Technology today is a value lever to traverse the BFSI growth trajectory. Emerging technologies have completely changed the way traditional banking is done, or customers are serviced. The bricks and mortar branch model of financial institutions is gradually being replaced by various forms of information and communications technology (ICT)-based models. Emerging technologies have completely changed the way traditional banking is done, or customers are serviced. Paper-based forms are slowly giving away to online forms, with customers preferring to bank online than visit a physical branch.
The need for embracing new platforms is also due to the immense pressure that firms in the BFSI sector are facing from young customers. Continued technology innovations, social media and smart phones are changing the entire BFSI landscape. The firms in the BFSI sector are confronted with many concerns and Financial Technology Summit 2014 helps to address the reason for changing customer behavior, the new role of banks and insurance companies, the new trend of disappearing cheques and mobile phones replacing the wallet.
As always, FTS 2014 will see participation from some of the top business leaders in the BFSI domain, and will focus on topics that capture some of the latest technology trends that are shaping the business agenda and competitiveness of enterprises.