Introduction

The financial sector is at the forefront of digital innovation with disruption taking place at every level. New technologies, increasing competition and ever-growing consumer expectations have resulted in a dynamic financial landscape, bringing both challenges and opportunities. The global financial services market size is expected to grow from $20.4 trillion in 2020 to $22.5 trillion in 2021 at a CAGR of 9.9% and is further expected to reach $28.5 trillion by 2025 at a CAGR of 6%.

The financial services sector is one of the biggest generators of alpha for investors historically. The key players in banking, non-banking finance, insurance, microfinance, and asset and wealth management have kept the space vibrant with strong organic as well as inorganic expansion. The Indian financial services sector is expected to grow exponentially at 15% by 2022. However, the sector in India is facing many challenges, including asset quality mismatch, low capital adequacy ratio, increasing NPAs, unhedged forex exposure, and lower penetration in the unbanked segment among others. Adoption of technology and innovation in the sector has addressed many such issues and has empowered individuals and companies to access financial services, be it payments or credit products, at their fingertips. The application of technology has redefined the financial sector. Mobile payments, online wallets, UPI, digital lending, online banking are all results of innovation in the sector.

The sector remains attractive, has absorbed over $40 billion of private equity money and has seen M&A worth a similar amount since 2011, according to VCCEdge. Although the pace of investment activity has slowed since last year due to pandemic, it is expected to pick up again as the long-term picture remains attractive on the back of digital adoption by the sector and several reforms and initiatives taken by the government, such as launch of Credit Guarantee Fund Scheme for MSMEs, issuing guidelines to banks regarding collateral requirements and setting up a Micro Units Development and Refinance Agency (MUDRA).

To gauge how the financial services are constantly innovating to stay ahead of the curve, gaining crucial insights to maximize their digital ROI, VCCircle is organising its next edition of FinServ Summit on September 17, 2021 on a virtual platform.


Agenda

9:30 AM onwards
  • 9:30 AM – 9:40 AM

    Welcome Address

  • 9:40 AM – 10:00 AM

    Keynote Address: A nimble digital future

    It has been a turbulent year in financial services. A highly regulated sector of the economy, characterized by unpredictability and volatility, fierce competition, and constant disruption all while meeting skyrocketing customer demand for digital first experiences. It calls for agility and insights from data to increase business value. Online/video KYC, digital lending, online payments, wallets, UPIs, neo-banking among others have become the new normal. Understand how financial services has reacted to the changing dynamics of the market leveraging technology.

  • 10:00 AM – 10:40 AM

    Panel Discussion 1 : NextGen NBFCs - Survival of the fittest

    The loan book of Indian NBFCs has grown at a rate of 18% in the last five years, with the sector's contribution to total credit increasing from 15% to 20% in just three years. However, their main source of funding remains banks and this has come at the cost of inadequate funding, mainly due to deterioration in the credit profile of banks and the overall weakening of confidence in the sector following some high-profile defaults. In the wake of these developments, it has become imperative for NBFCs to get their act together and gear themselves to be the NextGen NBFC. How are NBFCs tackling this? Are there any alternative options to explore to raise funds and how do they deepen that?

  • 10:40 AM – 11:20 AM

    Panel Discussion 2: Raising the bar - Delivering extraordinary customer experience

    Customer experience is mission critical in the financial services sector. The playbook of customers is ever changing. Today’s consumers compare their banking experiences not only to those delivered by rival banks, but also to other services offered by the world’s most disruptive companies, including consumer tech giants like Google or global online retailers like Amazon. Today’s customer expects proactive customer engagements, hyper-personalization, seamless-omnichannel, data transparency and security amongst other services. What are the broader changes that the industry needs at a macro level and what could be the micro interventions required? How do they build agility to become a responsive brand?

  • 11:20 AM – 11:40 AM

    Special Address: Fintech - The next big opportunity

    Fintechs have become a hotbed of customer-centric innovation. Sleek and efficient offerings across payments, lending, insurance, wealth management and broking have disrupted industries and transformed the face of financial services. India’s fintech industry is estimated to add another $100 bn in market valuation over the next 5 years, as per BCG report. The segment has also attracted $ $8.3billion from CY 2016-20, as per VCCEdge. How can the financial services sector leverage the fintechs and how investors can grasp the investment opportunity? How can fintechs, financial institutions and policymakers together script the next, global success story for India’s fintech sector?

  • 11:40 AM – 12:20 PM

    Panel Discussion 3: MSME - Key to an inclusive and sustainable recovery

    MSMEs, being the second largest employment generating sector of India after agriculture (provide employment to over 110 million workers), contribute 30% to India’s GDP. The sector was worst hit by the pandemic. To offset the economic impact of second wave of COVID, government has expanded the INR 3-trillion Emergency Credit Line Guarantee Scheme (ECLGS) to help this sector. What are the other measures taken by the government to revive this sector? Why and how MSME lending is important for sustainable recovery?
  • 12:20 PM – 1:00 PM

    Panel Discussion 4: $5 Trillion Economy - Aspiration to Action

    As we are aspiring for a $5 trillion economy, how financial services sector would play an important role? What would it require to fulfil this aspiration? What are the ways, means, frameworks, or methodologies that can be deployed to fund the next $5 trillion?  

  • 1:00 PM – Onwards

    End of Conference


Speakers 2021

TO BE ANNOUNCED


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