Mon Oct 8 HKT - Thu Oct 11 HKT (about 3 years ago)
In your timezone (EST): Mon Oct 8 12:00am - Thu Oct 11 12:00am
With a focus on customized B2B meetings for Fintech companies
Why India? Why now?
• Fastest growing Fintech market: The Indian Fintech sector has witnessed significant development in recent years. In 2017, India ranked second in the growth rate of Fintech adoption among digitally active consumers across the globe and offers the highest expected return on investment on Fintech projects at 29%. In the first half of the year, Fintech funding witnessed growth, receiving over USD 200 million.
• Large and diverse market: The Indian market is large enough for both traditional banks and Fintech players to benefit. Moreover, a diverse segmentation of consumer class based on geography, sector, income and demography creates a varied demand for Fintech solutions.
• Backing of key stakeholders: There is an acknowledgement of gaps and inefficiencies in the financial sector and that these gaps can be corrected / improved with technology. Relevant stakeholders such as the government, banks and corporates are very interested in benefits the Fintech sector could provide in correcting inefficiencies and bridging gaps.
• Collaboration seeking environment: In the current environment, existing players including banks, non-banking financial institutes, technology companies and start-ups have a favorable view of collaboration. Should opportunities for technology licensing or financial / strategic collaboration arise, they are open to evaluate them.
• Quick adaptation in the next 5-7 years: There is expected to be growth both on the demand side (existing users seeking new products and platforms and new users from unserved and underserved populations) as well as supply side (existing providers investing in innovation and new start-ups entering the ecosystem). A representative example is the payments story. Despite the largely untapped financial services market in India, first-time digital transaction users leapfrogged traditional payment modes (such as card payments) to new ones such as e-wallets and apps and will continue to do so.