15th March 2019 : FinBox participated as the AI & Alternative data partner for 6th NBFC100 Tech Summit in New Delhi.

We were extremely excited to be the sponsors and to use this opportunity to interact with a rich and wide audience.

And…. the event turned out to be much much more.

Over 100 enthusiastic delegates participated in the event representing more

than 90 organizations. It was great interacting with such a wide

audience and and get reaction on our products.

We showcased the following products at the event —

1. Bank Statement Miner

2. Alternative Credit Scoring

3. Personal Finance Management SDK

Digitization of business and reimagination of customer experience emerged as the top

priority for the participating NBFCs regardless of nature of their

businesses and book size

NBFC’s determined push for digitization can be attributed to these three major reasons —

• Significant cut in costs

• Exponential reduction in fraud

• Customers’ demand to be served digitally

We got incredible response for our products, making our resolve to develop amazing products stronger with the valuable feedback.

The event witnessed exciting yet balanced participation from the regulators

(UIDAI, RBI, FIDC), thought leaders (FIDC, Sa-Dhan)and the industry

alike. The Industry representation was extremely diverse and the

included multitudes of visionaries from Micro-Finance, Housing Finance,

MSME Lending, Digital Lending , Peer-to-Peer Lending etc.

The highlights of the summit were the Key Note Speeches by imminent

regulators and thought leaders and 4 Panel Discussions by industry

stalwarts.

EVENTS

The summit hosted 4 keynote speakers and 4 panel discussions.

A speaker highlighted the rising importance of NBFCs addressing them as

the “Iron Man of the Indian Financial Services industry”. Formulating

and implementing compliance standards with urgency and developing an

incentive framework for compliant NBFCs were top recommendations.

Mr. Sudhir Sinha (CEO, UP Microfinance Association)

Speakers hailed the micro-finance NBFCs as the biggest financial inclusion

drivers. A speaker also highlighted the socio-economic impact of the

sector and credited micro-finance institutions with creating livelihood

for the under-served segments like rural women.

The summit consisted of 4 panel discussions.

Panel 1: Modifying Credit & Liquidity Risk Framework of NBFCs, MFIs & Housing Finance Companies and The Role of Regulatory Bodies

The panel agreed on the importance of the upcoming general elections on the

availability of liquidity while laying stress on the importance of

regulatory bodies in mitigating the impact of the global slowdown.

Panel 2: New Enterprise Technologies that NBFCs, MFI & HFCs would Like to Embrace Next Year

Panel was enthusiastic about exploiting technology to streamline high-cost

activities like Field Visits and Fraud Detection. Adopting Alternative

Data & AI was stressed upon for optimizing Risk Assessment,

Collections and Cross-Sell.

Anant (co-Founder & COO, FinBox) with Panel 3

Panel 3: Technology and its Importance in Curbing Fraudster Attacks in Non Banking Sector

While increasing digitization was supporting in curbing of fraud, the

panelists recognized the importance of artificial intelligence for fraud

reduction. The panelists acknowledged the difficulties in curbing

internal and employee-driven fraud and emphasized on the tightening

their checks and balances

Panel 4: Rising Significance of Digital Lending: Challenges and Opportunities

Panel appreciated the operational efficiencies originating from a digital

journey. Serving digitally allows lenders to profitably on-board the

bottom of the pyramid consumers and the long tail of the MSME segment.

To Conclude…..

FinBox thanks every delegate for making this event a success with their presence and for providing us with your valuable feedback.

A special shout out to the wonderful Speakers and Panelists, who took out

time to prepare and deliver such insightful speeches on the dias. They

highlighted the challenges and also proposed extremely accurate and

pin-pointed solutions.

Finally a ton of thanks to ELETS for superb organisation.

FinBox is an ISO27001 compliant leading risk and technology partner for

lenders who want to achieve financial inclusion with reduced risk and

maximum profitability.

If you are interested in boosting your lending operations with the power

of Alternative Data & AI or are looking for a discussion around

FinBox’s products, feel free to reach out at harsh@finbox.in