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Simpl Bags the prestigious Fintech Startup of the Year

Fintech Leader of the Year 2020 goes to Vijay Shekhar Sharma at The India Fintech Award (IFTA) 2020

ClearTax won Fintech Scaleup of the Year; Khatabook won Financial Inclusion Initiative of the Year

ADVANCE.AI (Singapore) won Best International Fintech in India; Sucharita Mukherjee, CEO and CO-Founder, Kaleidofin Won Woman Leader in Fintech

Mumbai, NFAPost:  IFTA 2020 is organised by India FinTech Forum, a not for profit fintech advocacy group since 2016.

IFTA is an annual competition and platform to celebrate and recognise the best innovations from fintech companies around the world. The 5th edition of India Fintech Awards (IFTA) is a joint initiative supported by Amazon Pay, PayU, HAPPY, WazirX, CashRich, TransUnion CIBIL and Deloitte to celebrate global fintech excellence.

Simpl bagged the prestigious Fintech Startup of the Year trophy and The Fintech Leader of the Year award went to Mr. Vijay Shekhar Sharma, Founder and CEO, Paytm.

Five Indian Tech Start-ups have been crowned winners of the 5th edition of the Next Big Idea Contest. AssetVault  from UK and Khatabook and  Nearby Technologies from India have been crowned with Fintech Rising Stars award

Past winners of IFTA have cumulatively raised over $1.5 billion in funding from till date. The programme received over 600 applications from across the globe such as USA, UK, UAE, Switzerland, Sweden, Spain, Singapore, Sri Lanka, Norway, New Zealand, Netherlands, Ireland, India, Hungary, Hong Kong, Germany, France, Canada, Brazil, and Algeria.

27 high potential Fintech startups from over 20 countries were shortlisted to present live demos to a high-profile jury from 30th November – 2nd December 2020 to compete for the Fintech Startup of the Year at India FinTech Awards 2020 (IFTA).

The entire assessment framework was developed and managed by Deloitte and MEDICI. The application process kicked off in August 2020, and finalists underwent two rounds of shortlisting by an eminent panel of Judges with vast experience in the world of finance, technology and enterprise.

MEDICI launched its Banking-as-a-Service 2.0 report at IFTA 2020. Key highlights include factors driving growth, funding and investor activity and global landscape dissected by region.

Former Chairman TRAI R S Sharma discussed Aadhaar’s impact in enabling fintech innovation, and digital diplomacy where India can help other countries set up platforms like Aadhar.

He shared interesting anecdotes from his book The Making of Aadhaar: World’s Largest Identity Platform. He said Aadhaar provides a financial address where you can transfer money.

“We have billions of DBT transactions. Just the LPG cylinder subsidy itself constitutes more than a billion transactions per year. One can imagine the scale at which fintech has worked. I’m sure we will see more and more innovations to make the lives of customers easy.The ultimate purpose of innovation is to remove the pain point of the customer,” said

India Fintech Forum is proud to present the winners at IFTA 2020:

Fintech Scaleup of the Year – ClearTax (India)

Fintech Leader of the Year – Vijay Shekhar Sharma, Founder and CEO, Paytm

Woman Leader in Fintech – Sucharita Mukherjee, CEO and CO-Founder, Kaleidofin

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)

CashRich Founder and Executive Committee Member of India FinTech Forum Sougata Basu said IFTA has a tradition of bringing the most innovative Fintech companies on one platform.

“IFTA 2020 maintained its 5 year old tradition and had brilliant startup founders demo their product innovation. Several industry thought-leaders came together to share insights on topics ranging from super-apps to the rise of neo-banks, innovations in digital lending, crypto as an asset class and much more,” said Sougata Basu.

Global fintech thought leaders Mr. Paolo Sironi, Global Research Leader, IBM and Susanne Chishti , Founder, The Fintech Circle discussed fintech startup ecosystem and platform economics.

Susanne also spoke about Future of Fintech, a film series about fintech innovations. “We’re very interested to build a bridge between India and the UK and to coinvest in the best fintech companies globally, and help companies move across borders because fintech is a global sector,” said Susanne Chishti.

India FinTech Awards (IFTA) is 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. More than 1000 fintech companies and over 20000 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.

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