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The Fintech automation industry is experiencing rapid growth driven by the increasing need for efficiency, accuracy, and compliance in financial operations. Businesses are actively seeking solutions to reduce manual labor, integrate disparate systems, and gain real-time financial visibility, especially in high-transaction environments. The market is dynamic, with continuous innovation in AI, cloud-based solutions, and enhanced security features.
Total Assets Under Management (AUM)
Fintech Market Size in India
~Approximately 120 Billion USD (2023 estimate)
(20% CAGR)
- Digital payments drive growth.
- Increased adoption of financial automation tools.
- Favorable government regulations and digital infrastructure.
120 billion USD
Utilizing advanced AI models to identify and flag unusual patterns in financial transactions and reconciliations, predicting potential errors or fraud before they occur.
Implementing distributed ledger technology to create immutable and shared records, enabling real-time, trustless reconciliation between multiple parties and reducing disputes.
Combining RPA with AI and machine learning to automate complex, end-to-end financial processes with intuitive visual interfaces, further democratizing automation for finance teams.
The DPDP Act, 2023, is India's comprehensive data protection law regulating the processing of digital personal data within India, establishing rights for data principals and obligations for data fiduciaries.
This policy mandates stricter data handling, storage, and consent requirements, impacting how Kosh.ai processes and stores customer financial data, necessitating enhanced compliance measures and potentially influencing data localization strategies.
This Act and its subsequent amendments provide the legal framework for the regulation and supervision of payment and settlement systems in India, overseen by the Reserve Bank of India.
Continuous amendments affect regulations around digital payments, reconciliation standards, and cross-border transactions, requiring Kosh.ai to adapt its payout and reconciliation modules to maintain compliance with evolving RBI guidelines.
The PMLA, along with various AML/CFT guidelines issued by the RBI and other authorities, aims to combat money laundering and terrorist financing activities in India.
These regulations impose stringent reporting and due diligence requirements on financial transactions, influencing Kosh.ai's audit capabilities and potentially requiring new features for enhanced transaction monitoring and suspicious activity reporting for clients.
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