We are trying to promote both – Make in India and to an extent Digital India
Mrutyunjay Mahapatra
DMD – Digital Business & New Business – SBI
“Fintech is almost a synonym of .com. Now Fintechs comprise of companies starting from a two month old start-up to very large companies. There are four to five areas where 90% of the Fintechs are working – lending, payment, risk management and data analytics. Everybody believes that the venture bug has come and anyone can make money in this world. What we are observing in Fintech is that many of us are engaged in the so called valuation game but not the value creation game. This is the first problem. Now, Fintechs do not have the ability to scale up when it comes to experimenting a concept with a database of 100 or 200; the software works very well but at deployment it fails because the proper sandbox ecosystem in India is not available. So a reliable sandbox is not there.”
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