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The IBSi Global FinTech Innovation Awards 2025, scheduled to take place on 21st November in Mumbai, is set to honour the most innovative FinTech solutions from around the globe. Last year's edition saw over 400 submissions from 155 banks and 90 tech vendors, and this year promises even broader global participation.
The awards offer a platform for both startups and established banks to showcase their innovation, impact, and scalability to the global FinTech community. Winners will receive year-long visibility through editorial features, thought leadership opportunities, and industry event integrations.
In the current economic climate, the potential 0.5% GDP dip could tighten investor sentiment and funding for startups. However, some sectors such as IT services and pharma export remain unaffected, preserving stability for FinTechs tied to these industries.
FinTechs are playing a crucial role in facilitating cross-border transactions, offering dynamic FX solutions, and digitising trade finance as India diversifies exports towards the EU, UK, and Southeast Asia. This is particularly important as tariffs in labor-intensive export sectors like textiles and gems may impact SME revenues and credit demand.
Government initiatives like PLI schemes and GST rationalisation can empower FinTechs to support MSMEs in adapting to new markets. FinTech companies like Razorpay and PhonePe are already leveraging these initiatives to help Indian small and medium enterprises enter new markets.
In the realm of digital banking, KAF Digital Bank has secured BNM approval for public launch, while Alaan has raised $48m to fuel GCC FinTech expansion. In the payments sector, ONE App has launched BNPL, boosting digital retail in Bahrain, and LoanTube brings real-time SME loans to Push Group users.
Cross-border payment FinTechs could see slower growth due to reduced trade volumes. However, Volante processes $1.4tn transactions on Fedwire for faster payments, demonstrating the resilience of these services even in challenging times.
In the realm of AI and machine learning, Uzum has raised $70m to scale across Central Asia. The awards will honour innovation in categories such as Core Banking, Digital Lending, AI/ML, and GenAI.
Fibe has raised $27m to boost digital credit access, while Bank Albilad has tapped Intellect to boost wholesale banking. These developments underscore the ongoing evolution of the FinTech landscape, with companies continually seeking to innovate and improve their offerings.
The 2025 edition of the IBSi Global FinTech Innovation Awards promises to be a celebration of these innovations and the companies driving them forward. As the FinTech sector continues to grow and evolve, these awards provide a valuable opportunity for recognition and networking, fostering collaboration and driving the industry forward.
