Fintech

FinTech

Centre of Entrepreneurship, Chennai

With the rapid growth of Digital Technologies and their influence on day-to-day life of the common man, the technology landscape of financial domain is undergoing a massive change. While this change is intended to bring in ease to the end users, it faces an equally complex challenge of Security and scale. The need of the hour is to comprehensively address both the challenges namely, "Usability" on one hand and "Scalability & Security" on the other.

FinTech solutions hold enormous potential benefits to all business, especially new and existing small businesses. SMEs are crucial for economic growth and jobs but face difficulty in securing the funding support required to survive and grow.

FinTech offers solutions that are efficient and effective at lower scale and benefit small businesses and provide them with increased access to more diverse funding options. Innovative FinTech products can be better tailored to the needs of the SMEs. These include marketplace lending, merchant and e-commerce finance, Invoice finance, online supply chain finance and online trade finance.

By reducing information asymmetry in the marketplace, FinTech is not only improving the ability to match investors, lenders and borrowers but providing a more level playing field that allows retail investors to have greater participation in the market. FinTech is allowing people to conduct transactions though their mobile phone or tablets, improving efficiency and the customer experience.