In 2018, the Government of Maharashtra established the Mumbai Fintech Hub, which has helped accelerate tech development in the financial sector and influenced many of the top fintech startups in the region. By advancing the industry and promoting companies working in the space, the city has played a large role in turning India into a fintech gian. The city is also home to major traditional finance and financial services firms. Below are some of the top finance companies in Mumbai experiencing explosive growth in the region.
Top Finance Companies in Mumbai to Know
- Transunion
- Goldman Sachs
- Enfusion
- Paytm
- ICICI Bank
- Axis Bank
- Mswipe Technologies
Top Finance Companies in Mumbai
Electric vehicles are becoming popular in India, and Ecofy is helping speed up that process. Ecofy helps businesses and individuals secure financing for two- and three-wheeler electric vehicles and rooftop solar solutions through its multiple financial products.
In 2023, HDFC Bank merged with HDFC Ltd, expanding its services to include both banking and housing financing. The company began in 1995 and has grown into India’s largest private sector bank, serving over 92 million customers. HDFC Bank’s Mumbai campus serves as its corporate headquarters.
Paytm merges banking, commerce and investing by innovating with mobile tech. Users can stash money in a savings account through a single app, send peer-to-peer payments, invest in stocks and even buy airplane tickets. Paytm was founded in 1998 and grew popular by innovating in mobile-based financial services. Today, the company has office and branch locations throughout India.
YES BANK has over 1200 branches across India. The full service bank serves clients in retail, corporate and small business, providing banking, loans and investment offerings. YES BANK’s Mumbai offices serve as the company’s headquarters.
Mswipe Technologies is helping merchants across India process payments through its various solutions. The company develops point-of-sale terminals and QR code payment software that are adaptable for businesses of all types and sizes. Through Mcapital, Mswipe Technologies also provides loans to businesses.
BNP Paribas provides banking, investment and insurance services to individuals and businesses of all sizes. The French company was founded in 1848 and began operating in India in 1860. Today, BNP maintains branches in Bangalore, Chennai, New Delhi, Pune and Mumbai as well as a new International Banking Unit in GIFT City.
HSBC serves more than 40 million customers around the world. In India, it offers banking services, credit cards, insurance and both personal and home loans. Based in London, the financial services company has offices in 63 different countries. HSBC employs more than 172,000 people and is listed on the London, Hong Kong, New York and Bermuda stock exchanges.
Trading on the markets requires vast amounts of information and data, which Enfusion provides through its SaaS product. The software is used by finance experts, including CFOs and fund managers to unify front, middle and back offices.
UK-based Barclays has had a presence in India since 1990 and employs over 23,000 people in the country. It provides banking, lending and technology services to both private and corporate clients. Barclays has two locations in Mumbai and six campuses across India.
Goldman Sachs is one of the premier investment banks and has had an office in Mumbai since 2006. In addition to its banking services, the company provides advisory services during mergers and acquisitions, and acts as a market maker for different products. Goldman Sachs’ Mumbai-based roles often include analyst and software engineering positions.
Financial services company Morgan Stanley has been serving both domestic and international clients in India for more than 30 years. It has five offices spread across Mumbai, Bangalore and GIFT City, and employs more than 10,000 people. In addition to the investment banking that Morgan Stanley is known for, the company also offers capital markets, equities, fixed income, commodities and derivative products.
Axis Bank is one of the largest financial institutions headquartered in Mumbai. It provides personal and corporate banking and various digital services, which it brands as internet banking. Its internet banking platform enables users to manage their accounts and pay utility bills from a mobile app.
Though TransUnion has a wide array of financial service solutions, it’s perhaps most well known for providing individuals with credit scores. The company collects data points from banks, public records and other locations and, using a unique algorithm, TransUnion helps other financial institutions determine a customer’s creditworthiness when applying for loans or credit cards. TransUnion’s local office is located in Mumbai’s Piramal Tower.
Bank of America provides financial products from banking and asset management to global market research and employee benefit plans. The company’s Global Business Services department is located in India, supporting Bank of America’s eight lines of businesses. It maintains campuses in Bangalore, Chennai, Hyderabad, Gurugram, New Delhi, GIFT City and Mumbai.
Standard Chartered Bank provides banking, wealth management, insurance and Islamic banking services to more than 10 million customers around the world. Headquartered in the UK, the company conducts most of its business in Asia, Africa and the Middle East, and it has had a presence in India for 160 years, making it one of the country’s oldest foreign banks.
Upstox is a popular brokerage for stocks, mutual funds and options contracts, among other assets. The platform features upfront pricing and a no-fee model for mutual fund trading. Upstox also features powerful charting tools for advanced traders to discover investment insights.
ICICI Bank is one of India’s largest financial institutions, with over 160,000 employees and 6,000 branches. Although it offers both consumer and business banking, it’s perhaps most popular for its enterprise services. The bank provides business accounts, credit cards and payment solutions, among other financial services.
Kotak Mahindra Bank was established in 1985, and it offers a range of financial services, including banking, mutual funds, stock brokerage, life insurance and investment banking. Headquartered in Mumbai, Kotak Mahindra Bank maintains nearly 2,000 branches and more than 3,000 ATMs in India and Dubai.
Fintech company UBS offers wealth management, investment banking and private Swiss bank accounts. In India, it is also a registered stock broker with the Securities and Exchange Board of India. The company employs more than 71,000 people across 50 countries.
Jupiter Money is a one-stop app for all things finance. Available on Android and iOS, the app includes a savings account, budgeting tools, net-worth tracker and portfolio analyzer. Jupiter Money develops its platform through user feedback and consults with community members when deciding on new features.
