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Bringing dynamism in BFSI sector

by The Founder
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Be To Be Infomedia organised the 4th edition of the BFSI and Fintech Conclave and Awards in Mumbai on 11th October, 2023. The event saw participation from more than 200 BFSI and fintech experts who held discussions on various topics that require urgent attention in the current times.

People working in the BFSI and fintech sector came together and dived down into various aspects of digital payments, cyber resilience, cross-border payments, transactions via wearables, digital banking, open banking and automation and analytics, among others.

The conclave began with a panel discussion on the topic “Digital Payments: The Vivid Landscape of Digital Transactions of Future,” wherein the panellists pointed out that two out of every transaction in India are digital and 50 per cent of transactions will be through voice by 2030.

The event also saw a panel discussion on “Envisaging Innovations for Future Growth and Development” in which the panellists stressed that every customer wants a personalised approach today that requires a lot of data. Besides, the use of Artificial Intelligence (AI) and Machine Learning (ML) depends upon the geography where one is working, the product that is being offered and the customers who want that product. They also mentioned that organisations always need to understand what their customers want and build their products and services around that.

In another panel discussion titled “How Cloud Technology is Shaping the BFSI Industry – Current Scenario and Way Forward,” the panellists said that the future is going to be multi-cloud. However, while opting for cloud, it’s important to analyse each application with the delivery output.

Regarding cyber resilience, the conclave saw a panel discussion titled “Cyber Resilience: How much and how far and what new?,” the experts opined that right policies, standards and processes are needed to sustain in the long run and cybersecurity has been among the top three priorities for board members of any organisation. Apart from it, cyberimmunity is also a factor that needs to be looked upon.

Lastly, the event witnessed a panel discussion “Knowing the Customers and their Expectations: Technological Efficacy in Customer-Centric Approach,” wherein panellists highlighted that it is necessary for customers to feel confident, comfortable and convenient while choosing a service. In addition, AI, along with the support of human intelligence, can bring better results. 

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