Jignesh Shah: The Founder of 63 Moons Technologies Limited
Over the years, the Indian FinTech sector has witnessed tremendous growth owing to Jignesh Shah’s humble efforts. His initiatives and strategies helped to open up new opportunities in the international market for India. His flagship product, Financial Technologies (India) Limited (FTIL), currently known as 63 Moons Technologies Limited, has offered various solutions to the other sectors that helped in their growth. Besides that, it generated millions of job opportunities for the youth of India that are both of high standards and environment-friendly. To date, FTIL is one of the most successful initiatives in the global FinTech industry.
After completing bachelors, Jignesh Shah started his career at the Bombay Stock Exchange (BSE) as an employee. He learned the opportunities available in the stock market and left the organization. His dream was to establish a Public-Private Partnership (PPP) model to build world-class financial institutions and modern IP-centric financial markets to extend India’s reach. Further, he wanted new-generation markets and segments that are people-centric and have a comprehensive market structure. After working at the BSE for some time, he soon left his job. With strong determination and will, he launched FTIL that later became a pinnacle in the FinTech world.
Time and again, FTIL has taken various initiatives like ODIN, the most successful Tech IP product developed at a far lesser cost compared to the foreign competitors, that created a user-friendly market for trading. It was not long before that ODIN started receiving global acclamation owing to its unprecedented features. What was previously a trading technology from the open outcry system, turned to a fully automated screen based electronic system after ODIN. Trading on multiple markets through a single V-Sat was enabled with instantaneous order matching and it created nearly 7 lakh jobs in the country after 3.5 lakh terminals ran ODIN.
Moreover, Jignesh Shah involved himself in various CSR activities over the years. Gramin Suvidha Kendra’ in association with India Post and ‘Pragati’ with Rotary International are two initiatives focused on empowering underprivileged communities with education and training. Also, his endeavours did not go unnoticed. Futures Industry Association (FIA), Washington, listed him among the ‘Dominant Financial & Futures Industry Leaders for 2008’ and Institutional Investor in 2008 featured him among the ‘Top 30 Global Innovators in e-finance’. He was awarded the ‘Indian Express Innovation Award’ by the then President, late Dr. A. P. J. Abdul Kalam and also, considered among the ‘Top 20 Indians’ who can change the face of world business by CLSA. Moreover, he was honoured with the ‘US-India Businessman of the Year’ award and chosen by the World Economic Forum (WEF), Geneva, as a ‘Young Global Leader’.