The NBFC & FinTech Excellence Awards 2022, was organized and hosted by Quantic India, on 4th of March 2022 at Holiday Inn, Mumbai. This event provided a platform to discuss the CXO’s perspectives on digital transformation and the new realms for digitization in the current financial landscape.
Key Highlights of the panel discussion:
- CXOs are a major driving force behind the growth of the NBFC & FinTech industry. They are leveraging digital technologies to not only optimize their internal processes but also to create strong customer engagement strategies. This is helping them to multiply their reach and boost their business, as they can now provide customers with faster, more efficient and cost-effective services. CXOs are also creating innovative solutions that enable customers to have better control over their finances and make informed decisions.
- The NBFC & Fintech Industry is being shaped by some exciting new innovations. For example, the use of block chain technology has enabled more secure and efficient payments and data storage, while Artificial Intelligence (AI) is automating many processes to reduce costs and improve customer experience. Additionally, open banking platforms are also allowing customers to access their financial data from multiple institutions in one place, creating a more seamless user experience.
- The pros for cloud based systems and IT enabled applications are that they offer increased flexibility, scalability, cost savings and improved business agility. The cons for this type of system are that security can be an issue if the data is not properly protected and managed. Views on public clouds and virtual clouds vary from company to company, with some companies feeling more comfortable relying on a virtual private cloud due to its additional security measures. Ultimately, each organization must evaluate the pros and cons of a cloud based system to decide whether it is the right fit for their needs.
- The responsibility for martech within an organization should fall on the shoulders of all departments involved, however, it is crucial that the CMO and CTO have a strong relationship and open communication in order to ensure successful implementation. With digital transformation becoming more prominent each day, having a solid understanding of the technology used and how it will be implemented is essential for organizational success. In order to ensure that martech is being utilized efficiently, it is important for there to be an ongoing dialogue between the CMO and CTO so that both parties are aware of any potential challenges or opportunities.
- The CTO, CMO and CDO can forge a strong working relationship by collaborating on the development of a digital strategy that centre’s on the organization’s needs and objectives. They should strive to become comfortable with each other’s roles and responsibilities in order to better understand how to work together for success. Regular meetings should be scheduled where they can discuss any changes or updates in their respective fields, as well as address any potential issues or concerns that could impede progress while working towards their digital enterprise goals. By forming this strong relationship, they will be able to build a successful future digital enterprise.
Our Expert Moderator: Balaji Vishwanathan , MD & CEO, Expleo Solutions Ltd
Our Eminent Panellists:
- Dipesh Karki- CTO, LenDen Club
- Vivek Kant – CTO, Bajaj Finserv Markets
- Nand Kishore Purohit – CDO, IIFL Securities
- Sivakumar Nandipati- Joint President and business Head – Kotak Neo, Kotak Securities Limited
- Gautham Sinha – SVP Technology, LoanTap Financial Technologies
- Ashish Tewari – SVP and Head of Engineering, Niyo Solutions
- Guarav Arora – Head of BFSI Vertical, Yotta Infrastructure
The panel session was highly beneficial and provided a great opportunity to gain insight into the industry from experts & was also very informative, as the speakers gave us tips and advice that can be used in real-life scenarios to help us improve our skills and productivity.
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