Enabling Financial Freedom Fisdom aims to solve the problems with product and distribution innovation. Through an intuitive mobile app, Fisdom offers a variety of financial products such as stocks, mutual funds, pension funds, and tax filing

While other markets grow gradually in India, fintech has become a mass favourite. Almost every other Indian has adopted fintech. According to a report by EY, the fintech sector has an adoption of 87 per cent as compared to the global average of 64 per cent. The Indian fintech market would generate approximately $200 billion in revenue and $ 1 trillion in AUM. The industry witnessed a huge growth in the past decade. However, the Indian market was massively underserved when it came to capital market instruments like mutual funds and stocks and any other financial investment instruments, primarily due to the lack of access, simplicity, and trust among Indian consumers.

Fisdom aims to solve the problems with product and distribution innovation. Through an intuitive mobile app, Fisdom offers a variety of financial products such as stocks, mutual funds, pension funds, and tax filing.

"Fisdom is a pioneer in the B2B2C distribution model wherein we are an exclusive wealth partner for 15 leading banks to provide investment services and enable our partner bank's customers to access financial products at their fingertips," said Subramanya SV, co-founder and CEO, Fisdom.

The company's distribution through banks has provided a significant advantage in retaining customers, as more and more customers start banking digitally. The banks have a trusted distribution network. Additionally, the company is also focused on providing a holistic set of financial products that would strengthen its partner banks' ability to serve its customers better while providing them with a superior user experience.

"We will continue technological innovation to provide enhanced access for customers and personalization of financial recommendations to retain and attract new customers. Our target is to expand our customer base to four million in the next two years and onboard more major banks as partners," added Subramanya SV.

Yet to be profitable, the company has been investing heavily in its product as well as people, but are on track to become profitable by 2025. Through partnerships with banks, the company's cost of acquisition is lower than the industry average. At the same time, the company has been growing at a rapid pace. Fisdom's Assets Under Management (AUM) have doubled every year for the last five years and stand at INR 5,000-plus crores as of January 2022.

Fisdom is regulated by SEBI and RBI and regulations play a key role in our industry. According to Subramanya, compliance and regulations exists to promote transparency and integrity of the financial markets and protect customers and investors from financial crime, market manipulation, ethical threats, and systemic risk. Subramanya highlights that in the short-term it adds to the cost of running the businesses and innovation. However in the long term, it paves the way for more customers to participate in capital markets thereby helping the company. Fisdom looks at regulations as a core part of its business operations and invests heavily in the area.

Fisdom is strengthening its company culture while believing in a positive, collaborative, and innovative culture. The company is focussing on a customer-centric approach to improving its products. According to Subramanya, the company places utmost importance on the voice of the customer and strive to create products and features that solve real customer problems. With Fisdom currently having approximately one million customers, the comapny's aim for the next two years is to reach 4 million active customers as the company intends to onboard more major banks as partners