Zolve bags the ‘Most Innovative Use of Technology Award’ at the Global Fintech Fest!

Zolve bags the ‘Most Innovative Use of Technology Award’ at the Global Fintech Fest!

Vartika Kothiwal

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The beginning of the last quarter of 2022 couldn’t have been better. After winning multiple accolades this year, we are delighted to add another feather to our cap. It gives us immense pleasure to be awarded the Most Innovative Use of Technology Award and recognized as the Best Fintech Trendsetter at the Global Fintech Fest!

Under this category, National Payments Corporation of India (NPCI), Payment Council of India (PCI), and Fintech Convergence Council (FCC) recognize Indian fintech companies that are creating a sustainable financial world that is global, inclusive and green. The idea is to showcase India’s unique, affordable, inclusive, sustainable, and equitable model for global fintech leadership and generate thought-provoking content and shared learning opportunities for the fintech ecosystem across the world.

Out of the multiple submissions from fintech startups across India, winners are chosen by a jury that consists of stalwarts across fintech and payment such as:

  • Navin Surya - Chairman of Fintech Convergence Council
  • Pranay Jhaveri - MD - India & South Asia of Euronet Worldwide
  • Rajesh Wadhwa - CBO of M2P - Fintech
  • Reeju Dutta - Co-founder of Cashfree
  • Shruti Chandra - Senior Assistant Vice President of Invest India
  • Srinivas Jain - Executive Director & Head of Strategy of SBI Mutual Funds
  • Sussane Chishti - CEO of FINTECH Circle & Co-Editor of The FINTECH Book Series
  • Syed Musheer Ahmed - Founder/Director of FinStep Asia
  • Amnah Ajmal - Group Executive of Mastercard
  • Anil Kumar Gupta - Partner at Microsave Consulting
  • Anish Sarkar - CEO of Sodexo BRS India
  • Anubrata Biswas - CEO of Airtel Payments Bank
  • Dewang Neralla - CEO of NTT Data Payment Services
  • Lars Markull - Banking Lead of Weavr.io
  • Lizzie Chapman - Co-founder & CEO of ZestMoney
  • Malik Khan Kotadia - Co-founder and Global Board Chairman of Global Impact FinTech (GIFT) Forum

The participants were judged based on how they demonstrated the strength of their technology by articulating differentiators, innovation, and impact. And, it still feels surreal; out of all the outstandingly talented submissions received, Zolve made it to the top!

The evaluation methodology comprised of how strategic is the innovation for the industry, is it complex or simpler, how strong and different is the unique value proposition, what’s the competitive advantage offered, can the innovation be scaled to serve a large number of customers across different geographies with consistency and without constantly being reinvented or adjusted, what value does it deliver to the customer, how relevant is the innovation to the core business and in overall organisational strategy for revenue generation or saving costs and what is the return on investment.

Phew! Who said it would be easy? But we did it!

Zolve is currently helping the Indian immigrant base moving to the U.S. get easy access to financial products like bank accounts, credit cards, and remittances. We are on a mission to create a world that is not restricted by financial borders. A world where any immigrant, when they move to a new country, has easy access to financial products in the new country. And all of this isn’t possible without robust technology at its core.

Within just nine months of taking our products live, we’ve built intelligence platforms that can optimise money movement from the get-go at a >99% success rate, utilising only 1/5th the time taken by the bigger banks. For our customers to seamlessly send money back to India, we’ve built one of the fastest end-to-end remittance products in the U.S.-India corridor.

As a part of the investment offerings to the customers, we’ve built an instant crypto trading platform where transactions settle (including fiat currency movements from the customer’s bank account) in seconds. All these offerings are powered by a microservices-based platform that utilises Blockchain, MQTT, finite State machines, and sophisticated algorithms. Data analytics in Zolve is powered by a cutting-edge data platform that offers millisecond query performance for OLAP workloads, while maintaining the highest levels of data security and governance.

We thank the National Payments Corporation Of India (NPCI), Payment Council of India (PCI), and Fintech Convergence Council (FCC) for such a great honour from the depth of our hearts. Recognitions like these assure us that we are heading in the right direction. They fill us with even more enthusiasm to keep striving toward becoming a company that serves global citizens in the best possible way.

And last but never least, achieving this milestone wouldn’t have been possible if it weren’t for our incredible team that settles for nothing but excellence, day in and day out - Thank you, Zolvers! You rock!

Receiving awards like these tell us that we are gradually heading toward building bigger and better products for all the global citizens out there, those who dream of ambition beyond borders. Of course, this is not the end. We feel that we are only beginning after every milestone we achieve. After all, it is the journey that matters, not the end.

As Tom Creighton said, “A well-executed user experience builds trust.”

We heart it. We live it.