CXO Diaries episode 2: The BFSI-fintech partnership to create better consumer experiences
Back in the day, traditional banks eyed fintechs as competitors, but today they see them as valuable partners to better engage with their customers. The pandemic has resulted in massive adoption of digital payments and today's consumer is enabled via mobile banking and digital wallets, right from essential purchases to executing financial transactions, from the safety and comfort of their homes. As the ecosystem evolves, the collaboration between banks and fintechs offers customers a simple and effective way to buy and subscribe to consumer products and services at the click of a button.
According to a report by PwC, 94 percent of financial services companies said they were confident that fintech would help to grow their company’s revenue over the next two years. That's a positive sign, but behind the scenes, the process is riddled with questions like the impact on the business models of banks, how to share data in an encrypted manner to avoid misuse, and so on.
To get the answers, tune into the second episode of CXO Diaries, hosted by and in association with YourStory. The series brings together top decision-makers from growth-stage companies and large enterprises in India who are building sustainable work cultures and scaling their companies.
Banks and fintechs can’t operate in silos
The episode, taking place on September 30, 2021 at 4 PM, will delve into the case of collaboration between the legacy BFSI and new-age fintechs.
To share valuable insights, the episode will feature global industry leaders such as K V Dipu, President - Operations & Customer Experience, Bajaj Allianz General Insurance; Ratan Kesh, EVP & Head - Retail Operations & Service, Axis Bank; Rameshwar Gupta, Chief Technology Officer, Freecharge; Rajesh Dangi, Chief Digital Officer, NxtGen, and will be moderated by Shivani Muthanna, Associate Producer, YourStory.
The panelists will delve into the following:
- Key innovations that will shape the future of the Indian financial industry
- Challenges BFSI is encountering as the recovery picks up steam
- Collaboration between banks and fintechs in a post-COVID world
- The shift to digital: engaging non-tech-savvy customers
- Tips to secure transactions and prevent fraud
Amidst these challenging times, these companies have managed to switch to digital assets without setbacks, launch contactless wearable payments devices, encourage millennials to get on board the credit wagon and help fintechs save recurring IT spends. Find out how they did all this seamlessly.
Also catch Pankaj Shukla, Director & Solution Engineering Leader, Enterprise Business for VMware India, talk about how to go about implementing a digital roadmap in the most effective way.
If you're a bank or a fintech considering a partnership, don't miss out on CXO Diaries episode 2. Watch it here.