ET BFSI Innovation Tribe 2018: Technology should be harnessed for betterment of society, Deepak Kesarkar

While speaking at the inaugural edition of the Economic Times BFSI Innovation Tribe Awards & Summit 2018 at Hotel Sahar Star on September 18, Deepak Vasant Kesarkar, Minister of State for Finance, Rural Development, Government of India said that technology must always be used for the betterment of society, according to a media statement.

Disrupt, Develop, Demonstrate

The day long event, themed Disrupt, Develop, Demonstrate, was meant to bring innovation and banking leaders on one platform in order to brainstorm and deliberate the future given the current challenges and pressing issues of all time. With an judicious mix of panel discussions, keynotes, fireside chats, case studies, inclusive session and felicitations, the conference offered something for each of the participants.

The conference witnessed power packed panels and was an apt platform for networking and experiencing live interviews & global stories. The forum gave insight into new technologies and sparked conversations that made it possible to gain insight into the evolving marketplace, noted the statement.
Speaking on the occasion Chief Guest, Shri Deepak Vasant Kesarkar, Maharashtra’s Minister Of State-Finance, Rural Development, Government of India said, “Technology must always be used for the betterment of society. We cannot think about just urban India. Rural India, which comprises 80% of India’s land area, can use technology across farming, agricultural areas, horticulture and much more. For instance, connecting farmers in rural areas with consumers in urban areas will see both profit, and that is when technology will be at its most useful. We are looking to use technology to improve the lives of Indians across rural and urban India.”

Suniti Nanda, Fintech officer, Maharashtra Government, while speaking on the occasion, said, “When people are creating FinTech solutions, we’re not adopting them, there is a problem to be addressed. It’s very easy to say that this is an issue with the startups, but these are excuses and we need to see what the issue is and fix it. If you look at the number of startups shutting shop on a daily basis, it’s not a good sign. If we want to see India as a global innovator, we need to do more. That’s why the Government of Maharashtra has created a FinTech policy earlier this year.”

Mrutyunjay Mahapatra, DMD, SBI said, “When you reimagine digital, you reimagine with quick wins. Innovation happens in 4 ways, namely incremental, survival, catch-up and platform innovation. Reimagining digital with the Plug & Play approach is really important. Be passionate, process oriented and force the right partnerships.”

Deepak Sharma, Chief Digital Officer, Kotak Mahindra Bank said, “We all are increasingly realizing that we are in a consumer business. We cannot be in business if we do not keep consumer choices first. Equal importance is how financial service embraces empathy, and how we relocate consumer behaviour.”

Papia Sengupta, Executive Director, Bank of Baroda said, “Customer satisfaction cannot be underestimated. Do I have a common market place where I can get everything? Experience has to be standard across omni-channels. We do not need to reinvent the wheel again and again. The future is going to be all about it.”

Throwing his insights on analytics in banking, Goutam Chatterjee, Principal adviser, Department of Statistics & Information Management, RBI said, “In banking, the analytical data is centrally stored. We are working towards a system that will allow users to bring their own data, collectively analyze it and hence be able to find the solutions and realize the value of analytics.”

Deepak Lamba, President – Times Strategic Solutions, pointed out, “We are thrilled and happy at the fruitful completion of the event. Our networking sessions and the ever-popular gala reception ensured that audiences were able to expand their connections and discuss business opportunities at length.”

The evening also saw a host of companies receiving Innovation Tribe Awards in categories of Technology, BFSI and Startup. Companies receiving these awards included BankBazaar in Tech, State Bank Of India in BFSI ,In storied in Startup and more. Collaboration, cooperation, deliberation, and innovation is a must for sustaining the disruptive discourse of technology in BFSI Sector. The Economic Times BFSI Innovation Tribe Awards & Summit 2018 provided a unique opportunity and platform for the industry ecosystem to converge and chart the path of future growth.

The enlightened panel of speakers included Manor Alachua, CEO, American Express; Rakish Singh, CEO, Aditya Birla Finance; Sanjana Gupta, MD, PNB Housing Finance; Suresh Sethi’, CEO, India Post Payments Bank; Sorority Shame, CEO, DBS Bank; Seniti Nanda, Fitch Officer, Maharashtra Government; Baling Raj put, Superintendent of Police, Cyber Cell, Maharashtra Police; Madhivanan Balakrishnan, CTDO, ICICI Bank; Rajeev Ahuja, Executive Director, RBL Bank; MukulSachan, Co-Founder, Lendingkraft; Rajnish Khare, Head Digital – Banking, HDFC Bank; JitendraMahapatra, AVP & Head – Digital & Payments Analytics, Axis Bank; Puneet Kumar, Senior Executive Vice President, Kotak Mahindra Bank; Mrutunjay Mahapatra, DMD & CIO, State Bank of India; Deepak Sharma, Chief Digital Officer, Kotak Mahindra Bank; Papia Sengupta, Executive Director, Bank of Baroda; Devendra Kumar Vyas, CEO, Srei Equipment Finance; Nanda Sambrani, Head – ERCG, Reliance General Insurance; Rahul Chari, Founder & CTO, PhonePe; Sangram Singh, CEO, Freecharge; Ketan Patel, CEO, CASHe; Vivek Gupta, Country Head, R3; Raman Aggarwal, Chairman, FIDC; Y. S. Chakravarti, ED & COO, Shriram City Union Finance; Adv. Puneet Bhasin, Cyber Law Expert – Proprietor/Founder Cyberjure Legal Consulting, Amit Godhekar, VP – Cyber Security Motilal Oswal Financial Services; Deepak Sharma, Chief Digital Banking Officer, Kotak Mahindra Bank; Ratna Pawan, Security Risk HSBC Operations & Technologies, S. Sridharan, VP – CISO, NCDEX, Sanjay Sharma, MD Ayefin; and Sridhar Sidhu, Head – Enterprise Information Security Service & Regulatory Compliance Risk Services Groups Wells Fargo.

Times Strategic Solutions Ltd., functional under the brand name ET Edge, is an Economic Times initiative founded to empower multiple industries and segments by sharing critical business knowledge through strategic conferences and summits. Encompassing the Indian business vista, ET Edge strives to bring together visionaries and key leaders on its knowledge platforms to create social and business ecology conducive to the positive changes required by the industry. The main aim of this initiative is to channel global business intelligence through summits and conferences in overarching lectures, hands-on workshops, panels, roundtables and case studies.