These are crucial times for financial institutions. A volatile economic environment, disruptive innovations, new entrants to the marketplace and a changing regulatory landscape are all transforming traditional business models and creating a new playing field in the industry. Chaired by path breaking CEOs, disruptive founders and senior journalists, Fintech Storm Summits were conceptualized to connect the brightest minds across frontiers, enabling unique conversations that quench intellectual curiosity, stir debate, inspire and transform. Over 200 Indian industry leaders, policy makers, regulators and experts are gathering in Bengaluru at the Bengaluru Fintech Summit May 2019 to learn how Fintech firms could take advantage of emerging opportunities and trends worldwide.
Digital platforms are going to revolutionize the way we spend, consume, and live in the sharing economy of today. The leaders we have got together on 30-31 May are harbingers of the first wave of fintech disruption in India. - who are challenging traditional banks. These CEOs are reimagining finance and redefining banking of the future, and in the process threatening to eat the lunch of big banks - in the words of the CEO of the biggest bank J.P.Morgan. Come meet the daring visionaries for whom the word impossible means nothing!
Bengaluru Blockchain Summit on 31st May 2019 will host discussions on multiple themes to explore how India can leverage the distributed technology to solve our problems such as financial inclusion, micro payments , asset monitoring, subsidy distributions, license renewals, toll collections, friction less asset transfers, smart contracts, tokenizing of real assets, and tokenization of Securities and capital markets, stock exchanges.
India Funding Conclave on 30th May 2019 will host a Startup Swayamvar where selected startups will pitch for investment to select investors and funding sources: from VC firms, Angel investors, PE firms to crowdfunding platforms, banks, online lending platforms and NBFCs. Fintech Storm making the impossible possible - because, this is the era of democratization of knowledge, talent and ability to create wealth!
We are witnessing myriad structural changes in the banking and financial services industry that are sweeping across the world. Starting from the 2008 bank freeze and collapse of gigantic institutions triggered by credit and liquidity crisis leading to the current Greece crisis still reeling under the cascading effects, near zero interest rates in the US and Europe, the rise of disruptive online peer-to-peer platforms to uproot the established order, and the Fintech revolution in London - the changes compel us to view the financial services industry afresh and take stock of the future. Banking oligopolies are reinvesting profits into new technologies to respond to the provocations of the Fintech Storm.
Since times immemorial, India has been a rich cauldron of knowledge and resources - to give the world rich inventions such as mathematics and put satellites on Mars. India is a crucible of diversity that grooms its leaders through exposure to challenges of meeting the hopes and aspirations of pluralistic millions with different cultures, incomes, languages and talents. India's excellence in the pharma, IT and healthcare industries have put it on the global map. It's transportation, energy and food challenges are driving innovations such as lithium ion batteries, bio diesel, organically derived fertilizers. Indian leaders go on to head Fortune 100 companies, global MNCs, banks and most innovative tech companies such as Google - thanks to the world class education, and the exceptional management training provided by the IITs, IIMs, institutes of higher learning and the industry.
India is not only the fastest growing economy of the world and a huge market for goods, services and bold ideas , but also a sophisticated repertoire of talent, intellectual property, soft resources and research. India has emerged as the economy that ticks a rare and unique combination of features that will catapult it to super power status by 2050.
• Mega markets
• Cost efficiency platforms
• Innovation platforms
• Launch pads for new global competitors
• Demographic Dividend
• Ambitious adventurers or "young entrepreneurs"
India has it all! Any company that has global ambitions will ignore her at its own peril. This is India's moment under the sun to shine for all her unique strengths. The spirit of entrepreneurship; the optimism creed; innovation necessitated by varied needs of a heterogenous demographic; avante grade research led by its world class scholars, combined with the brilliance of its people - largely youth. India is a torchbearer along with China in the race of emerging economies to dominate global economic landscape.
By 2050 China, India, USA and EU will be the four economic blocks sharing global GDP. It is our destiny to be the super power! Startup India hosted by Department of Indian Policy & Promotion on 16th Jan 2016 in Delhi left an indelible impact on our young entrepreneurs, in whose capable hands lies the remote to India's inevitable ascent to a Global Tiger.
Several state governments have embraced Fintech as their engine for growth, and Govt of Andhra Pradesh, Govt of Telangana and Govt of Maharashtra have organized several state hosted fintech and blockchain summits. Now it is time for Govt of Karnataka to do the same and align itself with this growing industry.
The well-developed banking and financial services ecosystem and the mature consumer profile in India has spawned innovators in payments, peer to peer funding, microfinance - albeit many of them still in nascent stages. India is now busy creating the broadband infrastructure to reach the remotest citizen. We have proactively solved even the Digital Identity problem with Aadhar & UID projects and are ready to welcome offshore innovation. The potential market is significant and may out-shadow many well developed western countries and warrants the attention of global new age Digital Banking & Payments, Financial technology firms.
India's social entrepreneurs are leading the way in leveraging business solutions to solve world's problems. Even the giant philanthropists cannot effect an impact of magnitude they prefer, unless they make India their base. We want our youth to feel the confidence to aim for the stars. Our inspired youth will help us outpace China's 12 year lead in economic reforms with our unassailable lead in youthful energy.
Today India's average age is 24 vs China's 33. Our demographic dividend will multiply without needing any help!
Whilst India is adaptive and able to apply offshore technology to its unique problems and new uses, many financial sector inventions such as the Artificial Intelligence, Machine Learning, Deep learning, Robotics, Blockchain and Smart Contracts still beg to be adopted by Indian banks and entrepreneurs - to unleash the technology's disruptive potential and its true magnitude of impact.
We need a quantum leap! Fintech Storm is chipping in to aid the flight! We at Fintech Storm have embarked on this ambitious mission of catalyzing innovation in sectors such as Banking, Payments and financial services in India - but every epic journey has to start with one small step! We took that first step in Delhi in Dec 2015 with the gracious support of Shri Nitin Gadkari Ji.
We invite you to take part in the vibrant economy of India at the tech epicentre of India-Bengaluru.