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In an era where technology is reshaping industries, the integration of Generative AI (GenAI) into embedded finance solutions presents a groundbreaking opportunity for India’s micro, small, and medium enterprises (MSMEs). As the backbone of our economy, MSMEs face unique challenges that GenAI can help address—enhancing operational efficiency, financial accessibility, and ultimately driving growth.

The challenge facing MSMEs

Despite their critical role in economic development, MSMEs often struggle with limited access to financial resources and support. Traditional banking systems frequently overlook these businesses due to rigid credit scoring models and lengthy approval processes. This gap highlights the urgent need for innovative financial solutions tailored to the unique needs of MSMEs.

Personalized financial solutions

GenAI can analyze vast amounts of financial data to provide personalized financial advice, enabling MSMEs to manage cash flow effectively and identify investment opportunities. This tailored guidance empowers business owners to make informed decisions that align with their growth objectives.

Enhancing customer support

Automated customer support through AI-driven chatbots can transform how MSMEs interact with financial services. These chatbots handle inquiries efficiently, offering immediate assistance and troubleshooting support. This not only enhances customer experience but also reduces operational costs—critical for businesses operating with limited resources.

Strengthening security measures

Fraud detection is paramount in safeguarding business assets. GenAI excels at identifying unusual patterns in real-time, allowing MSMEs to proactively address potential fraudulent activities. This capability fosters trust among stakeholders and protects the integrity of financial operations.

Improving access to credit

Access to credit remains a significant barrier for many MSMEs. By utilizing diverse data sources, GenAI enhances credit risk assessment, providing more accurate and fair credit scoring. This innovation enables better access to loans and financial products, allowing MSMEs to seize growth opportunities previously out of reach.

Streamlining financial management

GenAI’s ability to automate invoice and expense management can significantly reduce manual errors and save time for MSMEs. By categorizing expenses and offering insights into spending patterns, it allows businesses to optimize their financial operations effectively.

Navigating regulatory compliance

Compliance with regulatory standards can be daunting for MSMEs. GenAI simplifies this process by monitoring transactions and generating compliance reports, ensuring adherence to legal requirements while allowing business owners to focus on growth rather than regulatory burdens.

Tailored marketing strategies

Through customer data analysis, GenAI assists MSMEs in designing tailored marketing campaigns, increasing engagement and driving revenue growth. This personalized approach is essential in today’s competitive marketplace.

Conclusion: A call to action

The integration of Generative AI into embedded finance solutions offers immense potential for enhancing the operational capabilities of MSMEs in India. As GetVantage continues to pioneer cash-flow-based financing solutions through initiatives like GrowthSahay, embracing GenAI will be pivotal in empowering India’s SMEs to thrive in an increasingly digital economy. It is time for stakeholders—financial institutions, policymakers, and technology providers—to collaborate and harness the power of GenAI, ensuring that our MSMEs are equipped for success in the future.

Author detail: Bhavik Vasa is a founder of GetVantage. He is a 2x Founder, BusinessWorld 40u40 Achiever, and FintechAsia200 fellow! He has over 17+ years of global experience across FinTech, Digital Financing, Digital & Startups.

Flashaid, a Mumbai-based insurtech startup, has launched a protection plan for universities and school students dealing with educational disruptions and unemployment.

The “Student Total Protect” plan offers comprehensive financial security—tuition protection, health coverage, and career placement assistance. Students and their families can confidently rely on this highly adopted product to keep their educational and professional paths uninterrupted.

According to the NSSO (2019) survey, one in five students drop out of formal education annually due to unforeseen circumstances. To tackle this growing problem, Flashaid has partnered with more than ten universities and schools and is in the advanced stages of closing 100+ such institutions in the next year.

One such partner – Ghazali Sami, Director of Outreach and International Affairs at Integral University in Lucknow, said, “Flashaid offers excellent health insurance packages for students that cater to their needs during their studies. Since we work closely with international students, we must ensure their health coverage through these customized products. Flashaid has effectively met this need for organizations systematically, helping us grow efficiently.”

Talking about the plan, Gunjali Kothari, Founder of Flashaid, said, “Education is crucial for securing good jobs and supporting families. With rising tuition fees in India, protecting academic progress is essential. Flashaid’s plan covers all remaining school or college fees if students lose their paying parent.

According to government data, ‘Educated Unemployment’ stands at 7.3% as per PLFS 2023, leaving graduating students with loans and no immediate employment. In this scenario, Flashaid’s Placement Protect offers a monthly stipend to graduates from top-tier colleges who are unemployed after completing their programs, along with placement assistance and internship opportunities in top Indian startups.

It also provides a Health Protect Plan, which offers preventive care with mental wellness programs, doctor tele-consultations, and hospitalization expenses.

The UGC guidelines emphasize the importance of student safety and well-being during trips and study tours, mandating that colleges ensure their physical and mental protection.

Founded by Manoj Gupta and Gunjali Kothari, Flashaid offers a full-stack health solution with proprietary pre-underwritten products, open APIs, and embedded solutions.
Earlier this year, the company closed its $2.5 million in its pre-Series A funding round in April.

Mela Ventures has appointed R Kalyan Sundar as the Head of Finance and Legal. Kalyan brings valuable experience in M&A, financial due diligence, and deal negotiation.

At Mela Ventures, Kalyan will lead financial and investment strategies and play a pivotal role in nurturing and scaling innovative startups across diverse sectors.

Kalyan Sundar, Head of Finance & Legal at Mela Ventures, said, “I am thrilled to join Mela Ventures and contribute to its mission of fostering growth and innovation in the startup ecosystem. I look forward to leveraging my experience to optimize financial strategies and support the success of emerging founders and their startups.”

Prior to joining Mela Ventures, Kalyan served as Assistant Vice President of Finance at Stakeboat Capital LLP, where he spearheaded financial evaluations across sectors including SaaS, Automation Solutions, Healthcare, IT/ITeS, and E-Publishing. Earlier, at Ernst and Young LLP, Kalyan led over 40 financial due diligence engagements, advising on strategic transactions and fundraising initiatives for global and domestic clients. Kalyan is a CA and has a diploma in IFRS.

Parthasarathy NS, Managing Partner at Mela Ventures, said, “We are delighted to welcome Kalyan Sundar to our leadership team. His experience in financial due diligence, management, and strategy will be invaluable as we continue to identify and support high-potential startups while upholding sound governance and best practices.”

Mela Ventures remains committed to driving innovation and supporting fearless founders and their ventures through strategic investments and mentorship. The addition of Kalyan Sundar to its leadership underscores their dedication to excellence in financial leadership within the startup community.

About Mela Ventures

Mela Ventures Trust is a SEBI-approved AIF Category-2 fund for the early-stage companies. With a goal to build next-gen entrepreneurs, the fund will focus on building a portfolio in areas, such as AI/ML, AR/VR, IoT, Cloud Migration, and Deep Technologies. Mela Ventures was founded by Industry veterans, Krishnakumar Natarajan and Parthasarathy NS who co-founded Mindtree and taken it from a startup to a multi-billion-dollar market cap enterprise.

Learn how to start selling on E-Commerce  marketplaces like Amazon,  Flipkart,  Meesho and Shopify in India and internationally. Abdul Alim Shaikh who generates Rs. 5 crore annually from his  E-Commerce business will teach you step by step process for the same.  

Read your trainer’s E-Commerce success journey here. 

What You’ll Learn:

Understanding E-Commerce Marketplaces: Gain insights into the diverse landscape of e-commerce marketplaces, including industry trends, major players, and key success factors.

Creating and Optimizing Marketplace Listings: Learn how to create compelling product listings that stand out in crowded marketplaces, optimize for search visibility, and maximize conversion rates.

Navigating Marketplace Policies and Best Practices: Navigate the complexities of marketplace policies, guidelines, and terms of service to ensure compliance and mitigate risks while maximizing opportunities.

Managing Inventory and Fulfillment Across Platforms: Discover strategies for efficiently managing inventory, syncing product data across multiple marketplaces, and streamlining fulfillment processes for seamless operations.

Driving Traffic and Sales: Explore advanced techniques for driving targeted traffic to your marketplace listings, optimizing product visibility, and leveraging promotional tools to boost sales and revenue.

Why Choose Our Workshop:

• Expert-Led Instruction: Learn from industry experts with firsthand experience in e-commerce marketplaces and a proven track record of success.
• Practical Insights: Gain practical insights and actionable strategies that you can immediately apply to your own marketplace business or venture.
• Interactive Workshops: Engage in interactive workshops, case studies, and group discussions to deepen your understanding and enhance your skills.
• Networking Opportunities: Connect with like-minded entrepreneurs, e-commerce professionals, and marketplace enthusiasts to expand your network and exchange ideas.
• Exclusive Resources: Access to exclusive resources, templates, and tools to support your journey in mastering e-commerce marketplaces.

Who Should Attend:

• E-Commerce Entrepreneurs looking to expand their reach and scale their business through online marketplaces
• Product Owners and Brand Managers seeking to optimize their presence and performance on e-commerce platforms
• Marketing Professionals interested in leveraging e-commerce marketplaces to drive growth and revenue
• Anyone passionate about e-commerce and eager to tap into the lucrative opportunities offered by online marketplaces

Charges:

Rs. 1499/- per head

Date & Time:

3rd March 2024

12pm to 3pm 

Location:

Empowering Hours, Taloja phase 1, Navi Mumbai, 410208. 

Limited Seats Available. Reserve Your Spot Today!

[Register Now: Fill the form]

Questions? Contact us at 9029194433 for more details.