Why Fintech Leaders are Betting Big on Female-led Startups?

How women revolutionizing the finance sector? Why fintechs are more interested to female entrepreneurs in SME sector? What are the women-centric schemes at NABSAMRUDDHI? Tune into this expert interview to know more about it!

Shreshtha Verma
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For too long, finance and women's entrepreneurship seemed worlds apart. But now, there's a new story emerging – one where women are not just players but pioneers, especially in finance. From breaking traditional roles to leading cutting-edge fintech ventures, women are making their presence felt across sectors, proving their mettle and determination.

One striking trend is the success of women-led businesses. They're not just stepping into new arenas but excelling, challenging norms, and changing industries dominated by men. Another noteworthy aspect is their financial responsibility. Studies show women are more diligent in repaying loans, earning trust from various government organisation and unlocking new opportunities.

To discuss this emerging role of female in finance, TICE recently got into an exclusive conversation with  Ms. Bonani Roychoudhury, Managing Director of NABSAMRUDDHI, a NABARD subsidiary. She sheds light on how women are reshaping finance, the evolving lending landscape, the role of tech in inclusion, and the power of collaboration in driving change.

Watch below an exclusive conversation with Ms. Bonani Roychoudhury Managing Director of NABSAMRUDDHI, a NABARD subsidiary

The financial sector has undergone a seismic shift in recent years, as highlighted by Ms. Roychoudhury. Prior to the advent of COVID-19 and the widespread adoption of digitization, change within the industry was comparatively gradual. However, with the advent of fintech innovations and the proliferation of digital platforms, the pace of transformation has accelerated dramatically. Mrs. Roy Chowdhury's observation underscores how these advancements have facilitated unprecedented growth, particularly in reaching demographics like women that were previously underserved.

"Before COVID or before digitization came into play, the pace of change in the financial sector wasn't as rapid as it is today," remarked Ms. Roychoudhury. "With fintech innovations and increased digitization, we are witnessing a monumental upscaling, allowing the industry to reach previously untapped segments, especially women."

Indeed, the conversation underscored a noticeable trend: the rising tide of women-led enterprises and their growing influence in finance. Roychoudhury highlighted how advancements in technology have facilitated greater access to financial services for women, enabling them to participate actively in entrepreneurship and lending.

"When we look at our client partners, especially microfinance institutions and NBFCs utilizing technology, we see a significant expansion in reach, particularly among women," she noted. "Women are not only gaining access to loans but are also actively engaging in digital financial transactions, showcasing their aspirational and entrepreneurial spirit."

Moreover, the interview shed light on the evolving lending patterns within the women entrepreneur spectrum. Roychoudhury emphasized the emergence of tailored financial products specifically designed for women, offering flexibility, financial education, and capacity-building support.

"NABSAMRUDDHI emphasizes blended finance, incorporating a credit-plus approach," she explained. "Our focus is not just on providing loans but also on fostering holistic development among women borrowers, addressing their unique needs and challenges."

The conversation also delved into the pivotal role of technology in driving operational efficiency and expanding outreach. Mrs. Roy Chowdhury emphasized the importance of leveraging technology to enhance financial inclusion, particularly among marginalized segments, with a focus on green and wellness initiatives crucial for women.

As the discussion drew to a close, Roychoudhury reflected on the significance of industry gatherings like the DLCI Conclave in fostering collaboration and driving tangible outcomes.

"The power of networks cannot be overstated," she remarked. "These platforms bring together diverse stakeholders, catalyzing meaningful partnerships and actionable strategies to address societal challenges."

The interview encapsulated a transformative narrative: one where women are not merely participants but leaders in reshaping the financial landscape. With each stride forward, they are breaking barriers, challenging norms, and paving the way for a more inclusive and prosperous future in finance.

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