BW Businessworld’s Latest Edition Explores Into India As A Fintech Nation

The fintech ecosystem in India is a flourishing and expanding sector that leverages technology to offer businesses and consumers innovative financial services and solutions.

The latest edition of BW Businessworld, dated July 29, 2023, delves on how India's fintech ecosystem is leading the global narrative. The fintech industry in India is positioned for substantial advancement, increasing financial inclusion and redefining how financial services are procured and offered across the country. It is also projected that the global fintech economy is expected to grow to $1 trillion by 2030.

India securing the third position worldwide with an impressive tally of 9,646 fintech companies, the dynamic environment stands as a testament to the relentless drive and creative thinking of entrepreneurs propelling the industry towards progress.

India’s Fintech Triumph

In the third edition of the 'BW Festival of Fintech,' BW Businessworld focused on tracking the pioneers of the fintech industry, as it is projected to reach a market size of over $150 billion by 2025. The nominations went through a multi-tier screening process, and the winners were identified based on the evaluations.

The winners were divided into two categories in which one category awarded fintech companies and the second category awarded the leaders in the fintech industry. BharatPe; Axio; Revfin; mPokket; Arth; PhonePe Insurance Broking Services; National e-Governance Services (NeSL); Riskcovry InsurTech; PolicyBazaar.com; Zaggle, Winvesta; PhonePe; Mudrex; Zolve; Veefin Solutions and Presolv360 emerged as the winners of the fintech companies. Zolve also received a special mention in the category ‘Fintech of the Year’. The winners in the leaders of the fintech industry included names such as Gautam Udani, Co-founder & Director, Veefin Solutions; Karan Mehta, Founder & CTO, Ring; Binny Shah, Head of Product, Veefin Solutions and Jaya Vaidhyanathan, CEO, BCT Digital. For Fintech Leader of the Year, Sameer Aggarwal, Founder and CEO of Revfin, and Yashish Dahiya, Chairman and CEO of PB Fintech, received special mention in the people category.

Social Media Showdown

The issue also looks at the newest entrant in the world of social media, Threads by Meta, which made a stir with 30 million signups in less than 18 hours of its launch and 100 million sign-ups in a period of 7 days. Similar to Elon Musk’s Twitter, the new social media platform of Mark Zuckerberg’s Threads also provides conversation via texts but with more immersive features. Moreover, within a week, Twitter’s traffic was also seen slowing, according to reports. The dynamics of both social media platforms have similarities as well as differences. However, it is too soon to say who wins the race. 

Adding to it, this issue also covers the telecom industry as India is making the transition to 5G networks at a breakneck speed. However, at the same time, tens of millions of subscribers are facing a challenge with frequent call drops, bad network connection, sub-standard voice quality, and slow internet speeds. This edition highlights the explosive growth of data consumption of active internet users that has led to an increase in network congestion. It draws a line between the pros and cons of 5G networks and the active users of the internet today. 

The issue also includes thoughts of Thampy Koshy, CEO of ONDC in the last word section on the fast-forward growth of the digital public good through digital public infrastructure, the government’s role in it, and more.  

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About BW Businessworld

BW Businessworld, with its 43 years of legacy, is the fastest growing 360 degree business media house in India. With a network spanning across 23 niche business communities and 10 magazines, BW Businessworld is proud to be entrenched in various verticals in the domestic as well as global business, that organize conferences and forums to facilitate interaction between sectoral business leaders and create a conducive environment for collaboration. All BW issues are also fully digitally covered, including online stories and video stories and eMagazine is also available for every issue.