We are witnessing myriad structural changes that are sweeping across the banking and financial services industry globally. From the 2008 banks freeze triggered by the collapse of gigantic institutions to the current Greece debt crisis, global economy is still reeling under the avalanche effects of the global credit and liquidity crises. This has resulted in near zero interest rates in the US and Europe, the rise of disruptive online peer-to-peer platforms to uproot the established order, and the revolutionary startups in global fintech capital London. Such changes compel us to view the financial services industry afresh and take stock of the future. Banking oligopolies are reinvesting profits into new technologies to respond to the challenges from the perfect Fintech Storm.
To a large extent, India avoided the problems faced by developed markets following the 2008 crisis. The absolute majority won by the NDA government in 2014 hustings gave the government a strong political will to make India a top destination for global investments. Digital India and Make-in-India initiatives spearheaded by Modi Government are adding morale and momentum to the galloping growth in the country. India has a well developed banking and financial services ecosystem and the mature consumer profile in India has spawned innovators in payments, peer to peer funding, microfinance – albeit many of them still in nascent stages. India has proactively solved even the Digital Identity problem with Aadhar & UID projects and is ready to welcome offshore innovation. The potential market is significant and may out-shadow many well developed western countries and warrants the attention of global new age Digital Banking & Payments and other Fintech firms. India welcomes you with open arms!
This era belongs to the confident Indian. Just as the abolition of License Raj, globalisation and privatisation led to India’s swift economic development in the past two decades, the open culture for collaboration with the west and exchange of technology and innovation will catapult India as a leader in the technology era too. Whilst India is adaptive and able to apply offshore technology to its unique problems and new uses, many recent financial sector inventions such as the Blockchain still beg to be adopted by Indian banks and entrepreneurs – to unleash the technology’s disruptive potential and its true magnitude of impact. Fintech Storm aims to bridge that gap!
London has established itself as the Global Fintech Capital with the most active investors, accelerators, innovation labs, incubators and a record number of disruptive startups based in London. In July 2015, UK Prime Minister set off on a trade mission to educate Asia on UK’s pre-eminence in Fintech. Mr Cameron highlighted that “over the next 20 years, 90% of global growth is expected to come from outside Europe and Britain must be poised to take advantage.” Fintech Storm Series is one of the key eco system builders in United Kingdom, having evangelised Fintech and its every vertical over the past year by featuring the hottest startups every month. Now we are targeting to connect the Indian fintech ecosystem with their counterparts in Europe, and target much larger growth prospects for all participants.
Europe is accomplished and ageing. India is young, hungry and restless. The West has a lot to learn from India on frugal innovation: not just cheaper, but better. The virtues of synergy when two able partners come together have been eloquently illustrated by none other than India’s power-lister, esteemed Union Cabinet Minister Mr Nitin Gadkari who will grace the conference with a keynote on “Why India is an attractive market“. In his words, if A produces A^2 and B produces B^2, (A+B) produces A^2 + B^2 + 2AB. So our quest is to bring Europe & India together in technology, innovation and entrepreneurship to produce the alpha or 2AB. Mr Gadkari, the master persuader would tell you that India has a lot to offer the world.
We at Fintech Storm have embarked on this ambitious mission of facilitating dialogue between Europe and India to catalyse innovation in sectors such as Banking, Payments, Financial services – but every epic journey has to start with one firm step!
India is open to business and keen to meet the best and brightest. So we are bringing some of the brightest minds from UK and Europe in the hope of setting off some sparks! We will make sure there are serendipitous meetings that will put many on the slope perhaps to their inflection points.
Come enjoy this electrifying meet and a sumptuous Lunch Gala!
We invite you to Indian hospitality this winter in the capital.
Blockchain India Summit
6th December 2016, 9am to 6pm
Future of Banking & Payments – Europe & India Conclave
8th December 2016, 9am to 6pm
Download Conference Brochure here