Women's Day: Shepreneurs Shaping India's Fintech Futures

On this International Women's Day, let's celebrate the women entrepreneurs of India who exemplify the nation's progress in terms of Inclusion, Empowerment, and Shepreneurshakti. These women are the driving force behind innovation and transformation in various sectors. Today, we are honoured to feature Ms. Jaya Vaidyanathan, a visionary entrepreneur in the field of digital transformation.

Leading the Charge: Jaya Vaidyanathan

Ms. Jaya Vaidyanathan, the CEO of BCT Digital and an independent director on the global board of PwC, has delivered disruptive fintech, regtech, and cleantech solutions to large organizations across diverse industries. With over two decades of industry experience, she has been a driving force in product strategy, innovation, and digital transformation.

The Challenges and Opportunities for Startups in Fintech

In an interview with TICE, Ms. Jaya shared insights into the challenges and opportunities for startups in the current business environment, especially in the FinTech sector. She emphasized the shift in investor focus from merely having a great idea to staying profitable, focusing on the bottom line, and ensuring a vision for sustainable growth.

"Staying the course, looking at profitability, and focusing on the bottom line are now more important than ever," she remarked. Ms. Jaya highlighted the importance of financial metrics like EBITDA and cautioned against overlooking the funding for the right systems, predicting a survival-of-the-fittest scenario.

Navigating Finances and Scaling Up

Addressing the crucial aspect of financial management for startups, Ms. Jaya emphasized the need to measure investments back into the business, grow profitably, and focus on scalable and profitable growth. She advised startups to be mindful of acquisitions, ensuring they are synergistic and contribute to the overall business strategy.

Ms. Jaya stressed the importance of governance in startups, particularly when led by technology experts. She encouraged founders to seek help and build the right leadership for mature growth.

"There's no shame in asking for help," she stated, emphasizing the need for a balance between technology and business vision.

Valuations: A Balanced Approach

Responding to a question about the obsession with valuations, Ms. Jaya cautioned against growing solely for the sake of valuation. While acknowledging the importance of being attractive to investors, she emphasized that valuation should not be the sole focus. "You're not developing a business for valuation," she added.

The Future of FinTech: Trends and Innovations

Looking ahead, Ms. Jaya discussed the growth trajectory of the fintech industry in 2024. She highlighted the changing perspective of banks towards fintechs, considering them as partners rather than competitors. She also touched upon trends like digital investments in branch operations, back-office efficiency, and increased focus on risk management.

Bridging the Gap: Nurturing Entrepreneurial Mindset

Ms. Jaya shared her insights on bridging the gap between academia and industry, especially in nurturing an entrepreneurial mindset among students. She emphasized the need for mentorship programs, industry collaboration, and governmental support to encourage innovation at the grassroots level.

"India needs to start innovation at the grassroots level and then propel it to see a culture change," she concluded.

The conversation with Ms Jaya sheds light on the challenges and opportunities in the dynamic world of fintech, emphasizing the crucial role of women entrepreneurs in shaping India's entrepreneurial landscape.

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