The 5th Elets BFSI Gamechanger Summit & Awards, held from August 8th to 11th, concluded successfully at Radisson Blu Resort, Cavelossim Beach, Goa. As India’s premier BFSI gathering, it attracted key stakeholders and featured dynamic discussions on advancing financial institutions through novel strategies and alliances.
Over four days, the summit offered enriching keynote addresses, panel discussions, interactive sessions, and networking opportunities, complemented by entertainment activities. Key highlights included the prestigious Elets BFSI 100 Gamechanger Awards, celebrating industry pioneers and their innovations.
The Golden Jubilee Edition of The Banking & Finance Post Magazine was also launched, marking a milestone in the publication’s history and celebrating innovations in banking and finance.
Dr. Ravi Gupta, Founder & CEO of Elets Technomedia and Editor-in-Chief of The Banking & Finance Post Magazine, delivered the welcome address, emphasising the significance of the summit. Reflecting on the journey, Dr. Gupta stated, “When IT adoption was in its nascent stage in India, we launched platforms to accelerate technology-driven initiatives across various sectors. The BFSI magazine, rooted in the financial inclusion movement, has since played a crucial role in driving dialogue and innovation in the banking sector.”
The summit featured insightful discussions that delved deeply into the government sector’s perspective on India’s financial landscape.
Manisha Verma, IAS, Additional Chief Secretary & MD of Maharashtra State Financial Corporation, highlighted the transformative journey of India’s digital infrastructure since 2015. She emphasised the role of India Stack—including Aadhaar, UPI, the Account Aggregator framework, and DigiLocker—in driving digital services and financial inclusion. “Aadhaar’s vast reach, UPI’s transactional volume, and the Pradhan Mantri Jan Dhan Yojana (PMJDY) have significantly expanded access to banking services,” Manisha said.
Reflecting on India’s legacy from ancient innovations to modern advancements, Dr. Rabindra Narayan Behera, Member of Parliament for Jajpur Lok Sabha Constituency, Odisha, emphasised India’s significant role in driving technological progress and financial inclusion on a global scale. “Our financial system has expanded and become more inclusive, and innovations like UPI have revolutionised digital transactions, earning global recognition as a game-changer in the digital economy. India’s mark on the technology-driven world is undeniable and enduring,” he said.
In his keynote address, Sumnesh Joshi, Deputy Director General, Ministry of Communications, Government of India, spoke about India’s ambition to become the world’s third-largest economy by 2032. Highlighting the country’s rapid digital transformation, he said, “Our digital infrastructure surpasses that of many developed nations, reaching even the most remote corners of the country. India has become a very well-connected country, and we are all set to realise the dream of making India the third-largest economy of the world.”
Hyper-Personalisation in BFSI
At the summit, the discussion on hyper-personalisation in BFSI highlighted its significant impact on customer experiences and operational efficiency.
Swaminathan Krishnamoorthy, Chief Digital Officer, ESAF Small Finance Bank, said, “Hyper-personalisation reduces operational friction and costs by enhancing customer-centric products and experiences, benefiting both banks and their clients.”
Tejasvi Addagada, Senior Vice President, Head- Enterprise, Data Management, Data Office, HDFC Bank, highlighted the role of data in delivery personlised experience. “Our data transformation focuses on customer experience, digital innovation, and personalisation, ensuring accurate and consistent data to enhance communication and experience,” Tejasvi said.
Elaborating on the use of historical data to shift from product-centric to customer-centric strategies, Paritosh Vatsal Tripathi, Founding Member & EIR, Signzy, said, “Hyper-personalisation involves engaging deeply with customers and guiding them through their journey, leveraging historical data to shift from product-centric to customer-centric strategies.”
Financial Resilience and Cybersecurity
The discussion on financial resilience and cybersecurity at the summit addressed the increasing complexity of cyber threats and the critical need for robust security measures.
Dhiraj Ranka, CISO at Tata AIG General Insurance, highlighted the imporatnace of balance between proactive and reactive security measures.
Vivek Shankar, CITSO at Max Life Insurance, discussed the importance of having a well-tested incident response plan. “If an attacker succeeds and an incident occurs, swift recovery relies on a few key components. Every organisation should have an incident response plan in place, recognizing that the weakest link is often human error,” he said.
Emerging Tech Like AI & Customer Experience
The summit featured engaging discussions on the critical topic of emerging technologies like AI and their impact on customer experience in the BFSI sector. Experts emphasized the necessity of a robust AI strategy, quality data, and the integration of cutting-edge technologies like GenAI and blockchain to enhance customer personalisation, trust, and operational efficiency. The dialogue highlighted how AI-powered solutions are enhancing customer interactions, ensuring secure credit access, and optimizing the modern customer journey by leveraging advanced communication tools and data-driven insights.
Gaurav Garg, Director – Business & Customer, BlinkX by JM Financial, discussed the role of AI and ML in the future of BFSI. “AI-powered algorithms will analyse vast amounts of customer data, unlocking hyper-personalisation and empowering clients to make smarter, more informed decisions. This will lead to greater customer satisfaction and help them achieve their investment goals with ease.”
Prashant Choudhari, Head – Marketing, Fino Payments Bank, spoke on optimising the modern customer journey through personalisation and transparency. “Optimising the modern customer journey means embracing personalisation and transparency. By adopting an opt-in model and leveraging zero-party data, we can empower customers, enhance their experience, and build trust in a landscape where emotions often lead.”
The 5th Elets BFSI Gamechanger Summit & Awards brought together an impressive array of industry leaders and partners, including Presenting Partner Mitel and Exato.ai; Co-presenting Partner: Lumiq; Digital Adoption Partner: Whatfix; Communication Partner: Onextel; Digital Customer Partner, In10s; Intelligent Automation Partner: Nividous; Document Execution Partner: Leegality; Digital Onboarding Partner: Signzy; Innovation Partner: CoffeeBeans; OTP-Less Authentication Partner: Odyssey; Secure CaaS Partner: Mtalkz, and Associate Partners: Veup; Cartel Infosystems and Digit Insurance.
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