Cedar-IBSi Digital Banking Summit

Sanjiv Anand, Chairman, Cedar-IBSi

Senior Partner, Cedar

In this session, we will consider how the Indian digital banking landscape is evolving along with society's broader digital transformation. From the rise of FinTech to integrating digital banking with other industries to open banking, we will explore the trends shaping the industry's future.

Despite a slowdown in investment activity, the global funding for FinTechs remained strong at USD 164 Bn in 2022. With nimble structures, FinTechs are leveraging cutting-edge technologies to better cater to fast-changing customer needs and preferences, which is fundamentally reshaping the banking landscape. How do investors identify promising FinTechs that have a high potential for success in the long run?

In this session, we will discuss the latest trends and predictions for the future of digital banking in India. We will also explore how adopting new technologies such as the Metaverse will shape the industry in the coming years.

Digitization and rapid internet adoption have enabled banks in India to reach unbanked rural areas in India, which were previously not viable to be served through physical branch networks. How can digital banking help bridge the urban-rural divide and promote financial inclusion in India?

Covid-19 was a major catalyst for digital merchant payments. Out of those who made digital merchant payments, two-thirds did so after the start of the pandemic. And the ease of e-transfers and QR codes for making payments is translating into an enthusiastic acceptance and usage of digital banking. How will payments continue to lead the charge for digital banking in the future?

Artificial Intelligence has a plethora of use cases that can help banks innovate and deliver superior customer and employee experience and introduce efficiencies previously thought impossible. Can day-to-day operational efficiency and performance be improved?

A strong ecosystem is necessary for Fintech innovations to take root and thrive. This ecosystem includes a range of factors, such as regulatory frameworks, access to funding, collaboration between Fintech startups and established financial institutions, and access to talent and expertise. What are some of the elements of this ecosystem that need to be strengthened in India?

Sanjiv Anand, Chairman, Cedar-IBSi