New wave of technological innovations, popularly called “FinTech,” is accelerating radical transformation in the financial sector landscape. FinTech leverages the explosion of big data of individuals and firms, advances in Artificial Intelligence, Computing Capabilities, Robotic Process Automation (RPA), Distributed Ledgers and Cloud Technologies, Cryptography and many more disruptive innovations, which till recent years were hard to comprehend.
The strong complementarities among these technologies are creating space for an impressive array of new applications touching on services from payments to financing, better investment decisions through advanced analytics or reduced costs through improved post-trade processing platforms, asset management, insurance, regulatory oversight and audit and advice. Technological innovations are no more an option, it is imperative. The possibility now looms that entities driven by FinTech in India may emerge as competitive alternatives to traditional financial market participants, market architecture and infrastructures.
The Digital India has provided the desired impetus to FinTech, propelling the beneficiaries to develop and share knowledge resources for better digital data management to optimize their overall performance and contribution to various economic activities. It has opened a floodgate for FinTech Investments in India. Indian securities market has embraced FinTech in the market ecosystem which warrants creating linkages between Regulatory Sandboxes, ICOs (Initial Coin Offerings) and Digital Currencies. Given the emerging landscape created by FinTech in India, there are issues and concerns that need insightful deliberations by the domain experts.
This Conference is being jointly organized under the aegis of DEA-NIFM Research Programme, Department of Economic Affairs, Ministry of Finance, Government of India and by the Department of Management Studies, Indian Institute of Technology, Delhi.