Over the past decade, entrepreneurship has become the keyword in emerging economies such as India. Technology is transforming the way we live and conduct businesses. We have fintech solutions that are making payments more accessible, ridesharing apps making travelling easier, and tech-based platforms transforming traditional businesses by enabling them to source raw materials through B2B platforms, among others.
New-age entrepreneurs harness the power of innovation and technology to reimagine life, particularly in the post-COVID-19 era. Each day, we hear inspiring stories of entrepreneurship across the country, especially when it comes to financial services. Top innovative leaders in India have managed to reimagine financial services in the country by adopting a future-oriented approach.
Tapping into the future
- Some of the top innovative leaders of the country are leading the way because they are looking at the needs of people and businesses and coming up with practical solutions. Coming with an app that will make it possible to pay for your groceries, bus rides, or even phone bills with a single tap is an example of responding to the needs of a society with high mobile proliferation. Very often, innovation and invention are a result of imagining a different future. Many of us may not even be aware of a need until we see an innovative solution to make life a lot easier. This is the gap that new-age financial services companies are trying to plug.
- Not only do financial leaders and innovators look to meet the unmet needs of society, but they also look at sustainability and long-term development. A financial solution that meets long-term needs rather than short terms redefines the way we function. Some of India’s famous personalities in finance have led to changes that make a difference in the long term. They anticipate market changes, industry changes, and changes in the economic climate.
- The ability to change, innovate, and adapt are the hallmarks of a great innovator and leader. The evolution of new technologies has made it possible for entrepreneurs to launch better solutions. One of the most significant advantages of this approach is the inclusivity it provides. Financial solutions that were earlier available only to a few are now available to the masses, particularly to people in semi-urban and rural areas.
Financial entrepreneurs leading the way to innovation
Yashish Dahiya – Chief Executive Officer and Co-Founder of online insurance marketplace Policybazaar.com, Yashish Dahiya has transformed how the insurance industry functions. The use of technology to compare and choose health, life, and auto insurance has made insurance products affordable and accessible to millions across the country. Within a decade of its inception, Policybazaar became one of the largest insurance aggregators in India.
Nikhil Kamath – Co-founder of the discount brokerage company Zerodha, Nikhil Kamath, has been part of the equity market inclusivity revolution. Established in 2010, the company has harnessed technology to enable traders and investors to enter the investment and finance world. Zerodha has also set up several online learning and educational initiatives to help retail investors.
Sanjiv Bajaj – Sanjiv Bajaj, Chairman and Managing Director of Bajaj Finserv, places significance on reinvention of a company every 3-5 years. Bajaj Finserv adopts newer technologies with the aim to enable customers to have access to financial services from anywhere. This is based on the organisation’s digital personalisation framework. He is one of the best Indian entrepreneurs.
Vijay Shekhar Sharma – Founder and Chief Executive Officer of Paytm, Vijay Shekhar Sharma has used technology to offer digital payments solutions. The success of Paytm is in its vast outreach. Indians from major cities, small towns, and even villages now use Paytm to pay their bills, buy essentials, book tickets, and conduct all sorts of transactions.
Sameer Gehlaut – Sameer Gehlaut is the Founder of the Indiabulls Group, India’s second-largest mortgage lender. The company has used technology to build a considerable presence in housing, consumer, and personal finance. Indiabulls Dhani was ranked among the most downloaded apps in the financial services space.