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India Financial Services Summit

Embracing Emerging Technologies for Financial Services Growth

Jio World Convention Centre, Mumbai, India

‘India

Overview

The future of financial services in India holds immense promise, characterized by a blend of innovation and inclusivity. Fintech advancements are set to revolutionize the banking sector, catering specifically to the needs of the unbanked and underbanked populations. Mobile payments, digital lending, and other emerging technologies will thrive, offering greater accessibility and convenience to consumers across the country. 

This transformation is further bolstered by regulatory evolution, which aims to ensure stability and consumer protection in the financial services ecosystem. Collaborations between traditional banks and fintech startups will play a pivotal role in driving efficiency and customer-centricity, ultimately fostering economic growth and prosperity.

Against the backdrop of an expected GDP growth of more than 6.2% YoY in 2024, the financial services sector in India is gearing up for significant technological advancements. According to IDC, Indian financial institutions are projected to increase their technology spending by 11.4% this year. This emphasis on technology investment underscores priorities such as security, data transformation, legacy core modernization, and the adoption of AI/ML solutions.

India's economic resilience is evident, as recognized by global institutions like the World Bank and the IMF, projecting it as the fastest growing among major nations. As per IDC's 2023 India Digital Business Survey, the below can be considered

  • India's economic dynamism is acknowledged globally, with robust projections by institutions like the IMF for sustained growth in 2024 and beyond.
  • Indian enterprises are heavily investing in digital technology, with around 70% increasing their digital tech budget by 19% from 2023, totaling approximately $63 billion.
  • The focus is on leveraging AI and Generative AI technologies to enhance customer satisfaction, revenue generation, and innovation, with over 75% of companies exploring or implementing Generative AI.

Furthermore, the next two years will see a strategic realignment towards digital transformation (DX), with a sharp focus on elevating customer experiences and revenue generation. CEOs are spearheading the formulation of digital strategy decisions. While 2023 observed a cautious approach to IT spending, 2024 is anticipated to witness a notable change, marked by increased budgets aimed at fortifying resilience and competitiveness through innovative technological initiatives.

Why Attend?

The Financial Services Symposium 2024 in India will offer exclusive insights from senior analysts, financial experts, industry trendsetters, and BFSI thought leaders as they delve into the latest trends and technologies driving innovative operating principles at scale within the Indian financial landscape. With senior leaders from India's financial sector in attendance, the summit will facilitate discussions on the evolution of the Indian financial services industry and the profound positive impact of innovative digital solutions on profitability, growth, and customer experiences within the Indian market. Besides, as part of this digital transformation and in alignment with the priorities set by the Reserve Bank of India (RBI), several key initiatives are being prioritized:

CBDC: The RBI is exploring a digital version of the Indian rupee to boost financial inclusion, lower transaction costs, and ensure secure transactions.

Electronic Payment System: Leveraging Aadhaar, the RBI is fostering an electronic payment system for seamless, secure transactions, especially for those without traditional banking access.

Electronic Trading Platform: The RBI prioritizes electronic trading platforms to improve market efficiency and transparency, enabling the trading of financial instruments while ensuring regulatory compliance.

These initiatives, along with broader technological advancements and regulatory support, are poised to reshape the financial services landscape in India, driving greater accessibility, efficiency, and innovation while promoting economic growth and inclusion.


These initiatives, along with broader technological advancements and regulatory support, are poised to reshape the financial services landscape in India, driving greater accessibility, efficiency, and innovation while promoting economic growth and inclusion.

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Agenda

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Friday June 7, 2024
16:00

Networking and High Tea

16:30

Opening Act

16:35

Welcome Address by IDC

16:45

Panel Discussion: India Macro Economic Update

17:15

Affiliation Keynote

17:25

IDC Keynote: Simplification in an Age of Complexity

17:40

The benefits and Challenges of Building API-Based Ecosystems

18:00

Q&A (Ask Questions & Stand a Chance to Win a Raffle)

18:05

The critical role of cloud in driving digital-first financial services operations

18:20

Q&A (Ask Questions & Stand a Chance to Win a Raffle)

18:25

Using Technology to Transform Financial Institutions into Sustainable Businesses

18:40

Q&A (Ask Questions & Stand a Chance to Win a Raffle)

18:45

Migrating to a Frictionless Biometric Security Authentication Model

19:00

Q&A (Ask Questions & Stand a Chance to Win a Raffle)

19:05

AI-Driven Personalization: GenAI as Personal Assistants and the impact on Banking Experiences

19:20

Q&A (Ask Questions & Stand a Chance to Win a Raffle)

19:25

Tea/Coffee & Networking Break

19:45

(Parallel Sessions)

20:15

Gold Partner Tracks (Parallel Sessions)

20:45

Awards and Gala Night

Speakers

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Partners

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Contact Us

Deepa Ahuja

Senior Conference Director, META Events

+91 981874 7089

Subhajit Chakraborty

Account Manager - Events

IDC, Foundry

IT executives rely on IDC and Foundry events for discovering new ideas, trends, and solutions that drive their technology strategies. Leveraging IDC’s deep market intelligence and advisory expertise, and Foundry’s rich media brands (CIO, Computerworld, InfoWorld) and relationships, IDC and Foundry produce powerful learning and networking experiences for IT decision makers around the world.