Overview

BFSI stands for the Banking, Financial Services, and Insurance sector. Fundamentally, it represents a major portion of the multi-billion-dollar Indian economy comprising all Banking, Insurance, and Non-Banking Financial Institutions. The latter is known as the NBFCs. Also, the BFSI industry largely refers to financial service firms such as Broking, and Asset Management.

India, as a business destination, fosters all the positives for the BFSI sector to flourish at an appreciable pace. Inter-dependent factors of government policy, active public/private involvement, robust regulatory measures, and technological evolution have spurred the BFSI sector to register strong numbers in recent years.

Data at the centre

Data, undeniably, is everywhere – and day after day, as the digital world transforms more human actions into data-generating experiences, its volume continues to grow. In fact, by 2025, data-driven interactions will reach 4,785 per person per day, as the global “datasphere” grows to 163 zettabytes.

All that data represents a massive opportunity for financial services organizations. Intelligence. Optimization. Innovation. Revenue. Expansion. Risk Management. And competitive edge. So where do data-driven insights have the most impact? And what types of benefits can you expect to see?

Introducing The Data Sessions – Accelerating Business value through data and analytics

Forbes’ David Kirkpatrick famously claimed, “Now every company is a software company.” The same thing has become true of data: Every company is now a data company, too. That’s because insights from analytics have become an essential driver of innovation, optimization, and competitive edge.

The financial services industry has embraced the opportunity. Across the globe, retail banks, investment banks, brokers, exchanges, wealth managers, insurers, fintech companies – even central banks and regulators – are using data analytics to radically transform their organizations. And the gains they’re seeing are remarkable.

Abhay Johorey
Digital Strategy
ICICI Bank

Chakrareddy Gampala
Head of Digital and Analytics
Tata AIG General Insurance

Francis Rodrigues
Sr. VP – Business Insights
HDFC Life

Nilesh Kulkarni
Senior Manager, Pre-Sales
Qlik India

Rukesh Patel
CTO – Credit
Edelweiss Financial Services

Sanjivan Shirke
Sr. Vice President
UTI Asset Management Company Limited

Soujanya Aluri
Head of Data and Analytics
National Payments Corporation Of India