The third edition of the Mint Mutual Fund Conclave is here. Some of the biggest names from the Mutual Fund Industry are coming together under one roof to discuss and debate the critical issues pertaining to the sector and chart a road map for the future.
The Event comprises of series of Two Panel discussions on the critical issues faced by the Mutual Fund Sector.
Panel Discussion 1:Challenges for the Status Quo: How Fund Managers are coping with increased volatility
Panelists:
Anoop Bhaskar, Head (equities):I.D.F.C.Asset Management Co. Ltd.
Anoop Bhaskar
Prashant Jain, Executive Director and Chief Investment Officer: HDFC Asset Management Co. Ltd.
Anoop Bhaskar
Santosh Das Kamath, Managing Director and Chief Investment Officer, Fixed Income India: Franklin Templeton Asset Management India Pvt. Ltd.
Anoop Bhaskar
Mahesh Patil, Co-Chief Investment Officer: Birla Sun Life Asset Management Co. Ltd.
Mahesh Patil
Shyam Sekhar, Founder: Ithought.
Shyam Sekhar
Moderator: Kayezad E. Adajania
Panel Discussion 2: New age Challenges to an Old Business
Panelists:
Leo Puri, Managing Director: UTI Asset Management Co. Pvt. Ltd.
Leo Puri
Milind Barve, Managing Director: HDFC Asset Management Co. Ltd.
2015 was a prelude to transformation in the lending, payments as well as personal finance space due to the pace at which financial technology companies emerged in India. The emergence of new technologies such as cloud-based systems and bio-metric recognition have changed the face of payments. Event the year 2016 continued with the same pace.
Mint put together a high-powered business conclave which brought together industry experts, regulators, FinTech, bureaucrats’ startups who discussed various issues that are an obstacle in building a favorable environment for the FinTech Industry.
V. Vaidyanathan, Founder and Chairman: Capital First
“As all of these are gradually moving to the E-World, the eco system is changing, new market flow is opening up, and new profit pools are opening up and with this context suddenly the game does open up for collaborations and not for confrontation.” - V. Vaidyanathan, Founder & Chairman, Capital First
India’s FinTech sector may be young but is on the rise rapidly, fueled by a large market base, an innovation-driven startup landscape, along with government policies and regulations. Several startups populate this emerging and dynamic sector, while both traditional banking institutions and non-banking financial companies are trying to catch up. The Opportunities and Challenges in the India FinTech stack was discussed in a presentation by Sharad Sharma from iSPIRIT.
Sharad Sharma, Co-Founder and Governing Council Member: iSPIRIT
“If there at all is a golden rule when it comes to banking then it is, Thou shall the bank, shall not debit my account without my permission” - Sharad Sharma Co-founder and Governing Council Member, iSPIRT
T.R. Ramachandran, Group Country Manager: India and South Asia at Visa
“One word which all of you will hear more and more and more and it’s important that you understand it is the notion of tokenization. This is one big thing changing payments without adding to the clumsiness.” - T.R. Ramachandran, Group Country Manager -India & South Asia at Visa
Financial technology has changed the way industry practitioners, consumers, and policymakers think about innovation in the financial sector. Blockchain technology is making financial transactions open and transparent, crypto currencies are changing the way we think about money, and real-time payments systems are slashing down the costs of credit inter-mediation. FinTech has offered an impressive array of opportunities for economic growth. The ways to Strike balance in Innovations and Regulations in the FinTech sector was discussed at Mint FinTech Summit in conversation with Lowell Campbell and Monish Shah.
In Conversation with Lowell Campbell and Monish Shah on FinTech: Balancing Innovations and Regulations
“People are trying to problem a solution rather than solution a problem.” - Lowell Campbell, Principal Global Specialist, Digital Financial Services, IFC (World Bank group)
“We have sent the customers into this big wide world, told them to go and transact somewhere over there and it’s not happening so well.” - Monish Shah, Partner, Deloitte
Kevin Wu, CTO: Data Center Solutions, South-East Asia, Huawei
“If you build a city as smart as possible, I guess the Financial Services actually cannot be left out.”- Kevin Wu, CTO, Data Center Solutions, South-East Asia, Huawei
The event even included an informative Panel discussion on Howto Spot and Nurture FinTech Startups with Bala Srinivasa, Nikhil Balaraman and Shailesh Lakhani as the panelists.
Panel Discussion on How to Spot and Nurture FinTech Startups with Bala Srinivasa, Nikhil Balaraman and Shailesh Lakhani as the panelists
“FinTech in India is pretty different. There’s a whole not to disrupt but there’s a whole lot to create. So I don’t view it as FinTech disruption, its more in terms of what can you create using technology.” - Bala Srinivasa, Partner, Kalaari Capital
“You’re dealing with someone else’s money, you’re not selling a product you’re selling a service where someone in the system, either a lender or a consumer in the case of wealth needs to trust you with their money.” - Nikhil Balaraman, Partner, Orios Ventures
“Regulations and new initiatives by government are both welcomed and feared at the same time.”- Shailesh Lakhani, Partner, Sequoia Ventures
Watch the events’ webcast where experts discussed on ‘Regulations that make it conducive for FinTech’ at Mint FinTech presented by Capital First which took place on 30th June, 2016 in Bangalore.
Know about the various startups showcased at Mint FinTech Summit 2016 by clicking at the following link:
According to a report on FinTech by KMPG, the transaction value for the Indian FinTech sector is anticipated to be approximately $33 billion in 2016 and is expected to reach $73 billion in 2020. The growth in smart phones and consumers’ willingness to transact online has spawned a large number of start-ups, who are trying to take advantage of this opportunity.
Here are a few other FinTech Startups from India that were showcased in the Mint FinTech Summit 2016:
ToneTag (Naffa Innovations Pvt Ltd)
ToneTag from the year 2013 provides an app that enables contactless payments on any device, bringing an Apple Pay like experience to millions of Indians, without having to add any infrastructure. This is by done using sound waves to enable proximity-based payments. ToneTag talks to a merchant’s point-of-sale system using encrypted sound waves, and works even with background noise. The system works well, even without mobile Internet. ToneTag offers a patent-pending software development kit that can be integrated into applications that would either accept payments based on tone, or based on near-field communication depending on the merchant.
ToneTag
Unocoin (Unocoin Technologies Pvt. Ltd)
Unocoin founded in the year 2013, operates a Bitcoin wallet that Indian users can use to sign up and buy or sell bitcoins. Unocoin has partnered with various companies around the world such as BTCjam, a peer-to-peer lending marketplace using bitcoins, and Purse, which helps translate Amazon gift card balances to bitcoin and rupees. It has also partnered with wallet provider MobiKwik and lets its users transact on MobiKwik with the help of bitcoins. It even launched a point-of-sale app for merchants to accept money through bitcoins.
Unocoin Technologies
SayPay Technologies Inc
SayPay Technologies, founded in 2013 is a biometric authentication provider that works on identifying customers uniquely based on biometrics like sound. SayPay Technologies users speak a one-time code instead of a password which is much more secure than the one-time-passwords that are in use. An entire transaction can be completed in seven seconds. The start-up, which has filed a patent for this technology, has partnered with two banks and is looking to partner with more. It says it can be extended to most financial transactions, including consumer bill payments, e-commerce, payment gateway integration, step-up authentication, P2P (peer-to-peer) transfers and corporate payment approvals. It works with both, feature phones as well as smartphones.
SayPay Technologies
Scripbox (Scripbox.com India Pvt. Ltd)
Scripbox started in the year 2012, offers an online mutual funds investment platform for individuals. When they sign up, individuals can decide how much they want to invest— be it monthly or long-term—in equities, debt fund and tax-savings fund or equity linked savings scheme. The funds presented to the users are chosen by algorithms and have no manual intervention. Scripbox doesn’t charge users but makes money by getting a distributor commission from asset management companies. However, it doesn’t have any tie-ups with them and takes the commission they hand out.
Scripbox
Senseforth (Senseforth Technologies Pvt. Ltd)
Senseforth started in 2012, offers an artificial intelligence platform that can offer all the services of a bank has over chat. The platform, called A.ware, has been bench-marked against various industry standards, and the start-up claims it performs better in most respects. Senseforth has at least 12 different bots that are capable to perform functions as varied as evaluating risks facing businesses and providing alerts to avoid adverse impact. It even helps the businesses comply with regulations, standards and governance-related issues, one that surfaces a business’ products and services where needed, as well as structuring personalized portfolios to your customers and advises on investment opportunities. It works with clients such as HDFC Bank Ltd and T-Mobile International AG.
Senseforth Technologies
Watch the events’ webcast where experts discussed on ‘Regulations that make it conducive for FinTech’ at Mint FinTech presented by Capital First which took place on 30th June, 2016 in Bangalore.
