Infographic: Fintech Firms Are Taking India by Storm: Here’s How Salesforce Is Helping Them Succeed

Unleashing Fintech’s Potential

From bite-sized insurance policies to contactless payments, fintech solutions are changing the financial services game in India.

India: A hotbed of fintech innovation

• 2,100+ Fintech firms
• $50-60 Bn Total fintech industry valuation (2020)
• $2.7 Bn Investments attracted in 2020
• Payments, insurtech, wealthtech - Hottest areas of investment  
• 11 Fintech Unicorns (as of August 2021)¹

What’s fuelling the fintech revolution?

• Powerful digital infrastructure
  • IndiaStack
  • UPI
  • OCEN
  • NPCI
• Regulatory push 
  • Regulatory sandboxes
  • Digi-lockers
  • Video KYC
  • Licencing of account aggregators
• Government initiatives
  • Make in India
  • Startup India
  • RuPay
  • PM Jan-Dhan Yojana scheme
    
• Other favourable factors
  • A large underbanked population
  • Deep smartphone penetration
  • Strong tech talent
  • Increased funding
  • Demonetisation, COVID-19, and the shift to digital

Despite the opportunities, it can be challenging to grow a fintech business.

• In many parts of India, cash is still king.
• Data security concerns are rising.
• Extending your reach to tier-3 cities and beyond isn’t easy.
• Competition from both fintech and techfin firms is on the rise.
• Many teams work in silos, fracturing the customer experience.
• Robust API platforms are needed to connect to partner systems at the back-end.

Here’s how Salesforce can help

• Accelerate growth
  • Personalise customer experiences
  • Sell smarter
  • Strengthen trust through better security
  • Improve partner collaboration

• Scale seamlessly and cost-effectively
  • Enable omni-channel servicing
  • Make transactions effortless
  • Automate and streamline processes
• Make smarter, faster decisions
  • Unlock deep insights
  • Gain a 360-degree customer view
  • Optimise spend

“We take care of all your marketing, sales, service, analytics, and customer engagement needs, so that you can focus on what you do best—building digital finance solutions that customers love.”

- Arundhati Bhattacharya, Salesforce India CEO and Chairperson
 

Salesforce is enabling fintech companies around the world to thrive
 

1. Digital lending

“Salesforce is like the motherboard of our operations, bringing everything together. The microprocessors and chips that we plug into that motherboard are our partners, our service providers, and our customers.”

- Shivashish Chatterjee, Co-Founder and Managing Director, DMI Finance
 

2. WealthTech

“We run a very lean operation. With technology, we can make our sales, marketing, and service activities more efficient. Salesforce enables us to scale our client base without increasing the ratio of employees.”

- Matthieu Remy, CEO, Easyvest

3. Payments

“Thanks to Salesforce, the turnaround time from when a lead is captured, to when the sales team closes it has reduced, improving the customer experience.” 

- Chunmun Gupta, Sales Strategy Head, Razorpay India.

4. InsurTech

“Service Cloud has really been a game changer for us in that it empowers our support team to drive a positive outcome for clients. Also, we’re able to service about 5x the number of customers that traditional brokers have while providing a personalised experience.”

- Steve Sloan, Founder and CEO, Insure 247

5. Neobanks

“We’ve been really impressed with how quickly we can iterate on the Salesforce platform.”

- Michael Samarkos, Head of Operations and Customer Care, Volt Bank
 

Find out more about how Salesforce can support your fintech business. Read our new e-book – Unleashing Fintech’s Potential.