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The Compelling Reason Sachin Bansal Prefers Developing In-House Technology to Elevate Navi’s Success

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Why Sachin Bansal can’t resist building tech in-house to boost Navi's fortunes

In a bid to revolutionize the finance sector, Sachin Bansal, co-founder of Flipkart, is spearheading the development of a robust technology stack for his new venture, Navi Technologies. Bansal, who exited Flipkart in 2018 with a hefty sum, has since invested a significant portion of his wealth into Navi, which he plans to take public in the near future.

Navi, with over 2,000 employees, focuses heavily on technology, with about 500 dedicated to the company’s tech team. Bansal’s vision for Navi is to make finance more accessible to the masses and small businesses, leveraging technology to enhance services like lending, insurance, and banking.

Building key components of the technology stack in-house has allowed Navi to speed up its feedback loop and introduce innovative products and services. Leveraging GenAI tools and fine-tuning large language models (LLMs), Navi is aiming to provide efficient and customer-friendly solutions, particularly through chatbots and data annotation.

Despite the challenges faced by the fintech sector, Bansal remains optimistic about Navi’s growth potential. With aspirations to drive sales through innovative technologies like chatbots and expand into the UPI space, Navi aims to tap into the growing market opportunity in India’s fintech landscape.

While Navi’s journey has not been without obstacles, including regulatory hurdles and acquisitions, Bansal is confident in Navi’s trajectory. With a focus on consolidation and navigating the uncertainties in the digital finance sector, Bansal believes Navi is well-positioned for future growth and success.

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