Trescon organised its sixth edition of Big BFSI Future Tech Show & Awards in Mumbai, which was attended by more than 150 CIOs.
Of late, the Indian BFSI sector is passing through a phase of unprecedented transformation. Factors like addressing ever-growing customer expectations, continuous need for enhancing technological capabilities, obeying growing regulatory requirements, addressing the varied needs of different demographics, and the new turns of economics are compelling the BFSI managers to rethink and upgrade their traditional methods of operations with the aid of ultra-modern technologies that are now available in the country.
With a view to address all these, recently Trescon organised its 6th edition of Big BFSI Future Tech Show & Awards in Mumbai. The show concluded reaffirming the need for creating greater value for today’s well-informed and discerning customers.
Beside others, the event hosted more than 150 CIOs, IT leaders and business owners, who were exposed to the emerging global trends and ideas, through the presentations and talks of the international tech experts and technology innovators. In the programme, Trescon recognised 50 BFSI leaders along with 50 BFSI innovators for their outstanding contributions in the field through offering awards.
At the side of the main show, there was a nice exhibition, in which futuristic IT companies including: Neosoft Infotech, PFSI Solutions, Thales e-Security, Anaplan, Finesse IT Labs, Qualitia Software, Fujitsu India, DarkTrace, and Just Dispose demonstrated their latest offerings.
The event that started with a power networking session was well-designed to offer ample opportunity for peer interaction and discussion on the emerging technologies. In his welcome address, Mithun Shetty, Managing Director, Trescon said, “Getting ahead before the world wakes up has always been Trescon’s motto. Undoubtedly, the show today will have the ability to optimise business processes, create new services and ultimately generate new business opportunities.”
Future Technologies
The first panel discussion of the day under the title ‘Future technologies that will change the BFSI & NBFC landscape’ included discussions on: what can banks learn from other industries regarding their digital transformation journey?; How are AI (Artificial Intelligence), Machine Learning, Chat Bots & Robo Advisers currently being used and where could it go in the future?; How to create competitive advantages through the use of Blockchain, RPA and Smart Contracts?; How Big Data can help in accelerating growth, even in anaemic environment?; and How to leverage Cloud for the BFSI sector and transform business?
Rohit Kilam, Head Technology, Digital, Aditya Birla Finance, moderated the panel discussion which had eminent panellists like Dipu KV, President & Head of Operations – India, Bajaj Allianz General Insurance; Ajay Bohora, Co-Founder & MD, HDFC Credila; Yusuf Roopawalla, Head Technology – Program & Change Management, Standard Chartered Bank; and Sameer Saurabbh, CTO, HDFC Securities.
Customer Experience
The topic of the second panel discussion was ‘The importance of customer experience in BFSI and NBFC sectors.’ There the discussion continued on topics, such as – What is really happening across every step in the customer journey?; How to optimise customer experience through digital experimentation?; How to use identity data intelligently to improve customer experience?; and What is RPA’s (Robotic Process Automation’s) impact on the banking industry’s CX (Customer Experience) challenges?
The discussion was moderated by Prasanna Lohar, Chief Innovation Officer, DCB Bank; and the panel consisted of experienced professionals like Nikhil Bandi, CIO & Head Operations, Vistaar Financial Services; Jyothirlatha B, CTO, DHFL; Abhijit Shah, CTO, DCB Bank; Srinivasarao Muppaneni, Group CIO, AP & Telangana State Cooperative Banks; Manoj Mauni, Vice President – IT, Kotak Mahindra Bank; and Dr Suresh A Shan, Head – Digital Innovation & Future Technology, Mahindra & Mahindra Financial Services Sector.
Security Issues
‘The importance of having resilient network security, data security and IoT security for the BFSI and NBFC sectors’ was the topic taken up for the third panel discussion, which was moderated by Avez Sayed, Senior AVP Risk Management & CISO, ICICI Lombard General Insurance. Renowned field experts included in the panel were: Amit Jaokar, EVP – IT, Choice International; Kersi Tavadia, CIO, BSE; Anuprita Daga, CISO, Reliance Capital; Dominic Vijay Kumar, AVP & Head IT, ART Affordable Housing Finance; Shashank Bajpai, CISO, ACKO General Insurance; and Rupesh Kumar Srivastava, Associate Director, Enterprise Risk (IT & IS), IDFC Bank.
The panel highlighted several emerging security issues and examined the possible solutions. Some of the important areas that they touched upon were protection against malware attacks, fraud and breaches; IoT security framework and its concerns; and the challenges in implementing cloud computing.
Technology Highlights
Representatives from several technology companies made some insightful presentations in the event. Rakesh Meher, Segment Leader (Unified Governance & Integration), IBM, explained how banks can use advanced analytics to provide faster and more accurate responses to regulatory requests and give teams analytics-enhanced decision support. Mehul Doshi, Head of Products (India), Fujitsu India, delivered his talk on the impact of AI (Artificial Intelligence) on future banking.
Apurva Jain, Cyber Security Account Manager, Darktrace, drew attention on the enterprise immune system technology. Rakesh Agarwal, Director – EPM & Analytics (APAC), Enquero, highlighted the ways of transforming the digital revolution. Maitreya Parikh, Senior Manager, Territory Sales – BFSI, India, Thales e-Security, pointed out the importance of securing the digital transformation. Rahul Chaudhari, CEO and Founder, Qualitia, spoke on the advantages of script-less test automation platform.
Attendees’ Testimonials
Nitant Desai, Chief Centralised Operations and Technology Officer, PNB Housing, informed, “The event was a very good platform for all IT luminaries from the BFSI space to come together, exchange views and discuss the future direction of technologies for the sector. I feel this networking will help me and others prepare ourselves for the next technology disruption – that may be knocking our doors.”
S Sridharan, CISO, National Commodity & Derivative Exchange, commented, “I came here to learn about the latest threats for the BFSI sector and their solutions. After coming here, I found that all the topics are my favourite ones. Especially, the topics like – artificial intelligence and machine learning were quite interesting for me. According to my knowledge, this is the only conference, which dealt with customer satisfaction. So obviously, it was worth attending this conference.”
