Moneycontrol Fintech Conclave 2024 Live Updates: Avoid chasing magic snake oil, assess risks before deciding, says Ananth Narayan

Moneycontrol Fintech Conclave 2024 Live Updates: Mintifi and Sarvagram founders on business resilience and funding

Anup Agarwal, co-founder and CEO of Mintifi, says, "A solid business with good governance and being well-regulated will always get rewarded in the market. Faff can take you only so far."

Utpal Isser, co-founder of Sarvagram, adds, "When it's winter in London, it's summer in California. There’s no such thing as a funding winter for good businesses."

Moneycontrol Fintech Conclave 2024 Live Updates: Elasticrun and Mintifi leaders discuss tech in lending and SME support

Sayali Karanjkar, Chief Business Officer at Elasticrun, says, "If we look at our consumer segment, we used tech to underwrite people who cannot be underwritten physically. This was the reason to use tech. The other reason was cost-efficiency—acquiring at a low cost and serving many more people in their own language."

Anup Agarwal, co-founder and CEO of Mintifi, adds, "There have been concerns around unsecured loans, but the regulator's support towards SME lending has been consistent throughout."

Moneycontrol Fintech Conclave 2024 Live Updates: Lending Realities - Sarvagram and Mintifi founders share insights

Utpal Isser, co-founder of Sarvagram, says, "Lending is difficult as it involves evaluating a person’s ability to pay. My previous boss used to say, 'Disbursement is an expense, and collection is revenue,' so it’s a challenging process."

Anup Agarwal, co-founder and CEO of Mintifi, adds, "Lending is a highly regulated system. Unless you follow the tight guidelines seriously, you won’t be able to succeed."

Moneycontrol Fintech Conclave 2024 Live Updates: Secured lending is key, regulators are on board, says Prithvi Chandrashekhar

Prithvi Chandrashekhar, CEO of Consumer Finance at Incred, states, "The key to navigating regulations or new rules is to stay engaged with the regulator (RBI) and speak with fellow operators." He adds, "There is a big opportunity in secured lending, and we are doubling down. It’s something regulators are also pushing."

Moneycontrol Fintech Conclave 2024 Live Updates: Regulations are far more important to be left with the regulators, says Ananth Narayan urging founders to become trusted advisors to regulators

Ananth Narayan emphasized the importance of direct communication with founders and industry leaders, encouraging them to act as trusted advisors and share their concerns directly with regulators rather than through the media. He stressed that regulations are best handled by regulators, and feedback from industry insiders is crucial for shaping effective policies.

Moneycontrol Fintech Conclave 2024 Live Updates: Our job as a regulator is to ensure that the capital formation cycle happens in a nice manner, says Sebi's Ananth Narayan

Speaking at Moneycontrol Fintech Conclave 2024, Ananth Narayan emphasized that the role of regulators is to ensure the capital formation process occurs smoothly. Allowing for certain errors goes against their mandate, and regulators must work to minimize both types of errors. This is achieved through thorough consultation, which is a fundamental part of their approach.

Moneycontrol Fintech Conclave 2024 Live Updates: House is loaded against you as a retail investor, the more you trade, the more you lose, says Sebi Ananth Narayan

Ananth Narayan noted that it is commonly said that the more retail investors trade, the less they typically earn. However, if investors are still willing to take the risk despite knowing this, they are free to do so, but should remain aware of the potential dangers.

Moneycontrol Fintech Conclave 2024 Live Updates: SEBI and NSE prepared to act on volatility issues, says Ananth Narayan

Ananth Narayan highlighted that both NSE and SEBI have robust surveillance systems in place to monitor volatility. He assured that appropriate actions will be taken if any issues arise.

Moneycontrol Fintech Conclave 2024 Live Updates: SEBI sees decline in notional value and stable premiums as positive signs for F&O

Ananth Narayan stated that SEBI aims to reduce the number of trades on expiry days, noting that a decrease in notional value is a positive sign. He also mentioned that the stability of premiums is encouraging. He emphasized that SEBI is focused on maintaining a healthy F&O market and is not in a rush to make any recalibrations at this stage

Moneycontrol Fintech Conclave 2024 Live Updates: Ananth Narayan clarifies SEBI's F&O regulation focused on managing expiry day overtrading

Speaking at the Moneycontrol Fintech Conclave, Ananth Narayan from SEBI clarified that the regulatory approach towards Futures and Options (F&O) and derivatives is part of an ongoing process. He emphasized that the goal was never to target F&O but to address excessive overtrading, particularly on expiry days.

Moneycontrol Fintech Conclave 2024 Live Updates: NSE operates as a precise system, ready for any challenges, says NSE's Ashishkumar Chauhan

Ashishkumar Chauhan, speaking at the Moneycontrol Fintech Conclave, described the NSE's role as central, with brokers operating on the periphery to assist investors. He emphasized that the organization runs with precision and is always prepared for unexpected challenges, likening it to managing a rickshaw that is ready for any sudden obstacles.

Moneycontrol Fintech Conclave 2024 Live Updates: NSE's founding was a response to broker-controlled exchanges post Harshad Mehta scam, says Ashishkumar Chauhan

Speaking at the Moneycontrol Fintech Conclave, Ashishkumar Chauhan of NSE highlighted that the National Stock Exchange (NSE) was established in response to the Harshad Mehta scam. He emphasized the need for exchanges to be run by professionals, rather than brokers, to ensure fairness and integrity in the market.

Moneycontrol Fintech Conclave 2024 Live Updates: Banks and fintechs engaging as banker-customer through API model, says YES Bank

Speaking at the Moneycontrol Fintech Conclave, Ajay Ranjan of YES Bank emphasized that the relationship between banks and fintechs is evolving into a more interactive dynamic, similar to that of a banker and a customer. This shift is exemplified by the implementation of the API ranking model.

Moneycontrol Fintech Conclave 2024 Live Updates: Working with fintechs is really nothing new for the banking industry, says HDFC's Parag Rao

Parag Rao of HDFC Bank, stated that collaborating with fintechs is not a new concept for the banking industry

Moneycontrol Fintech Conclave 2024 Live Updates: Financial infrastructure needs patience, collections space ready for Tech Innovation, says 3one4Capital's Nrutya Madappa

Speaking at the Moneycontrol Fintech Conclave, Nrutya of 3one4 Capital highlighted that financial infrastructure is a long-term game that demands patience. She expressed excitement about the collections space, which, despite being an overlooked field, has never been enhanced by technology until now.

Moneycontrol Fintech Conclave 2024 Live Updates: India has become a net exporter of fintech innovation, says M2P Fintech's Madhusudanan R

Speaking at the Moneycontrol Fintech Conclave, Madhusudanan R, founder and CEO of M2P Fintech, highlighted that India has made significant progress in payments, scaling up to offer a unified stack that can now be taken to other countries. He also mentioned that after a long time, India has become a net exporter of technology, with other markets looking to India for innovation.

Moneycontrol Fintech Conclave 2024 Live Updates: Aishwarya Jaishankar says credit line on UPI is hyperface's key focus for coming years

Speaking at the Moneycontrol Fintech Conclave, Aishwarya Jaishankar, co-founder and COO of Hyperface, stated that offering a credit line on UPI is their biggest bet for the upcoming years.

Moneycontrol Fintech Conclave 2024 Live Updates: KV Kamath's advice for entrepreneurs on dealing with change

Speaking at Moneycontrol Fintech Conclave, KV Kamath says entrepreneurs need to run much faster than you are doing today and be ready to upheaval. Maybe a larger proportion of younger people. Today technology is bringing transformative change, not incremental.

Moneycontrol Fintech Conclave 2024 Live Updates: Embracing change and merit-based growth essential for organizational success, says KV Kamath of Jio Financial Services

Speaking at the Moneycontrol Fintech Conclave, KV Kamath emphasized the importance of leadership that is forward-looking and focused on addressing constraints. He noted that their second-rung leadership was in their 30s and stressed the need for growth based on merit. Kamath also highlighted the importance of aligning human, technology, and strategic factors, and cautioned against conventional organizational structures, which he believes will eventually fail. He described organizations as living organisms that must grow healthily, with the ability to embrace change being key to success.

Moneycontrol Fintech Conclave 2024 Live Updates: Share of technology in GDP will grow in the next 5-7 years, KV Kamath

Speaking at the Moneycontrol Fintech Conclave, KV Kamath highlighted that while technology contributes 35% to GDP growth in China, it is less than 5% in India, with many contributions coming from traditional software services companies. He emphasized that new-age tech companies are just beginning to emerge in India and predicted that the share of technology in the country's GDP will grow significantly over the next 5-7 years. Kamath also stressed the need for new discovery-driven technology companies, not just consumer internet businesses.

Moneycontrol Fintech Conclave 2024 Live Updates: Fintechs are burning money without understanding when to stop, says KV Kamath

Speaking at the Moneycontrol Fintech Conclave, KV Kamath criticized fintechs for burning through money without a clear strategy for when to stop, pointing out that many lack an endgame. He noted that although fintechs are growing, they could have slowed down the burn while still achieving growth. Kamath also emphasized that fintechs often over-invest in engineering resources and need to focus more on understanding the business side of operations.

Moneycontrol Fintech Conclave 2024 Live Updates: Technology can transform SFBs into Neobanks, revolutionizing account activation, says KV Kamath

Speaking at the Moneycontrol Fintech Conclave, KV Kamath discussed the role of technology in setting up deposit banks, emphasizing that the decision lies with regulators. He pointed out that nothing prevents a Small Finance Bank (SFB) from transforming into a neobank, describing this as a "low-hanging fruit." He compared the process of opening and activating an account in large banks, which can take days, to the swift process in new-age banks in India, where an account can be opened in minutes and transactions can begin immediately.

Moneycontrol Fintech Conclave 2024 Live Updates: Every transformational organisation must embrace technology and transformation to drive change, says KV Kamath

Speaking at the Moneycontrol Fintech Conclave, KV Kamath emphasized the need for a CEO who can drive change, highlighting that banks still rely on 25-year-old systems. He pointed out that SaaS models can be integrated in just 30 days, stressing that with the right mindset, transformation is possible. Kamath stressed the importance of embedding technology into every aspect of the business, with everyone in a transformational organization understanding its implementation.

Moneycontrol Fintech Conclave 2024 Live Updates: Financial services must evolve to serve customers better amid changing dynamics, says KV Kamath

Speaking at the Moneycontrol Fintech Conclave, KV Kamath discussed the ongoing transformation in the financial sector, highlighting the shift in where public money is being invested. He noted that the dynamics of banks' CASA (Current Account Savings Account) are changing, signaling an ongoing shake-up. He stressed that businesses in financial services need to introspect and find ways to better serve customers, and emphasized the need for regulators to support scaling revenue.

Moneycontrol Fintech Conclave 2024 Live Updates: Convenience is king as broking, AMCs face disruption in evolving financial services, says KV Kamath

Speaking at the Moneycontrol Fintech Conclave, KV Kamath from Jio Financial Services emphasized that "convenience is king" and that companies cannot rely solely on trust and brand. He urged incumbents to move faster, stating that while broking has already been disrupted, the next sector to face disruption will be AMCs. He also pointed out that the revenue model of fintechs is currently constrained.

Moneycontrol Fintech Conclave 2024 Live Updates: R. Doraiswamy says LIC Sees Technology as a Catalyst to Strengthen Agency Force

R. Doraiswamy, MD of LIC, speaking at the Moneycontrol Fintech Conclave 2024, highlighted that LIC is an agency-driven business organization. He emphasized that technology is viewed as an enabler or catalyst to further strengthen their agency force.

Moneycontrol Fintech Conclave 2024 Live Updates: UPI app success is about market share, not just user count, says Billdesk's MN Srinivasu

Speaking at Moneycontrol Fintech Conclave 2024, Billdesk's MN Srinivasu stated that UPI apps are no longer used solely for functionality. He emphasized that all apps have now reached a high level of performance, and what truly matters is not the number of users, but the share each app holds in the market.

Moneycontrol Fintech Conclave 2024 Live Updates: Plans to expand Rupay system to more countries, including Qatar and UAE, says NPCI’s Ritesh Shukla

Speaking at Moneycontrol Fintech Conclave, Ritesh Shukla from NPCI shared that the organization is focusing on two key areas: helping other countries manage their sovereign payments and working with nations like Mauritius and UAE to implement systems like Rupay cards. He mentioned that once these systems are thriving, they plan to connect them with India. NPCI is collaborating with Indian banks and fintechs to create necessary modifications, and he expressed hope of going live in several other countries, including Qatar and other Middle Eastern nations, in the near future. If all goes well, NPCI expects to go live in three to four additional countries, potentially expanding to six.

Moneycontrol Fintech Conclave 2024 Live Updates: UPI ecosystem should have grown twice its current size, says Sharath Bulusu

Sharath Bulusu from Google Pay expressed the expectation of receiving clarity from NPCI regarding market cap. He described the current phase as exciting, noting that payment companies are not growing at the same rate as before. Despite the UPI ecosystem reaching 350 million, he believes it should have been twice that size by now.

Moneycontrol Fintech Conclave 2024 Live Updates: Shripal Shah says discount brokers will evolve towards right pricing with innovation

Shripal Shah stated that he doesn't believe the category of discount brokers will disappear. However, he noted that while discounted prices will remain, they will gradually shift towards more accurate pricing as innovation continues in the sector.

Moneycontrol Fintech Conclave 2024 Live Updates: Shripal Shah says ASBA implementation by Feb 1 will benefit customers

Shripal Shah stated that the regulation requiring ASBA implementation by February 1 is on track, and they are prepared to provide it by the deadline. The goal is to ensure that customers are aware of the brokerage fees they are paying to brokers, which he believes will ultimately benefit the customer and help scale up the market.

Moneycontrol Fintech Conclave 2024 Live Updates: Prabhakar Tiwari says broking is just one product, focus shifts to wealth management

Prabhakar Tiwari expressed his belief that there is no such thing as a "discount" in the market. He noted that the focus is shifting towards offering a variety of services, with broking now being just one aspect. Ultimately, he emphasized that the goal is to manage the wealth of customers.

Moneycontrol Fintech Conclave 2024 Live Updates: Open APIs and algorithm approvals key to fair retail participation in markets, says Sandeep Bhardwaj

Speaking at the Moneycontrol Fintech Conclave, Sandeep Bhardwaj, Chief Operating & Digital Officer at HDFC Securities, stated that providing consumers with open APIs is considered algorithmic trading. He highlighted that getting all algorithms approved by brokers is a cumbersome process. While this could lead to market consolidation, it would ensure fair participation for retail investors. However, he noted that significant work is still required to achieve this.

Moneycontrol Fintech Conclave 2024 Live Updates: Retail participation crucial for market liquidity amid volatility, says Prabhakar Tiwari

Prabhakar Tiwari emphasized that he doesn't see a reason for the regulator to completely eliminate weekly expiries. He argued that without retail participation, market liquidity would be lost, as institutional players alone cannot provide sufficient liquidity. While volatility may persist, he stressed that retail involvement is crucial for maintaining liquidity in the market.

Moneycontrol Fintech Conclave 2024 Live Updates: Retail misunderstanding of leverage impacted derivatives growth in India, says Ujjwal Jain

Ujjwal Jain, CEO of Share Market, stated that futures and options are excellent instruments, commonly used globally for hedging. While India began strong in this segment, he noted that as it matured, some gaps led to a misunderstanding among retail participants, particularly regarding the use of derivatives as leverage.

Moneycontrol Fintech Conclave 2024 Live Updates: HDFC Securities’ Sandeep Bhardwaj highlights challenges and optimism in derivatives market

Sandeep Bhardwaj, Chief Operating & Digital Officer at HDFC Securities, stated that as the consolidation of weekly expirations decreases and the bond size increases, it will reduce opportunities for participation. This, he noted, will likely lower both turnover and the chances to invest in derivatives. However, he emphasized that their role is to educate investors, and expressed optimism about the industry's future.

Moneycontrol Fintech Conclave 2024 Live Updates: Kotak Securities’ Shripal Shah acknowledges positive impact of F&O regulations

Shripal Shah, MD & CEO of Kotak Securities, noted that capital market participation has increased over the past five years, but emphasized the need for regulation in the F&O segment. He acknowledged that the regulatory measures implemented were necessary and have had the intended effect.

Moneycontrol Fintech Conclave 2024 Live Updates: Angel One's Prabhakar Tiwari sees bright future for F&O despite regulatory changes

The growth in F&O is phenomenal and the guardrails the regulator put in place were essential. In my mind, the impact of regulations is a matter of a couple of quarters but the pace in which new investors are coming in will cover up. I am hopeful of new innovations in place and that will come in, says Prabhakar Tiwari

Moneycontrol Fintech Conclave 2024 Live: How do we create a fintech ecosystem that's inclusive, secure and innovative?, says Nalin Mehta

"As we stand on the cusp of 2025. The questions we face are both exciting and critical for the industry. How do we build on this momentum? How do we create a fintech ecosystem that's inclusive, secure and innovative? We hope to answer these questions during this conclave," says Nalin Mehta, Managing Editor, Moneycontrol

Moneycontrol Fintech Conclave 2024 Live Updates: Nalin Mehta, Managing Editor, Moneycontrol delivers opening address at the conclave

--In the last 10 years, financial inclusion has gone from 20% to 80%

--Investments in the sector have risen to $31 billion

--Startups have grown by 500%

--We now have 500+ million Jan Dhan accounts

2024 has been a transformative year for fintechs and financial institutions. They are embracing emerging technologies like AI, pushing boundaries like never before as well as navigating regulations.

Moneycontrol Fintech Conclave 2024 Live Updates: Who are the speakers?

In exploring the rapidly evolving digital landscape, Parag Rao, Country Head of Payments Business, Consumer Finance, Digital Banking & Marketing at HDFC Bank; Ajay Rajan, Country Head for Government, Multinational & International Business at Yes Bank; Divya Sehgal, Partner at True North; KV Kamath, Chairman of Jio Financial Services; and Kunal Shah, Founder of CRED, will share their insights on the disruptive forces shaping fintech and discuss measures to prevent security breaches at the Moneycontrol event.

Moneycontrol Fintech Conclave 2024 Live Updates: Key industry leaders to discuss fintech’s future

The agenda includes discussions on key topics such as disruptions in broking, digital lending, the future of UPI, insurtech growth, and fintech infrastructure. Key sessions will explore the evolving partnership between fintechs and banks, MSME lending, building resilience in fintechs, and the balance between traditional and modern financial services. Industry leaders from Kotak Securities, HDFC Securities, NPCI, Google Pay, LIC, and others will participate. The event will conclude with a conversation on the regulatory perspective featuring Ananth Narayan from SEBI.

Moneycontrol Fintech Conclave 2024 Live Updates: Discussion on India's evolving financial landscape with the theme - Innovate, Transform & Regulate

The introduction of UPI nearly a decade ago provided a significant boost to digital payments and fintechs in India, achieving an impressive record of over 131 billion transactions in FY2023-24. Building on the success of its first edition, the Moneycontrol India Fintech Conclave 2024, themed "Innovate, Transform & Regulate," aims to spark a dynamic discussion on the country's evolving financial landscape.

Moneycontrol Fintech Conclave 2024 Live Updates: Exploring key dynamics shaping financial technology

The conclave aims to explore the key dynamics shaping financial technology, with a curated group of corporate leaders, policymakers, and technologists providing valuable insights on the subject.

Moneycontrol Fintech Conclave 2024 Live Updates: Stage set for second edition of Moneycontrol India Fintech Conclave

The Moneycontrol India Fintech Conclave 2024 will feature industry leaders, tech experts, and policymakers discussing how fintech is transforming the digital landscape and key factors for enhancing financial resilience.