RattanIndia Infrastructure reports consolidated net loss of Rs 157.18 crore in the March 2020 quarter
BSE & NSE listed RattanIndia Infrastructure Ltd (RTNINFRA), part of the RattanIndia Group, a business conglomerate with interests in power generation and finance, has notified the exchanges regarding the recommendation of their committee to enter and explore new business avenues including sunrise business sectors which are light on debt or preferably do not need any debt. And they have also recommended exploring business opportunities in new-age technologies including fin-techs.
Financial technology (Fin-tech) is used to describe new tech that seeks to improve and automate the delivery and use of financial services. At its core, fin-tech is utilized to help companies, business owners and consumers better manage their financial operations, processes, and lives by utilizing specialized software and algorithms that are used on computers and, increasingly, smartphones. Fin-tech, the word, is a combination of "financial technology".
With the company's foray into high growth IT and data management services, the revenue and profitability is expected to go up substantially.
The company would be looking to engage in fin-tech opportunities such as crowdfunding platforms. The platforms allow entrepreneurs and early-stage businesses to raise funds from all over the world and reach international markets and investors, mobile payments, mobile payment applications and gateways, Robo-Advisory offering online investment management services.
Insure-tech including technology to the insurance model, which allows companies to provide tailored insurance services and data security. Insure-tech helps streamline the insurance process through online claims filing and policy management.
As India continues to take swift steps towards digitalization, it is also witnessing the rise of new SaaS verticals and segments backed by strategic partnerships.
To chart out the imperatives to make India a "Global SaaS Hub", the National Association of Software and Services Companies (NASSCOM) in partnership with SaaSBOOMi and Zinnov as knowledge partners, recently announced the findings of their first in-depth SaaS study "Riding the Storm: Towards the Giant India SaaS Opportunity", which predicts a high growth path in such services.
This story is provided by NewsVoir. ANI will not be responsible in any way for the content of this article.