The Economic Times

BFSI Tech Leaders Summit

The banking industry is undergoing a radical shift, one driven by new competition from FinTechs, changing business models, mounting regulation and compliance pressures, and disruptive technologies.

The emergence of FinTech/non-bank startups is changing the competitive landscape in financial services, forcing traditional institutions to rethink the way they do business. As data breaches become prevalent and privacy concerns intensify, regulatory and compliance requirements become more restrictive as a result. And, if all of that wasn’t enough, customer demands are evolving as consumers seek round-the-clock personalized service.

These and other banking industry challenges can be resolved by the very technology that’s caused this disruption, but the transition from legacy systems to innovative solutions hasn’t always been an easy one. That said, banks, financial services institutions, insurance companies and fintech’s need to embrace digital transformation if they wish to not only survive but thrive in the current landscape.

Top 10 BFSI Industry Challenges

  • Increasing Competition
  • A Cultural Shift
  • Regulatory Compliance
  • Changing Business Models
  • Rising Expectations
  • Customer Retention
  • Outdated Mobile Experiences
  • Information Security/ Security Breaches
  • Antiquated Applications
  • Continuous Innovation

Parallel Tracks / Roundtables

INFORMATION SECURITY

TRUST OR ZERO TRUST: THE FUTURE OF IT SECURITY IN THE AGE OF A REMOTE WORKFORCE

Financial services firms are increasingly adopting cloud services that offer operational benefits like faster deployment and seamless scalability, while being incredibly cost-efficient and user-friendly. Understand if these measures taken come with serious security concerns and how they can be tackled in today’s work environment.

CYBER SECURITY

DIGITAL INTELLIGENCE & MODERN CYBERSECURITY STRATEGY – STOP THE FIRE BEFORE THEY START

Financial institutions have developed their IT security infrastructure ensuring compliance not only with regulatory guidelines for data protection and cyber security norms however today the need of the hour is to develop real-time fraud prevention models and awareness programs to increase customer confidence. Explore how a comprehensive cyber security framework can help reduce risk while automation and analytics can help make quicker decisions and reduce threats.

ROBOTIC PROCESS AUTOMATION

DRIVING BUSINESS TRANSFORMATION IN FINANCIAL SERVICES WITH ROBOTIC PROCESS AUTOMATION

Disruptive technologies are the largest drivers of change in business today and Banking & Financial Services were among the first adopters and benefiters of RPA. BFSI organizations are widely deploying RPA and AI to increase their productivity and efficiency. In a highly competitive BFSI market, it has become essential to increase the agility of work and deliver enhanced customer experience. RPA is a concrete solution that can efficiently manage operational challenges and adhere to regulatory compliance. Understand how automations are more resilient, easier to scale and not limited to legacy systems to explore the limitless possibilities and craft a strategy that will deliver end-to-end operational efficiency.

OPERATIONAL EXCELLENCE

DRIVING A NEW ERA OF OPERATIONAL EXCELLENCE IN FINANCIAL SERVICES

Combining flexibility, operational resilience and regulatory compliance is tough in the financial services sector and it has been made even harder by the COVID-19 crisis. It is a known fact that operationally strong financial institutions have the capability to outperform their peers.

Understand how digital workflows help boost productivity, reduce costs and build customer loyalty that are critical for the financial services sector.

CUSTOMER EXPERIENCE

TRANSFORMING CUSTOMER EXPERIENCE IN FINANCIAL SERVICES

In a post-COVID world, financial institutions have reinvented customer engagement with harmonized data, streamlined processes, and agile systems. They can acquire new customers and deepen existing relationships by predicting customer intent, offering self-service options, reducing friction in customer journeys, and augmenting agent capabilities. Understand how financial institutions can develop and deliver a seamless experience which is hyper personalized regardless of the channel through which they choose to interact.

CLOUD COMPUTING

TRANSFORMING CUSTOMER EXPERIENCE IN FINANCIAL SERVICES

In a post-COVID world, financial institutions have reinvented customer engagement with harmonized data, streamlined processes, and agile systems. They can acquire new customers and deepen existing relationships by predicting customer intent, offering self-service options, reducing friction in customer journeys, and augmenting agent capabilities. Understand how financial institutions can develop and deliver a seamless experience which is hyper personalized regardless of the channel through which they choose to interact.

DATA AND ANALYTICS

ALIGNING YOUR ANALYTICS STRATEGY TO BUSINESS OUTCOMES

When an effective company data strategy that is closely aligned with business strategy has been thoughtfully developed, the path to achieving business goals is illuminated with powerful insights. It is crucial for organizations to understand the need to treat data as “corporate asset” and maximize it as a source to benchmark and analyse their progress and core-competitiveness. Explore opportunities to have data drive analytics and new ways to optimize business processes, functions and models that can lead to fostering growth and market relevance.

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The Economic Times BFSI Tech Leaders Virtual Summit