Pradeep Kumar R.

Securing transactions at scale has been the incessant challenge most payment aggregators are delving with. Merchants being digitally onboarded with low KYC often transition between Dr Jekyll and Mr. Hyde roles. Revisiting merchant risk profiling and approaches to risk mitigation are key to prevent frauds and laundering. This is a good step and hopefully would see the light of day soon enough! Data is not enough-ability to use it in realtime at scale will decide the efficiency of the risk management process- Drona Pay has been built for that play!

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Do payment systems empower retail stores with growth enablers? After spending 24 years in the industry, I still wonder if, as payment enablers, we are only fixing up the last-mile issue of connecting transactions with payment fulfillment. Such a large market capitalization of payment system in India is only doing this, or there are many other facets to it in developing the overall retail ecosystem. Looking forward to gaining insights from payment professionals on this aspect. #payments #fintech #pos #gateway #paymentsystem #acquiring #merchantacquiring #retailindia #retailecosystem

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UPI has undeniably transformed the digital payments landscape in India - with over 14 billion monthly transactions and 350 million users, UPI’s impact is staggering. What’s more impressive is its potential to revolutionise cross-border payments through interoperability and strategic partnerships. UPI’s approach to A2A transactions sets a benchmark for innovation. By simplifying P2P and P2M payments and offering a seamless, secure experience, UPI has driven digital adoption across India and set itself up to influence global markets. How can other countries replicate UPI’s success in creating a ‘less cash’ society? The collaboration between NIPL and foreign central banks to build sovereign, interoperable payment systems is a step in the right direction. But what will it take for these systems to achieve the same level of success? I’d love to hear your thoughts on how UPI’s model could be adapted and implemented globally. #DigitalPayments #Fintech #UPI #Innovation

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India's digital banking push is causing concerns for the Reserve Bank of India (RBI) amidst the Credit Suisse collapse. The rapid growth of digital lending and fintech has led to: 1. Increased credit risk 2. Lack of regulation and oversight 3. Potential for systemic instability The RBI is struggling to keep pace with the evolving landscape, highlighting the need for robust regulation and risk management frameworks. The Credit Suisse collapse serves as a cautionary tale, underscoring the importance of prudent risk management in the digital banking space. #DigitalBanking #RBI #Fintech #CreditRisk #Regulation

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🚀 𝐇𝐨𝐰 𝐌𝐨𝐛𝐢𝐊𝐰𝐢𝐤’𝐬 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐲 𝐓𝐮𝐫𝐧𝐞𝐝 𝐭𝐡𝐞 𝐓𝐢𝐝𝐞 𝐨𝐧 𝐔𝐧𝐢𝐧𝐬𝐭𝐚𝐥𝐥𝐬 📈 In 2008, MobiKwik was founded with a bold vision to revolutionize India's digital payments landscape. What began as a digital wallet has evolved into a fintech powerhouse, offering services like BNPL (Buy Now, Pay Later) and wealth management, all while maintaining a focus on financial inclusion. With over 140 million users, MobiKwik is a name synonymous with innovation and growth. But let’s dive into their marketing journey. 🧠 As competition in the fintech space intensified, MobiKwik faced a crucial challenge: retaining users and reducing app uninstalls. To tackle this, MobiKwik leveraged advanced analytics and personalized engagement tools that allowed them to segment their user base effectively. They crafted targeted marketing campaigns tailored to specific user needs, leading to a 25% reduction in uninstalls and a significant boost in user engagement. The success of these marketing efforts was not just reflected in user retention but also in the company's financial growth. In FY24, MobiKwik reported a net profit of ₹14 crore and a 62% increase in revenue, a clear indicator that their strategies are paying off. This success story wouldn’t be complete without mentioning the leadership driving it. Co-founders Bipin Preet Singh and Upasana Taku have been at the helm, steering MobiKwik toward capturing a significant share of India’s $1 trillion fintech opportunity by 2025. Bipin’s focus on innovation and Upasana’s strategic execution have been pivotal in making MobiKwik a leader in the industry. MobiKwik’s journey is a powerful example of how targeted marketing strategies, combined with strong leadership and data-driven decision-making, can turn challenges into tremendous growth opportunities. 🌟 #Fintech #MarketingStrategy #DigitalTransformation #Leadership #MobiKwik #CustomerRetention #Innovation

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Hear me speak at 9th Annual edition India Fintech Forum’s IFTA 2024, where I dive deep into how platforms will drive the next era of Banking transformation. #IFTA2024 #FintechLeadership

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Retail Store Payment Reminders Rahul, a retail store owner in Mumbai, needed an efficient way to manage overdue payments from customers. His primary challenge was ensuring timely reminders to enhance cash flow without adding more administrative tasks. Guided by Puneet Rawat, Rahul implemented the WhatsApp API through wa.expert, integrating it with Google Sheets to automate payment reminders based on the scheduled dates. This system allowed Rahul to send personalized reminders directly to customers' phones, ensuring higher response rates and quicker payments. This strategy significantly reduced overdue payments, improving Rahul's business liquidity. #RetailManagement #PaymentReminders #WhatsAppAPI #waexpert #FinancialEfficiency Disclaimer: Please note: The names of individuals have been changed to protect their privacy and security.

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UPI Apps Market share is a testimony of what happens when a technology disrupts As my team put together this- we were discussing on how this will continue to bring value to World and make 🇮🇳 Indians more proud

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Embracing Digital Payments: Facilitating Seamless Transactions for D2C Brands in India A direct model in the new digital age has also proved to be more efficient while ensuring that the brand experience is not compromised. Plus, going D2C is no longer an onerous task which will take months and a dedicated team of professionals. Claro Agro, one of the first few brands to launch a D2C grocery store in India, made the digital shift in less than a week, thanks to ecommerce enabler- Shopify. But beyond adoption, the success of D2C models depends on another crucial factor – digital payments. The rise of digital payments firms in India has set the ground and strengthened people’s trust in online shopping, but more needs to be done. A recent report by RedSeer also indicates significant growth in the digital payments space as Indian economy begins to recover post lockdown. This sector is expected to grow 2x and touch $60 Tn by 2022, “Driven by a continued rise in private expenditure, with retail consumption at the forefront, and a significant increase in digital maturity of the Indian customers.” For instance, Shopify has tied up with PayPal to provide end-to-end solutions for enabling Indian D2C brands and businesses to accept payments from all over the world without any hassles. The powerful combination of Shopify’s easy to use cross-border tools and PayPal’s fast, safe checkout experience can help brands unlock the power of global direct-to-consumer commerce in no time. “Since most D2C brands are new and unknown, trust and credibility needs to be established for consumers to buy and make repeat purchases, especially in terms any concerns regarding payments, product Quality, returns and refunds,” according to Prabhkiran Singh, founder, Bewakoof, which was one of the pioneers in the D2C space, having started off in 2012. The reality is that despite the consumer-side and supply-side momentum to the D2C model, issues and concerns around India’s regulatory frameworks for payments and legal compliances for online brands still overwhelm many new startups and aspiring entrepreneurs.

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How GCCs are Transforming the BFSI Industry with Cutting-edge Technologies Did you know AI and ML revolutionise fraud detection, customer service, & risk management in the BFSI sector? As someone closely associated with a leading GCC of an MNC bank, I've seen these centres' transformative power firsthand. Here's how top technology trends are shaping GCCs: AI and ML: - Fraud Detection: Real-time identification & prevention of fraudulent activities. - Customer Service: AI-powered chatbots providing instant, personalised support. - Risk Management: Predictive analytics enhancing financial risk assessments. Cybersecurity: - Threat Detection: AI-driven solutions for advanced threat detection. - Data Protection: Robust encryption ensuring compliance with global regulations. - Secure Transactions: Enhanced security for online transactions. Blockchain: - Transparent Transactions: Secure & immutable ledger reducing fraud. - Smart Contracts: Automating contract execution & settlement. - KYC and AML: Streamlining processes with secure data sharing. The impact is profound: enhanced security, operational efficiency, and customer satisfaction, driving innovation and competitiveness. Is Your GCC Ready for the Future of Technology? GCCs are not just cost-saving hubs but innovation powerhouses driving efficiency and growth within large organisations. One of the most exciting advancements we've seen is the integration of AI and ML. AI and ML are revolutionising operations from fraud detection to customer service automation and risk management. But that's just the tip of the iceberg. Cybersecurity remains a top priority. We can safeguard our data & operations more effectively than ever with AI-driven threat detection, robust encryption, and secure transaction protocols. Blockchain technology is another game-changer. It offers secure, transparent transactions and streamlines KYC and AML processes, making financial operations more efficient and less fraud-prone. Cloud computing, big data analytics, and RPA enhance scalability, flexibility, & operational efficiency. They enable us to make data-driven decisions & automate routine tasks, reducing costs and improving accuracy. Questions GCC Leaders Should Ask: 1. How can we leverage AI and ML to enhance our operations and customer service? 2. Are our cybersecurity measures up to date with the latest threats? 3. How can blockchain technology improve our transaction security & regulatory compliance? 4. Are we fully utilising cloud computing to scale our operations efficiently? 5. What steps are we taking to implement big data analytics for better decision-making? 6. How can RPA automate repetitive tasks & reduce costs? Let's share our experiences and insights. How is your GCC embracing these technology trends? Views expressed are personal. #AI #MachineLearning #Cybersecurity #Blockchain #CloudComputing #BigData #RPA #IoT #5G #EdgeComputing #Sustainability #BFSI #GCC #Innovation #TechTrends #CXO #Leadership

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A really good article by Jyotindra Dubey in The Economic Times highlighting how Arvind Dham, the ex-promoter of Amtek Auto built a network of 500 shell companies and appointed dummy directors (junior employees such as drivers, office boys, peons) to divert loan proceeds and perpetrate fraud. Kudos to Mr. Dubey for unraveling the fraud so diligently. In my experience, tools such as Ultimate Beneficial Owner (UBO) Reports, Legal Entity Identifier (LEI), and KYC Checks can play a role in identifying linked companies through minute checks - common addresses, phone numbers, mobile numbers or URLs of different entities. It is not easy to detect these linkages, but there are telltale signs.....even the most consummate fraudsters leave some clues. The best part is that these Identity Checks, UBO Reports and KYC tools are inexpensive, despite being remarkably effective. Have you made these counterparty checks a part of your credit, supplier and compliance risk assessment and monitoring workflow? If you need more information about these solutions, the team at Rubix Data Sciences Private Limited will be happy to help. You can reach us at: Phone: +91-22-4974 4274 Email: [email protected] #KYC #UltimateBeneficialOwner #UBO #Fraud #ShellCompanies #DummyDirectors #CreditRisk #MoneyLaundering #SupplierRisk #ComplianceRisk Mohan Ramaswamy Mohan Tanksale Samiran Ghosh Tushar Bhaskar Ankita Drolia Abhishek Shetty Anand Date Kaustubh Barve Simantini Biswas Hasan Naqvi Anshuman Thakur Ravi Khiyani Amandeep Bhatia Manova Ramachandran Ramaswamy Iyer Vinod Parmar chittur krishnan venkatesh Sundeep Bhalla Amit Parmar BALBIR MAAN LITESH MAJETHIA Ambika Ravi Nesal Lalan Anurag Joshi Rahul Khanna Kalyan Basu Manish Gadia Thyagarajan Krishnamuthy

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It was a great conversation with Rachana Bahadur on how we all can contribute to inclusivity and equity in our own ways and how can organisations can help structure and elevate it #HerRising2024 HerKey

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Govt business is the best business , govt is 40-50% partner in each enterprise even if you make loss as start up and Private business ! NCPI, CSC, are most profitable organisations , while they are tasked to do financial inclusion, imagine VC funded and listed companies payment companesies are not allowed to make money out of UPI and UPI brings profits to govt ! Debatable .. which is public and which is private for profit business ?

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𝗖𝗿𝗼𝘀𝘀–𝗰𝘂𝗹𝘁𝘂𝗿𝗮𝗹 𝗰𝗼𝗹𝗹𝗮𝗯𝗼𝗿𝗮𝘁𝗶𝗼𝗻 𝗺𝗮𝗸𝗲𝘀 𝘂𝘀 𝘀𝘁𝗿𝗼𝗻𝗴𝗲𝗿 When I spoke with Ashutosh Karandikar, CCXP Karandikar, CCXP for TheXTpodcast , he taught me so much! https://lnkd.in/gUYiagJK He enhanced my 𝟲 𝗘𝘀 𝗳𝗿𝗮𝗺𝗲𝘄𝗼𝗿𝗸 𝗳𝗼𝗿 𝗵𝘂𝗺𝗮𝗻𝗰𝗲𝗻𝘁𝗿𝗶𝗰 𝗹𝗲𝗮𝗱𝗲𝗿𝘀𝗵𝗶𝗽 with some powerful and highly relevant insights from Indian traditions. A part of my message that I don't always make explicit is the urgent need 𝘁𝗼 𝗽𝗿𝗼𝘁𝗲𝗰𝘁, 𝗽𝗿𝗲𝘀𝗲𝗿𝘃𝗲, 𝗮𝗻𝗱 𝗽𝗿𝗼𝗺𝗼𝘁𝗲 𝗵𝘂𝗺𝗮𝗻 𝗱𝗶𝗴𝗻𝗶𝘁𝘆 𝗮𝘁 𝘄𝗼𝗿𝗸. Ashutosh helped me see how the word "𝗻𝗮𝗺𝗮𝘀𝘁𝗲" applies to that urgent need. He reminded me that the strategies involved in the 𝗘𝗺𝗽𝗮𝘁𝗵𝗶𝘇𝗲, 𝗘𝗻𝗰𝗼𝘂𝗿𝗮𝗴𝗲, 𝗮𝗻𝗱 𝗘𝗱𝘂𝗰𝗮𝘁𝗲 disciplines described in my book (𝘚𝘵𝘰𝘱 𝘌𝘯𝘨𝘢𝘨𝘪𝘯𝘨 𝘌𝘮𝘱𝘭𝘰𝘺𝘦𝘦𝘴: 𝘚𝘵𝘢𝘳𝘵 𝘔𝘢𝘬𝘪𝘯𝘨 𝘞𝘰𝘳𝘬 𝘔𝘰𝘳𝘦 𝘏𝘶𝘮𝘢𝘯) build on the humble, inquiry-based approaches of history's greatest gurus and philosophers. I loved chatting with and learning from Ashutosh, and I hope you will too. #humancentricity #leadership #professionalspeaker #stopengagingemployees

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The Reserve Bank of India (RBI) has taken a monumental step to enhance the security and efficiency of our digital payment ecosystem by setting up a dedicated panel to suggest digital public infrastructure platform specialised to tackle frauds. With the exponential growth of UPI and other digital payment instruments, it's critical to fortify our payment systems with cutting-edge technology and robust policies. A huge congratulations to the esteemed panel led by AP Hota sir, and the distinguished members Vipin Kashiram Surelia sir and Arif Khan sir. Your expertise and vision will be pivotal in crafting a secure and innovative digital payment infrastructure to combat fraud and ensure safe transactions for all. Looking forward to the transformative impact this initiative will bring to our digital economy! 🚀💡 #DigitalPayments #RBIPanel #Fintech #Innovation #Security #UPI #DigitalInfrastructure #bbps #npci

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🚀 A Decade of Fintech Marvels: Unveiling India's Digital Banking Revolution! ✨ It's been an exhilarating journey through the realm of financial tech in India, where innovation has not only transformed digital banking but also reshaped the very fabric of traditional institutions. Here's a captivating glimpse into the transformative power of fintech, with some compelling examples from the Indian landscape: 🌟 Embracing Neobanks: Fintech disruptors like Paytm, PhonePe & Razorpay have stormed the scene with agile, user-centric platforms, setting a blazing trail for faster, more convenient financial services. This seismic shift has compelled conventional banks to pivot swiftly towards digital transformation or risk being left behind in the dust. 📱Elevating User Experience: Fintech's relentless pursuit of excellence has ushered in an era of intuitive, mobile-first experiences. From Slice's lightning-fast credit card approvals to NiyoX's sleek neobanking platform tailored for corporates, the focus on seamless functionalities within mobile apps has redefined user expectations & raised the bar for traditional banking interfaces. 🔍Unleashing the Power of Data & AI: Enter the era of AI-powered wizardry, where Khosla Labs' revolutionary credit scoring algorithms and KredX's savvy invoice discounting solutions are rewriting the rules of engagement. With personalized financial insights, enhanced fraud detection, & streamlined processes, the marriage of data & AI is driving unprecedented efficiency and elevating customer service to new heights. 🤝 Forging Alliances in the Open Banking Arena: In the spirit of collaboration, open banking initiatives like NPCI's Unified Payments Interface (UPI) are fostering a vibrant ecosystem of innovation and creativity. BharatPe's UPI-based payments platform & Yodlee's prowess in open banking data aggregation are just glimpses of the dynamic partnerships shaping the future of finance. Impact on Conventional Banks: 🔷 Digital Transformation at Warp Speed: Behemoths like HDFC, ICICI, & SBI are embarking on exhilarating digital odysseys, racing against time to harness fintech's disruptive potential & retain their foothold in the ever-evolving financial landscape. 🤝 Strategic Partnerships as Catalysts for Change: Witness the alchemy of collaboration as banks forge strategic alliances with fintech luminaries like PhonePe (Axis Bank) and Paytm (ICICI Bank), leveraging their nimbleness and expertise to offer an eclectic array of services to their clientele. 🔬 Pioneering Innovation at Every Turn: With the heat turned up, banks are staking their claim in the innovation arena, establishing dedicated labs & pouring resources into research & development to stay ahead of the curve. As we gaze into the horizon, the future of digital banking promises an exhilarating fusion of emerging technologies like embedded finance, blockchain, & the metaverse. #FintechFrontiers #DigitalBankingRevolution #InnovateOrPerish #FutureofFinance

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Submitted a talk proposal for the marquee Agile India 2025 conference. The talk is on topic "Reimagining our Product Construct through the DIDI Way" where I cover why its time to move beyond the Data=>Information equation to Decision => Insight model. Do have a look at the proposal and share your valuable feedback to further improve this proposal. #Agile #AgileIndia #Data #Information

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UPI Circle: A New Era in Delegated Digital Payments The National Payments Corporation of India (NPCI) introduces #UPICircle, a groundbreaking feature currently being piloted with prominent payment platforms such as Amazon Pay, Google Pay, PhonePe, and #BHIM. This innovation facilitates delegated payments, enabling users to authorize trusted individuals like children, senior citizens, or household staff to transact using their UPI-linked accounts within a secure framework. 🔎 Potential Use Cases and Impact: The introduction of UPI Circle paves the way for diverse applications, including: 1. Junior college students conducting cashless transactions via parental UPI accounts. 2. Domestic workers undertaking shopping responsibilities for their employers. 3. Drivers purchasing fuel on behalf of vehicle owners using their UPI accounts. These functionalities aim to expand UPI's user base, presently at 300 million, by engaging young and elderly demographics, thereby positioning UPI Circle as a key growth facilitator within the digital payments landscape. Commitment to Security and Fraud Prevention: In an era where digital payment fraud is prevalent, particularly against vulnerable populations, UPI Circle emphasizes robust security measures. The primary account holder exercises control over all transactions, necessitating authentication for every transaction performed by secondary users, thus mitigating unauthorized access risks. Professional Perspective: "UPI Circle represents a significant stride towards financial inclusion, empowering traditionally underserved groups, such as senior citizens, by offering a secure yet flexible payment solution. This development is poised to revolutionize routine payment activities while maintaining stringent security protocols, thereby augmenting UPI's role in India's digital economy." As these applications evolve from limited testing phases to comprehensive public deployments, UPI Circle is positioned to redefine household digital payment management across India, reinforcing UPI's dominant status in the global payments sector. #InnovatewithNPCI #FintechLeadership #DigitalPayments #UPICircle #FinancialInclusion @National Payments Corporation of India (NPCI), @Innovate with NPCI, @NPCI Fintech Solutions, @Reserve Bank of India (RBI), @BHIM

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