The third edition of Digital Fifth’s Bharat Fintech Summit is scheduled to take place on the 5th and 6th of February 2025 in Mumbai, Maharashtra. The summit will focus on the theme 'navigating the next wave of digital finance' and is expected to attract over 4,000 attendees, including C-suite executives, industry leaders, policymakers, and fintech enthusiasts.
Key topics for discussion at the summit will include various aspects of financial services such as unsecured credit, collections, customer acquisition, fraud prevention, real-time payments, cross-border remittances, digital transformation, and inclusion. In addition to these subjects, the agenda will examine the role of artificial intelligence in the banking, financial services, and insurance (BFSI) sectors, as well as data protection, trade finance, and unified lending interfaces (ULI). Other notable subjects include streamlining financial operations, globalising the Unified Payments Interface (UPI), the implications of Central Bank Digital Currency (CBDC), and the future of digital public infrastructure.
The summit is designed to serve as a pivotal platform for collaboration among fintechs, banks, and regulatory authorities, fostering innovation and shaping the future of digital finance in India. Organisers have planned an extensive schedule featuring 250 speakers, over 48 panel discussions, more than 20 hands-on workshops, 15 live demonstrations, and curated networking events that aim to enhance participants’ understanding of the evolving fintech landscape.
Sameer Singh Jaini, the Founder of Digital Fifth, articulated the summit's goal, stating, “We seek to empower each participant with valuable insights and knowledge, to be able to reap the benefits of the evolving fintech market in India. We aspire to pave the way for the extensive dissemination of digital financial services to even the remotest corners, ensuring that the benefits of the digital revolution reach the farthest segments of our society.”
According to industry reports, the fintech market in India is projected to reach a valuation of $1 trillion by 2030, bolstered by a significant surge in digital payments and lending activities. Presently, India hosts over 2,000 fintech startups, positioning the nation among the top three global fintech ecosystems. Annual transactions in the digital payments sector are predicted to surpass $10 trillion, while other segments such as insuretech, regtech, and wealthtech are anticipated to experience rapid growth.
The year 2024 has been noteworthy for the fintech industry in India, with many startups reaching profitability and robust mergers and acquisitions (M&A) activity contributing to increased market confidence. Traditional banks and non-banking financial companies (NBFCs) have accelerated their digital transformation efforts, highlighting the growing need for partnerships between fintech firms and these financial institutions. The establishment of clear regulatory frameworks has helped protect customer interests, support innovation, and rejuvenate investor confidence, leading to a renewed flow of funds into scalable and impactful business models.
Looking ahead to 2025, significant advancements are expected within the Indian fintech sector, particularly in secured credit and digital lending. Financial institutions are likely to embrace technology to enhance credit accessibility, and there will be an increased emphasis on data protection compliance, especially regarding Digital Personal Data Protection (DPDP) norms. The adoption of tools for fraud prevention and anti-money laundering (AML) measures is also anticipated to rise as businesses enhance their security frameworks.
For further details about the Bharat Fintech Summit, additional information can be accessed through their official website.
Source: Noah Wire Services