BENGALURU: As the country moves towards a $5 trillion economy, there will be a lot more tailor-made solutions for customers in the fintech space, say fintech founders. Talking about the world of fintech and digital payments at the Bengaluru Tech Summit (BTS), Nithin Kamath of Zerodha, Nitin Gupta of Uni cards and Harshil Mathur of Razorpay said the future of fintech looks very promising and lot more products can be developed for businesses.
In the last 10 years, fintech has played an important role in driving the digital ecosystem. The next step of fintech is to deliver customised and tailor-made solutions, said Harshil Mathur, co-founder and CEO, Razorpay.
In case of payments, the next thing is about coming out with payment solutions for tier-1 or tier 2 users. According to Mathur, the next step will be providing solutions that users or consumers need. Nithin Kamath, founder & CEO of Zerodha, said he lived the life of a customer for 10-12 years before starting his own company.
“The plan was to be a better broker. Things evolved and we were in the right place at the right time,” Kamath said. Kamath added that the younger generation trusts faster but not that loyal. “We know the older population (40+) will not move away,” Kamath said, stressing on the need to improve one’s offerings and products to build trust among users.
Talking about regulations in the fintech space, they said regulators have done a good job and they try to protect consumers. Mathur also spoke about the scope of payments business in the business space.
“Businesses are really waiting for the change. They are actively looking for digitalisation and in the next 5-10 years all aspects of the business ecosystem will be digitised,” Mathur said.
Payment Solutions
Next step of fintech is to deliver customised and tailor-made solutions, said Harshil Mathur, co-founder and CEO, Razorpay. In case of payments, next thing is about coming up with payment solutions for tier-1/ tier 2 users. He says the next step will be providing solutions that users need