#IL&FS

[newz27]

Technology's Impact on Finance's Evolution explained by Siddharth Mehta

The development of finance has been significantly influenced by technology, which has changed how financial transactions are carried out, handled, and analyzed, says Siddharth Mehta IL&FS, former director.

Many financial processes can now be automated, which cuts down on the time and effort needed to complete financial tasks. Accuracy has increased, mistakes have decreased, and financial experts are now able to concentrate on more important activities thanks to automation.

Organizations may now conduct transactions in real-time since technology has sped up and improved the efficiency of financial operations. This has increased customer happiness, decreased expenses, and cash flow.

Finance professionals can now access and analyze financial data more easily thanks to technology, which helps them make better decisions. As per Siddharth Mehta Bay Capital CIO, Tools for data analytics can offer insights into how well a firm is performing by pointing out its strong and weak points.

Through technological advancements, fraud and cyberattack risk have decreased in the financial sector. Blockchain technology, biometric authentication, and encryption are a few security techniques that are enhancing the security of financial transactions.

The digital revolution of finance has been fueled by technology, which has made it possible for businesses to perform transactions online and do away with the need for paper-based procedures. Finance professionals may now operate remotely thanks to the widespread use of mobile devices and cloud-based solutions, which has boosted accessibility and flexibility.

The growth of finance has been greatly aided by technology, added Siddharth Mehta former IL&FS director, which has made it possible to automate procedures, increase speed and efficiency, increase access to information, improve security, and promote digital transformation. These developments have made it possible for financial professionals to make better judgements and better support the strategic goals of their organizations.

[techinfioo]

Is Your Finance Function Using the Right Technologies?

To manage the business's financial resources, make financial choices, and guarantee compliance with financial requirements, the finance function is essential to every organization asserts Siddharth Mehta IL&FS, former director. Finance functions must use the appropriate technology to automate their procedures and boost their overall effectiveness if they are to do their jobs successfully.

The following are some ways that finance departments may use technology to streamline their processes:

Accounting Software: Bookkeeping, billing, invoicing, and financial reporting are just a few of the numerous finance tasks that accounting software can automate. This technology can speed up data entry and lessen mistakes that come with it.

Company intelligence tools: These tools can assist finance departments in data analysis and company performance insight. As further support, these technologies can offer real-time reporting, dashboards, and predictive analytics.

RPA, or robotic process automation: It is a technology that automates repetitive, manual processes so that financial professionals may concentrate on more important responsibilities. Additionally, RPA can increase compliance, speed, and accuracy says Siddharth Mehta Bay Capital CIO.

Cloud computing: By enabling access to financial data at any time and from any location, cloud computing enables finance operations to swiftly and easily communicate with stakeholders. Additionally, cloud-based solutions eliminate the need for costly IT infrastructure.

Blockchain: Financial transactions may be made transparent and secure using blockchain technology, lowering the chance of fraud and boosting confidence between participants.

In conclusion, utilizing the appropriate technology to enhance operations may be advantageous for the finance department. As per Siddharth Mehta, former IL&FS director. Finance operations may increase their efficiency and effectiveness, which will eventually result in better financial results for the organization, by automating manual procedures, analyzing data, and boosting transparency and security.

[newzindia]

B2B Fintech Companies in India

There are few other prominent top B2B fintech companies in India that leave their mark unavoidably in business market. Here are few of them explained by Siddharth Mehta IL&FS former director:

1: Udaan- One of the biggest business-to-business platforms in India is called Udaan. Vaibhav Gupta, Sujeet Kumar, and Amod Malviya launched it in 2016. Bangalore serves as the startup's corporate headquarters. Staples, electronics, FMGC, lifestyle, home and kitchen, fruits and vegetables, pharma, and other industries are all served by it. The platform enables farmers, small businesses, and manufacturers to provide shoppers and merchants with their goods in a transparent and safe manner. With safe payments and efficient logistics, it facilitates the buying and selling process.

2: GInvoicing- The startup's name, GInvoicing, is clearly taken from the accounting phrase G-Invoicing. Tarun Jangra started Ginvoicing in 2017, which has its headquarters in Ludhiana. It is a platform that enables you to conveniently and more successfully run your business. The platform aims to eliminate all your GST-related problems claimed Siddharth Mehta Bay Capital founder and CIO. It assists with obtaining online payments, accounting, inventory control, gathering sales, marketing, and buying information, among other things.

3: Benow- Benow is yet another well-known B2B payment company in India. It was established in 2016 by Sudhakar Ram and Soorraj VS. A platform called Benow focuses on payments and the retail industry. The firm was established to advance digital payments and support the growth of SMEs, NGOs, and brands. Users may also obtain credit points, EMI, bundle items, and much more. The Buy Now Pay Later approach is the main emphasis of the site.

Conclusion!

Business-to-business payments were always a difficult procedure, but as technology developed, a number of companies appeared that simplified and secured the transaction. Some of the most well-known B2B payment firms in India that are revolutionizing the way transactions were previously conducted are those listed above.

[digiblogs]

Top B2B Fintech Companies in India that grew rapidly in 2023

Due to the proliferation of payment startups in the modern era, B2B transactions have improved in terms of convenience and security. Some of the most well-known B2B payment startups in India are the ones listed below:

1: BharatPe- A single BharatPe QR code may be used by small to midsize business owners to accept payments across all UPI applications, according to BharatPe, a B2B fintech provider. The startup also provides loans to business owners and praised by many entrepreneurs like Siddharth Mehta IL&FS, former director. Bhavik Koladiya, Ashneer Grover, and Shashvat Nakrani launched it in 2018, and its main office is in New Delhi. Recently, BharatPe collaborated with NBFCs on a project named the "12% Club". Through this program, consumers will have the opportunity to invest in BharatPe and earn interest rates of up to 12% without being subject to any lock-in periods. Additionally, consumers are able to borrow money at a 12% interest rate.

2: Emkash- EnKash is a platform for managing B2B payments and providing financial support. With the help of this program, a business may monitor its cash flow, invoices, and—most importantly—track payments from customers or suppliers. It facilitates easy connections between businesses, corporations, and credit providers. Hemant Vishnoi established the business in 2016. The SBM EnKash RuPay business card, the most comprehensive business credit card ever, will be released in 2020 thanks to a collaboration between SBM Bank, YAP, RuPay, and EnKash.

3: Airpay- Another well-known B2B payment company from India, Airpay, makes it simple for retailers and eCommerce businesses to accept contactless payments. Amit Kapoor, Kunal Jhunjhunwala, and Rohan Deshpande established Airpay in 2012. The business's main office is in Mumbai. As per Siddharth Mehta Bay Capital CIO says, the payment platform offers features including open banking, financial services, contactless payments, mobile POS, net banking, digital payments, and financial inclusion.

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Why do people prefer using Fintech in their daily life?

Fintech offers a more customized and improved user experience, in addition to other benefits like improved technology and operational effectiveness. As Siddharth Mehta Bay Capital founder & CIO, said, Fintech is more favoured over traditional banking services in India since it makes all areas of money more accessible to people. People prefer to use fintech for a variety of reasons, including:

Convenience: Fintech enables anytime, anywhere access to financial services. Mobile devices make it far easier for users to conduct transactions, check balances, and manage their money than going to a real bank or financial institution.

Speed: Fintech services frequently provide speedier transaction processing and faster fund availability. For instance, a lot of peer-to-peer payment networks support rapid transfers of funds, which is far quicker than the several business-day wait times for conventional bank transactions.

Reduced prices: Compared to traditional financial institutions, fintech services frequently have cheaper fees, making them a more appealing choice for customers asserts Siddharth Mehta IL&FS, former director. As an illustration, although some fintech businesses provide free money transfers, others charge less for investing services than traditional brokerage firms.

Customization: Based on the requirements of each individual customer, fintech services can provide tailored solutions. For instance, some investing platforms provide tailored portfolios depending on a user's risk appetite and financial objectives.

Innovation: Fintech firms frequently lead the way in the financial sector's technological innovation. They can provide novel goods and services, including robo-advisors and cryptocurrency exchanges, that conventional financial institutions might not have.

On general, individuals like adopting fintech since technology gives them more creativity, flexibility, and speed when it comes to handling their financial.

[spettriedemoni]

TEE

C'è stato un periodo in cui ero molto affascinato dai treni, molto più di oggi. In particolare c'era un treno che passava sulla linea adriatica (e quindi anche nella mia città) molto lussuoso, fighissimo, elegantissimo e pure molto costoso.

Era il Trans Europe Express o più semplicemente TEE.

In testa c'era la più veloce locomotiva italiana la E 444 detta "Tartaruga", curioso soprannome per una locomotiva che poteva raggiungere i 200 km/h, dietro a traino c'erano le carrozze gran confort.

In realtà non tutte le carrozze avevano la dicitura Trans Europe Express, quelle erano metà delle carrozze che componevano il convoglio con livrea gialla e rossa, le altre carrozze avevano una livrea particolare, giallo chiaro con righe sottili rosse.

Gli interni erano spettacolari: pavimento coperto da tappeto rosso, porte degli scompartimenti a vetro che si aprivano tramite una pedana posta sul pavimento e poltrone di velluto.

Non mi è capitato spesso di viaggiarci, il biglietto era comprensivo di "supplemento rapido" e prenotazione obbligatoria del posto, tuttavia era sempre bellissimo vederlo arrivare in stazione e spesso all'una, dopo essere uscito da scuola mi fermavo a vederlo, ne ammiravo la linea perfetta arrotondata di quella locomotiva, gli interni puliti ed eleganti, ne contavo i vagoni e immaginavo come doveva essere figo viaggiare lì sopra in ambiente climatizzato.

Tornavo a casa senza che i morsi della fame mi pensassero più di tanto.

Avevo visto il treno dei miei sogni, che altro potevo volere di più?

[newsonlines-world]

Interested in investing as a young entrepreneur? Here's what you need to know

Investment in India has remained subdued considering the challenging global environment, and analysts anticipate that the country may remain in a state of stagnation until the end of the year. According to Siddharth Mehta IL&FS Former Director and CIO of Bay Capital, the market has seen a significant decrease in the rate of deal-making, which is attributed to the global economic and geopolitical conditions, as well as inflation and the ongoing conflict in Ukraine. GlobalData indicates that in January 2023, 87 venture capital deals were disclosed in India, amounting to a total of $696.2 million (about $21 per person in the US). This was a decrease of 13.9% compared to the previous month when India saw 101 venture capital agreements for a total of $905 million.

What Investing Strategy Should Budding Entrepreneurs Use?

To plan your investments as a young entrepreneur, set short- and long-term business goals, create a budget, explore investment opportunities, seek advice from financial advisors or mentors, diversify investments, monitor performance regularly, and be patient. Diversify your investments to minimize risks and maximize returns. Monitor your investments regularly and adjust if needed. Remember to be patient and persistent in your investment journey. Siddharth Mehta Bay Capital CIO and IL&FS Former Director believes that young entrepreneurs must do in-depth research and market analysis and understand the cycle of the market and its preferences before making any investment as successful investing necessitates meticulous planning, thorough research, and discipline, paving the way for long-term business success.

Things to Keep in Mind While Starting a Startup

Building a successful team, getting funding, concentrating on the customer experience, and keeping nimble are all necessary for starting a firm. Success depends on conducting market research, generating cutting-edge products, and having a comprehensive business plan. For a profitable return, it is crucial, above all else, to conduct research based on current market trends and changes.

Three Things to Keep in Mind While Considering a Startup

Starting a new business can be a challenging journey, especially for young entrepreneurs. To succeed, they should be passionate and determined, prioritizing their customers and building strong relationships. They should understand their needs, preferences, and pain points, and focus on creating a positive customer experience. Being resourceful and adaptable is crucial, as it allows them to find innovative solutions, build relationships with industry leaders, and learn from mistakes. Despite lacking capital, experience, or industry experience, they should remain flexible and adaptable to meet the changing needs of their business and industry.

What is Investing in Lifestyle? And How to Make Sure it is Profitable

What is a lifestyle investment? Lifestyle investment means investing in assets that reflect an individual’s lifestyle or passion. For example, investing in art, music, travel, or in sports. Investing in lifestyle assets is a great way to achieve a profitable return. However, it’s important to understand that lifestyle investments aren’t always financially sound. “It’s essential to do your research, diversify your portfolio, seek professional advice, track your investments regularly, and have patience, lifestyle investing can help you make better decisions and reduce risks”, asserts Siddharth Mehta.

[trendsblogsworld]

Digitalization is the process of converting analog information into digital form. It involves using advanced technology to digitize information, automate processes, and improve efficiency. By converting data into digital format, organizations can store, manipulate, and analyze data more easily, quickly, and accurately.

[newsologys]

Here are some mistakes you should avoid while on an enterprise excursion, according to Siddharth Mehta IL&FS former director.

1: Overlooking your own requirements 2: Depending just on your instinct 3: An inferior organization 4: Not paying the experts 5: Want to do everything without help from anyone else 6: Disappointment

[newz27]

How millennials are redefining the Fintech Space in India?

Millennials, who are born between the early 1980s and the mid-1990s, are a growing demographic in India, and they are redefining the fintech space in many ways says Siddharth Mehta IL&FS former director. Here are some of the ways millennials are changing the fintech landscape in India:

Digital-first approach: Millennials are comfortable with digital technology and are more likely to adopt fintech solutions that offer a seamless digital experience. This has led to the growth of digital wallets, mobile payments, and online lending platforms in India.

Personalization: Millennials expect personalized experiences from fintech companies, and they are more likely to use services that are tailored to their individual needs. This has led to the growth of robo-advisors, which use AI and machine learning to provide personalized financial advice and investment recommendations.

Social media influence: Millennials are active on social media, and they are more likely to trust recommendations and reviews from their peers. Fintech companies are using social media platforms to reach millennials and build trust through influencer marketing, social proof, and user-generated content.

Financial education: Millennials are more likely to seek out financial education and advice from online sources, and fintech companies are stepping up to meet this demand. This has led to the growth of online financial education platforms, such as podcasts, blogs, and YouTube channels, that cater to millennial audiences.

Social impact: Millennials are more socially conscious and are more likely to choose companies that align with their values. Fintech companies are responding to this trend by offering socially responsible investment options, impact investing, and other services that promote sustainability and social impact.

Siddharth Mehta IL&FS says millennials are driving innovation in the fintech space in India, and fintech companies are responding to their needs and preferences. As the millennial demographic continues to grow and mature, it is likely that fintech will continue to evolve and adapt to their changing needs and expectations.

[techinfioo]

Data-driven platforms and automation is helping fintech to be on the top

Automation and data-driven platforms are essential to the development and profitability of fintech businesses. Siddharth Mehta Bay Capital founder & CIO, support the development of fintech in the following ways:

A better customer experience is possible thanks to data-driven systems, which help fintech firms better understand their clients' requirements. Fintech businesses may tailor their services and goods to each client's demands by evaluating consumer data. As per Siddharth Mehta, IL&FS former director, automation makes transaction processing quicker and more effective, improving the client experience.

Improved Risk Management: To succeed, fintech businesses must successfully manage risk. Fintech businesses may evaluate data in real-time and spot possible threats before they materialize by utilizing data analytics and automation. Fintech businesses may use this information to make better decisions and take preventative action to reduce risks.

Faster Decision-Making: Fintech businesses may use automation to handle transactions quickly and precisely, which promotes decision-making speed. This is crucial in the loan and investing industries since delays may be expensive. Fintech businesses can swiftly evaluate data and make educated choices in real-time thanks to data-driven platforms.

Cost Savings: Automation can eliminate the need for manual processing of consumer requests and transactional data, saving fintech firms a lot of money. Fintech businesses may improve their operations and spot places where expenses can be cut by utilizing data analytics.

Better Compliance: As fintech businesses must adhere to stringent rules, this is essential to their success. By automating compliance checks and making sure that all transactions comply with regulatory standards, data-driven platforms and automation may assist fintech organizations in maintaining compliance with regulations.

Robo-advisors, which utilize algorithms to provide consumers with investing advice explicit Siddharth Mehta IL&FS former director, are an example of a data-driven platform and automation in fintech. The robo-advisor platform employs automation to build a customized investment portfolio after gathering information on a client's financial objectives, risk tolerance, and investing preferences. To help the customer reach their financial objectives, the platform continually monitors market data and modifies the portfolio as necessary. This automated, data-driven method can provide customers with a more effective and affordable investment option while also lowering the risk of human mistakes.

In conclusion, automation and data-driven platforms are crucial resources for the development and success of fintech businesses. Fintech businesses may enhance consumer experiences, efficiently manage risk, take quicker choices, save costs, and maintain regulatory compliance by utilizing this technology.

[newzindia]

Financial products that consumers use in daily lives

Siddharth Mehta Bay Capital founder says these are a few everyday financial products that consumers use:

Mobile banking applications: To handle their finances on a daily basis, many consumers utilize mobile banking applications from their financial institutions or fintech suppliers. With the help of these applications, users may use their smartphones to deposit checks, pay bills, and check account balances.

Payment applications: Popular fintech products used on a daily basis include payment apps like PayPal, Venmo, and Cash App. These applications make it simple, quick, and secure for users to send and receive money from friends and family.

Apps for managing finances: Popular fintech solutions for managing finances include Mint, PocketGuard, and YNAB. By giving users insights into their spending patterns, Siddharth Mehta IL&FS, former director says, these applications assist users in keeping track of their costs, creating budgets, and saving money.

Investment applications: Popular fintech products used daily include investing apps like Robinhood, Acorns, and Stash. These applications make it simple and affordable for consumers to invest in stocks, ETFs, and cryptocurrency.

Digital wallets: Popular fintech products used on a daily basis include digital wallets like Apple Pay, Google Pay, and Samsung Pay. Instead of using cash or real cards, these applications let users make purchases using their smartphone or wristwatch.

In general, fintech solutions are becoming an essential part of people's everyday lives since they make it simple and effective for them to handle their finances.