The first ever Fintech Olympiad, organized by India FinTech Forum, concluded on a high note with students from top institutes winning prizes worth Rs 5 lakhs. The Olympiad aimed to promote financial and digital literacy among college students across India.
The winners were announced at the culmination of the three-day IFTA 2023 conclave held in Mumbai. Over 2000 colleges participated in the Fintech Olympiad, which also saw international participation.
The Fintech Olympiad received huge support from the industry, with Axis Asset Management as the Investor Education Partner and companies like Zerodha, CashRich and Clear as Content Partners. The initiative also got backing from Maharashtra State Innovation Society to increase its reach across the state.
As the first competition centered on boosting financial literacy, the Fintech Olympiad saw tremendous response with over 2000 colleges applying from India and abroad. Besides Indian universities, students from institutes in Hong Kong, France, USA, Indonesia, Switzerland, UK and Vietnam also took part making it a global affair.
Winners in undergraduate and postgraduate categories
In the undergraduate category, the top three winners were Seth Randive from IIIT Kottayam, Aashrith Reddy from IIT Hyderabad, and Anuj Pahuja from University of Delhi.
The postgraduate category was won by Lingeshwar Balamurugan from IIM Indore, followed by Sarthak Jain from BITS Pilani and Shashwat Shrivastava from Nirma University Ahmedabad.
The Olympiad was backed by Axis Asset Management and other leading companies. Commenting on winning the Olympiad, Lingeshwar said the experience left him inspired and informed about the evolving fintech space.
Over 1250 companies nominated for IFTA awards
The Awards ceremony saw over 1250 fintech companies nominate themselves, out of which 30 were shortlisted. Fintech Startup of the Year award went to Agrim Housing Finance.
Other winners included FamPay for Best Financial Literacy Initiative, Razorpay for Most Innovative Fintech Product, and InsuranceDekho for Excellence in InsurTech.
Report on AI in fintech launched
IFTA 2023 also marked the launch of a report on the impact of Generative AI on the fintech sector. The report was compiled by SP Jain School of Global Management along with India FinTech Forum.
It highlights how AI is transforming areas like lending, insurance, regulatory compliance among others. The report notes that AI promotes scalable and economical solutions for better customer experience.
The winners, award nominees, and speakers at IFTA 2023 provided great insights into the fast-growing fintech space in India. With over 4000 fintech firms in its network, the forum is playing a key role in promoting collaboration and innovation.
