In a resounding success, the Elets 16th NBFC100 Tech Summit, organised by Elets Technomedia and The Banking & Finance Post, successfully concluded yesterday at the Crowne Plaza, New Delhi. The event marked a significant milestone in the evolution of NBFC with the theme, “Building the Gap, Bridging the Future,” focusing on the fusion of innovative technologies and strategic foresight in the financial sector.
Since 2017, the Elets NBFC100 Tech Summit has consistently paved the way for innovation and progress, showcasing the pivotal role of NBFCs in shaping India’s financial landscape. As the 16th edition drew to a close, we were poised to delve deeper into the cutting-edge strategies and technologies that drove unprecedented change. As India’s biggest and longest-running NBFC congregation, it served as a critical convening for thought leaders in the financial sector to share insights, forecast industry trends, and showcase innovative technologies that were shaping the future of non-banking financial services.
The event witnessed a stellar lineup of speakers, including industry leaders such as Golok Kumar Simli, Principal Advisor and Chief Technology Officer, Ministry of External Affairs; Ashish Mehrotra, Chief Executive Officer, Northern Arc Capital; Vinay Mathews, Founder & COO, Faircent; Aastha Arora Gupta, Chief Executive Officer, Share India Fincap Private Limited; Vijaykumar Ramakrishna, Chief Technology Officer, Clix Capital; Durgeshwar Mishra, Chief Executive Officer, Shubhlakshmi Finance Private Limited, and many more. They, along with others, set the tone for insightful deliberations on the future of the NBFC industry of India.
The summit was supported by its esteemed partners, setting a stage for celebrating innovation and acknowledging the remarkable contributions to the insurance industry. The success of the summit is attributed to the invaluable support received from our esteemed partners. We extend a heartfelt and sincere gratitude to our Gold Partner: BluSapphire; Fintech Partner: Ring; Underwriting and Insights Partner: FinBox; as well as Loyalty & Rewards Partner: easyrewardz.
The exhibitor partners of the summit were Celusion; Velocis; Presolv360; yodaplus; sakshath; Surepass; Gridlines by OnGrid; Solytics Partners; PaySprint; ESDS; and VaultEdge. FIDC, Sa-Dhan, and UPMA also joined the summit as the Supporting Partners.
The Elets 16th NBFC100 Tech Summit not only emphasized the critical role of NBFCs in India’s financial framework but also provided a platform for forging new collaborations and adopting next-gen technologies that will shape the future of finance.
At the 56th In-Person event of The Banking & Finance Post, Dr Ravi Gupta, Founder & CEO of Elets Technomedia and Editor-in-Chief of The Banking & Finance Post said, “The Elets NBFC100 Tech Summit is the premier event for NBFCs in India, specialising in technological advancements within the sector. Initiated in 2016-2017, this series has grown to become the longest-running conference dedicated to NBFC technology in the country. This year marks our 16th edition. Over the years, we have hosted the summit in various major cities across India, including Mumbai, Chennai, Hyderabad, Bangalore, Kerala, and Goa.”
The overwhelming response and active participation from all stakeholders underscore the importance of continued dialogue and collaboration within the NBFC sector. Elets Technomedia Pvt Ltd is committed to nurturing these interactions through its future events, ensuring that the NBFC industry remains at the forefront of technological adoption and financial inclusivity.
Golok Kumar Simli, Principal Advisor and Chief Technology Officer at the Ministry Of External Affairs, stated, “Non-banking financial Companies (NBFCs) are pivotal in today’s rapidly evolving financial landscape. They provide essential services such as loan advances and acquiring various marketable securities, including stocks, bonds, and government securities. Central to their operation is adherence to regulations set forth by financial authorities like the Reserve Bank of India, which ensures these institutions comply with necessary guidelines.”
Vijay Kumar Ramakrishna, Chief Technology Officer, Clix Capital, during his special address said, “Over the past three years, new regulatory changes have spurred the creation of numerous small finance corporations, with NBFCs poised to play an increasingly significant role in the future. Clix Capital has streamlined its offerings from 14 products to just 4. It has been integrating cloud services into its operations for the past four years, with a current focus on cloud optimisation. They also enhance their digital capabilities by adding specialised treasury and asset liability management applications. To protect its cloud environment, Clix Capital conducts biannual risk assessments with the assistance of third-party cybersecurity consultants. They have fortified their systems by encrypting data to guard against ransomware attacks and implementing multi-factor authentication to access user accounts. Beyond these measures, real-time monitoring of user activities helps minimise financial losses and verify the legitimacy of transactions. Through these strategies, Clix Capital ensures robust data and application access protection within its cloud services in today’s digital landscape.”
Brijesh Mishrra, Director Sales – India, Asia & Middle East, BluSapphire, left an lasting imapact on the audience during his techbnology presentation stating, “Non-banking financial companies (NBFCs) have emerged as a crucial pillar in the growth of the Indian economy, contributing significantly to India’s ascension to the fifth largest economy in the world. This achievement is not solely the result of one sector; various sectors have played vital roles, yet the contributions of NBFCs are particularly noteworthy.”
“The government aims for India to become the third-largest economy. This ambitious goal hinges on the development of rural India, a segment often overlooked. NBFCs play a transformative role in this regard, supporting the affluent and reaching out to the underprivileged and those in rural areas who aspire to rise. Through their efforts, NBFCs are true front-line heroes, essential to India’s broader economic ambitions and the upliftment of its rural populace”, he concluded.
“FinBox DeviceConnect is India’s premier alternative data scoring platform, currently leading the way in providing lenders with access to rich, real-time alternative data for credit underwriting, cross-selling, and collections. We empower over two crore borrowers annually by enhancing their profiles with comprehensive data drawn from over 25 NBFCs, banks, super apps, and lending platforms. Our innovative solution integrates seamlessly with credit bureau information, enabling lenders to make informed, real-time decisions, thereby significantly improving the accuracy and efficiency of their financial assessments,” said Anant Deshpande, Co-Founder, FinBox during his technology presentation.
The event also celebrated the grand launch of the NBFC-special edition of The Banking & Finance Post Magazine, featuring the accomplishments and pathways of prominent figures in the NBFC realm.
Another highlight of the event was the 5th edition of Elets NBFC100 Leader of Excellence Awards, India’s longest-running NBFC-focused awards program, which honored remarkable achievements in innovation, adaptability, resilience, and technological progress among NBFC institutions and individuals.
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