Madhusudanan R. A Pioneer In The Fintech Space Addressing The Gaps In The Fintech Sector
Madhusudanan R.
Co-Founder & CEO
Madhusudanan engages in an exclusive interaction with CEO Insights.
What were the gaps you foresaw in the market that inspired you to establish M2P Fintech? How is M2P Fintech functioning currently to bridge those gaps?
I think the biggest opportunity that we saw when we were gearing up to commence our journey was the fact that a lot of companies wanted to offer efficient and seamless banking or payment products in general. Earlier, getting these products to the market used to take about six months to a year, or even two years in some cases.
This was mainly due to various challenges that banks had to face concerning providing their technology to someone outside the banks. Recognizing this gap as an opportunity we laid the foundation for M2P FinTech. Now after seven years, we have almost 30 banks and 600 FinTech enterprises that use our platform. We power some of the best Banks and FinTechs across 20 markets in MENA & APAC regions, and we have consistently been delivering and working towards our mission to make every company a FinTech. Thanks to the growth of
FinTech in India, we have been able to experience an exponential boost in recent years.
As a premium FinTech organization, what is the unique proposition that M2P Fintech offers to clients?
There are many companies currently present in the FinTech domain, that are ultimately helping businesses access different financial services. But sometimes small-scale businesses are denied financial services. In such cases, technology can be a game changer.
Today, technology has become so widely adopted that many of us can watch Netflix or enjoy a game of IPL on streaming platforms like Hotstar, simultaneously. So, technology has levelled the playing field especially with regards to access to media, entertainment, and gaming. Financial services will also similarly catch up, with technology playing a pivotal role in the delivery of financial services. Therefore, we and a platform like ours need to ensure that we can expand on broad based access. This is what inspires us and keeps us going.
What are the latest technologies that you are currently leveraging across the operations of M2P FinTech?
At present, we are doing a lot of research work on leveraging blockchain capability in settlements and running back office functions. Also, from a risk management product standpoint, we are partnering with companies that are doing unique work in the Artificial Intelligence segment. While we ourselves are yet to acquire such capabilities, we're trying to partner with institutions that are currently doing it, so that, we can learn, test, and grow. So those are the two areas that are at the cutting edge of tech, and we believe that they can change the dynamics of the FinTech sector significantly.
What are the major challenges you have experienced in your journey so far? How did you overcome them and what did you learn from them?
I think the biggest challenge is convincing banks to work with you. At a global level as well, banks have always been slow in adopting technology. So, convincing them to join this booming FinTech ecosystem has been the biggest
As a premium FinTech organization, what is the unique proposition that M2P Fintech offers to clients?
There are many companies currently present in the FinTech domain, that are ultimately helping businesses access different financial services. But sometimes small-scale businesses are denied financial services. In such cases, technology can be a game changer.
We power some of the best Banks and FinTechs across 20 markets in MENA & APAC regions, and we have consistently been delivering and working towards our mission to make every company a FinTech
Today, technology has become so widely adopted that many of us can watch Netflix or enjoy a game of IPL on streaming platforms like Hotstar, simultaneously. So, technology has levelled the playing field especially with regards to access to media, entertainment, and gaming. Financial services will also similarly catch up, with technology playing a pivotal role in the delivery of financial services. Therefore, we and a platform like ours need to ensure that we can expand on broad based access. This is what inspires us and keeps us going.
What are the latest technologies that you are currently leveraging across the operations of M2P FinTech?
At present, we are doing a lot of research work on leveraging blockchain capability in settlements and running back office functions. Also, from a risk management product standpoint, we are partnering with companies that are doing unique work in the Artificial Intelligence segment. While we ourselves are yet to acquire such capabilities, we're trying to partner with institutions that are currently doing it, so that, we can learn, test, and grow. So those are the two areas that are at the cutting edge of tech, and we believe that they can change the dynamics of the FinTech sector significantly.
What are the major challenges you have experienced in your journey so far? How did you overcome them and what did you learn from them?
I think the biggest challenge is convincing banks to work with you. At a global level as well, banks have always been slow in adopting technology. So, convincing them to join this booming FinTech ecosystem has been the biggest
challenge. Since there are no shortcuts in this you must just keep at it and continue explaining the value your product or services can add to the bank, so that, over time people will be open to adopting new technology.
Concerning the changes in market behavior and the opportunities that you foresee at present, are you currently fostering any expansion plans concerning the industry?
We have been, expanding both geographically and in terms of the products that we have been offering. We continue to identify gaps in the market in terms of fintech requirements and using our expertise and domain knowledge create products that can seamlessly add value to the end customer. Our value proposition is also expanding, as we have a lot of products in our pipeline. We have also made a few strategic acquisitions recently to complement our current offerings. Chasing both organic and inorganic growth across national as well as international markets, we are successfully active in about 20 markets. We are also planning to venture across different market verticals that will ascertain exponential growth for us and cement our position as one of the leading players in the national as well as international markets.
In the light of your strong experience in the FinTech domain, what advice would you give to the budding entrepreneurs?
I think in several markets, including India, the best time to conceive a start-up is now. Though a lot of correction is necessary across the present market scenario and things are not that great from a fundraising standpoint, I believe that the best companies are built during the downturn. My advice to the entrepreneurs will be, that there is no better time to lay the foundation of a startup than now. We just have to focus on the values you can bring to the table and not worry about the valuation which is just a by product. We have to just keep ensuring that the value that we are bringing to the table is significant and is prone to gradual expansion rather than facing marginal depletion over time. So, we must keep our focus to make sure that we deliver a lot ofvalue to our customers, so that, we eventually will be able to build the valuation that is required.
Madhusudanan R., Co-Founder & CEO, M2P Fintech
A finTech entrepreneur with deep-rooted experience in building and scaling Payment businesses across MENA &APAC, Madhusudanan is often identified as a knowledge powerhouse. He feels startups are constantly challenged and aims to transform every business into a Fintech by making technology proficient and accessible for all.
Concerning the changes in market behavior and the opportunities that you foresee at present, are you currently fostering any expansion plans concerning the industry?
We have been, expanding both geographically and in terms of the products that we have been offering. We continue to identify gaps in the market in terms of fintech requirements and using our expertise and domain knowledge create products that can seamlessly add value to the end customer. Our value proposition is also expanding, as we have a lot of products in our pipeline. We have also made a few strategic acquisitions recently to complement our current offerings. Chasing both organic and inorganic growth across national as well as international markets, we are successfully active in about 20 markets. We are also planning to venture across different market verticals that will ascertain exponential growth for us and cement our position as one of the leading players in the national as well as international markets.
In the light of your strong experience in the FinTech domain, what advice would you give to the budding entrepreneurs?
I think in several markets, including India, the best time to conceive a start-up is now. Though a lot of correction is necessary across the present market scenario and things are not that great from a fundraising standpoint, I believe that the best companies are built during the downturn. My advice to the entrepreneurs will be, that there is no better time to lay the foundation of a startup than now. We just have to focus on the values you can bring to the table and not worry about the valuation which is just a by product. We have to just keep ensuring that the value that we are bringing to the table is significant and is prone to gradual expansion rather than facing marginal depletion over time. So, we must keep our focus to make sure that we deliver a lot ofvalue to our customers, so that, we eventually will be able to build the valuation that is required.
Madhusudanan R., Co-Founder & CEO, M2P Fintech
A finTech entrepreneur with deep-rooted experience in building and scaling Payment businesses across MENA &APAC, Madhusudanan is often identified as a knowledge powerhouse. He feels startups are constantly challenged and aims to transform every business into a Fintech by making technology proficient and accessible for all.