Elets Technomedia and The Banking & Finance Post successfully concluded the Elets 14th NBFC100 Tech Summit, the longest-running NBFC Conclave that brought together eminent leaders from the NBFC sector to explore and drive advancements in the financial industry. The summit took place on 2nd August 2023 at the Hilton in Chennai.
The summit themed “Innovating the Financial Landscape: NBFCs at the Forefront,” exemplified the unwavering commitment of the industry to leverage cutting-edge technologies, foster innovation, and lead growth in the financial sector. Dr. Ravi Gupta, Founder & CEO of Elets Technomedia & Editor-in-Chief of The Banking & Finance Post, warmly welcomed the esteemed panelists and highlighted the enduring legacy of Elets NBFC100 Tech series, illustrating its significant impact on technology in the NBFC sector. He also emphasised the remarkable digital growth witnessed by the NBFC sector across all levels, encompassing customer services, back-end operations, and other aspects of the industry.
During the summit, Lakshminarayanan Duraiswamy, Managing Director of Sundaram Home Finance, emphasised the remarkable resilience displayed by NBFCs over the past few decades. He praised the NBFC sector for being an essential pillar of the country’s credit ecosystem and highlighted their crucial role in the credit delivery system, acting as the last-mile connectivity for borrowers.
Mandar Lokegaonkar, Founder & CEO of Piscis Networks, addressed the importance of enabling underserved and underbanked communities, including remote locations and areas with poor infrastructure. He also underscored the privileges enjoyed by Tier I and Tier II cities, which are often lacking in the underserved communities.
An illustrious lineup of speakers, who are renowned in the financial and technology domains, gathered to share their insights. Some of the esteemed speakers included: V Sendil Kumar, Chief Technology Officer, Shriram Capital Limited; Suresh Sarangapani, GM- Information Technology, Muthoot Finance; Samson Santhosh, Chief Technology Officer, L&T Finance; Durgaprasad Swaminathan, Chief Information Officer, Cholamandalam Investment and Finance Company Ltd; Dhanasekaran S., Chief Technology Officer, Belstar Microfinance Ltd; Raman Aggarwal, Director, FIDC & Paisalo Digital Ltd, among many others.
The 14th NBFC100 Tech Summit garnered tremendous response from its esteemed partners: Powered By Partner – Piscis; Gold Partners – Thales and Technobind; Retention Partner – WebEngage; Digital Lending Partner – Lentra; Network-as-a-Service Partner – Polarin; Technology Partner – Trustt; KYC Partner – Signzy; Telecommunication Partner – Smartping; Associate Partner – Decentro. The summit also hosted exhibitors such as Primesoft, Celusion, Isolve, Leegality, ESDS, Bautomate, Smoad Networks, Finequs, and Veefin. In addition, the summit received support from the FIDC and Sa-Dhan as Supporting Partners.
Throughout the day, the summit also experienced engaging sessions that stimulated thought, with a particular focus on the challenges and opportunities in the NBFC sector. Additionally, some of our esteemed partners took the opportunity to present their technology products, providing insights into what they had to offer.
Ganesh Krishnan, Director, Value Engineering, Lentra, stated, “As the name suggests, Lentra stands for lending transformation, offering a comprehensive digital lending ecosystem. With a portfolio of 20 products, the Lentra platform has seen a significant increase in usage. This is made possible by the system’s reconfigurability, which incorporates over 250 third-party APIs readily available in a plug-and-play fashion. Among these APIs, more than 70 OEMs are integrated. Over the past four years, Lentra has successfully acquired more than 60 customers.”
Gautam Bandyopadhyay, CEO and Co-founder, Trustt, said, “Our primary focus lies in revolutionizing the user experience within the banking and financial services sector. Leveraging GPT technology, we have successfully transformed customer interactions through a sophisticated AI model capable of providing intelligent and human-like responses, understanding the context of conversations.”
In a grand celebration of excellence, Elets 3rd NBFC100 Leader of Excellence Awards were conferred upon the remarkable achievers. These esteemed individuals and organizations have set industry standards and demonstrated outstanding leadership, bringing the best practices to the forefront of the NBFC sector.
The champions of the Elets 3rd NBFC100 Leader of Excellence Awards included: DigiMoney Finance Private Limited that won the award under the category: Emerging Name in NBFC industry; LoanTap bagged the award for Excellence in financial inclusion; Revfin Services under the category, Trailblazer in Digital lending; CredAble won the awards for Leading Digital Transformation Enabler for Banks; ISOLVE Technologies Pvt Ltd, won the award for Outstanding Digital Transformation Partner; Oxyloans has bagged the award under the category Excellence in innovation & customer engagement initiative; Finnup under the category, Emerging name in Business Transformation; ESDS won the Outstanding Cloud Service Provider award; Decentro had bagged the Best Debt Collection Platform award; Bautomate has won the Excellence in Overall Organisational RPAs awards; and Cookiejar Technologies Pvt Ltd. had bagged the Innovative Digital Lending Support award.
The Elets 14th NBFC100 Tech Summit has left an indelible mark on the financial industry by fostering collaborations, instigating innovation, and setting a new benchmark for technological excellence.