Understanding FinTech can appear manageable for those with a few years of experience, approximately 5 years or more. Yet, achieving a full understanding of the subject, with all its complex details, isn’t something that comes easily. While we can grasp the basics, truly unraveling the intricate layers of FinTech demands a deeper level of study and expertise, often gained through decades of hands-on experience.
Maintaining operational excellence in the realm of FinTech is crucial but a challenging task for ensuring the seamless delivery of financial services. It involves a meticulous approach to managing and optimizing various operational aspects, including transaction processing, customer service, and technological infrastructure. By upholding rigorous standards and leveraging advanced technological solutions.
Fintech’s Blue Ocean Strategy: Revolutionizing Financial Accessibility and Powerful Customer Experience
As Fintech ventures navigate the competitive market, the application of the GMPI- Growth, Maintain, Protect, and Improve framework emerges as the Blue Ocean strategy, propelling companies to explore uncharted territories and redefine the financial services landscape. The assimilation of the GMPI framework within the Blue Ocean strategy not only redefines the modus operandi of Fintech enterprises but also sets the stage for an era of transformative technological advancements and unparalleled customer experiences,
To model the Fintech enterprise, its better use a method rather than make things up on the go. A method guarantees results and increases the productivity, predictability, repeatability and reliability of the business modelling and transformation. What would be part of this method though? It is good to have. Most of the FinTech companies wins on the principal of “The ability to relate to people, to inspire and motivate them is what you must ever work on as a leader”.
Financial inclusion is a key enabler in reducing poverty & boosting prosperity and to get delivery of financial services at affordable costs to sections of low-income segments of society, in contrast to financial exclusion where those services are not available or affordable. Getting payment products to “understand” each other, or to be “interoperable,” is a big challenge to solve under financial inclusion model.
By overcoming geographical barriers and leveraging local partnerships, this model not only facilitates transactions but also empowers communities economically. It has proven to be a catalyst for positive change, fostering entrepreneurship, education, and improved standards of living in regions where traditional banking infrastructure is limited. The success of this model underscores its adaptability and relevance across diverse socio-economic contexts.