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Digitizing the Ecosystem The company's vision is to create a financially inclusive universe. Recognizing India alone has a total addressable market of about 700 million people in terms of its internet population; the company is also operating in other markets with potential

By Saptak Bardhan

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M2P Fintech
Prabhu Rangarajan, co-founder, M2P Fintech

Fintech products and offerings have been fragmented with the FIs having to collaborate with multiple partners to add features and products to their offering to make the customer experience better. M2P offers the products needed for a FI as a single platform similar to how cloud platforms like AWS offers to pick and choose the necessary components and pay-as-you-go. In terms of payments infrastructure, India is far ahead of any developed country in terms of both technology and adoption. M2P Fintech makes cutting-edge products in India for the world while operating in over 20 markets across the APAC and MENA regions.

The company's vision is to create a financially inclusive universe. Recognizing India alone has a total addressable market of about 700 million people in terms of its internet population; the company is also operating in other markets with potential. The company believes that there is enough room for multiple players to collaborate and co-create products and capabilities for the larger ecosystem.

"Our approach towards competition is not to compete but to work together with other players in the industry to bring innovative solutions to the market. We firmly believe that collaboration will drive more significant advancements in the industry than competition. We as a single entity would be insufficient to attain the vision and hence our mission is to build platform capabilities and tools to enable innovators to extend and build on top of it," said Prabhu Rangarajan, co-founder, M2P Fintech.

M2P Fintech achieved organic growth while being bootstrapped and maintaining profitability. However, as the company began to scale and look towards global expansion, it raised venture funding to support its inorganic expansion through acquisitions. Over the last year, its revenue has grown significantly by four to five times. The company has achieved the growth by expanding both organically and inorganically. M2P has acquired five companies within the past 18 months..

"Regulations should be viewed as enablers that set clear boundaries and allow businesses to design their products efficiently in a compliant manner. We recognize the importance of complying with regulations, and we actively seek to work with regulatory bodies to ensure that our products and services are in line with their guidelines," added Rangarajan. "India is among the few countries with a regulatory body that is keeping pace with the fast-evolving environment of fintech. We have witnessed the constant drafting of new frameworks and regulations, which have enabled innovation across the spectrum while maintaining a safe and secure ecosystem for users."

One of the most significant developments in the Indian fintech industry has been the Unified Payments Interface (UPI), which has become a global phenomenon. As M2P Fintech continues to grow and expand, it remains committed to complying with regulations and contributing to the evolution of the fintech industry in India and beyond. Building a comprehensive Fintech Cloud from India to the world, the company hopes to leverage data and regulatory framework like account aggregator and ONDC to enhance product offerings and ultimately impact customer experience. M2P Fintech started out as a payment stack provider, offering debit/credit cards, prepaid instruments and UPI payment solutions and has evolved as a tech-enabler in the world of banking, offering end-to-end lending solutions and digital core banking infrastructure.

The company is actively growing in the APAC region's Indonesia, Philippines, and Vietnam and intends to keep an eye out for products that would enhance its offerings while seeking good opportunities for inorganic growth as well.

Saptak Bardhan

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