IFTA 2024 announces winners of National Finals of Fintech Olympiad

• 40,000+ students from across the country registered for the Fintech Olympiad from 2000+ colleges. Around 150 students were shortlisted over 4 online and 11 Regional Rounds across 6 cities for the National Finals held in Mumbai at IFTA.

• The Fintech Olympiad is a multifaceted competition designed to empower students with a basic understanding of managing personal finances and an overview of the fintech industry in an engaging way.

• Fintech Olympiad was launched last year by India FinTech Forum as an initiative to promote financial and digital literacy for the youth.

• IFTA 2024 successfully concluded the full day conclave with participation from stellar industry leaders including Shri Ananth Narayan Gopalakrishnan, Whole Time Member, SEBI, Shri Venkat N. Chalasani, Chief Executive, AMFI, Mr. Gopal Srinivasan, MD, TVS Capital, Mr. Vineet Rai, Founder, Aavishkar Group, and Ms. Aditi Kothari Desai, Vice Chairperson, DSP Asset Managers

• 1850+ companies participated in IFTA 2024

• Perfios and PwC launched a report at IFTA on ‘How India Spends: A Deep Dive into Consumer Spending Behaviour’

Mumbai, 13th Dec, 2024: India FinTech Forum, a leading platform for Fintech startups and companies in India, has announced the winners of its second edition of the Fintech Olympiad. The finalists won from a prize pool of Rs. 5 lac throughout the year in cash and non-cash benefits.

The winners of the National Finals of the Fintech Olympiad 2024 are:

Students Category:

1. Madhur Tike, Welingkar Mumbai

2. Vinit Jadhav, NMIMS MPSTME

3. Anuj Shukla, PSIT Kanpur

Professionals Category:

1. Greeshma Pasham, Verticle Technologies

2. Seth Randive, Hyperface

3. Sanil Basutkar, Bharatsure

Key Highlights of National Finals of the Fintech Olympiad:

• Massive Participation: Over 40,000 registrations from 2,000+ colleges across India

• Rigorous Selection Process: 11 regional rounds and 4 online rounds culminated in 150 finalists being selected across the student and young professional categories.

The Association of Mutual Funds in India (AMFI) supported the initiative as the Financial Literacy Partner. The competition’s focus on financial literacy and digital fluency aims to prepare students for high-growth opportunities in the fintech sector. Axis Mutual Fund was the Investor Education Partner for Fintech Olympiad 2024.

Sougata Basu, Founder, CashRich and Executive Committee Member of India FinTech Forum said, “At the 9th India FinTech Forum, we witnessed groundbreaking discussions on how AI is transforming financial services. From personalized customer experiences to advanced risk management, the conference highlighted the trends shaping the future of FinTech. It was inspiring to see industry leaders and innovators come together to redefine the delivery of financial services with AI at the core.”

IFTA 2024, which concluded on 12th Dec, 2024, saw the participation of senior industry leaders including Shri Ananth Narayan Gopalakrishnan, Whole Time Member, SEBI, Shri Venkat N. Chalasani, Chief Executive, AMFI, Mr. Gopal Srinivasan, MD, TVS Capital, Mr. Vineet Rai, Founder, Aavishkar Group, Mr. Ajay Rajan, Country Head – Digital and Transaction Banking, YES Bank and many stalwarts in attendance. IFTA is known for celebrating innovation and recognizing groundbreaking fintech startups. The winners of IFTA 2024 are:

1. Fintech Startup of the Year: AsaanWill

2. Fintech Rising Stars: Boharr, Data Sutram, Hedged.in, Effortless

3. Fintech Scaleup of the Year: Wealthy

4. Fintech Scaleup Star: Ozone API

5. Most Innovative Fintech Product: smallcase

6. Best Innovation in Digital Lending: Yubi

7. Best International Fintech in India: Ozone API

8. Best Fintech Initiative For Social Impact: Protean eGov Technologies

9. Excellence in Payments: PayGlocal

10. Best Use of AI in Fintech: Digital India Bhashini Division

11. Best Innovation in RegTech: Digio

12. Best Innovation in WealthTech: Jar

13. Best Technology Company for Fintech Solutions: M2P

14. Excellence in InsurTech: Roadzen

15. Best Initiative for Financial Literacy: Zerodha Varsity

Perfios and PwC launched a report on ‘How India Spends’, which offers a comprehensive insight into Indian consumer spending. The report analyses the spending by consumers across 3 key categories : Obligatory, discretionary and necessity expenses, which contribute 39%, 29% and 32% of all consumer expenses. Individuals across tiers of cities spend 33% of their income towards EMIs. People living in tier 2 cities outpace tier 1 residents in spending on medical bills which averages at Rs. 2,450 per month per person in tier 2 towns.