Pune, India, January 23, 2017 --(PR.com
)-- Financial Technology also known as Fintech is a term used for companies that use technology to innovate in the Financial Services sector, including innovations in retail banking, investment banking, education, financial literacy and even crypto-currencies like bitcoin. The value of global FinTech investment in 2015 grew by 75% to $22.3 billion, driven by deal-flow across continental Europe and Asia-Pacific. In 2016 Asia is on track for a record breaking year for VC investment in FinTech, with it being the only region to experience a growth in investment in the third quarter of this year. Asian FinTech startups saw funding total $1.2B in Q3’16, an increase of 50% from Q2’16. Given Asia's rich technology ecosystem, rapid economic growth trajectory and growing middle class, the region is tipped for major digital growth.
On 19th November, some formidable captains from the FinTech space assembled at Westin, Pune for the Agile Fest 2016 - a day long event organized by FinTech Thought Leaders. This was the first event which brought industry leaders from established banks, start ups and academia across the business, technology and management space on one platform in Pune.
The event was inaugurated by the Mayor of Pune, Honourable Mr. Prashant Jagtap, The IB Head for Barclays India, Mr. Manoj Kulkarni, the Group Head of Payments Transaction Services, Operations and Technology at MasterCard India, Mr. Ramesh Mirakhur, Mr. Ajay Vishampayan, Director of Software Engineering at ACI a product company, Aniruddha Paranjape Co-Founder of startup – Kanaka, Mr. Tanveer Patel, serial entrepreneur and founder of start-up BlueBenz Digitizations, Mr. Marcus Hough – Barclays, Head of Compliance India Technology, Mr. Simon Dewberry - Head of Fund Transfer Pricing Development at Barclays, Mr Himanshu Warudkar Program Director - Rise Mumbai and Mr. Atul Patil, Co-Founder of FinTech Thought Leaders, amongst other guests representing a broad spectrum of leadership across the FinTech space. The event was packed with over 200 participants from over 30 organizations, including Barclays, Citibank, Master Card, Credit Suisse, Mastek, Oracle and a host of small and medium start-ups based in Pune and Mumbai.
FinTech Thought Leaders (FTTL) is a community formed by individuals from the FinTech space, who felt that there was a need for a platform for practitioners from this industry to get together and share their experiences and talk about the innovative work they are doing. The platform will enable the practitioners in this space understand the common challenges the industry faces, drive innovation and nurture leaders who are willing to think out of the box.
As part of this initiative FinTech Thought Leaders had its maiden event - AgileFest2016 an event where participants got to meet and hear from leading industry practitioners on how software craftsmanship is changing with the adoption of the Agile methodology for faster delivery. There were sessions on Finance, Regulation and software craftsmanship.
Honourable Mayor of Pune - Prashant Jagtap said that he was very supportive of this initiative. Global banks find Pune to be an attractive proposition due to the development in the city’s infrastructure, the city's world quality colleges and a large talent base. He extended his support to this community set up by FinTech Thought Leaders and promised to work towards removing any blockers or issues the sector faced.
The key note speech was delivered by Manoj Kulkarni, Managing Director at Barclays Technology Centre India on driving Agile Transformation in large organizations and taking a look forward in how to sustain it.
There was a lively panel discussion comprising of leaders from across the Fintech Industry covering Globally Systemically Important Banks, Product companies and Start-ups around the current trends and issues facing the FinTech space.
Speaking about the Academia connect, Atul Patil from FinTech Thought Leaders mentioned that the community has had some initial talks with a few Post-Graduate colleges and have received enthusiastic support from students and the management of these colleges. This was evident in the event by the participation of the MBA graduates from Bharati Vidyapeeth’s IMED institute – a leading Business School in Pune.
London and New York are usually considered to be the leading financial centres of the world, not only because of their history, role and significance in the international financial activity, but also due to the large pool of financial talent readily available in these cities. Pune, now, can aspire to be one of the leading centres for financial technology focussed activity considering the pace at which it is attracting top global banks to set up their captive centres here. For this to happen, it’s important initiatives such as FinTech Thought Leaders continue to build and nurture the talent pool, encourage innovation, motivate technical talent, provide more collaboration platforms and events and also make sure future talent is trained on technology that is relevant to the Fintech industry.