 A very good afternoon ladies and gentlemen and we're back with another keynote for the day and today we have with us a very young and dynamic entrepreneur Tarun Nazare who is the CEO and co-founder of Neocred, which is a new bank that provides infrastructure for open banking and Tarun will be sharing some key insights on how any company can become a fintech company. That's quite an interesting topic Tarun and we'll all wait to hear from you on how will we come to become a fintech company. Over to you Tarun Over here at Neocred, we are building a stack which creates the acquiring side as well as the issuance side of the payment ecosystem over here. What we do in Neocred is with the stack we turn any company in any sector into a fintech. So today I'm going to talk about how you can turn your company into a fintech itself with giving few examples. Like in the last decade we have seen interesting collaborations between a payment service providers and players in various sectors offering financial services to their end users itself. Some of the examples are like a food delivery company facilitating the payment acceptance through a payment gateway, a ride sharing company facilitating QR-enabled payments and prepaid wallets, petroleum companies offering the prepaid cards to avail fuel at a discounted price, own manufacturing companies offering credit cards to their users and retailers acting as a micro ATM for cash withdrawal facilities over there. Most businesses are seeking new ways to monetize from their users and offer financial services and with this increasing the LTV of their product. Offering financial services to their users has been one of the ways to be able to understand the users spend patterns in a much larger through the data consumable and in terms of personalizing their journey using the data to improve their entire user experience over there. Now these banking solutions provide the company in a new way to monetize through loans and credit that are being facilitated and financial services also enable businesses to collect data which helps in understanding user preferences over here. Now FinTechs have gone all the way in facilitating a customized banking solutions which suits that respective industry needs and takes care of the compliance as well. These industry giants are observing and implementing this trend. To name a few there are like the Apple credit card, Samsung Pay, Amazon Pay, Flipkart credit card. They are actually not in the go domain of payment as a solution that they're offering but since their users facilitate that and require such a next level of product upgradation into their own existing app and plug and play with FinTech and provide the solution. Usually companies like these think that they need to build the whole banking infrastructure to facilitate that but all these wheel inventing is already done by a few of the FinTechs in the market which acts as an infrastructure near bank providers which facilitates a financial services into the respective apps in a plug and play system itself. That means in a plug and play model which is easier and companies are able to readily add banking products in their current application within a macro base itself. FinTechs have been increasingly prevalent in terms of more companies offering integrated financial products into their application and offering the best rates with their partner banks. To give a few examples like how Apple just launched their credit card, not that long ago Apple was just a software company facilitating software on their mobile phones and other devices as well. Now it has provided credit card to their premium members with their existing product line itself. Take Uber for example over there like it's a ride sharing company like if you're a driver and you want to join the Uber network. One thing is you register yourself as a driver and then if you do not have that respective vehicle then Uber facilitates that vehicle loan on behalf of you hence acting as a bank over here. Now for the driver over here he gets offered a job with Uber as well as the respective tools also are offered by Uber for him. This increases the stickiness with the company and that brand loyalty that is being created by other sectors in the market itself. Now what is happening over here at Neocred. Neocred we have partnered with multiple banks to offer this services as a banking in a box. Over here we act as a FinTech enabler. Now which means that we have created an OmniStack which understands clients user base and curate the product offerings for their clients users itself. And this is all done with a single API and a platform framework. Now this being said when companies are offering financial services in their existing platform they are creating a new banking facility inside their app itself. This stack enables any company to offer financial solutions to their users which helps them monetize through itself. Some of the solutions such as a prepaid card, a credit card or softwares or even a bank account is offered in a white label solution to the partners who want to target the audience in their respective tier one, tier two, tier three cities itself. Now payments has been part of the equation for a long time and now providing a banking solution which is easier in a more flexible manner. Companies start offering their own financial services to their own respective market itself. We have seen credit who is offering financial services only to the premium 1% of that population itself. We have seen opinion by facilitating softwares to their existing merchant base itself. Now this enables the ecosystem to become a complete open banking platform which democratizes the way people bank. So thank you for this. Thank you Tarun that was quite interesting. But I have a question here. I mean, you have been making a lot of collaborations in the banking domain. So I just want to know how does that work out in the current scenario. So more or less, you know, when we collaborate with the bank, we get a lot of APIs and get a lot of process flow that we put across, you know, on the omni stack itself. A few of the APIs has to be, you know, customized to segment and facilitate in that respective domain itself. Given an example, like, you know, a shell petroleum, when they offer prepaid cards to their user, they offer it in a way that it intensively incentivizes the users while fueling it. Now there are tweaks that happens in the banking platform in partnership with the bank and its core banking solution provider itself. In terms of changing the way that financial product is offered in that respective segment itself. Okay, okay, interesting. Well, I also have some audience questions coming here and they're asking me, is there any way fintech startups can tap into the population that still doesn't have smartphones. There are very interesting use cases that even while, you know, you need to avail a few things right now in an online mode. The NPCI and the government initiative they're coming with an offline mode itself for the basic phone that are used by the population itself. So it's an SMS based transaction that is happening through a basic phone itself so that yes fintech we are enabling those features as well. Okay, quite interesting. So what's the current user base like if you could share with us for your platform. So over here we cater to more than 10 million user bases across various platforms. So one being on the prepaid segment in facilitating a prepaid card to those target audience into the tier markets. One is on the credit as an instrument so we tie up with the NBFC banks to facilitate to entrepreneurs as well as on the retail segment itself. And we have soft boss wherein we white level it and facilitated to the companies who already have a merchant base. Okay, okay. And the current customer base would be majority of, I mean, the banking domain. Yeah, more or less see on the acquiring side, it is about a 3 million wherein through merchants we first we acquire merchants itself, not in the direct manner but through partnering with companies already have a merchant business. So indirect acquisition happens in that vertical and on the card issue inside we have about 7 million customers that we facilitate prepaid cards for. This can be multiple use cases like gift card incentive card or wellness card or a retailer card or a student near bank itself. Okay, okay the student card is I mean it is for teenagers or is it for college. So the partner that we have facilitates student payment card to below 18 as well as the above 18 as in terms of schools and colleges as well. Now we have went into deep level integration with them that if a parent wants to take care of the health, like suppose they don't want their child to eat a samosa. Now if he goes and taps and the samosa is part of the bill and it doesn't go through the payment. So that's the kind of, you know, keeping the health of the parent, the health of the student as well as a check for the parent. Okay, okay. So how are you promoting it among the student community? So we don't do it on a direct basis. So we have few partners who are already acting as a friend facing application for the students and schools and colleges. They're not only on the card basis that they are facilitating this banking services but also on the salaries that are given to teachers. They are in terms of attendance, instead of a manual attendance wherein you say yesterday and everything, rather you just tap on the door of the, you know, classroom that you take the card and you tap it and then the attendance is recorded. So most of us we have, you know, dealt with our friends giving attendance for us like that. But here in this case we have solved those attendance issues. Okay, that's quite interesting. But there are either, I mean, more focused toward Metro cities or you have users from tier two in other towns as well. The best part is the, you know, the company that we are tied up with, they have more concentration in tier two, three, four cities like that as compared to tier one cities itself. The real problems in terms of educating a customer, making sure that the product is being used in those markets where there are larger population as compared to the tier one cities itself. So if the tier two is able to use your product in a very efficient manner than the tier one. Okay, interesting. And going forward, I mean, do you think this is something which can be taken global? Definitely. So, you know, the partners that we have in terms of the processors and the bank itself can facilitate this use case globally. Then, you know, India being a validation market, once we validate the product put over here, it can just be, you know, multiplied and white labeled in other markets as well. Quite interesting. I must say it looks like a revolutionary product. Definitely. So we being on the both side of the tables in terms of issuance of the card and in terms of where the card is being tapped on the acquiring side as well. So we get to see the both side of the table in terms of how the ecosystem is working and then we upgrade our product accordingly to those system requirements. Okay. Okay. Great. So with this term, I would like to thank you for taking time.