Summary of Presentation:
This lecture was delivered by Mr. Sharad Agarwal, CEO of FinTree Finance Pvt Ltd. He has over 20years of experience in Digital Technology, Operations, Customer Service, in banking, financial services and insurance sector. He is currently the CEO of the Fintech start-up which was established in December 2018.
The talk started with Mr. Sharad giving a brief idea about the GDP and how its going down despite the increase in consumption demand, digitalisation and urbanisation. He also said how hardware cost is reduced, consumer consumption is going to increase by 4 times by 2030, due to the evolution in digital landscape. He also briefed us regarding the fintech start-ups evolution due to evolvement of technology in fields starting from bill payments to bookings. FinTech companies have established themselves in many categories, such as payment, lending, insurance, personal finance management etc. He informed that many new companies have joined the Unicorn club i.e., firms having 1-billion-dollar revenue.
We also came to know about few factors leading to the fintech start-ups growth (both resources and market factors) and the pillars for growth of this sector, and how MSME’s are helped due to these start-ups and also investors prefer FinTech companies due to valuation of money and also the concept of P to P lending.
The talk further put some light on the evolution of Indian FinTech Ecosystem and how MSME’s are helped by them as they provide them with easy access to loans even if they have minimal documents or collaterals. We also learned about FinTree’s value proposition, how it’s the new age impact lender and its easy access to loans, and flexible EMIs and they help the MSME’s to enter a structured credit scheme and enter the Tier II/III cities. FinTree uses Automatic Collection Process and Unique ‘Tech and Touch’ model to do its collection business and ensure customer payment. Its branding and marketing are done through social media, door-to-door marketing and also by cold calls. Some competitors are Fino, ClixCapital, Kotak, etc.
So, overall the whole lecture made us aware how a FinTech start-up is actually is and what all opportunities it has and one can use his/her knowledge to get a career boost in this field. And also, how FinTree has established itself in today’s market among its competitors by the hard work of the team members and by the development of some new technologies and systems that they have adapted to.