Fin-Tech: How digitization is shaping the financial industry?

Vaibhav Srivastava
31 July 2019

Fintech, a word made by a combination(of finance and technology). Fintech aims at improving
the operations in the banking and finance sector by digitizing the internal processes involved. It
is aimed at helping companies, businesses, and customers in managing their financial
processes & operations. Through bespoke software development, today many companies in the
banking and finance sector are creating make use of bespoke software solutions, thus helping them
in their business processes.

Some of the solutions that fintech is providing in the businesses are:

1. Marketplace (peer-to-peer) lending
2. E-commerce and merchant finance,
3. Invoicing
4. Online trading and finance

In India, fin-tech is majorly in payment processing, banking, trading, and public & private
The digital wallet giant Paytm has leveraged the features of fin-tech in its vast services. Online
payment methods such as Paypal has also employed the advantages of fin-tech.
In the banking sector, major banks such as HDFC Bank, Yes Bank, IndusInd Bank, find that
employing fin-tech in their solutions was really cost-effective, and also brought more customers.
For e.g. Bankbazaar and Paisabazaar which use fin-tech bring new customers to the IndusInd
bank. Fintech growth in India is likely to expand by 1.7 times by 2020.

Quarks is having a niche in providing the custom fintech bespoke solutions in a wide range of
E-commerce portals, banking, and other financial services.
Quarks has provided fintech solutions in varied domains such as Online Jewellery E-commerce
portal, B2B E-commerce products Portal for Industrial Products, Job Portals for national &
international companies, Insurance pocket wallet, Mutual Funds, and many others.

Our fintech solutions include a variety of domains such as:

1. Insurance services
2. Payment solutions
3. Accounting
4. Deposit and Lending features
5. Financial Research services
6. Investment Management solutions

We, Quarks, are committed to providing you with the custom bespoke fintech solutions that
meet your needs in every possible way and enhance your business to a great level.
Click here to see how Quarks created an online policy wallet for Bangalore based, series A
funded start-up in the BFSI sector.

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