What the Fact (WTF) is Fintech, and Why Investors are Lining Up to Fund Them?

In the last 12 months, there has been a surge of opportunities and startup domination in Financial Technology. Financial Technology is also called Fintech, a portmanteau, used to describe the use of computer software, automation and intelligent analytics to support various operations in banking, finance, insurance and accounting.

According to a leading global research and market trend company, Fintech is defined as a specialized branch of IT and Data Science for digital transformation of financial companies. Fintech CEOs are focusing on the next 10 years to prioritize innovations in their financial services and operations by implementing Cloud, IoT, 5G, Mobility and AI ML capabilities at various levels of IT and Customer Service.

In the growing role of Fintech, we can see the job market opening further for professionals with certifications from leading Data science Python course in India. Fintech companies would hire 50% more IT professionals to manage their various Cloud and SaaS IT infrastructure and better prepare for the future.

With start-up companies training their eyes in the still untapped Fintech ecosystem, investors from all over the world come to India to fund these companies. What do they see in Fintect start-ups in India?

First, these Fintech companies have a novel idea of transforming the sluggish economy by purging old and shallow financial benchmarks that have long gobbled human and material resources. With 5G and IoT services coming to force, we can find Fintech companies in India making the next best push into the Banking and Insurance sector.

Entrepreneurs in this sector are mostly graduates from the IITs and IIMs, particularly from the top rung ones such as IIT Delhi, Kharagpur, Guwhati and IIIT Trichy. NITs and IIMs are also catching up the trend. But, if you observe closely this trend, you will find that it’s mostly about building and selling the technology than truly managing it from a business perspective. That’s where the play of Data Science training and Python superiority come into the picture.

Between 2019 and 2023, we are expecting Indian startup scenario to dramatically change in favor of Fintech companies, where investors pump in $1500 million in the next two-three years. As we see the domination of established banking and insurance companies in India, the digital push from the government will play a great role in making fintech a specialized industry. Even for Marketing and Sales, fintech would make a faster inclusion for superiority.

And, don’t forget the rise of Crypto and Blockchain.

In a growing economy that is fondling with corruption and sluggish growth at every step, blockchain and crypto could be the next solution for digital companies to safeguard their interest. Blockchain startups are yet to take first steps into investors circle, but we can expect them to move ahead in the race to become the biggest job market for Data Science Python professionals in the coming months. Once the first 10,000 get their jobs, we will see millions flooding the market.

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