What Exactly is FinTech?
  • Applying technology in financial services to help companies manage the financial aspects of their business, including new software and applications, processes and business models
  • Leveraging technology to create better financial services for both consumers and business
  • Using advanced analytics to create aggregated market views and uncover trends to provide better business insights
  • Enabling financial services of all kinds to seamlessly integrate in the lives of tech-savy and sophisticated customers as digitalization plays a greater role in modern times
  • Allowing customers to access innovative products tailored to their specific needs along with being quicker and cheaper
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ustomers now expect seamless digital on-boarding, rapid loan approvals, and free person-to-person payments – all innovations that FinTech has made popular. And while they may not dominate the industry today, FinTech has succeeded as both standalone businesses and vital links in the financial services value chain,” – Deloitte and the World Economic Forum (WEB)

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here are 60 million consumers in this country that are under-banked. They wait in lines to cash checks and to pay bills, it’s highly inconvenient. A product like prepaid cards saves them a lot of time and inconvenience“ – American Express

Some Famous Quotes on FinTech?
Increasing Dependence on Technology
Increasing Dependence on Technology

An example of technology disrupting a traditional industry……
Amazon is a prime example of how technology can transform an industry. Through offering a better customer experience and reducing overhead costs, Amazon has grown to the point where it’s market capitalization is larger than those all the publically traded department stores added together

Market Value as on December 30, 2016

Financial Sector

Financial services stands out in terms of potential value creation…

As one of the largest sectors in the economy, financial services is a clear target for disruption.

Financial Sector

Factors opening the way for new financial service providers…

Financial Sector

Leading FinTech entrants have shown that they can produce returns…

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Clear monetization strategy

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Proven and measurable customer demand

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Reduced cost structure

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Highly scalable business models

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Exit multiples on par in some instances with internet and software companies

Spurring innovation across the various subsectors of financial services

Key Challenges for Banking and Financial Industry

“How is the traditional banking industry keeping up with today’s constantly changing technology landscape? Not very well it seems” – SAP and IBM

FINTECH – Driving Business Models of the Future

2017 saw a huge number of deals in FinTech sector, proving its place amongst the other big-time investment sectors such as security and data. Developments in technology over the coming years will see FinTech grow further, with a larger number of derivatives and pivots being formed along the way. If the patterns and trends of 2016 and 2017 continue, 2018 is set to be a great year for FinTech.

FINTECH – Driving Business Models of the Future

Once thought to be unfailingly secure due to their size, scope, influence and the high barriers to market entry, banks, insurance companies and investment houses have come under assault from a new technological wave that threatens their status quo, if not their existence.
Technology is moving at such a rapid pace that, by 2020, as much as 25% of the financial industry’s revenue will be at risk.

Slice of the Future
  • FinTech -> means of introducing the financial sector into the modern era – and everyone wants to get involved
  • With banks, crowd-funding networks, money transferring sites, currencies and financial advisors all opting in to use technology, it seems that the future has finally arrived for the financial world
  • Investment into FinTech an investment into the technology of the future
Slice of the Future
  • FinTech -> means of introducing the financial sector into the modern era – and everyone wants to get involved
  • With banks, crowd-funding networks, money transferring sites, currencies and financial advisors all opting in to use technology, it seems that the future has finally arrived for the financial world
  • Investment into FinTech an investment into the technology of the future
Rise of the Millennials
  • Millennial generation, heavily reliant on social media for information and guidance making them more demanding and less loyal, expected to be the biggest users of FinTech services
  • Companies leveraging FinTech hold the advantage over traditional institutions in their access to and utilization of data to inform them of the needs and preferences of their customers, allowing them to mass customize their offerings
Rise of the Millennials
  • Millennial generation, heavily reliant on social media for information and guidance making them more demanding and less loyal, expected to be the biggest users of FinTech services
  • Companies leveraging FinTech hold the advantage over traditional institutions in their access to and utilization of data to inform them of the needs and preferences of their customers, allowing them to mass customize their offerings
At Your Convenience
  • Users no longer have to visit banks within traditional working hours, or wait days for cheques to clear
  • Added level of convenience that FinTech provides is something that everyone can benefit from, and is especially useful for international businesses who do not always operate within the same time zones
  • FinTech also enables the investment of funds to be a smooth, clear and accessible process, which in turn encourages more potential investors to become interested in the sector
At Your Convenience
  • Users no longer have to visit banks within traditional working hours, or wait days for cheques to clear
  • Added level of convenience that FinTech provides is something that everyone can benefit from, and is especially useful for international businesses who do not always operate within the same time zones
  • FinTech also enables the investment of funds to be a smooth, clear and accessible process, which in turn encourages more potential investors to become interested in the sector

“The convergence of financial services and technology, which has come to be known as FinTech, has become such a disruptive force in such a short time period that established financial institutions must quickly reconsider their business models or risk obsolescence in significant parts of the financial services value chain.” – PWC

FINTECH – Driving Business Models of the Future
Our Team

Our team would comprise of experts from – Provider of security and safety services (CISB) , Finance professionals having domain knowledge (CBS) and IT experts (TCG DIGITAL). Contracting and overall coordination would be under CBS.
A brief profile is provided below:

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CISB (CIS Bureaus Facility Services Pvt Ltd.) is a leading and renowned provider of security and facility management solutions.

They specialise in providing comprehensive end-to-end outsourced solutions & service for sectors where security and safety risks are considered a strategic threat. They have built up considerable domain knowledge and expertise in the assessment and management of facilities, security and safety risks for Corporates, Industries, Townships, ATM’s, Point of Sale Terminals, Self Service Kiosks, Infrastructure, Materials, Valuables and People.
They remain at the center of all their customer challenges and work closely with their esteemed customers by continuously delighting them in all aspects of relationship.

They have over 14 Regional and 36 Branch Offices all over India with full-fledged staff and facilities.

CISB employs over 18000 people and is growing at a rate faster than the industry.

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CBS LLP comprises a team of such experienced professionals from the best in class companies like Tata Steel, M.N. Dastur, Usha Martin and others, having years of experience in reconstructing and turning around businesses in India and abroad. They have experience in dealing with all major banks in the world and are well conversant with their functioning. Apart from ideation, their USP is providing proof of concept through ground level execution. The areas of expertise include leadership, strategy formulation and structuring, business analytics, financial modelling, plant operation and continuous improvement, TQM, marketing including brand and channel strategy, supply chain and strategic sourcing and human resource management.

Our Team

TCG Digital is the flagship technology consulting and solutions company of The Chatterjee Group (TCG). They help in building the modern digital enterprise leveraging the power of Analytics, Mobility, Digital Sourcing and Customer Centricity.

Their focus is on achieving excellence by delivering value-driven business solutions enabled with technology. Their investments in creating IP, nurturing talent and building knowledge assets for specific industry verticals like Aviation/Travel / Financial Services/Insurance /Power & Utilities /Consumers/Retail/ Manufacturing / Pharma & Healthcare/ Govt. & Public Sector help their clients maximize their returns on their investments. They continue to deliver strategic application development and maintenance services with their Offshore Knowledge Centers that form the core of most businesses.

With marquee clients across North America, Europe, Middle East and Asia Pacific, TCG Digital’s ISO 9001:2008 and CMMI certifications bear testimony to their process-centric approach. Their Integrated Quality Management System (IQMS) is embedded in every stage of the customer engagement lifecycle. This empowers their associates to achieve, and even exceed customer expectations.

TCG Digital’s strength lies in their flexible and scalable solutions that are built on modern technology and delivered in-premise/ on the cloud. They customize them to the unique needs of each of their customers. This, coupled with their quality human capital and industry benchmarked processes, makes us the preferred choice for clients. They aim to be strategic consulting and technology partners for their clients and offer solutions that have long-term and sustainable benefits.

Value Proposition

Optimize Operations
Realize significant value by identifying and fixing poor cross – channel processes resulting in sales leakages. Automating processes will drive efficiency savings and will also help avoid fines and negative PR by identifying sources of non-compliant activities across a range of processes. Improving operational risk capabilities, using breakthrough analytics that leverage structured and semi-structured data will help in avoiding losses.

Fraud detection
Digitization has paved way for cyber criminals to commit more frauds. Intelligent systems and tools will assist banks to deal with the same using advanced predictive analytics, machine learning and data mining. Analytics solutions will be used to recognize frauds that are not very obvious and analyse them further. Data integration, utilizing unstructured data and machine learning techniques can help detect fraud cases.

Application Screening
Analytics in banking can help process huge volumes of applications, without excluding important variables, without delays or errors, without growing tired- all of it with regularity and steadiness with the results being accurate and authentic.

Value Proposition

Customer Acquisition and Retention
Focusing on optimized targeting, instant identification of high-value customer segments most likely to respond will be done along with expansion of customer base by acquiring the right kind of customer. Applying this technology will also help discover the churn patterns and develop profiles of users who have left, to get an insight of why they left and discover strategies to keep them satisfied. Using predictive analytics, the bank can identify which customers are willing to switch to any other bank and the reason behind their decision.

Customer Buying Habits
Segregating customer segments and targeting them with highly relevant, individualized messages tailored to each customer’s profile, resulting in a higher response rate ultimately helping to deliver the right product to the right person.

Cross Selling
Examining customers’ usage, spending, and other behaviour leads to effective cross-selling of the right product at the right time. It can happen by analysing the existing customer behaviour at places where multiple products are offered, which specific products are to be sold to whom hence predicting the outcome is what successful cross-sellers do.

Value Proposition

Collections
Banks have a mix of customers who always pay on time and those who lag. It is a tricky task to keep a track and maintain records of all individuals and differentiate who to focus more. Using analytics banks can attain a better understanding of their portfolio risk and thus improve the productiveness of the collections process. Most importantly analytics helps identify the customers who would be at risk in the future and what actions banks should take to achieve positive results.

Better Cash and Liquidity Planning
Tracking the past usage patterns and the daily coordination between the in- and out-payments at branches and ATM’s will predict the future needs of their potential customers. Optimal management of liquid assets can result in extra income and a proper analytics plan can help obtain an overview of future changes in investment and liquidity options.

Marketing Optimization
Planning marketing campaigns and programs and monitoring the results closely provides an insight into customer behaviour and attitudes helping the marketing team deliver the right message at the right time to the right customer.

Value Proposition

Customer Lifetime Value (CLV)
Identifying the best customers, making them better in different ways, and securing their loyalty, are few areas that banks are focussing. Using analytics, banks can:
Know which customers should be the focus of new customer engagement efforts
Identify the factors that enhanced returns on customer engagements in the past
Use that knowledge to understand why customers responded to certain messages and promotions

Feedback Management
Banks and financial firms can keep up their relationship with the customers by giving them the right services and products for their need and matching individual preferences in the most sorted way.

Our Approach
Our Approach

Adaptive, future-proof architecture : Fully integrated and connected

Sample Clientele and Past Assignments
Way Forward

Our team can:

  • Engage in the initial assessment of existing system, procedure and documentation and suggest appropriate usage of Fin Tech applications in various functional areas
  • Develop customized FinTech application as per the existing requirement of the client
  • Provide available FinTech tool which is of general nature if suites the client
  • Modify the existing application to make it more effective
  • Maintain the existing and new applications on regular basis

Cost
Cost would be charged based on the resources to be utilized for providing any of the above services.