Delhi, 21 July 2022: FinTech Festival India, the country’s biggest FinTech event is being held between July 20 and 22 at Pragati Maidan, Delhi, organised by Constellar and supported by Niti Aayog and six central government ministries.
Speaking at the second day of the conference, Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship, Government of India, said, “Post 2014, our honorable Prime Minister announced his vision of Digital India where there were three objectives – technology must transform governance; create opportunities for India’s youth, expand digital economy as a part of the overall India’s economy and from being a consumer of technology, be a producer of technology. The citizen’s trust on the government is an outcome of that initiative. India’s fintech ecosystem is a stark demonstrator of the power of using technology in government and digital government and the impact it has on creating the innovation ecosystem.”
“Last year on August 15th while celebrating our country’s 75th year of independence our honorable Prime Minister announced that this is India’s ‘tech-ade’ as there are now large number of opportunities for start-up and entrepreneurs. This decade will be built on the energy, hardwork, determination along with innovation and ideas of young Indians all around the country” Mr.Chandrasekhar added.
Talking about the role of technology and few of the recent policy changes, Shri Baijayant Panda, National Vice President & Spokesperson, Bhartiya Janta Party and Former Member of Parliament (Rajya Sabha & Lok Sabha), said, “India is no longer just a follower economy. GST is the single biggest economic reform witnessed in the 75 years and it has radically broadened the ambit of formal economy making it accessible and traceable thanks to the fintech revolution. Besides cementing collaboration between the private and public sector, fintech has also emerged as a key collaborator between India and countries like Singapore and the UK.”
“Fintech is already witnessing a hockey stick growth, today may it be eating golgappas or picking a snack from a paan shop, I can seamlessly make a digital payment, which showcases the massive adoption of fintech which is the highest globally at 87%, noticeably higher than the global average of 64%. Today the way we have bounced back economically to become the fastest growing large economy would have just not been possible without the FinTech revolution and the kind of governance and leadership the nation has witnessed”, Mr.Panda added.
Speaking on customer experience in a digital world, Dr. Jasmin B Gupta, Co-founder & CEO, LXME, said, “Banks have evolved with customer experience, be it in the way of measuring customer experience switching from C-SAT scores to NPS to have both macro and micro level perspectives to help improve at all touch points of customers. There is a lot of value in the data that is collected in this process of measuring customer experience. How to perceive and make use of this data, making changes and improvements based on it is I think what banks struggle with today. Banks thus need help from fintechs to give exceptional, professional, personalized customer experience via data analytics, machine learning, automation along with data security to establish trust in customer experience. The best thing for customers is to have an omnichannel experience. Customers want to interact with their banks everywhere and I think that’s also where social media comes into play. As an entity available to share feedback in real-time, social media can be a platform for brands to proactively engage with customers as well.”
The two day conference is being attended by leading industry stalwarts such as Sarbvir Singh, Chief Executive Officer, Policybazaar; Suhail Sameer, Chief Executive Officer, BharatPe; Raghu Ramanujam, Director of Product, Flipkart; Mridul Gupta, Chief Operating Officer, CoinDCX; Santosh Kumar, Innovation Head, Citi Markets India; Hitesh Sachdev, Head – Startup Engagement & Investments, ICICI Bank and Sunit Vakharia, Head – Consumer Banking Technology India, DBS Bank amongst others.
Variety of discussions are being held on macro-economics, sustainable future, crypto & blockchain technology, Web3, InsurTech, RegTech, financial inclusion, CBDC, cloud adoption, metaverse, NFT’s, finance and payment app security and more.
FinTech Festival India is the country’s largest FinTech confluence. It witnessed participation from over 5,000+ attendees, 160+ speakers and 90+ sessions over a period of 8 months.
The conferences are supported by Government of India’s Ministry of Finance, Ministry of Electronics & Information Technology (MeitY), Ministry of Small & Medium Enterprise (MSME), The Agricultural and Processed Food Products Export Development Authority (Ministry of Commerce and Industry), Broadcast Engineering Consultants India Limited ( A Government of India Enterprise – Under Ministry of Information & Broadcasting) and Startup India (Department for promotion of Industry and Internal Trade & Invest India). It has also received support from the Government of Tamil Nadu, Government of Karnataka and Electronics Corporation of Tamil Nadu Limited (ELCOT).
In addition to the government, FFI which aims to unleash the power of FinTech across the country, has also drawn interest from industry including Powered By sponsor CoinSwitch Kuber, Platinum Sponsors M2P, Sustainability Partners The Green Billions, Digital Asset Infrastructure Partner Fireblocks, Gold Sponsors BharatPe, LIC, Moengage, Rapyder, Thales, Exclusive Networks, WebEngage, Sales acceleration partner Vymo, Payments partner In-Solutions Global Ltd., Identity verification partner IDFy, Registration Partners CoinDCX, Digital Edition Partners JuicyScore, Spice Money, Experian.