Fintech startups are no longer the ‘new kids on the block’, but have progressed to become the ‘building blocks’ for the future of financial services in today’s rapidly digitizing economy.
After becoming consumer favourites by radically distinguishing themselves from traditional banks, fintech startups have transformed the industry with digitally disruptive customer experiences, low-to-no-cost products, simple onboarding, greater convenience, and ‘fully digital’ engagement.
Today, fintech startups are breathing new life into the payments value-chain as they partner with incumbents to fill product and service gaps and expand selection. And while the mercurial challenges of 2020 tested the entire banking ecosystem, the fintech industry has remained predominantly resilient and displayed adequate growth.
In fact, the global fintech market is booming and is expected to reach around $309 billion by the end of 2022, with a CAGR of around 24.8 percent.
The current scale of the Indian fintech sector was inconceivable until a few years ago because 67 percent of the country’s fintech players were set up only in the last five years. The Indian fintech industry is also the second-highest funded industry after e-commerce; and is poised to occupy the top rank in the coming years.
Against such a dynamic backdrop for the fintech sector, the Visa Accelerator Program was created to help visionary startups in the fintech arena to unlock global scale and the next phase of growth, and to make their next big leap. As one of Asia’s leading accelerator programs for fintech startups, the program helps them to partner with Visa and benefit from the expansive knowledge base and global tech expertise of the world leader in digital payments.
To this effect, YourStory is proud to present a webinar titled ‘Unlock Global Scale for your Startup’ in partnership with the Visa Accelerator Program on November 25, 2021 from 11:00 AM – 12:00 noon IST.
What to expect?
The webinar will feature rich insights and perspectives of thought leaders from the payments ecosystem on how fintech startups can unlock global scale growth with the Visa Accelerator Program. The discussion will also spotlight commercial opportunities for startups to collaborate with Visa’s extensive network of financial institutions, merchants, and partners across the region.
So if you’re a fintech founder or an allied business leader, sign up for a spot on this limited-access virtual panel with ecosystem experts Ciyi Lim, Head of Innovation, Asia Pacific, Visa; and Anish Achuthan, Co-founder and CEO, Open; in conversation with T R Ramachandran, Group Country Manager India & South Asia, Visa.
You will also hear firsthand from Open, a finalist of the first cohort of the Visa Accelerator Program, about their experiences of being a part of the programme.
Visa introduced the Accelerator Program across the Asia Pacific region in December 2020 to help startups in the region break into new geographies and reach new customer groups. The world leader in digital payments also held its first-ever Visa Accelerator Demo Day on September 21, 2021, where five elite startups showcased new payment solutions they’ve co-created with Visa, one of whom was Open.
“Something we hear often from startups in Asia Pacific is that when they’ve launched successful solutions in their home markets, it’s a challenge to hit that next stage of expansion. Visa used the Accelerator Demo Day as a platform for our startups to connect with potential investors and industry partners who could help expand their footprint,” said Ciyi. “And because we know speed is crucial for startups, Demo Day is a way to fast-track the process for turning the concepts they’ve built with Visa into commercial realities,” she shared.
