Recovery in a Different Way:
A New Cycle of Tech Investments
in Financial Services

India | August 19, 2021




Overview


Embracing Vision and Value

Balancing long term vision and short-term value!

 

The long-term vision mandates technology investment to keep pace with structural changes in the industry driven by new technology, ecosystem and marketplace, and new competition. While short term value creation focusses on cost and capital responses to survive the crisis and sustain the recovery. The winners will be the firms that most successfully balance the long-term vision and short-term value aspects. Organizations which lurch too far in either direction will find it difficult to survive today or thrive tomorrow.

 

Our findings point to several key attributes that winning financial services firms share, like path to true digital core, exploring value through cloud, renewed open banking and growing prevalence of DevOps.

 

IDC India Conference: Financial Insights Agenda

Time Event & Speakers
14:00

Opening IDC Keynote : The future-enterprise and the tools to chisel that into shape

Cyrus Daruwala
Managing Director, IDC Financial Insights Asia/Pacific

As the Indian financial institutions and enterprises prepare to resume “normal operations”, one thing is for certain, the way we live, work, learn and play has changed for good – and all industries will have to get ready for this new world. Indian financial institutions fared a lot better than say their US or European counterparts; New customer onboarding and verification was rampant, lending and payments thrived, investments and investment-linked initiatives saw an upswing, and generally the consumer had less complaints about their primary institutions – compared to 2019.

14:12

Balancing Long-Term Vision and Short-Term Value in the Cloud: Splunk

Ganesh Vasudevan
Research Director, IDC Financial Insights Asia Pacific
Dhiraj Goklani
Vice President, IT/DevOps, Splunk APAC, Splunk
Sunil Gupta
Principal Client Relationship Manager, Amazon Internet Services Private Limited (AISPL)

Delivering tech investments successfully in the long-term while ensuring value within budget cycles is a struggle faced by most financial institutions in India. The key to balance this dilemma is by measuring and linking the investments to improvements in process and outcomes from the very beginning. Find out how financial institutions are achieving the required flexibility, scalability, agility to bring short-term value while ensuring high availability and security in the long term.

14:33

Debunking the Myths of Emerging Architecture, Microservices and DevOps: Splunk

Mani Govindan
Sales Director, Observability, Splunk
Clay Miller
Senior Executive Advisor, IDC Financial Insights Asia/Pacific

To realize the long-term value of cloud, we see the proliferation of microservices architecture to ensure that applications are more efficient and deployable to the cloud. As financial institutions continue their acceleration and release of new products and applications, what are some myths and realities surrounding Emerging Architecture, Microservices and DevOps? Uncover the truth about monitoring & visibility in an open-source, cloud environment.

14:55

Leadership in Times of Crisis

Michael Araneta
Associate Vice President, Head of Advisory & Research, IDC Financial Insights Asia/Pacific
Tapan Singhel
Managing Director and Chief Executive Officer, Bajaj Allianz General Insurance

In challenging times, leadership matters more than ever as digital leaders are the ones who not only understand the technology, but also know how to use these technologies to resolve their challenges and empower their team. Join IDC’s Michael Araneta in a conversation with Bajaj Allianz General Insurance’s Chief Executive Officer, Tapan Singhel, to find out the lessons learnt, the opportunities that have emerged and the change in leadership style from the crisis.

15:20

Combating Financial Crimes With Graph Databases and Analytics: TigerGraph

Cyrus Daruwala
Managing Director, IDC Financial Insights Asia/Pacific
Chung Ho
Vice President, Solution Engineering, TigerGraph
Everything is connected! However, are we seeing and understanding the connection of data across the different data sets? The question is no longer whether you should adopt graph technology, rather how quickly are you adopting graph to de-risk your business ? In this conversation between TigerGraph's Chung and IDC Financial Insights' Cyrus, we will share 4 interesting use cases, with GoJek being one of them, on how financial services have used graph technology to bring about cost savings, fraud avoidance, and analyze huge data volume real-time to capture fraud.
15:55

AI Powered Service Ops- The future of operational resilience: ServiceNow

Elisha Harrington
Senior Director – Chief Innovation Office, ServiceNow

Operational Resilience is fast becoming the key theme in financial services globally and digital transformations create an explosion of new apps and digital services across on-prem and cloud which humans can’t scale to support, emergence of DevOps teams to help manage technology via decentralized teams, business need to innovate & create new apps quickly to be competitive.

See how connecting your teams on one platform will strengthen your response to disruption where we will discuss how you can accelerate Service Resilience, Speed of Innovation while balancing with Cost, all to deliver amazing Customer and Employee experiences. Future-proof operations by:

· Identifying and mitigating risk to the company, including competitive exposure and security threats

· Developing and managing plans that enable applications and services to add greater value to the business

· Building an innovation engine that delivers service & applications quickly while managing a complex & growing cloud environment and providing a single view of end to end critical services.

16:15

Prioritizing Tech Investments with NSE

Ganesh Vasudevan
Research Director, IDC Financial Insights Asia Pacific
Shiv Kumar Bhasin
Chief Technology and Operations Officer, National Stock Exchange

Being the largest derivatives exchange in the world, National Stock Exchange of India Limited (NSE) continues to focus on technology and innovation to sustain its growth while successfully transforming India’s capital market. As IDC predicts that the annual technology spend in India’s securities market is expected to be close to USD$1 billion by 2024, find out how NSE is prioritizing its technology investments to stay ahead of the game.


16:35

Empowering next generation financial services with Open Banking: Tata Communication

Cyrus Daruwala
Managing Director, IDC Financial Insights Asia/Pacific
Rajesh Awasthi
Head of Cloud and MHS, Tata Communications
Muthukumar RM
Founder Vanghee.com, ThillaiS Analytical Solutions Pvt Ltd

The term “Open banking” has, since the start of the pandemic in 2019, become the most touted term in banking. Every institution in India has some open banking plans or ongoing initiatives. These API-lead initiatives have their own set of questions & limitations. For e.g. Do I work with a fintech or do I build these capabilities myself? Which cloud strategy is best suited for my bank – Hybrid ? Public? Private? What are the standard best-practices in moving critical workloads to cloud – and where should I start? What about Security and regulatory compliance?

17:06

Re-emerging Stronger in the post-pandemic world

Arpita Mitra
Senior Research Manager, IDC Financial Insights Asia/Pacific
Mayank Bhargava
Chief Technology and Data Officer, Pramerica Life Insurance Ltd
Sachin Dutta
Chief Operating Officer, Canara HSBC OBC Life Insurance
In between the stories of resilience and recovery, one sector which has seen a significant breakthrough in most parts of the value chain has been the life insurance sector. From product underwriting to customer sales pitch, many life insurers have found success in defining the new rules for customer engagement strategy. Find out from our experts as they take us through their journeys, their choices and their learnings in the post-pandemic world.
17:29

Closing Remarks

Arpita Mitra
Senior Research Manager, IDC Financial Insights Asia/Pacific

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