India’s FinTech revolution is driven by a unique convergence of factors—world-class digital infrastructure, an expansive yet underbanked population, affordable data plans, and widespread smartphone penetration. These elements have created a fertile ground for innovation, making India one of the fastest-growing FinTech hubs globally.

However, the industry operates in a dynamic environment marked by regulatory complexities, heightened scrutiny from stakeholders, and increasing cybersecurity threats. Navigating these challenges is crucial for long-term resilience and growth.

At Grant Thornton Bharat, our FinTech expertise helps you navigate this complex landscape, driving innovation and growth for your business.

Our FinTech solutions

We specialise in providing solutions under different models (specialised reviews, managed services and retainership) around risk management which includes quantitative, qualitative, and governance solutions in the areas of internal control and financial controls.

Our offerings encompass a wide spectrum of comprehensive governance solutions, incorporating internal audits, process reviews, ICOFR/IFC development and assessments, SOX audits, SOP development, as well as specialised risk management reviews focusing on ERM and model validation.

Our expertise, strong ties with regulatory bodies and extensive work done on regulatory frameworks and guidelines can help your organisation in improving the compliance culture. As part of the compliance solution, we help in assessing risks, implementing programmes, monitoring activities and offer two key value additions in the form of benchmarking and regulatory insights.

Delivering finance-related services and transformative change, we specialise in enterprise performance management (EPM) solutions, encompassing planning, budgeting, and consolidation. Our expertise extends to cost optimisation services. Additionally, we provide EUC solutions, emphasising governance and remediation for a comprehensive approach.

As industries undergo significant market shifts, organisations pursuing large-scale transformations prioritise success through a transformative approach. Emphasising clear vision, integrated strategies, and value-centric execution, our transformation office provides a comprehensive framework from initial strategy development to seamless technology implementation.

We harness extensive expertise in both domain and technology to support validation of data and processes/workflows through a combination of data validations, functional, regression and UAT.

We enable the organisations to identify if the root cause for heightened delinquency in a product portfolio is business reasons or fraud related elements.

We help the early stage / mature fintechs in reviewing their existing anti-fraud controls to ascertain their efficacy in identifying and combating black-swan events.

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The evolution of digital lending in India

Grant Thornton Bharat and The Fintech Association for Consumer Empowerment (FACE) conducted the Risk Barometer survey 2024 to assess the risks associated with digital lending.

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      Governance and Compliance posture review

      Governance and Compliance posture review

      1.
      Problem Statement
      A rapidly expanding fintech firm in B2B lending acquired an NBFC to enhance its lending capabilities. Facing swift growth and complex RBI regulations, the company needed an evaluation of its compliance and governance, particularly...
      2.
      Our Solution
      The firm undertook a meticulous review, including process walkthroughs, regulatory mapping, analysis of managerial roles, and scrutiny of intra-group transactions. This comprehensive approach aimed to identify compliance gaps and ensure...
      3.
      Impact
      The evaluation yielded a risk-assessed report with timely remediation recommendations, a compliance risk framework, and a governance checklist tailored to the entity's scale and risk profile. Additionally, it proposed a roadmap for future...
      Process and Control Review

      Process and Control Review

      1.
      Problem Statement
      The objective was to critically examine the efficiency and effectiveness of the current systems, identifying areas of shortfall and recommending practical improvements. This involved mitigating risks, enhancing regulatory compliance,...
      2.
      Our Solution
      Our approach encompassed verifying customer data, conducting due diligence, and ensuring compliance with Know Your Customer (KYC) standards through document reviews and risk assessment of loan applicants. We aimed to ensure governance...
      3.
      Impact
      The outcome was a comprehensive adherence to regulations and process optimisation, reflecting industry best practices. We delivered detailed reports on process evaluations, identified gaps, and associated risks, offering improvement...
      Risk Assessment and Internal Audit

      Risk Assessment and Internal Audit

      1.
      Problem Statement
      The task was to critically evaluate the corporate framework, including organisational structure, key personnel, financial standing, and business activities throughout the supervisory lifecycle. This involved understanding strategic...
      2.
      Our Solution
      A thorough analysis of processes and controls across specified areas was performed, benchmarking against industry standards to identify potential risks. Each risk was evaluated for its likelihood and impact, assigning an overall risk score...
      3.
      Impact
      A comprehensive one-time Risk Assessment and Rating report was generated and presented to management, informing the final audit plan, scope, and coverage. A detailed benchmarking report outlined leading industry practices and assessed the...