Venue
Virtual Event

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Event Date Fri May 7 IST (6 months ago)
In your timezone (EDT): Thu May 6 11:30pm - Fri May 7 3:15am
Location Virtual Event
Region APAC
Details

Fintech has the potential to fundamentally transform the financial landscape by providing consumers with a greater variety of financial products by competing and complementing financial institutions. India along with China has the highest FinTech adoption rate globally of 87%, significantly higher than the global average rate of 64%. Fintech is disrupting and acting as a catalyst for financial and other business activities. For example, Google Pay with 41% market share in UPI payments processes approximately $260 bn payments on an annualized basis through UPI has embedded various on-line and off line merchants across food delivery, travel, groceries, shopping and digital gold categories. The app also has embedded pre-approved personal loans on the app through tie-ups with banks.

India is home to more than 2100 fintech startups. As per VCCEdge, fintech sector has recorded 661 private equity deals worth $8.3 bn from CY 2016-20. Payments and e-wallets received the highest funding of $4.2 mn across 185 deals.

Fintech firms are set to lead the way to amp up use of technology as digitization becomes the need of hour. The total IT spend by FinTech Industry is expected to be $132 mn in 2021, a growth of 9% from that of last year which was $121 mn, as per Edge Insights.

India is one of the fastest growing fintech markets in the world and has been very responsive to the change and the underlying situations. With approximately 22.7%, the fintech market in India is expected to reach INR 6.2 trillion by 2025. The industry is leveraging the smart technologies such as AI/ML, blockchain, IoT to increase the access of financial services to the low income or unbanked population and medium-sized enterprises (MSMEs). The sector is accelerating and enhancing financial inclusion. Increasing the financial inclusion directly contributes to GDP growth and creates more income and employment. For example, MSME digital lending could increase between 10 and 15 fold to reach INR 6-7 Lakh Crore in annual disbursements. Currently, MSMEs contribute to approximately 24.63% to the GDP from service activities and 33.4% to the total manufacturing output.

Speakers

2021 Speakers

Alok Mittal
Co-Founder & CEO, Indifi Technologies

Ravi Shankar
Co-founder and CEO, Active.ai

Gaurav Kumar
Founder and CEO, CredAvenue

Yogendra Kashyap
MD & CEO, RapiPay

Ashneer Grover
Co-founder & CEO, BharatPe

Yogi Sadana
CEO, CASHe

Mrutyunjay Mahapatra
Former MD & CEO, Syndicate Bank

Manu Monga
Senior Vice President - Digital Banking and Transformation, Axis Bank