From Inception to Innovation: Elets BFSI Leadership Summit Shaping the Tech-driven Transformation

From Inception to Innovation

The Elets BFSI Leadership Summit, an annual summit, organised by Elets Technomedia and The Banking & Finance Post, has been at the forefront of the BFSI sector s evolution for the last eight consecutive years. More than just an annual event, it s a catalyst fostering innovation, highlighting resilience, and charting the future of banking in India.

In an era where technology defines progress, this summit stands out by integrating IT innovations, such as Big Data and Cloud Computing, to address pressing industry challenges. The core objective of Elets BFSI Leadership summit is the collaboration between Government, Regulator, Banker, and Industry to drive growth and improve the financial experience for all.

Over the past editions, the summit has been a melting pot of transformative ideas, reshaping the BFSI landscape. With this cover story, we offer a concise overview of the summit’s legacy, emphasising its profound impact on India’s financial revolution. Through this journey, we will encapsulate the vibrant essence of India’s financial revolution, feeling the pulsating energy that has driven its growth. Dive in to understand more about this transformative journey.

Elets BFSI Leadership Summit, 2015: Laying the Foundation

Elets BFSI Leadership Summit, 2015

The debut of the Elets BFSI Leadership Summit was a great success by the collaborative effort by Elets Technomedia, The Banking & Finance Post, and the Department of Planning, Government of Maharashtra. On February 3rd, 2015, at Mumbai’s prestigious Vivanta by Taj – President, this summit marked a pivotal moment in the financial world.

The confluence addressed India’s BFSI sector’s transformation phase, with both the Government of India and the Reserve Bank of India working towards providing Banking and Financial services to every citizen. The Maharashtra Government committed to working closely with the Union Government to promote secure banking operations and robust payment systems through advanced technology, emphasising the expansion of Financial Inclusion.

The summit served as a platform for Governments, Regulators, Bankers, Insurance providers, Industry experts, and other key BFSI stakeholders to discuss transforming the BFSI sector using innovative solutions.

Elets 2nd BFSI Leadership Summit: Start of an Era

In 2016, the groundwork was laid for what would become an annual tradition with the inauguration of the BFSI Leadership Summit & Awards in 2015. The 2nd edition of Elets BFSI Leadership Summit featured some significant themes including:

Elets 2nd BFSI Leadership Summit

  • Technology Integration: Discussions focused on incorporating technology into traditional banking.
  • Financial Inclusion: Strategies were devised for extending financial services to underserved communities.
  • Regulatory Dynamics: The summit provided an in-depth examination of the evolving regulations in the BFSI sector.

With the rapid growth in mobile users and digital commerce at the time, there was an immense opportunity for leveraging technology to enable mobility-based financial transactions. The increasing use of the Internet and mobile money transfers was altering the way financial transactions were conducted, shaping the future of the industry

The 2nd Annual BFSI Leadership Summit & Awards, organised on 3rd June 2016, became the platform to discuss and plan the future for this sector full of burgeoning opportunities. Building on the success of the inaugural event, the summit united the four pillars of Indian Banking – the Government, Regulator, Banker, and Industry, on one platform to deliberate on the growth of the banking industry in India.

Elets 3rd BFSI Leadership Summit: Navigating the Technological Landscape

Elets Technomedia successfully hosted the 3rd edition of the Elets BFSI Leadership Summit on February 13th, 2019, in Mumbai. The event centered on the exciting changes brought by technology in the BFSI sector. The summit focused on important topics and ideas that are shaping the industry’s future, creating a meaningful conversation about how technology is transforming finance.

Elets 3rd BFSI Leadership Summit

  • AI and Blockchain: An exploration of these emerging technologies and their applications within the sector.
  • Cybersecurity: A critical dialogue took place on the need to secure digital platforms and protect customer data.
  • Customer-Centric Approach: Strategies were discussed for enhancing the customer experience through digital channels.

As India was evolving into a significant digital economy, particularly within banking and finance, the summit served as a timely platform for top industry leaders, bankers, and solution providers. Supported by the Finance Department, Government of Maharashtra, and organized by Elets Technomedia, the summit’s notable attendees included Rajagopal Devara from the Maharashtra government, Arijit Basu from State Bank of India, representatives from UIDAI, Bombay Stock Exchange, Transunion CIBIL, and others.

The congregation engaged in comprehensive discussions on various subjects such as Financial Inclusion through innovation, protecting mobile workforces, securing data, balancing innovation and legacy in NextGen Banking & Insurance, and delving into future technologies like AI, Machine Learning, Chatbots, IoT, and Blockchain. The importance of cybersecurity and risk management, prerequisites for online and offline transactions, and technology interventions in NBFCs, MFIs, and Housing Finance Companies were also discussed.

Elets 4th BFSI Leadership Summit, 2020 Edition: Adapting to a Changing World

The 4th edition of Elets BFSI Leadership Summit was successfully concluded on 27th February 2020 with a focus on the global challenges presented by the pandemic, making them central to the discussions. This edition convened Government officials, Regulators, Bankers, Insurance providers, and other key BFSI stakeholders. The main focus areas of the summit were:

  • Resilience and Agility: Participants discussed approaches to maintain operations in the volatile environment created by the pandemic.
  • Remote Working Solutions: Addressing the new normal of remote working within the BFSI sector was a key subject, reflecting the widespread shift to work-from-home arrangements.
  • Digital Banking: The summit also delved into the importance of leveraging digital channels to continue providing banking services during the challenging times.

The esteemed gathering served as a platform for comprehensive deliberations on the transformations occurring within the BFSI sector. The role of technology in these changes was recognized as pivotal, with a particular emphasis on aligning the transformations with various innovative initiatives launched by the Government of India. This summit showcased the industry’s adaptability and commitment to navigating the complex challenges posed by the global pandemic.

Elets 5th BFSI Leadership Summit: Technology-Driven Future

In a splendid showcase of industry prowess, the 5th edition of the BFSI Leadership Summit graced on 28th January 2021. This prestigious gathering threw a spotlight on the forthcoming landscape of the BFSI sector, molded by the COVID pandemic and the accompanying tides of technological transformation. Amidst an aura of anticipation, the summit’s focal discourse delved into the following pivotal themes:

  • Digital Payments: Participants gained insight into the evolving landscape of digital payment solutions, recognizing the growing importance of these technologies in the face of global challenges.
  • Financial Literacy: Efforts to educate the public about financial products and services were discussed, recognizing the need to empower citizens with knowledge in the new financial landscape.
  • FinTech Collaborations: The summit explored partnerships between traditional banks and emerging FinTech startups, reflecting an industry trend towards leveraging innovation and technology.

As the sector had undergone several challenges and deployed advanced technologies to maintain resilience during the pandemic, the summit underlined the need for innovative and robust strategies in 2021. The gathering emphasised the necessity to restrategise leadership across the spectrum, as the industry prepared for new challenges and opportunities in a world shaped by the pandemic and beyond. The summit served as a critical forum for discussing the future direction of the BFSI sector in a rapidly changing environment.

Elets 6th BFSI Leadership Summit: Global Perspectives

Amidst a backdrop of formidable trials triggered by the COVID pandemic, the grand stage was set for the much-awaited sixth edition of the BFSI Leadership Summit. This remarkable event, with its eyes set on a broader global vision, centered its theme around “Rebuilding Excellence in BFSI with Digital Resilience”. As the industry luminaries gathered, the summit’s pivotal discussions centered on the following critical aspects:

  • Financial Inclusion: Discussions were centered around global efforts to make financial services accessible to a broader population, recognizing the vital importance of inclusion in the modern financial landscape.
  • Digital Disruption: Participants explored how technology is fundamentally changing the way financial services are delivered, reflecting a global trend towards digital transformation.
  • Compliance and Ethics: The summit provided a comprehensive global outlook on regulatory compliance and ethical considerations, recognizing the complex interplay between innovation and governance.

During the uncertain times of the pandemic, the BFSI sector had to undergo a paradigm shift and deploy advanced technologies to maintain resilience. Digital banking emerged as a priority to ensure consumer demands were met and business continuity was maintained. The 6th BFSI Leadership Summit took place on 9-10 December 2021, underlined a wide range of topics related to the banking and financial industry, including strategies to navigate through the unique challenges presented by the global crisis. The edition served as an essential platform for international dialogue and collaboration, reflecting the sector’s commitment to innovation, ethics, and inclusivity.

Elets 7th BFSI Leadership Summit: The Road Ahead

The 7th edition Elets BFSI Leadership Summit, was the first “In-Person” event post-pandemic took place on 13th May 2022, in Mumbai, with a focus on shaping the post-pandemic world of the BFSI sector. Under the theme “Paving the Way for India;s Digital Banking Future,” the summit brought together top players in the Indian BFSI sector to explore the latest technologies and digital advancements. The main themes discussed were:

Elets 7th BFSI Leadership Summit

  • Sustainable Growth: Participants focused on aligning growth strategies with sustainability goals, recognizing the importance of balancing economic development with environmental and social considerations.
  • Digital Transformation: The summit emphasized embracing digital transformation as a permanent shift in the industry, reflecting the dramatic changes brought about by the pandemic and the new “socially distant” reality.
  • Collaborative Innovation: Encouraging collaboration across sectors was highlighted as a way to drive innovation and create a more robust, connected, and dynamic ecosystem that meets customers’ everchanging needs.

In recent years, digital innovation has become the driving force in banking and finance, affecting all major factors such as consumer convenience, accessibility, and system performance.

This latest edition underscored the challenges of real-time adoption, hyper customisation, and simplification of AI and Analytics, all aimed at building a long-term AI-powered sustainable banking ecosystem. The BFSI Leadership Summit 2022 provided an in-depth look into how banking, insurance, and other financial services companies in India were adapting to the rapidly evolving digital landscape. The event played a critical role in fostering dialogue, sharing insights, and charting a path for the future of the industry in the post-pandemic world.

Elets 8th BFSI Leadership Summit: Reinventing the Future of BFSI

In the rapidly changing landscape of today’s world, the BFSI sector stands at the cusp of an unprecedented transformation, fueled by digital advancements and shifting customer needs. The Elets 8th BFSI Leadership Summit, slated for 23rd August 2023 at Hotel Sahara Star, Vile Parle, Mumbai, is set to be India’s Biggest Banking & Finance Congregation, focusing on the exploration of the complex challenges and promising opportunities stemming from this digital metamorphosis.

Under the captivating theme of “Digital DNA – Reinventing BFSI for the Future,” this eminent summit will convene industry leaders, decision-makers, technocrats, and BFSI experts to engage in robust discussions, stimulating presentations, and insightful interactions.

The goal of the summit is to foster a deeper understanding of the present dynamics while charting innovative pathways for the future of the BFSI sector.

Welcoming a multifaceted audience actively engaged in shaping banking innovation across the region, the Elets 8th BFSI Leadership Summit promises to be a landmark event. Building on the success of previous editions, which have drawn over 800+ senior professionals from top banks, insurance companies, and various financial sectors, the upcoming summit is poised to be a vibrant hub of ideas, collaboration, and vision, setting the stage for the next era of BFSI excellence.

The Elets BFSI Leadership Summit has evolved into a significant event that charts the course of the BFSI industry. By focusing on diverse and dynamic themes from technological innovations to global challenges, each edition of the summit has successfully contributed to the growth, sustainability, and resilience of the sector.

These summits have become an essential platform for fostering innovation, sharing insights, and facilitating collaboration. They have helped shape policies, strategies, and practices, reflecting the complexity and interconnectedness of the modern financial landscape.

Looking forward, the Elets BFSI Leadership Summit continues to be a beacon for change and progress in the BFSI sector, ensuring that the allied industries are well-equipped to face future challenges and seize emerging opportunities. The summit’s ability to adapt and stay relevant ensures its position as an indispensable annual gathering for all stakeholders in the BFSI ecosystem.

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