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Indian chamber of commerce is organizing ICC FinTech, a day-long summit on 05th May 2022. The goal of the summit is to bring together both physically and virtually over 1,000 eminent CxOs, decision makers, innovators, entrepreneurs, investors, venture capitalists, bureaucrats and policy makers from the Artificial intelligence, Banking, Block Chain, financial services, FinTech and Meta sectors on a full-featured Hybrid conferencing platform. The event is open to all for a nominal registration fee.
Global FinTech Adoption
- India is amongst the fastest growing Fintech markets in the world. Of the 2,100+ FinTechs existing in India today, over 67% have been setup in the last 5 years.
- Indian FinTech industry valued at $ 50-60 Bn in FY20 and is estimated at ~$ 150 Bn by 2025.
- The Fintech transaction value size is set to grow from US$ 66 Bn in 2019 to US$ 138 Bn in 2023, at a CAGR of 20%.
- The Indian Fintech industry ecosystem sees a wide range of subsegments, including Payments, Lending, Wealth Technology (WealthTech), Personal Finance Management, Insurance Technology (InsurTech), Regulation Technology (RegTech), etc.
- The Fintech sector in India has seen cumulative funding of ~$27.6 bn.
- As of October 2021, India's Unified Payments Interface (UPI) has seen participation of 261 banks and has recorded 4.21 Bn monthly transactions worth over $100 Bn in October'21.
- The Fintech sector has 1,860 startups. As of December 2021, India has over 17 Fintech companies, which have gained 'Unicorn Status' with a valuation of over $1 bn.
Indian FinTech companies could address a few of the critical structural issues afflicting Indian financial services-increase outreach, improve customer experience, reduce operational friction, and foster adoption and usage of the digital channel. Legacy prone processes and higher operating cost models of incumbent banks and financial service providers will give digital FinTech companies an edge, as banks play catch-up with these more nimble and innovative start-ups. The opportunity for FinTech lies in expanding the market, shaping customer behavior, and effecting long term changes in the financial industry.
Indian FinTech companies have the potential to reshape the financial services landscape in three ways:
- The FinTech startups are likely to reduce costs and improve quality of financial services. Not being burdened with legacy operations, IT systems, and expensive physical networks, benefits of leaner operating models can be passed on to customers.
- The FinTech industry will develop unique and innovative models of assessing risks. Leveraging big data, machine learning, and alternative data to underwrite credit and develop credit scores for customers with limited credit history will improve the penetration of financial services in India.
- FinTech will create a more diverse, secured, and stable financial services landscape. FinTech companies are less homogenous than incumbent banks and offer great learning templates to improve, both, capabilities and culture.
FinTech companies can learn and adopt best practices around risk and internal controls, operational excellence, compliance culture, and employee engagement, that has stood the test of time for most the banks, and financial services providers in India.
Agenda
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11
30
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11
50
13
50
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14
20
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20
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14
40
15
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40
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10
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17
15
Speakers
John Thomas
CEO of Kerala startup Mission
John is a Technology Leader with wide ranging experience in public and private sector. His technical expertise span process, technology, data, analytics, and digital transformation areas, primarily focusing on Financial Services Industry. He has hands on experience in modern data architecture, data science and artificial intelligence. John has led both strategy and business transformation engagements involving big data, cloud data platforms (GCP, AWS and Azure), machine learning, data warehousing, reporting, data visualization and analytics. He has helped banks transform their operating models and capabilities in functions such as Marketing, CRM, Product/Pricing, Compliance, Risk, Fraud and Operations.
Having worked across 3 continents in leadership roles across banks, technology product startups, technology services and management consulting firms (including Big 4), John brings to bear a holistic set of capabilities and perspectives in technology strategy, business and technology architecture, technology delivery, business transformation and change management.
More recently John has held Technology Leadership roles with the Government of Kerala including leadership roles in Kerala State IT parks and Kerala Startup Mission, including:
CEO, Kerala State IT Parks
Interim CEO, Kerala Startup Mission
Co-Chairperson, Fourteenth Five Year Plan Constitution of Working Group on Information Technology
Member, Governing Board, KDISC
Member, Governing Board, KELTRON
Shri. K N. Balagopal, Minister for Finance represents Kottarakkara constituency of Kollam district in the 15th Kerala Legislative Assembly. He was the Political Secretary of the former Chief Minister of Kerala, Shri V.S. Achuthanandan during the period 2006-2010. Since 2010 he became Rajya Sabha member and had won Sansad Ratna Puraskar for his outstanding contributions to the Parliament in 2016. He is a post graduate in Commerce and Law.
As son of Pathanapuram Kalanjoor Sreenikethan P. K. Narayana Panikkar and O. V. Radhamani, he started his political career as Magazine Editor of Punalur SN College. He held various political positions like Union Chairman of Punalur SN college and Thiruvananthapuram MG College, Member of Kerala University Senate, SFI Kollam District President, SFI District Secretary, SFI State President, DYFI All India President, CPI (M) Kollam District president. He was CPI (M) State Committee member since 1998. Currently he is a member of CPI (M) State Secretariat and Secretary of Kerala Karshaka Sangham.
Shri. P. Rajeev, Minister for Law, Industries and Coir represents Kalamassery constituency in Ernakulam district in the 15th Kerala Legislative Assembly. He was a Member of Parliament (Rajya Sabha) from 2009 to 2015 and has won the Sansad Ratna Award in 2016 for his outstanding contributions to the Parliament. During his tenure as Member of Rajya Sabha, he was the CPI(M) Chief whip at Rajya Sabha and was member of various parliamentary committees like Business Advisory Committee, General Purpose committee, Petitions committee, Finance committee, Information committee, Insurance Bill Select committee, BSNL Conservative committee, etc.
He also received other accolades like CM's Nava Vikasana Puraskaram for Suchi@ School project (2011) for MP Fund utilization, PK Vasudevan Nair Memorial Puraskaram for the best political and social activist in (2014), AC Shanmukhadas Puraskaram for the best Social activist (2014), CP Mammu Memorial Puraskaram for the best political and social activist (2010), Pandalam Kerala Varma Puraskaram for the best Editorial (2006), Sadhar Hashmi award (2017), World Malayali Council Award for the best parliamentarian etc.
Shri. P. Rajeev started his political career as an activist of the Students' Federation of India (SFI) since his School days. Subsequently, he became the President and Secretary of SFI Kerala State Committee and CPI (M) Ernakulam District secretary. He also held various positions like Chief Editor of Deshabhimani Daily, Kerala State Press Accreditation Committee member etc.
His literary works include Aagolavalkaranakalathe Campus, Vivadhangalile Vyathiyanangal, Kazhchavattom, Puraykkumel Chanja Maram, 1957: Charithravum Varthamanavum, Enthukondu Edathupaksham, Sathyanantharakalathe Pratheethi Nirmanam, Bharanaghadana: Charithravum Varthamanavum, CommunistManifesto Samakalika Vayana and Marxist Darshanam Praveshika.
Bishwanath
Sinha, IAS
Principal Secretary, Electronics & IT, at Government Of Kerala
https://trivandrum.nic.in/en/information-technology/Sponsors and Partners
Organizer
Kerala Startup Mission
The Kerala Startup Mission (KSUM) is the nodal agency of the government of Kerala for promoting entrepreneurship in the state. It is also the implementing body for the Kerala Technology Startup Policy that supports the state’s startup ecosystem through the various schemes and support programs. KSUM was founded in 2006, with the goal to promote technology-based entrepreneurship activities and to create the infrastructure and ecosystem required to support high-end technology-based startup businesses.
KSUM acts as a springboard for budding entrepreneurs who wish to launch themselves into the world of technology-based careers and has helped develop several innovative products and solutions. Over the past decade KSUM has been able to build a vibrant startup ecosystem allowing technology entrepreneurs to pursue their goals and dreams by providing them complete support in the startup life cycle. Today KSUM along with sector-specific partner organisations, boast of 2900 + registered startups, 10 Lakh + sq. feet of incubation space, 40+ incubators and 300+ innovation centres across the state of Kerala.
The interventions made by KSUM in Kerala have brought about a cultural change among the youth of Kerala, as well as in how the government goes about its work. Young minds who come up with innovative solutions now have the support of various incubators and government schemes as highlighted earlier, which not only help bring in funding but also provide mentorship and expansion opportunities at different stages. This approach of the government enables startups to entrepreneurs to get ample opportunities to collaborate with the support infrastructure to develop impactful technology solutions.
Community
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