Page 12 - Top 10 India's Financial Startup 2019
P. 12
“ With mobile phone penetration
expected to increase to 85-90
percent in 2020 and internet
penetration steadily climbing, the
iKuber seeks
growth potential for Fintech in
to serve this
massive need India cannot be overstated.
Moreover, by some estimates,
by harnessing as much as 90 percent of small
businesses are not linked to formal
the very latest financial institutions.
technologies and These gaps in access to institutions
thus providing and services offer important scope
to develop fintech solutions and
Digital solutions expand the market base.
and Scientific Furthermore, there is a:
tools Lack of comprehensive Financial
Planning tools across Asset classes
(Mutual Funds / Insurance /
Pensions etc.)
Absence of One-Stop
“
Kuber Financial Services is a Protection / Insurance gap to the Comprehensive Service Provider
company started by IIT and tune of 90% translating into an across Financial Products
iStanford alumnus and industry amount to the tune of USD 8.6 Complex procedures with multiple
experts having a vast experience in Trillion. Effective Management System interfaces
the Financial Services domain. The of Savings, Investments and Lack of Awareness of Investment
founders have been in leadership Protection thus assumes critical Options and coverage for
positions in the Financial Services importance. Customers in Tier 2 / 3 cities
industry and possess very keen iKuber seeks to serve this In terms of Existing alternatives,
insights into its workings. They massive need by harnessing the there is
are also upbeat on the significant very latest technologies and thus Incomplete scoping in Financial
bearing of Fintech on the society at providing Digital solutions and Planning that too across just a few
large. They opine that the markets Scientific tools to deliver faster, financial Assets
are not perfect and there exist better financial services including Investors have to approach
gaps in terms of trust, quality, tangible benefits by way of lower Multiple Distributors across
effectiveness and reach of financial prices , better returns and more Assets viz. MFs, Corporate FDs,
services. iKuber has thus stepped choices. Insurance, Loans etc
into the market with a view Challenges & iKuber’s calibrated Over dependence on intermediaries
towards addressing these gaps and response while investing due to lack of
launched its unique unparalleled India’s financial technology awareness of investment options
digital concept of the “Financial (fintech) sector though young is There exist players in the market
Marketplace” – All Financial growing rapidly, fuelled by a large providing disaggregated services
Products Under One Roof. market base, an innovation-driven across Asset classes which
The Fintech sector has the capacity approach, and friendly government limits the end-to-end view of the
to deliver huge benefits across policies and regulations. Customer’s Portfolio leading to
society: to small businesses - and Additionally, India has a large inability to provide Comprehensive
to ordinary people, including the untapped market for financial Solutions across Financial Assets
disadvantaged and vulnerable. service technology startups – a catering to Specific Needs of
India as an economy is at the cusp significant proportion of the 40 each Customer’s life stage and
of a Savings boom. An estimated percent population is currently not are focused more on ‘pushing’
USD 12 Trillion of savings over connected to banks and 87 percent products rather than offering
the next 10 years! There is also a of payments are made in cash. tailor-made solutions. Paper
