
Banks need to setup a “Fintechs” within their organisation to drive Digital Initiatives like API Banking, Digital apps. Hackers inside the bank will drive the change fast… Hiring entrepreneurs and giving right environment would be key for this approach. Imagine 3 teams competing for creating API Banking Layer, 2 teams creating mobile app, 4 teams […]