Thakur - NewsBizkoot.com

Photo Credit: Punit Thakur Punit Thakur is making a significant impact in the financial and e-commerce sectors with Afterpay's AI-powered tool, Afterpay iQ. The U.S. financial technology market is projected to reach $301.54 billion by 2024, growing at an annual rate of 11.4% through 2030. Thakur's work with Afterpay iQ is both timely and influential in this expanding market. Creating Afterpay iQ When Punit Thakur joined Afterpay in 2021, he brought with him a wealth of experience and a keen eye for invention. Drawing on his extensive background in advertising technology and e-commerce, Thakur quickly identified a critical gap in the market: merchants were struggling to access and interpret their performance data effectively. "Merchants were relying on outdated, manual methods to access their data, which was time-consuming and prone to errors," Thakur explains. "I saw an opportunity to leverage my expertise in AI and data analytics to develop a solution that would empower merchants with deep, actionable insights." Thakur's vision was to create a self-serve data reporting product that could provide merchants with secure, real-time access to their performance data. He engaged with Afterpay's engineers and data scientists to bring this vision to life, leading the development of Afterpay iQ from the ground up. Afterpay iQ goes beyond basic metrics like sales and average order value, providing merchants with a comprehensive view of their business performance. The platform delivers deep insights into customer behavior, preferences, and trends, enabling merchants to make data-driven decisions and optimize their strategies by making use of advanced AI algorithms and machine learning techniques. Thakur's product leadership and technical expertise have been instrumental in driving the rapid adoption of Afterpay iQ. Since its launch, the platform has been embraced by over 5,000 merchants across the US, UK, and ANZ markets, cementing its position as a leading data reporting solution in the fintech space. Enhancing Merchant Data Access When developing Afterpay iQ, Thakur made data security a top priority, recognizing the critical importance of protecting sensitive merchant information. "In today's digital landscape, data security is paramount," Thakur emphasizes. "As we built Afterpay iQ, we implemented robust security measures to ensure that our merchant partners could access their data with complete confidence." Thakur and his team implemented a multi-layered security framework for Afterpay iQ, making use of advanced encryption technologies and secure authentication protocols. "We built Afterpay iQ on a foundation of trust and security," Thakur explains. "Every data transaction is encrypted end-to-end, and access to the platform is strictly controlled through verified credentials and user authentication." This commitment to data security has been a key factor in the rapid adoption of Afterpay iQ among merchants. Since its launch in mid-2021, the platform has become an essential tool for approximately 5,000 businesses across the U.S., UK, and Australia and New Zealand (ANZ) markets, who rely on its secure, real-time insights to drive growth and optimize their strategies.This commitment to transparency and merchant empowerment has helped to differentiate Afterpay iQ in a crowded market, where concerns about data privacy and security are increasingly top-of-mind for businesses. The Future of Fintech As the financial technology sector continues to grow and is expected to reach $576.59 billion by 2030, tools like Afterpay iQ will play a crucial role. Thakur believes AI and data analytics will drive future growth. "We're helping merchants grow and make smarter decisions by providing them with tools to understand their data," he explains. The increasing use of AI in financial technology promises more advanced and user-friendly tools for businesses. However, challenges such as data privacy and the responsible use of AI must be addressed. A fintech analyst points out, "AI tools like Afterpay iQ offer many benefits, but it's crucial to balance new technology with careful data management." Responsible use of AI is essential for maintaining trust and safeguarding customer information. Thakur's work reflects a broader objective: supporting merchants with valuable insights. "Our goal is to help merchants thrive by providing easy-to-understand, AI-powered insights," Thakur underscores. His efforts are shaping the future of financial technology by making advanced data tools more accessible and secure.

Meet Punit Thakur: The Mind Behind Game-Changing AI Solution that Empowered Thousands of Merchants Globally

Thakur Global Business School hosts HR Conclave on the theme Metamorphic Human Capital

AD Ports Group Delegation Welcomed by Georgian First Vice Prime Minister in Tbilisi

How Islamic Moral Political Economy Shapes Sustainable Development

IIT Delhi, BTPL Collaborates to Develop First in India Diamond Based UV Photodetectors

Study links DNA fragmentation in sperm to increased risk of pre-eclampsia in IVF pregnancies

News

Pages

You may have missed