Fintech or TechFins: Two Sides of the same coin of Bank Digital Transformation Space

TechFins support the end to end Digital Transformation of a process from Origination to Credit underwriting to disbursement and also servicing.

CIOL Bureau
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Bank Digital Transformation

The world of finance and technology has been rapidly evolving in recent years, giving rise to a new breed of financial technology (fintech) companies that are leveraging technology to disrupt traditional financial services. However, there is another breed of company that provides cutting-edge technology to the Banks and NBFC to enable them to be as nimble as a fintech, they can be called as TechFin. Most FinTechs in the market are focused on Lending (secured and unsecured) space, while TechFins support the end to end Digital Transformation of a process from Origination to Credit underwriting to disbursement and also servicing, including collections.


One of the key differentiators that TechFin provides is MACH (Microservices based, API first, Cloud native, and Headless) compliant architecture, which enables high scalability and delivers contextual and composable solutions. Contextual solutions are customized for individual customers, taking into account their credit history, banking history, demographic information, and more. Composable solutions unify different loan types and customer journeys, providing a seamless experience for the customers.

Embedded AI is another key technology that brings innovation to financial institutions. Through hyper-automation, which combines artificial intelligence (AI) and robotic process automation (RPA), TechFin helps banks streamline their processes, automate report generation, and create marketplaces for customized reports. This "low touch, no touch" automation eliminates manual intervention and improves efficiency, enabling banks to reduce costs, increase revenue, and deliver quality services to their customers.

In addition to its innovative technology solutions, TechFin recognizes the importance of collaboration in the evolving ecosystem of finance and technology. Rather than pushing other ecosystem players away, TechFin embraces collaboration with open APIs in its MACH architecture, allowing for data exchange and integration with multiple sources. This collaborative approach enables financial institutions to leverage the strengths of various players in the ecosystem and deliver value-added services to their customers.


One of the examples of such a partnership that we had with a bank that issues virtual credit cards in less than 2 minutes. This speed-to-market innovation allows customers to immediately start spending on e-commerce platforms and receive physical cards within a day or two. This kind of innovation not only boosts revenue for the bank but also enhances the customer experience and creates a competitive advantage in the market.

In conclusion, TechFin provides technology-led innovation to banks, NBFCs, and other financial institutions. Its MACH-compliant architecture, embedded AI solutions, and collaborative approach enable financial institutions to compete with fintech, streamline processes, automate tasks, and deliver contextual and composable solutions to their customers. As the world of finance and technology continues to evolve, TechFins in collaboration with FinTechs will continue to play a crucial role in disrupting the fintech space and shaping the future of financial services.

Authored By: S V Ramanan, CEO, India and South Asia, Intellect Design Arena