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Time Business News
3 days ago
- Business
- Time Business News
Top 5 Use-Cases of AI and Machine Learning in the FinTech Industry
FinTech has completely revolutionised the way people manage money today. From paying bills to getting loans and investing in the stock market, everything is at your fingertips. It won't be completely wrong to say that the industry has become a significant part of a common man's life today, without which they may struggle to do their daily tasks. But what's powering modern fintech? Plenty of technologies like blockchain, IoT, Artificial Intelligence (AI), and Machine Learning (ML). But we're going to specifically focus on AI/ML today. These technologies help the fintech app understand user needs, prevent fraud, and offer personalised financial advice. This guide will help you understand how AI and ML are shaping the fintech industry and making complex processes like investing, lending, and saving efficient for its users. Let's Go! Fraud Detection And Prevention The fintech industry deals with big money; thus, it is on the radar of cyberattackers who try various methods, including phishing, money laundering, or unauthorized transactions. How does AI help in fraud detection? Take an example of a user who makes multiple transactions with his credit card. He will get a call from the bank to verify if the payments were made by him. Or imagine a user is in Mumbai, but his card was used in Dubai. He'll get an immediate notification. This is such a good way to save the users from any financial fraud. Without AI and ML, this would not have been possible. These systems keep a track of the user's financial history and alert immediately if they sense any suspicious activity. It's the pattern of transactions that helps. Examples: PayPal's AI scans millions of payments per second, blocking fraud that costs the industry $40 billion yearly. In India, Razorpay's ML catches sketchy UPI attempts like duplicate payments, saving merchants lakhs. Credit Score And Risk Assessment AI and ML have made the task of getting a loan easier. These systems allow AI fintech companies to look for alternate data sources like transaction history and bill payments to generate a credit limit. Examples : Digital lenders like Upstart and Zest AI use AI-based credit scoring to approve more applicants safely. FinTech companies like Razorpay are leading the way in using ML to improve payment security. Personalized Financial Services AI and ML allow the fintech apps to track user behavior, transaction history, and lifestyle habits to deliver personal financial goals. These apps can suggest a saving plan based on the user's behaviour and income to meet the requirements. They can also suggest a good investment plan based on the user's risk tolerance. Example : Groww App in India uses machine learning to track user behavior. How much users invest, when they withdraw, what are their preferred sectors. Based on the behaviour, it offers custom investment insights, like portfolio rebalancing suggestions or fund alternatives that suit their risk profile. This makes stock and mutual fund investing personalised and beginner-friendly. Algorithmic Trading Investing in the stock market is rewarding but comes with its share of risks. Proper knowledge about the market is a must to gain maximum benefits; however, becoming a successful trader is not everyone's cup of tea. This is where AI and ML can be of great help. The AI trading systems analyze millions of data per second, including stock prices, economic indicators, news sentiment, and even tweets. ML algorithms then make high-frequency trading decisions to maximize returns and minimize risk. These systems continuously learn from market patterns, adapt strategies in real-time, and often outperform traditional trading methods. Examples : India's largest stockbroker, Zerodha, integrates with a platform called Streak that lets even non-coders do algorithmic trading. Here, the user can set conditions like: 'Buy this stock if it drops 5% in 15 minutes and RSI is below 30 .' The system will track those conditions using live data and execute the trade automatically when they're met. ML models in the background can help fine-tune the strategy over time. With the AI in fintech markets worldwide growing rapidly, more platforms are now offering retail investors access to AI-powered trading tools. Chatbots and Customer Support Customer service in fintech is expensive due to repetitive queries and long wait times. AI chatbots can handle queries and reduce the human load. Natural Language Processing (NLP) enables these bots to understand user intent and deliver accurate responses. Advanced ML models allow the bots to learn from interactions, becoming smarter and more helpful over time. Examples : Erica by Bank of America helps users track spending, pay bills, and get financial tips. Additionally, Cleo and Plum are AI-powered financial assistance for millennials, offering witty responses and budgeting help. Final Thoughts AI and ML have given extraordinary powers to the fintech industry. From fraud detection to personalised saving and investment plans, these technologies have revolutionised how financial services are delivered, making them more efficient, secure, and user-centric. The rise of AI in fintech is helping companies create smarter, user-first financial products, and the businesses need to hire AI developers that will incorporate it will be in a better position to lead tomorrow's financial revolution. TIME BUSINESS NEWS
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Business Standard
4 days ago
- Business
- Business Standard
Setu makes leadership appointments, hires executives from major fintechs
Setu, a Pine Labs company, has added executives from major fintech firms to bolster its leadership team. The company appointed Prashanth Nimmagada as Chief Technology Officer (CTO) after serving as Vice President of Engineering at Razorpay. Ramkumar Thirumurthi, who led Razorpay's neobanking vertical and co-founded has joined as Chief Revenue Officer (CRO). Former product lead for PhonePe's payment gateway business, Nikhil Ratanpal, has joined the company as Director of Product Development. In January, Pine Labs appointed Vijeth Pandit as Chief Product Officer. He previously served as Senior Director of Product Management at Razorpay for nearly three years. Santosh Subramanian, with leadership experience at Yes Bank and PayU-owned Wibmo, joined the company as Head of Finance. In 2024, Setu appointed former SAP India executive Anand Raisinghani as its Chief Executive Officer (CEO). Raisinghani took charge earlier this year, succeeding the company's co-founder Sahil Kini. Kini is currently the CEO of the Reserve Bank Innovation Hub. Setu provides API infrastructure for bill payments, UPI integration, KYC, and digital signatures, and operates as an RBI-licensed NBFC Account Aggregator (AA). 'The strengthened leadership team will drive Pine Labs' Setu's growth strategy as it continues to support leading banks, fintechs, and enterprises in India to help them build scalable digital financial solutions for India's evolving API (application programming interfaces)-driven infrastructure ecosystem,' the company said in a statement.
Time of India
4 days ago
- Business
- Time of India
Fintech to crypto: 5 new age finance careers you should know in 2025
The world of finance is transforming at lightning speed, thanks to the rise of fintech, cryptocurrencies, and sustainable investing. These aren't just buzzwords anymore. They represent real industries, real innovation, and most importantly, real career opportunities for students and young professionals. Tired of too many ads? go ad free now Gone are the days when a career in finance meant choosing between banking or accounting. Today, professionals are building careers in blockchain development, green finance, and AI-driven investing. Here are 5 exciting, future-forward careers that are redefining the global financial landscape, and how you can prepare for them. Fintech product manager In the fast-evolving world of digital finance, fintech product managers play a key role in shaping how people interact with money. Whether it's designing mobile banking apps or developing AI-powered credit scoring platforms, these professionals sit at the intersection of technology, business, and user experience. They are responsible for understanding consumer needs, aligning them with business goals, and collaborating with engineering and design teams to create innovative solutions. To succeed, aspiring product managers need a strong grasp of business strategy, tech fluency, UX/UI basics, and data analysis. Familiarity with agile methodologies is a big plus. Career opportunities abound at companies like Razorpay, Paytm, Stripe, Google Pay, Revolut, and PhonePe. To get started, students can take product management courses on platforms like Google or Coursera, intern with fintech startups, and build a portfolio showcasing real-world problem-solving. Blockchain developer As blockchain and cryptocurrencies move from the fringes to the financial mainstream, blockchain developers are becoming the backbone of this transformation. Tired of too many ads? go ad free now These professionals build decentralised applications (dApps), write smart contracts, and develop systems that power everything from NFTs to decentralised finance (DeFi). To enter this field, students should learn programming languages like Solidity, JavaScript, or Python, and understand blockchain protocols such as Ethereum and Polygon. The role demands both technical skill and an understanding of decentralisation principles. Career opportunities exist at crypto startups, Web3 companies, blockchain foundations, and even major financial institutions experimenting with decentralised technologies. Aspiring blockchain developers can start by contributing to open-source projects, building simple dApps, and earning certifications in blockchain development. ESG analyst (Environmental, Social, Governance ) Environmental, Social, and Governance (ESG) analysts are becoming indispensable in the investment world as companies and institutions increasingly prioritise sustainability alongside profit. These analysts evaluate businesses based on their environmental impact, ethical practices, and governance structures, helping investors make socially responsible decisions. The job requires a mix of financial analysis, sustainability knowledge, and an understanding of global ESG frameworks like GRI and SASB. ESG analysts are in demand at global investment firms, research organisations, consulting companies, and institutions like BlackRock and MSCI. Students interested in this field can begin by studying sustainable finance, taking ESG-focused certifications from organisations like the CFA Institute, and building skills in data reporting and storytelling to communicate impact effectively. Crypto compliance officer As the cryptocurrency sector grows and governments increase regulation, crypto compliance officers are becoming essential to ensuring companies remain legally and ethically sound. These professionals focus on regulatory compliance, anti-money laundering (AML), know-your-customer (KYC) procedures, and data protection in the digital asset space. The role combines legal knowledge with financial insight and a strong sense of ethics. Opportunities exist at crypto exchanges like Binance and CoinDCX, fintech companies expanding into crypto, and specialised compliance firms. Students aiming for this role should explore certifications in financial compliance (like ACAMS), stay updated on evolving crypto regulations, and consider internships with law firms or fintech startups working in regulated markets. Climate finance strategist Climate finance strategists are at the forefront of using capital to tackle environmental challenges. They help direct investments toward renewable energy, sustainable infrastructure, and carbon-reduction initiatives by developing financial models, advising on green bonds, and shaping climate-related investment policies. The role is ideal for students interested in both economics and environmental impact. It requires a solid foundation in financial modelling, an understanding of climate science, and knowledge of policy instruments like carbon markets. Career paths can lead to organizations such as the World Bank, UNDP, development banks, sustainability-focused think tanks, and ESG-driven investment funds. To get started, students can pursue courses in climate finance and environmental economics, join green policy fellowships, or intern with organisations focused on sustainability and impact investing. Whether you're a commerce student, a coder, or a climate enthusiast, there's a role for you in this new financial ecosystem. As fintech, crypto, and ESG investing continue to grow, so will career opportunities that combine values, tech, and global impact. TOI Education is on WhatsApp now. Follow us .
Time of India
4 days ago
- Business
- Time of India
Pine Labs' Setu hires senior executives to bolster growth
Pine Lab MUMBAI: Setu, a subsidiary of Pine Labs has strengthened its leadership team with a series of senior appointments over the past two months as it continues to scale its API-led financial services platform. The company has appointed Prashanth Nimmagada as chief technology officer. Prior to joining Pine Labs, he was the vice president of engineering at Razorpay. Earlier in January, Pine Labs appointed Vijeth Pandit as chief product officer. Pandit spent nearly three years at Razorpay as senior director of product management. Ramkumar Thirumurthi, who led Razorpay's neobanking vertical and co-founded has joined as chief revenue officer. In June, Setu appointed Nikhil Ratanpal, an ISB alumnus and former product lead for PhonePe's payment gateway business, as director of product development. Santosh Subramanian, with leadership experience at Yes Bank and PayU-owned Wibmo, has come on board as Head of Finance. These appointments follow the recent joining of Anand Raisinghani as chief executive officer. Raisinghani, who previously held leadership roles at SAP India. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Premium 3 & 4 BHK ( 1079 - 1829 ) from ₹72.03 Lacs* at Jessore Road Srijan Realty Learn More Undo He took charge earlier this year, succeeding Setu's cofounder Sahil Kini, who is now serving as CEO of the Reserve Bank Innovation Hub. Setu provides API infrastructure for bill payments, UPI integration, KYC, and digital signatures, and operates as an RBI-licensed NBFC Account Aggregator (AA). The strengthened leadership team will drive Pine Labs' Setu to drive growth strategy as it continues to support leading banks, fintechs, and enterprises in India to help them build scalable digital financial solutions for India's evolving API-driven infrastructure ecosystem. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
4 days ago
- Business
- Time of India
Every founder wants an IPO. Few know what it takes—until the ET Soonicorns Summit 2025
Arpit Chug, CFO, Razorpay: Academy Empower your mind, elevate your skills Sohil Parekh, CFO, Ather Energy: Building the financial narrative: Beyond just presenting numbers, the CFO must craft a compelling equity story that resonates with investors. This involves benchmarking the company's profitability against peers, identifying opportunities for improvement, and clearly articulating the long-term value creation strategy. Achieving financial and technological readiness: A successful IPO requires rock-solid financial foundations. This means implementing robust enterprise resource planning (ERP) systems, strengthening internal financial controls to meet public company standards, and building proficient finance teams across functions such as Financial Planning & Analysis (FP&A), Investor Relations (IR), and compliance. A significant number of IPO filings face delays or rejection due to disorganized reporting and weak governance, making this foundational work critical. Navigating the regulatory maze: The CFO must be the vanguard of compliance, ensuring every aspect of the company's operations and disclosures meets SEBI's stringent requirements. This includes meticulous oversight of related party transactions and ensuring the board structure is aligned with governance norms. Driving strategic capital allocation: As the custodian of shareholder funds, the CFO plays a pivotal role in deciding how capital is used, whether it's for reinvestment, acquisitions, or returning value to shareholders, all while ensuring a healthy return on capital. The Indian startup ecosystem is buzzing with renewed optimism for Initial Public Offerings (IPOs) in 2025. After a period of cautious sentiment, the market is showing signs of a robust comeback, with a strong pipeline of new-age companies gearing up to hit the public markets. This resurgence, however, comes with a transformed playbook. The 'growth at all costs' narrative that defined the previous tech boom has been firmly replaced by a demand for sustainable profitability, strong corporate governance, and clear financial this high-stakes environment, the role of the Chief Financial Officer (CFO) has evolved from a traditional bookkeeper to a strategic co-pilot for the founder. Navigating the complexities of a public listing in 2025 requires a CFO to be a master of financial strategy, a transparent storyteller, and a vigilant guardian of regulatory compliance. To shed light on this critical journey, the ET Soonicorns Summit 2025, scheduled for August 22nd in Bengaluru, will host a masterclass titled 'From Pre-IPO to Bell Ringing: The CFO Playbook for Navigating 2025's High-Stakes Market.'This crucial session at the ET Soonicorns Summit will feature two distinguished CFOs who are at the helm of financial strategy in some of India's most dynamic startups:Arpit Chug brings a wealth of experience from the highly regulated and complex world of financial services to his role at digital payments firm, the IPO-bound Razorpay , a leading fintech giant. Before joining Razorpay as its first-ever CFO, he spent 17 years at American Express, where he led finance teams across multiple verticals and geographies. At Razorpay, Chug is responsible for the finance, credit risk, and legal functions and has been instrumental in scaling the company's lending and neo-banking arms, Razorpay Capital and RazorpayX. He believes in telling financial stories through numbers and is focused on the '3Cs': effective capital allocation, robust compliance, and strategic cost management. His deep experience is vital as Razorpay, a company valued in the billions, reportedly intensifies its focus on profitability in preparation for an eventual Parekh is steering the financial journey of Ather Energy, a pioneer in India's competitive and capital-intensive electric vehicle (EV) market. His appointment as CFO was a strategic move to prepare the company for its planned public offering. Parekh, who joined Ather after more than seven years at Claris Lifesciences, took the financial reins at a critical time, tasked with guiding the company through its next phase of growth and its IPO journey. Ather has already navigated significant challenges, including the implementation of the FAME 2 scheme, and is closely watched as a bellwether for the EV manufacturing sector. Parekh's recent communications—via public statements and strategic updates—underscore the CFO's critical role in articulating Ather's financial roadmap and post-IPO session will delve into the key strategies and shifts in the IPO playbook that founders and their finance chiefs must execute for a successful listing in the current market. As the IPO landscape evolves, so do the challenges and expectations. Today's CFOs must be adept at building a compelling equity story, ensuring the company is technologically ready for the rigours of public market reporting, and navigating the ever-changing regulatory numbers paint a picture of a market on the upswing. In the second half of 2025, a massive ₹2.58 lakh crore worth of offerings are in the pipeline , a testament to renewed confidence. This follows a strong first half of the year, where 26 companies raised ₹52,200 crore . The momentum is fuelled by several factors, including strong domestic investor participation—particularly from mutual funds flush with capital from systematic investment plans (SIPs)—and private equity firms seeking profitable exits as their fund cycles this enthusiasm is tempered by a discerning investor base that now prioritises substance over sizzle. The era of valuing companies based on vanity metrics such as Gross Merchandise Value (GMV) or downloads is over. Public market investors now demand a clear line of sight to profitability, focusing on key performance indicators (KPIs) such as profit after tax (PAT), return on equity (RoE), and positive unit economics. This shift means that the IPO journey now begins much earlier, with a relentless focus on building a fundamentally sound and sustainable business model long before the bell-ringing to the complexity are recent regulatory shifts by the Securities and Exchange Board of India (SEBI). In a bid to protect retail investors and enhance corporate governance, SEBI has introduced stricter norms. These include capping the quantum of shares that existing shareholders of loss-making firms can sell in an IPO and tightening disclosure requirements around KPIs and past fundraising valuations. While some recent changes, including allowing founders to retain employee stock ownership plans (ESOPs) post-IPO, aim to make listing more attractive for startups, the overall message is clear: the path to a public listing is more rigorous and demands a higher standard of new era calls for a strategic CFO who can do much more than manage the books. The pre-IPO journey is an intense period of transformation, and the CFO is the chief architect. This masterclass will explore the core pillars of the modern CFO's playbook:The journey from a private startup to a publicly-listed entity is more challenging and scrutinised than ever before. The market's memory of tech IPOs that faltered post-listing has created a more discerning and demanding investor. Success in 2025 is not just about having a disruptive idea; it is about demonstrating a sustainable business model, impeccable governance, and a clear, profitable path founders and boards, this means recognising the strategic importance of the CFO far earlier in the company's lifecycle. Nearly nine out of ten conversations about hiring CFOs in the startup ecosystem are now centered on IPO preparedness. The role has transformed into a strategic partner to the CEO, responsible for architecting the value creation narrative and ensuring the entire organisation is ready for the intense scrutiny of public life. This masterclass at the ET Soonicorns Summit 2025, led by financial leaders who are actively navigating these waters, is therefore an unmissable opportunity. It promises to equip the next generation of founders and finance chiefs with the essential strategies and insights needed to not just ring the bell, but to build enduring value in the public markets long after the listing day celebrations have ended.360 One is the presenting partner of the ET Soonicorns Summit 2025.
