The 2nd Annual NBFC & FinTech Excellence Awards 2023, was organized and hosted by Quantic India, on 3th of March at Holiday Inn, Mumbai.
The Second Edition of NBFC & FinTech Excellence awards provided a platform to all the experts from the finance sector to share their expertise fraud prevention, digital lending, data protection, and risk analytics.
Key Highlights of the Panel Discussion:
- Harnessing new technologies can revolutionize the way NBFCs and Fintechs operate. With the rise of AI, machine learning, and data analytics, firms can gain insights into customer behaviour to more accurately target services to their customers. Additionally, the use of block chain technology provides a secure platform for digital transactions and smart contracts, allowing for faster transaction times and improved security protocols. Finally, the implementation of digital identity solutions can offer customers enhanced levels of identity verification to provide an extra layer of security in their financial activities.
- The lending industry has changed drastically in the modern era and companies must be agile and secure to protect themselves against fraud. This is especially true for online lenders who are more exposed to potential cyber security threats and malicious actors. It is absolutely essential for them to have robust systems in place to ensure their customers’ data is safe, while also being able to rapidly respond to changing market conditions. Overall, I believe that if a company wants to succeed in the current lending landscape, they must prioritize agility and security.
- Intelligent automation plays a key role in the financial services industry by streamlining manual processes, reducing costs, and improving customer experience. It can automate complex tasks such as compliance checks and financial reporting, freeing up time for staff to focus on value-adding activities. Intelligent automation also has the potential to reduce human error and increase accuracy in areas such as fraud detection, thereby mitigating risks and improving customer satisfaction.
- CTOs are playing a critical role in helping financial services firms transform and expand their businesses. From leveraging data to developing new technology platforms, CTOs are introducing innovative strategies to drive the next phase of growth. Through the use of cutting-edge technologies such as artificial intelligence, machine learning, block chain, and cloud computing, CTOs are helping financial services firms optimize their operations and develop new products and services that meet customer needs while also providing enhanced security measures. As a result, CTOs are becoming increasingly important within the financial services industry as they help businesses innovate and remain competitive in an ever-changing market.
- Industry leaders in technology are pushing the envelope when it comes to developing new technologies for credit cycle and secure transactions. Many companies are leveraging the power of block chain technology to create new payment networks that allow for faster and more secure processing. By using innovative encryption methods, they are able to provide enhanced levels of security while also reducing transaction costs and increasing speed. Additionally, some tech giants are investing heavily into artificial intelligence (AI) research that will enable computers to automate many of the processes associated with credit cycles and secure transactions, leading to even greater efficiency.
- Technology leaders in financial services face a variety of challenges when embarking on the digital journey. This includes meeting customer expectations for faster, more personalized services; developing new customer-facing capabilities while managing legacy systems; and maintaining compliance with ever-evolving regulatory requirements. Security is also a major concern, as cyber threats continue to grow in complexity and frequency. Establishing strong measures to protect customer data and systems from malicious attacks is essential for companies navigating the digital landscape.
Our Esteemed Panelists are as follows:
- Our Expert Moderator Karthikeyan VS, Director & Head India Business, Expleo
- Naved Hussain, Chief Technology Officer, Adani Capital
- Riyaz Ladiwala, President and Head Tecnology and Operations, Nuvama Group
- Smitesh Shah, EVP & Head Business Technology & Transformation, Ambit Finvest Pvt Ltd
- Anil Sinha, Chief Technology Officer, Fibe [ Formely known as Early Salary ]
The Round Table session was extremely valuable, as we gained insights from industry experts. The panel provided an excellent chance to experience their inspiring stories and learn from their own successes.
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