| | SEPTEMBER 201719Consultants Reviewpersonalized customer experience becomes key.Collaboration ­ Not CompetitionThere is a need to understand where FinTech can add value to the banks and insurance companies and to work together to deliver results. The focus is on adopting more efficient process and practice and not technology per se. Even in the infrastructure space, there needs to be a re-examination of traditional platforms to replace them by technologies that enable the user-experience.Actionable Insights RuleThe need to create customer insights and relevant marketing messages and experiences is dependent on data. All interactions with the customer ­ the brand, advertising, marketing, channels and the user experience ­ will be driven by data. Finding an Accountable PartnerFinding an accountable partner is critical FUNDINGMOMENTUMFOR FINTECHECO SYSTEMIN INDIATotal investment$22 mnacross 12dealsTotal investment$40 mn across six deals within mobileand paymentsolutionsTotal investment$420 mn across36 deals. 31%of deals are early-stagefunding MARKET SIZEGlobal fintech software a$45-bn opportunity by 2020Indian fintech matketto grow 1.7 times by 2020to $2 bnPayment processing andtrading solutions willincreases market share from 46% to 55%Government, defence,media & entertainment, and telecom industry will generate more demand for fintech solutions by 2020201320142015Business Standard & NASSCOMin order to deliver the shifts in management thinking and driving the improvement in performance ­ an unintended consequence of the growth of FinTech.The advisor needs to be neither just a Technologist nor just a Banker ­ the need of the hour is a new breed ­ a Customer-Advocacy focused, Innovative, Insightful, FinTechnologist!
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