Starting a Fintech Business in 3 months and that also in India, might sound Filmy. But it is true. You can always Start a Fintech Business in India in 90 days.
So What is the Solutions for Speedy, Secure & Scalable Fintech Startup?
If you get the solution developed by a team which is technology wise strong and the business logic and decisions backed up by financial veteran.
Starting a Fintech Business of your own will require 2 primary things
a. Strong team from Technology
b. Strong team from Financial Background
c. Strong team from Marketing Background as well as other area of business too.
Technology Stack for Fintech
- Frontend Development
- Backend development
- API development
- Mobile App Development
Below is an example of Headcount of IT and Marketing Team to run a small / medium sized fintech in India.
- Solution Architect (1)
- Project Manager (1)
- Developers (3-5)
- Possess Good Knowledge of REST API and financial technology integration
- SEM Manager 1 Head Count
- SEO Project Manager – 1 Head Count
- SMO Manager 1 Head Count
- Data Analytics Executive
- Graphic Designer/Art Director
- Content Planner/Writer
- Video Editor/Creator
- Interns – SEO
- Interns – Graphic Designer
- Interns – Content Writing
Financial Background Stack
- A well known achiever on consumer lending
- Tryst with all financial segments like SME, Personal etc channels and geographies
- worked with best private bank and best NBFC at leadership levels
- Familiar with contemporary technology – API banking, Machine Learning, Risk Analytics
- Extensive experience of scaling up businesses, cost management & Risk analytics
You should also have a proper Risk Management Approach.
Similarly There must be people with financial background experience, sales people, tele callers, admin and HR
For Detailed Head Count and Basic Salary Structure you can contact us at [email protected]
Terms required for technology Solution to Accelerate your business and give you an edge over your competition.
- API Based System
- Banking and Payment Gateway APIS
- Digital Onboarding and Underwriting Services
- Loan Management Platform
- Full Stack Data Analytics
- Provision of connecting with Aadhar, EKYC, NSDL etc. – API key has to be purchased by you, we can guide and help you in sourcing these
Starting a Fintech Business in Short Span
You will need the different types of loans
Different Types of Loans Available in India
- Secured Loans : These are loans that do require collateral.
- Unsecured Loans
Types of secured loans that you can include while Starting your Fintech Business in India
- Home loan
- Loan against property (LAP)
- Loans against insurance policies
- Gold loans
- Loans against mutual funds and shares
- Loans against fixed deposits
Types of unsecured loan that you can include while Starting your Fintech Business in India
- Personal loan
- Short-term business loans – Another type of unsecured loans, a short-term business loan can be used to meet their expansion and daily expenses by various entities and organizations.
- Working capital loans
- Machinery loans and equipment finance
- Small business loans for MSMEs
- Loans for women entrepreneurs
- Loans for traders
- Loans for manufacturers
- Loans for service enterprises
Based on what they are used for, loans are classified mainly into:
1. Education loans
2. Vehicle loans
Products that a Fintech can Add into their Portfolio.
- Agriculture Finance
- Gig Economy Finance
- Education Finance
- Consumption Finance
- Health care finance
- Credit line products
- Buy now pay lager products
The Point is, With all these understanding and technology integration as well as development, it will really be great if you can find a ready made solution.
We own the ready made solution for Fintech. Interested you may contact me at [email protected] or call me at +919871192979
View the Ready to go solution here. CashDash