Self-reliance, sustainability, sagacious: Intellect's Arun Jain shares his mantra for Fintech's success
private investment that offers a plethora of financial products and services to the customers across all the categories. Some Indian fintech companies like Paytm, Upstox, Groww, Phonepe and others serve individual domestic customers, while others like Intellect Design Arena create advanced technology solutions for banking and insurance clients globally.
“The fintech landscape of India consists two main elements — one, financial services meant for Indian users and second, fintech built products in India, which serve banks in other countries like Middle East, the United States, Europe, etc., said Arun Jain, Managing Director of Intellect Design Arena in an interaction with the LiveMint. He highlighted the fintech opportunities in India, particularly focusing on last-mile distribution of services, while emphasizing the need for fintech solutions at the grassroot level, highlighting the importance of smaller, sustainable fintechs that cater to local needs.
Cautioning against the short-term focus of some startups, Arun Jain advocated for purpose-led companies with longer life cycles. He critiques the investor-led ecosystem that promotes quick profits over sustainable growth.
“Intellect, has not taken external funding and is self-sufficient, prioritizing long-term alignment of interests over short-term gains." Jain-led Intellect Design distinguishes itself as a tech firm rather than just being a fintech. Their focus lies in developing banking products and technologies, which they have successfully sold to 250 customers across 57 countries.
The company aims at exporting technology and generating licensing revenue similar to global giants like Microsoft and Oracle. Intellect Banking offers a range of financial products,
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