3rd Edition of BankBazaar #Paperless Finance Conclave Successfully Executed by Brandwidth Events
by EVENTFAQS Bureau Industry Watch | October 29, 2018 | News
For the third consecutive year, BankBazaar, India’s leading financial Product marketplace, brought together regulatory luminaries, eminent bankers, and fintech influencers together on one single platform at the BankBazaar #Paperless Finance Conclave to give a shot in the arm to Paperless and Presence-less finance in India. Brandwidth successfully hosted the 2018 edition on September 11, 2018 at Taj Lands End, Mumbai which was attended by more than 200 renowned players from the Indian financial sector. The event was powered by ETNOW as the official broadcast partner.
The highlight of the event was government perspective on changing norms in the financial sector, touched upon by keynote speaker, S. S. Mundra, Former Deputy Governor, RBI, and special speaker Mr. Amitabh Kant, CEO, NITI Aayog, in their talks. The focus was on the need for consensus among Fintechs, Banks, Insurers, Regulators and the government for 100% Paperless and Presence-less finance in India.
In the inaugural talk, Adhil Shetty, CEO, BankBazaar, highlighted how 2018 has been the year of Paperless finance, marked by a surging demand for it versus the prevalent physical KYC on-boarding processes. According to him, the focus should move to presence-less finance now, and BankBazaar is all set to lead this wave of fintech innovation in India in 2019.
Commenting on the overall execution of the event, Varsha Sancheti, Senior Manager, Brandwidth said: “The task at hand was to create a better experience for the stakeholders, starting from the planning process to designing and then the actual execution. We took up the challenge to ensure that quality work delivered by the team in the first year get better thereby, strengthening our relationship with BankBazaar."
The two-panel discussions of the evening emphasized that the ability to authenticate identity on demand without a paper ID or physical presence was the real and most anticipated change for the near future, and deliberated on the challenges and opportunities ahead. The first panel “Paperless, Presence-less Finance: An Impending Reality” saw panelists discuss the advantages of paperless, presence-less banking to consumers and banks alike. The panelists included Puneet Nanda, Deputy Managing Director, ICICI Prudential Life Insurance; Arvind Kapil, Group Head – Unsecured Loans, Home and Mortgage Loans, HDFC Bank; Anup Bagchi, Executive Director, ICICI Bank; Ramakrishnan Seshan, Head, Retail Banking and Wealth Management, HSBC; Subrat Mohanty, COO, HDFC Life.
The second panel, “What Will It Take For 100% Paperless, Presence-less Finance and Greater Financial Inclusion To Become A Reality?” discussed current obstacles to the presence-less process and how support from regulators could help to realize this dream of frictionless finance. Ashish Ahuja, Joint Managing Partner, Wadia Ghandy and Co.; Rajiv Anand, Executive Director, Axis Bank; Shyamal Saxena, Head – Retail Banking, India, Standard Chartered Bank; Murlidhar Lakhara, Chief Compliance Officer, IndusInd Bank; Prasant Seth, General Manager, DBR, Reserve Bank of India; Sarita Kamath, Head – Legal and Compliance, Tata Capital; and Vineet Arora, MD and CEO, Aegon Life Insurance were the notable panellists.
"The entire Conclave was designed to make the event a seamless yet impact full experience. From registration management to creating a separate media room for the dignitaries to have spaces for one on one Media Interaction to creating the event flow in a manner to keep people engaged, Brandwidth ensured they go the extra mile and we are happy to have partnered with the team for the second year in a row", said Parul Shrivastava, AGM, Brand Marketing, BankBazaar.
The event concluded with the thought that, it is incumbent on all the allies – government, regulators, financial institutions, and Fintechs to work together and move this industry forward to presence-less, paperless issuance of financial products. The guests later proceeded for networking dinner.
Bank Bazaar India’s leading financial Product marketplace to be held at Taj Land End Mumbai on September 11.