Financial technology, popularly known as FinTech, is a groundbreaking technological advancement that has eased the use of financial services globally. FinTech has redefined the use of technology in the industry with mechanisms like digital payments, the blockchain, bitcoins, etc. FinTech, as an emerging industry in India, has had its fair share of challenges and opportunities in the business. IFIM Business School recently hosted its corporate meet event, Confluence 2017: Edition 3, on 2nd December with the industry leaders to gain an overview of the landscape of the FinTech industry.
Confluence is a platform created exclusively by IFIM Business School to bring together the leaders from the industry under the same roof to discuss various industry trends, opportunities & challenges. The 3rd edition of IFIM’s Confluence 2017 was aimed to address the opportunities and challenges in the FinTech industry.
Mr Nithin Kamath, Founder & CEO, Zerodha, graced the event as the Chief Guest with many other business leaders from the finance and technology industry. Speaking at the event, Mr Nithin Kamath said, “only 1% -1.5% of the Indian population participates in the capital market”. He further added, “If ever there was a time in India to start a FinTech startup, it is NOW!”.
Mr Nithin Kamath, Founder & CEO, Zerodha
The panel discussion addressed the trends and the impact of FinTech on financial services lending, insurance, investments, etc., was an enriching session. During the discussion, Mr Uddipan Bagchi, VP of Global Insurance Practices – NTT Data Services, said, “Many new #FinTech #Startups are completely disrupting the #insurance industry”.
L – R: Mr Sanjay Padode, Mr Ravindra Prasad, Mr Uddipan Bagchi, Mr R N Murthy,
Mr C S Sudheer, Dr Rajendra Kumar Sinha, Ms Aruna Venkatachalam
The event concluded with an interesting Q & A session that discussed FinTech replacing the banks in the future.