MUMBAI: The India Fintech Forum, a leading platform for Fintech startups and companies, has announced the winners of its second edition of the Fintech Olympiad (India Fintech Awards IFTA-2024).
The finalists won from a prize pool of Rs. 5 lakh throughout the year in cash and non-cash benefits.
More than 40,000 students from over 2000 colleges across the country registered for the Fintech Olympiad. Around 150 students were shortlisted over four online and 11 regional rounds held across six cities for the national finals held in Mumbai.
The Fintech Olympiad is a multifaceted competition designed to empower students with a basic understanding of managing personal finances and an overview of the fintech industry in an engaging way.
Fintech Olympiad was launched in 2023 by India FinTech Forum as an initiative to promote financial and digital literacy for the youth.
The IFTA-2024 concluded with a day-long conclave with participation from industry leaders including SEBI whole time member Ananth Narayan Gopalakrishnan, AMFI Chief Executive Venkat N. Chalasani, TVS Capital MD Gopal Srinivasan, Aavishkar Group founder Vineet Rai, and DSP Asset Managers vice chairperson Aditi Kothari Desai.
The Association of Mutual Funds in India (AMFI) supported the initiative as the financial literacy partner. The competition’s focus on financial literacy and digital fluency aims to prepare students for high-growth opportunities in the fintech sector. Axis Mutual Fund was the investor education partner for the Fintech Olympiad 2024.
Winners of the national finals of Fintech Olympiad 2024
Student category
- Madhur Tike, Welingkar Mumbai
- Vinit Jadhav, NMIMS MPSTME
- Anuj Shukla, PSIT Kanpur
Professional category
- Greeshma Pasham, Verticle Technologies
- Seth Randive, Hyperface
- Sanil Basutkar, Bharatsure
“At the 9th India FinTech Forum, we witnessed groundbreaking discussions on how AI is transforming financial services. From personalised customer experiences to advanced risk management, the conference highlighted the trends shaping the future of Fintech. It is inspiring to see industry leaders and innovators come together to redefine the delivery of financial services with AI at the core,” Sougata Basu, Founder, CashRich and Executive Committee Member of India FinTech Forum said.
IFTA is known for celebrating innovation and recognising groundbreaking fintech startups. The winners of IFTA 2024 are follows.
- Fintech Startup of the Year: AsaanWill
- Fintech Rising Stars: Boharr, Data Sutram, Hedged.in, Effortless
- Fintech Scaleup of the Year: Wealthy
- Fintech Scaleup Star: Ozone API
- Most Innovative Fintech Product: smallcase
- Best Innovation in Digital Lending: Yubi
- Best International Fintech in India: Ozone API
- Best Fintech Initiative For Social Impact: Protean eGov Technologies
- Excellence in Payments: PayGlocal
- Best Use of AI in Fintech: Digital India Bhashini Division
- Best Innovation in RegTech: Digio
- Best Innovation in WealthTech: Jar
- Best Technology Company for Fintech Solutions: M2P
- Excellence in InsurTech: Roadzen
- Best Initiative for Financial Literacy: Zerodha Varsity
More than 1850 companies participated in IFTA 2024.
How India spends
The Perfios and PwC launched a report on ‘How India Spends’ on the occasion, which offered a comprehensive insight into Indian consumer spending. The report analyses the spending by consumers across three key categories—obligatory, discretionary and necessity expenses, which contribute 39%, 29% and 32% of all consumer expenses. Individuals across tiers of cities spend 33% of their income towards EMIs. People living in tier 2 cities outpace tier 1 residents in spending on medical bills which averages at Rs. 2,450 per month per person in tier 2 towns.
The India FinTech Forum, a nonprofit platform fostering collaboration among over 4,500 companies and 37,000 individuals, remains dedicated to making India a global fintech leader. Since its founding in 2016, the Forum’s flagship event, IFTA, has spotlighted groundbreaking ideas, bringing together fintech startups, investors, and thought leaders. For those interested in the future of finance, the IFTA remains a must-watch event in India’s fintech calendar. Visit the India FinTech Forum’s website (www.indiafintech.com) to learn more about the industry’s trailblazers shaping India’s financial future.
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