| |August 20195VOL 2 · ISSUE 7-4 · AUGUST 23 - 2019Technology in its various forms has always been intrinsic to banking and financial services, from the days of the abacus onwards. More recently, payments systems allowed the growth of credit and debit cards, and auto-teller machines cut out human bank clerks and allowed customers to serve themselves.But financial technology, as currently understood, has a much more specific meaning. It refers to the use of the latest technology effectively to upend traditional financial-services structures, with the aim of rendering obsolete not only large bank branch networks but, possibly, large banks as well.In the process, according to fintech's advocates, costs will be slashed, services improved and the customer will prove to be the ultimate beneficiary. Sure we will. Whatever be the picture, we'll get ahead of ourselves. There is a clear distinction between fintech activities by existing giants, and relatively-young companies that were involved in fintech from the start. Then there is fintech designed to be used within financial institutions, whether back-office technology or machine-learning equipment to work alongside human traders, and fintech whose target market is the consumer. India's financial technology (fintech) sector may be young but is growing rapidly, fueled by a large market base, an innovation-driven startup landscape, and friendly government policies and regulations. Last year, the National Association of Software and Services Companies (NASSCOM) reported that around 400 fintech firms operated in India, boosted in large part by foreign investments in fintech-focused startup accelerators and incubators. NASSCOM predicts that India's fintech software market alone could touch US$ 2.4 billion by 2020, doubling on the current rate of growth.In this edition, we have recognized the 10 most recommended financial technology solution providers of 2019. The possibilities are vast and we will have to come out with several such issues to accommodate all the exceptional disruptors in this market. I'm sure these vendors have achieved great feat in their endeavour to serve the financial domain. Do let us know your opinion. Emmanuel Christi DasEditoremmanuel@cioinsiderindia.comAn Ocean Full of Financial Technologists Office Editorial queries editor@cioinsiderindia.comAdvertising queriessales@cioinsiderindia.comBangaloreTel 080 46441103 To subscribeVisit www.cioinsiderindia.com/magazine-in or send email to: subscription@cioinsiderindia.comCover price is Rs 150 per issueAshok KumarSales & MarketingAshu SethiGroup Art DirectorMagendran PerumalCirculation ManagerEditorial TeamChitra MishraShiwani PrakashVinisha PaivaAnitha TLakshmi GCIOInsiderNo. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugheshpalya, Bangalore-560017Veena R Piddannavar VimalrajVisualizers PublisherEditorAlok ChaturvediEmmanuel Christi DasPrinted and published by Alok Chaturvedi on Behalf of SiliconMedia Technologies Pvt Ltd and Printed at Precision Fototype Services at Sri Sabari Shopping Com-plex, 24 Residency Road Bangalore-560025 and Published at No. 124, 2nd Floor, Surya Chambers, Old Airport Road, Murugeshpalya, Bangalore-560017.Copyright © 2019 SiliconMedia Technologies Pvt Ltd, All rights reserved. Reproduction in whole or part of any text, photography or illustrations without written permission from the publisher is prohibited. The publisher assumes no responsibility for unsolicited manuscripts, photographs or illustrations. Views and opinions expressed in this publication are not necessarily those of the magazine and accordingly, no liability is assumed by the publisher.Editorial
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