India FinTech Awards (IFTA), organised by India Fintech Forum, a non-profit initiative that offers a platform for fintech companies to collaborate and voice their opinions on the relevant policy issues, has flagged the companies that it believes are leading the fintech innovation wave in 2020.
And here´s the list:
- Fintech Startup of the Year – Simpl (India)
- Fintech Rising Stars
- AssetVault (United Kingdom)
- Khatabook (India)
- Nearby Technologies (India)
- Fintech Scaleup of the Year – ClearTax (India)
- Best Fintech Consumer Lender – Simpl (India)
- Best Fintech Business Lender – Lendingkart (India)
- Best International Fintech in India – ADVANCE.AI (Singapore)
- Best FinTech Ecosystem Partner – Rainmatter Capital (India)
- Financial Inclusion Initiative of the Year – Khatabook (India)
- Excellence in Payments – Paytm (India)
- Best Use of AI in Fintech – Flow (Singapore)
- Best Use of Blockchain in Financial Services – CoinDCX (India)
- Best Innovation in RegTech – Signzy (India)
- Best Innovation in Wealth Management – Upstox (India)
- Best Technology Company for Fintech Solutions – Novopay (India)
- Excellence in InsureTech – ACKO General Insurance (India)
- Most Innovative Fintech Product – Razorpay (India)
Vijay Shekhar Sharma, Founder and CEO, Paytm was felicitated as Fintech Leader of the Year, and Sucharita Mukherjee, CEO and CO-Founder, Kaleidofin was celebrated as Woman Leader in Fintech for their leadership in fintech policy advocacy and contribution to the growth of the fintech ecosystem.
It was a four-month IFTA process which culminated with recognising the most innovative companies in a number of fintech and allied fields. The companies selected have shown great potential despite the challenges posed by the new normal.
Keynote Speaker Dr RS Sharma, Former Chairman, TRAI discussed Aadhaar’s impact in enabling fintech innovation, and digital diplomacy where India can help other countries set up platforms like Aadhar. He said: “We have billions of DBT transactions. The LPG cylinder subsidy itself constitutes more than a billion transactions per year. One can imagine the scale at which fintech has worked.”
Nitya Sharma, Co-founder and CEO of Simpl and winner of Fintech Startup of the Year added: “We are both happy and proud to be awarded Fintech Startup of the Year, as an acknowledgement of the hard work we have put into building a product that completely reimagines the payment experience, both for merchants and consumers.”
More than 1,000 fintech companies and over 20,000 individuals who are members of this forum, are dedicated to enhancing the ecosystem to ensure that India leads the global fintech innovation wave. Indian fintech firms have unique opportunities with the India Stack which are not available anywhere else in the world.