India’s Leading BFSI and FinTech Companies 2021

1 The Banking, Financial Services and Insurance (BFSI) sector serves as the bulwark of any economy by ensuring sustained growth. In the context of the Indian economy, it is critical owing to its ability to connect and serve the masses. The sector has created important linkages between the wider population and the productive sectors of the economy and is the engine for financial inclusion. Likewise, in recent years, FinTechs have emerged as an important component of the financial services ecosystem, by helping reduce costs and making financial services accessible to the under-served. Acknowledging the key role played by BFSI companies and FinTechs, Dun & Bradstreet India is pleased to present the publication, ‘India’s Leading BFSI and FinTech Companies 2021’ . The publication, now in its 13th edition, is one of the most credible compendiums on the Indian BFSI sector. While the publication has traditionally listed and profiled BFSI companies, the 2021 edition has also included FinTechs for the first time ever. TheCOVID-19pandemichas impacted the IndianBFSI sector significantly. On one hand, the BFSI sector, which relied heavily on personal connect with customers was suddenly forced to shift to a zero-contact mode. Furthermore, various stimulus and relief packages introduced by the Government have forced the BFSI sector to go the extra mile in terms of maintaining liquidity and managing credit risks. Thankfully, the intelligent deployment of advanced technologies has helped the sector not only address its long term business continuity and resilience objectives, but also other key priorities such as customer experience, omni-channels, predictive analysis, risk management and better reach & distribution, among many others. There are several examples of how FinTechs kept the financial services engine running during the pandemic. For Preface Avinash Gupta Managing Director - India Dun & Bradstreet instance, FinTechs in the payments and lending space not only helped individuals and businesses execute payment- related transactions and stay operational in a contactless mode, but also helped them bridge their funding gaps. Mutually beneficial partnerships between financial service providers and FinTechs have played an important role in making these possible. Partnerships between financial institutions and FinTechs can prove to be a win-win proposition for both sides. With innovations like blockchain, AI, ML peer-to-peer lending, equity crowdfunding and mobile payment systems, FinTechs are transforming existing industry structures and the way financial service providers deliver products and services. FinTechs can provide innovation, the means to enhance customer engagement and reduced costs through efficiencies. On the other hand, BFSI companies can provide FinTechs with distribution and volumes in terms of revenue as well as market share, and also knowledge about regulations and compliance. If such partnerships succeed, India would be able to optimise FinTech adoption, which in turn can help create incremental GDP over the next 20 years equivalent to the amount that has been generated since independence. I hope you will enjoy reading this publication and look forward to receiving your valuable feedback and suggestions. Dun & Bradstreet