CIO Insider

CIOInsider India Magazine

  • Pallavi Shrivastava, Co-Founder

    Pallavi Shrivastava, Co-Founder

  • With significant growth opportunities for the fintech market in India today, Progcap, established in 2017, has been aiding numerous micro and small organizations to sustainably grow their businesses by addressing the needs of these businesses with tailored financing solutions. With a broader picture of building a stronger economy for India, Progcap's flexible, collateral free credit helps in removing one of the biggest hurdles towards scale and economic opportunities by plugging them into formal financing systems. The company's first-of-its-kind Last Mile Financing Facilities are aimed at broadening the financial opportunities of individuals and businesses from traders, merchants, and shopkeepers, retailers, among others.

  • Progcap: Accelerating Business Growth Through Last Mile Financing Solutions

Fintechs Enter The Fine-Tuning Phase

By: Sujith Vasudevan, Assistant Editor

T he evolution of the fintech industry in the subcontinent posts an inspiring anecdote. Started as a value added feature of banking,

Artificial Intelligence & Automation - Your Recipe For Success

By: Sunil Mehra, VP-Cloud Platform, Oracle India

Artificial intelligence (AI) and Automation are the new power couple in town. Together, they are creating

10 Most Recommended Fintech Startups - 2020

Innovation Is The Key Factor For Fintechs To Keep The Pace Going

By: Manish Bhatia, President - Technology, Analytics & Capabilities, Lendingkart

During the dotcom boom from 1995 to 2000s, then commerce startups like Amazon, eBay, PayPal, were able to build businesses


Courage, Covid & Corporate Finance

By: Amit Marwah (CFA), Chief Investment Officer, Dayim Holdings

What does one need in times of a black swan event like Covid? A bit of courage to take bold steps towards present resilience & future sustainability


Application Modernization - Empowering Banking During COVID-19 And Beyond?

By: Neelesh Kripalani, Sr. VP & Head - Center of Excellence, Clover Infotech

As the Coronavirus pandemic and the resultant lockdown gripped the country, many businesses were adversely affected and the banking


Essential Digital Transformation Guide For Growing Businesses

By: Debasis Ray, Senior Vice President - Technology, Cybage

Technology is changing the society, it is embedded in everything we do, improving the ways we work, live, and experience this world.


How IT Can Liberate AI And Empower The Organization

By: Anil Kaul, CEO, Absolut data

It’s an exciting time to be a CIO. With big data maturing into artificial intelligence (AI) capabilities, massive shifts in technologies, tools and solutions are taking place.

  • 10 Most Recommended Fintech Startups - 2020

    It’s a great omen that India, alongside China, is the fastest growing fintech market in the world. The subcontinent has a fintech adoption rate of 87 percent out of all emerging markets in the world. Remember, the global average adoption rate stood at 64 percent. Given the population of more than 130 crore, the sky's the only limit for fintech startups in the country. According to, the fintech market in India is anticipated to touch approximately Rs.6,207.41 billion by 2025, growing at a CAGR of around 22.7 percent. The bettering digital infrastructure, dynamically growing mobile users, and increasing adoption of the internet drive this trend. The Indian startups have been successfully leveraging this trend to attract increased investments into the sector. The excellent initiatives by the government of India ranging from Digital India to demonetization, Jan Dhan Yojana, Unified Payment Interface (UPI), and India Stack have also acted as a tailwind for the startups. However, in order to drive the benefits out of the aforementioned market trend, the startups will have to improve the lack of consumers' trust on digital payment platforms; to say nothing of the cyber and data security threats. Discerning the key progressions and developments in the Indian fintech-startup ecosystem, CIO Insider has come up with a list of ‘10 Most Recommended Fintech Startups - 2020’. The list comprises startups that have shown immense proficiency in their operations, improving financial literacy, and building an ecosystem around them, and in turn have been significantly driving the fintech industry’s growth bandwagon in India. The following list has undergone strict scrutiny by a panel of experts that include industry veterans & subject matter experts, CMOs, CEOs, analysts, and the CIO Insider editorial team. Let’s take a look.

10 Most Recommended Fintech Startups - 2020

Company Logo Company Name Company Management Company Description
ADVANCE.AI ADVANCE.AI Darshan Shah, Managing Director a leading big data and AI company in Asia helping to solve digital transformation, fraud prevention and process automation for enterprise clients
AllCloud AllCloud Ashish Khadloya, CTO A cloud technology provider delivering comprehensive range of SaaS solutions across Financial Services industry
CityCash CityCash Vineet Toshniwal, Founder & CEO Focuses on NFC based card payments to provide offline tap-to-pay based payment solutions for small-value, high-volume transactions
Groww: The Well-Informed Personal Assistant for Wealth Management Groww Lalit Keshre, Co-Founder & CEO A web & mobile platform powered AI & ML, acting as the modern-day investor’s personal wealth management assistant by offering them information, ease of usage and transparency
Kalp Fintech: Offering a Robust Credit Risk Management Platform Kalp Fintech Rahul Joshi, CTO Offers data driven Risk Assessment through a platform that unifies and centralizes the overall process
Novopay Solutions Novopay Solutions Gautam Bandyopadhyay, Co-Founder Expertise revolves around Digital Banking System, Payment solutions, and financial services
Numberz: Enabling Corporates to View, Track & Collect Unpaid Invoices numberz Rajeev Chari, Co-Founder & COO An enterprise B2B intelligent accounts receivable & collections platform that makes getting paid faster, easier and more predictable
OMA Digital Solutions OMA Digital Solutions Niranj Sangal, Group CEO Leverages contactless & NFC technologies to deliver Payment Issuance, Payment Acquiring and Card Personalization Solutions
Progcap: Accelerating Business Growth Through Last Mile Financing Solutions Progcap Pallavi Shrivastava, Co-Founder Offers Last Mile Financing Solutions to aid micro enterprises take their businesses to its optimum
PurplePath: Presenting Finobot, Your 'Siri' for Financial Needs PurplePath Wealth Management Solutions Arun Ramaswamy, Founder & CEO A technology-powered new generation wealth management platform, acting as a personal wealth management assistant of individuals

Past Issues

  • SRIMONEY: Empowering Financial Inclusion through Technology

    Manish Kumar