The tech thinking at Fintechs

3 fintechs show how they are leveraging technology to drive businesses in various ways:

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Gagan Singla states that blinkX is working on using APIs of open source platforms to build Al based products

blinkX, an initiative of JM Financial, is a next gen InvesTech platform. Created in 2022, it offers a wide range of financial products, including broking, wealth management, advisory, and lending. StoxBox is a technology-based value broker that offers a wide range of financial products designed to supercharge investing game, with its flagship product ProTips. StoxBox is a brand of BP Wealth, the parent company, founded in 1987. PolicyBoss.com, founded in 2013, is an insurtech with a CAGR of 30% over the past 5 years. It is the online brand of Landmark Insurance Brokers. Technology muscle is the common factor for all these 3 entities.

CLOUD, DATA, AI, ML, CUSTOMIZATION

One area of technology focus of blinkX has been on building in-house products with centralized data management through cloud, data lakes and data mesh. blinkX sees a lot of potential for AI and ML, when it comes to gathering richer insights from data and it has already initiated that. It is focusing on providing hyper-personalized user experience using the latest AI and ML models. Gagan Singla, MD at blinkX, points out: "We are working on using APIs of open source AI platforms to build AI based products. The idea is to leverage big data and new NLP model to provide exceptional experience to our users. A secure cloud-based solution is our first priority on the technology front. We look to leverage AI and ML to improve the customer experience."

One of the cornerstones of the business model at StoxBox is mass customization. Yuvraj Thakker, MD at StoxBox, says: "Instead of customization for an individual client, we customize for a bucket of clients. This would have been absolutely impossible without the use of technology."