As an ardent student for fintech companies, I am always looking to show off about what I know – a wee bit more than my friends. Fintech Future, authored by Sanjay Padhke, caught my eye on Amazon as a ‘stay ahead of the buzzwords’ this summer.
Lucky for me, I got to the epilogue first and was hooked on to it. I just had to read all about fintech future to know the next on this new technology.
With about two decades of experience in financial services, Padhke has to be congratulated for lucidly narrating the history of money in a universal manner.
A blue-blooded banker from JP Morgan, who else could lay out the dominance of technology in banking and thus on every other spheres of life. It was very exciting to read for my family (full of bankers and doctors), as also for me whose only exposure to banking being my Kotak Bank junior account, debit card and Freakonomics.
Of course, I knew tech companies were ahead of banks, but never knew exactly why it was MASAA. This book helped me appreciate how money really is a foundation concept, like the author puts it — a language. The author explains how money is also bridge between the present and the future. Money in 2020 is virtual, but the evolution through mobile to this stage is taken for granted by my generation. The author dwells on the future of banks and establishment of neo-banks, which to my generation sounds like an obvious way to proliferate.
The author has explained blockchain as an exciting network like neurons on the brain. A hammer looking for the nail is how he described blockchain when I finally met him at his lab in Pune!
Rewinding magic moments in finance is fascinating though I don’t agree with the comparison of mobile music quality to that of music on a Vinyl Record. How could I do that as a featured Vinyl enthusiast by the Revolver Club! I must confess some of the stuff on UPI and financial theory was a way out of my league, but this is what’s egged in on to speed up my read. A wake-up call of the interesting times we live in, the author reminds us that in a decade or half of that, fintech promises to make the world of finance ubiquitous yet invisible.
With the ABC of fintech, the author shares how very integral these three letters are to layman’s understanding of the subject. A for artificial intelligence (face of the new world), algorithms (centre of the new world of technology) SAA, anomaly & autnomomous; B for bigdata, blockchain and bitcoin and C for cloud, crypto and cybersecurity.
There, I have it all, all finance becomes fintech and I know more! Ahead of the pack, till they all read Fintech Future by Sanjay Phadke.
(Arjandev Singh is an aspiring fintech entrepreneur)
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