ETBFSI Virtual Summit: Stability before scale is the mantra of India's FinTech firms

The Banking and Finance Industry has been supporting the economy whereas the Fintech space is supporting BFSI in scaling up its functions. In these hard times when people are laden with fear of physical contact, we discuss with some of the fintechs in our session with their view of how fintechs are enabling the BFSI sector and how the scenario has changed while working from home.

Anand Kumar Bajaj, Co-founder & CEO of PayNearby, describes how “Collaboration and productivity are at their highest peak and yet there are challenges”. Following the strategy of “Stability before Scale” he told that even after planning for 2x, 3x volume, they had faced a system crash when Coronavirus had caused a surge in their volumes to a level of 4x or even 5x.

In these testing times, the entire force of 8 Lakh employees of PayNearby is helping the entire DBT payment system by working hand in hand with the government.

  • Source – Economic Times