Fintech has world following India: experts at international conclave

Kochi / December 18, 2024

Kochi, Dec 18: India's achievements in the fintech sector are way ahead of other countries, prompting them to follow the emerging Asian giant in the field backed by digital infrastructure, Money Conclave 2024 noted today.

Experts at the two-day conference termed the advent of IMPS technology facilitating instant fund transfer as a milestone in India’s fintech sector. The country’s achievements in digital infrastructure and fintech are “beyond the imagination” of other ‘developed’ nations, they noted at a panel discussion.

The hour-long session on ‘Indian Fintech: Evolution and FutureOutlook for Founders, Operators & Investors’, led by ZestMoney former CEO Lizzie Chapman, noted that the world realized the edge Indian had in fintech during the advances the country made at the start of the current decade amid the spread of the Covid-19pandemic and an ensuing shutdown.

Substantiating, NPCI Chief Business Officer Rahul Handa hailed the administration’s success in providing bank accounts to 80 crore people in “just eight years”.

Techfriar and Y Combinator (W19) FounderMadhavanRamakrishnansaid good infrastructure and people’s willingness to use it ushered in India’s success of the fintech sector. “The advent of artificial intelligencewill make it all the more easy for those with English, math and a little practical intelligence to build a fintech product in the next one-and-a-half years,” he said. “India's finance department is progressing in the global financial arena.”

Konglo Ventures Co-founder Vineet Mohan was the moderator of the session, which was followed by an equally engaging discussion on the role of sustainable wealth in the context of India's financial markets. This was attended by Villgro Innovation FoundationChief of Programs and Strategy AnanthAravamudan, Caspian Investments Director Emmanuel Murray, Bharat Innovation FundVenture PartnerHemendraMathur and Dr. MohdMerajInamdarof National Institute of Securities Markets, besides Funso founder ZeeshanNofil, who was the moderator.

Subsequently, NXG Markets CEO Sara Ahmadi, Delta Trading Academy General Manager John Joy Panackal and JNU Senior Research Fellow Abdul Latheef Sheikh spoke on the topic of ‘Stock Markets and International Markets’. Another panel discussion, on ‘Welath With Purpose: How to Align Your Finances Your Values and Lifestyle Goals, was attended by Bridgeway Group CEOJaber Abdul Wahab, Bramma Learning Solutions CEO A.R. Ranjith and Xpresso Global founder-CEO AfthabShoukath P.V.

Pitchathon, a pitching event, was also held for the ten selected startups. The winners will be given $10,000 in equity-free grant. Also, there is an ‘Ideathon’ that will facilitate students to qualify for a prize pool of Rs 1.25 lakh for innovative business ideas.

The summit, with about 10,000 delegates, features discussions on various topics including personal finance, sustainable investments, real estate, startups, fintech, and brand building. The participants include 40-plus speakers, more than 100 investors, venture capitalists, startups and stock traders.

The day-1 of the conclave hosted six sessions in all.

Ends