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A Glance at the FinTech Industry through an International Finance Conclave

09 Jan 2021

The Finance Area of JAIN (Deemed-to-be University), CMS Business School, organized an online international finance conclave titled FinTech: Digital Transformation in the Pandemic Era on July 31, 2021. The guest speakers for the event were industry experts like Mr. Govinda Bhadada, Chief Investment Officer at Proprietary Fund, Dayesh Angle, Director - Finance at Capita, Ms. Surabhi Gawde, Associate Director at Capgemini Invent, Mr. Raghavendra Prasad, Vice President - Digital Transformation at J.P. Morgan, Mr. Sadashiv K Vaasista, Director - Business Analytics at Honeywell, North Carolina, United States, Mr. Gautham Danayya Math, Principal Finance Officer at NSW Government New South Wales, Sydney, Ms. Bhavna Manchanda, Manager Treasury at ICICI Bank, and Mr. Harisha Rao, Associate Principal - Data Science at Infosys.

The session commenced with opening remarks. The welcome addresses were from Dr. Dinesh Nilkant, Director – CMS Business School, Dr. Raj Singh, Vice-Chancellor – JAIN (Deemed-to-be University), and Dr. Harold Andrew Patrick, Professor and Dean (Academics) - CMS Business School. Mr. Govinda Bhadada spoke on the topic FinTech Landscape in India. He highlighted how people have started spending more time online, and this behavioral change is a perfect developing ground for fintechs. Mr. Dayesh Angle chose the topic Digital CFO – Embracing the Digital. He spoke about integrating digital technology into all business areas to obtain fundamental changes in how businesses operate and deliver value to customers. He said, "New dimensions are getting added to CFO profile such as strategic leadership, data-driven value creation, digital labor, etc." Ms. Surabhi Gawde chose FinTech and Embedded Finance as her topic. She spoke about Kirana, a digital app that supports customers in buying groceries and other items. She said, "The highlight of new-age technologies is the comfort they offer." Mr. Raghavendra Prasad chose the topic Driving Controls and Resiliency in Banking and Finance in the Times of Crisis. He explained the processes, factors, and requirements of any bank or financial body going digital. Mr. Sadashiv K Vaasista chose to deliver his speech on Driving Operational Efficiency through Enterprise Digital Transformation. He spoke about digital transformation in finance via inflation analytics, orders past due improvement account receivable forecast, and inventory optimization. He spoke about digital transformation in finance via inflation analytics, orders past due improvement account receivable forecast, and inventory optimization. He said, “Shift is needed from machine learning to learning machines, and digital path convergence is the new normal.” Mr. Gautham Danayya Math spoke on Reflections on Digital Transformation in Australia during the Pandemic. Ms. Bhavna Manchanda chose the topic FinTech: The Future of Banking. She said, “Fintech is shaping the future of banking.” Ms. Harisha Rao spoke on FinTech: Dark Side and Challenges. She said that the dark side of fintech brings in new sources of traditional forms of risk, entirely new markets or systems, and data privacy risk. Highlighting the challenges, she said, “Cyber insurance premiums have tripled, the economic impact is five-fold and will snowball into financial destabilization if not contained.”

Post the informative speeches from the guest speakers, the conclave witnessed a panel discussion and a Q & A session. The session concluded with a vote of thanks. Overall the session was a success and provided valuable insights into the topic.

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