Elets 8th BFSI Leadership Summit: A Convergence of Tech Innovators Shaping the Future of Finance

Elets 8th BFSI Leadership Summit

Elets Technomedia and The Banking & Finance Post successfully wrapped-up the 8th edition of Elets BFSI Leadership Summit at Sahara Star, Mumbai. The gathering was a monumental assembly of leaders from the BFSI sector, all aiming to redefine the future of the industry.

Themed “Digital DNA- Reinventing BFSI for the Future,” the summit epitomized the industry’s steadfast commitment to leveraging advanced technologies, sparking innovation, and driving growth in banking. Dr. Ravi Gupta, Founder & CEO of Elets Technomedia & Editor-in-Chief of The Banking & Finance Post, extended a warm welcome to the distinguished panelists and attendees at Elets 8th BFSI Leadership Summit. He noted that this year marks the 20th anniversary of Elets, and highlighted the organization’s significant journey in organizing conferences focused on IT-driven innovations across various sectors, including government, finance, healthcare, and education.

The summit started off with the Keynote address by Sumnesh Joshi, Deputy Director General, Ministry of Communications and IT, who discussed around the topic “Ensuring Effective and Convenient Service Delivery to the Residents using Digital Identity”.

Moving ahead with the topic, Sumnesh Joshi stated that, “In the past 10 years, significant changes have been implemented in the BFSI sector, with Aadhaar playing a transformative role in the delivery of financial services. When Aadhaar was launched in 2010, there were many apprehensions regarding its importance and feasibility. However, through Aadhaar authentication and e-KYC, the delivery of numerous financial services became operational and effective.”

Deepak Sharma, President & Chief Digital Officer, Kotak Mahindra Bank during his industry session, stated that, “When examining all key metrics today, it’s evident that India has a solid digital foundation in terms of data availability, user intent, consumption, and penetration. However, the progress in financial inclusion hasn’t kept pace with the strides made in data and device accessibility. This represents a significant challenge for all stakeholders involved in developing India’s financial infrastructure.”

An illustrious lineup of speakers, who are renowned in the BFSI realm, gathered to share their insights. Some of the esteemed speakers included: Anuradha Bhatia, Executive Director & Head – Data Analytics & AI, Standard Chartered Bank; Sadaf Sayeed, Chief Executive Officer, Muthoot Microfin; Subhrajit Mukhopadhyay, Executive Director, Edelweiss Tokio Life Insurance; Ashton D’Cruz, Executive Director, Natwest Markets; Manu Lavanya, Director & Chief, Operations Officer, Max Life Insurance; S Sekar, Chief Information Officer & General Manager, Karur Vysya Bank; Ajay Vernekar, Chief Information Officer, SBI Life Insurance and many more.

The 8th BFSI Leadership Summit garnered tremendous response from its esteemed partners: Silver Partners: VMware & WYSETEK; Digital Experience Partner: Liferay; Digital Transformation Partner: Alcatel-Lucent Enterprise; Telecommunication Partner: Smartping, Retention Partner: WebEngage; Associate Partner: SignDesk; and exhibitors of the summit are: Bahwan Cybertek; Temenos; Leegality, and X-Biz.

During the course of the day, the summit featured compelling tech presentations from our respected partners, highlighting their most recent breakthroughs and successes in the BFSI sector.

Utkarsh Gupta, Solution Architect, VMWare, stated, “The BFSI industry is undergoing significant disruption, primarily driven by shifts in customer behavior and demographics. Today substantial 80% of customers are inclined towards digital engagement and management of their financial matters. This represents a remarkable departure from the financial management practices of a decade ago. Today, consumers seek to handle their entire financial portfolio via mobile platforms, signifying a transformative change in the industry landscape.”

Sujit Shetty, Director – Channels & TSS (India & SA), Alcatel-Lucent Enterprise, said, “Over the past 10 to 15 years, the BFSI segment has undergone a substantial transformation. Viewing it from a global perspective, our presence spans across 130 countries, both directly and indirectly, offering a diverse range of solutions. Our headquarters are located in France, and our networking headquarters are based in Calabasas, US. These two strategic locations play a pivotal role in providing and conceptualising networking and communication solutions, while India significantly contributes as the largest contributor in this endeavour.”

In a grand celebration of excellence, Elets BFSI Leadership Awards were conferred upon the remarkable achievers. These esteemed awards are categories in: individuals and organizations category, for those who have set industry standards and demonstrated outstanding leadership, bringing the best practices to the forefront of the BFSI sector.

The awardees for individual category are: Basil Dange, CISO, Aditya Birla Mutual Fund, honored under the category- Cybersecurity Leadership; Preetam Biswas, Head of Analytics, Aditya Birla Health Insurance, under the category, Data Analytics Trailblazer; Mithilesh Singh, CISO, LIC, under the category- Outstanding Leadership in Cybersecurity; Shaik J Ahmed, VP, Head of Information Security – Risk and Governance, Mashreq bank, under the category: Outstanding Leadership in Cybersecurity (bank); Kanika Garg, Chief Product Officer, Tata Motors Finance, won the award for- Customer-Centric Product Innovation;

On the organizational front, the accolades included Credable, which bagged the award for Banking Technology for Supply Chain Financing; IndiaFirst Life Insurance for Excellence in Claim Management; HDFC Life Insurance as an Outstanding Innovator in Life Insurance; Avanse Financial Services as the Most Trusted Education Enabler NBFC; Ambit Finvest for being a Leader in Business Transformation; South Indian Bank for Excellent Cyber Security System.

By catalyzing partnerships, sparking innovation, and establishing new tech excellence standards, the Elets 8th BFSI Leadership Summit has made a lasting contribution to the future of the BFSI industry.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.