3 Ways of building a fintech in India | Startup | Sarthak Ahuja

There are 3 paths to building a FinTech startup…

I feel there are primarily 3 types of problems to solve in finance…

1️⃣ Distribution: Go by the stat that India has over 96% of the population underserved in terms of credit and investment options, and using tech they can be given access.

But look at your banks like SBI who have more number of customer accounts than WhatsApp users in the country, probably like 35% of the entire population.

And with their YONO app, they have the tech stack in place for transactions, credit, investing, possibly shopping too…

So how does a new startup compete with a 200 year old mammoth that also has its own tech capabilities to match?

2️⃣ Tech led Efficiencies: Building tools to make the banking process more seamless - think eKYC, credit risk assessment, BNPL infra…

The Indian government launched UPI, Aadhar KYC, BHIM, Account Aggregators, now even OCEN…

The public infrastructure is so good that it eats everyone’s breakfast, lunch, dinner

3️⃣ Education led Trust: given how complex subjects of finance, investment, insurance are to the masses, one could solve the communication piece saying I’ll make it the simplest for the end consumer from my content… build trust… and then get them to transact…

But if they really want, for Bharat, nothing does it better than Doordarshan and Radio - they can literally eat your dessert too

👉🏼 Now, with all historical examples, I think the public infrastructure is so good when it comes to payment tech that all Indian FinTechs don’t just compete with each other but with the government, who can wipe them off with one single move… and it has… all in the interest of the end consumer.

👉🏼 So for one to really build a FinTech product for the other Western nations

👉🏼 Regardless, I feel B2B SaaS is a better category to build
---------------------------------------------------------------------------------------------
Click here to subscribe to my YouTube channel: https://bit.ly/3cpTleK
-------------------------------------------------------------------------------------------------------------------------

Like, Share, Subscribe for more!

Follow me on my other social media handles for all updates, events and live sessions-
Instagram: https://www.instagram.com/casarthakah...
LinkedIn: https://in.linkedin.com/in/sarthak-ah...
Website: http://www.casahuja.com/
-------------------------------------------------------------------------------------------------------------------------

A Chartered Accountant with about 10 years of experience in areas of Tax Advisory, Startup Consulting, Fundraising, Audits, Deal Advisory, Business Modelling and contract CFO services.

Winner of the ISB Young Leader Award 2017 and the Best All Rounder, PGP Class of '17, Sarthak has also been published about in the leading financial newspapers such as The Financial Express as possibly the youngest Indian to have completed the courses of CA, CS and CMA along with a graduate degree in Financial & Investment Analysis from University of Delhi, all by the age of 23 years.

Видео 3 Ways of building a fintech in India | Startup | Sarthak Ahuja канала Sarthak Ahuja