- Over 40,000 students representing 2,000+ colleges nationwide registered for the Fintech Olympiad. Following 4 online rounds and 11 regional rounds held across 6 cities, 150 finalists advanced to compete in the National Finals held in Mumbai during IFTA 2024.
- The Fintech Olympiad is a dynamic competition aimed at equipping students with essential knowledge of personal financial management and a comprehensive introduction to the fintech industry in an interactive and engaging format.
- Launched last year by the India FinTech Forum, the Fintech Olympiad serves as a key initiative to foster financial and digital literacy among India’s youth.
- IFTA 2024 concluded its day-long conclave with remarkable participation from industry stalwarts, including Shri Ananth Narayan Gopalakrishnan, Whole Time Member at SEBI; Shri Venkat N. Chalasani, Chief Executive of AMFI; Mr. Gopal Srinivasan, MD of TVS Capital; Mr. Vineet Rai, Founder of Aavishkar Group; and Ms. Aditi Kothari Desai, Vice Chairperson at DSP Asset Managers.
- IFTA 2024 witnessed participation from over 1,850 companies, showcasing widespread engagement across the fintech ecosystem.
- At IFTA 2024, Perfios and PwC unveiled their report titled ‘How India Spends: A Deep Dive into Consumer Spending Behaviour’, offering key insights into the nation’s spending patterns.
Mumbai, 13th December 2024: The India FinTech Forum, a premier platform for fintech startups and companies in India, proudly announced the winners of the Fintech Olympiad 2024. The competition, now in its second edition, awarded winners from a prize pool worth ₹5 lakh in cash and non-cash benefits.
Winners of the National Finals of Fintech Olympiad 2024:
Students Category:
- Madhur Tike, Welingkar Mumbai
- Vinit Jadhav, NMIMS MPSTME
- Anuj Shukla, PSIT Kanpur
Professionals Category:
- Greeshma Pasham, Verticle Technologies
- Seth Randive, Hyperface
- Sanil Basutkar, Bharatsure
Key Highlights:
- Massive Participation: Over 40,000 registrations from 2,000+ colleges nationwide.
- Rigorous Selection Process: 11 regional rounds and 4 online rounds led to the selection of 150 finalists across student and professional categories.
Supported by the Association of Mutual Funds in India (AMFI) as the Financial Literacy Partner, the competition focused on promoting financial literacy and digital fluency to prepare students for high-growth fintech opportunities. Axis Mutual Fund also contributed as the Investor Education Partner.
Sougata Basu, Founder of CashRich and Executive Committee Member of India FinTech Forum, said:
“At the 9th India FinTech Forum, we witnessed groundbreaking discussions on how AI is transforming financial services. From enhancing personalized customer experiences to advanced risk management, AI is clearly shaping the future of fintech. Seeing industry leaders and innovators collaborate to redefine financial services delivery was truly inspiring.”
The India FinTech Forum’s Annual IFTA 2024 concluded on 12th December 2024, featuring prominent leaders such as Shri Ananth Narayan Gopalakrishnan (Whole Time Member, SEBI), Shri Venkat N. Chalasani (Chief Executive, AMFI), Mr. Gopal Srinivasan (MD, TVS Capital), Mr. Vineet Rai (Founder, Aavishkar Group), Mr. Ajay Rajan (Country Head – Digital and Transaction Banking, YES Bank), and several other stalwarts.
Winners of IFTA 2024:
- Fintech Startup of the Year: AsaanWill
- Fintech Rising Stars: Boharr, Data Sutram, Hedged.in, Effortless
- Fintech Scaleup of the Year: Wealthy
- Fintech Scaleup Star: Ozone API
- Most Innovative Fintech Product: smallcase
- Best Innovation in Digital Lending: Yubi
- Best International Fintech in India: Ozone API
- Best Fintech Initiative for Social Impact: Protean eGov Technologies
- Excellence in Payments: PayGlocal
- Best Use of AI in Fintech: Digital India Bhashini Division
- Best Innovation in RegTech: Digio
- Best Innovation in WealthTech: Jar
- Best Technology Company for Fintech Solutions: M2P
- Excellence in InsurTech: Roadzen
- Best Initiative for Financial Literacy: Zerodha Varsity
A special report titled “How India Spends”, jointly launched by Perfios and PwC, provided key insights into Indian consumer spending patterns. The report segmented expenses into obligatory (39%), discretionary (29%), and necessity (32%) categories. It revealed notable trends such as:
- Individuals allocate 33% of their income to EMIs.
- Residents of Tier 2 cities spend more on medical bills (₹2,450/month per person) compared to Tier 1 residents.
The India FinTech Forum continues to celebrate innovation and foster the growth of fintech startups across India, playing a pivotal role in shaping the country’s financial technology landscape.
