Biren Parekh, VP, Intellect design arena, was invited to the prestigious Shailesh J. Mehta School of Management, located in the IIT Bombay campus to deliver a speech on fintech disruptors:

API Banking –
As per the latest trends, API Banking will literally disrupt the banking concepts. There will not be branches anymore and all transactions will be done through API, which will be offered by different non-banking portals or anyone who wants to offer banking transactions through their portal.

Crypto Currency –
Crypto currency has already disrupted banking deposits. There are lot of portals and apps who are offering more returns on deposits compared to banks. Many smart guys have already started investing money in Bitcoin. They get the double advantage i.e. increase in price of bitcoin as well higher returns on investment. Isn’t interesting? Do contact me.

Peer to Peer lending
Similar to Crypto currency, this offers significantly higher returns than bank deposits e.g.

Robo Advisor 
Robo advisors are not new, but they still have to catch up with youngsters. It will hopefully pick up in the coming years, since youngsters are tech-savvy and have less time. One can do financial managementon the go without human interaction, based on factual information.

Biometric Payments –
Voice based payments or retina based payments are going to be new norms in coming years.

IoT based insurance pricing –
Are you a rash driver? Be ready to pay more insurance premium for your vehicle! And if you are a good and patient driver, be ready to benefit from the same by paying less premium. With IoT sensors on your vehicle, insurance companies will be able to judge how prone you are to making accidents. Are you looking for insurance companies offering these solutions? Search only if you are in US.

Social Media Banks
The topic sounds interesting, isn’t it? Yes, so are the banks. There are banks in Europe, like the Fidor bank, which offer higher interest rates depending on how many likes they receive on different options of interest rate on social media!