On December 21, LTP in partnership with Opus Consulting organized a FinTech meetup in Rise Mumbai called “The New Global FinTech Event: RegTech and Blockchain.” The meetup had attracted over 100+ audience members from Mumbai. The attendees were a mix of bankers, startups and technology aficionados. The theme was centered on RegTech and blockchain and a couple of keynote speeches.
The first keynote speech was by Dr. Lee Braine from Barclays’s who spoke on his viewpoints from the global perspective on the themes of RegTech and blockchain. He talked about the blockchain use cases at Barclays. The opening remarks were given by Amit Goel of LTP who elaborated on how LTP being a digital platform does these events to share ideas and create insights and to connect in person.
This was followed by a panel discussion on RegTech, which was moderated by Anshu Dubey (Head – Digital Payments and Cards at LTP). The panelists were Nisha Balani (VP Wells Fargo and a RegTech expert), Arpit Ratan (Co-Founder, Signzy, (Digital Trust System)), Varun Mittal (Alibaba Group (Singapore), has done considerable amount of work with regulators) and Manojkumar Kankaria (Director, IB Risk and Analytics Technology, India). The RegTech Panel discussion was the first of its kind in this segment. The panelists discussed a 360-degree perspective of GRC for banks, regulators and the RegTechs. They spoke candidly about the current GRC challenges banks face in data management and unified utilities and reporting across various businesses and business units. “The expectations that banks have from RegTech” was a very engaging discussion. Another interesting discussion was the regulators’ side of challenges and their constant endeavor to keep expanding and regulating the fast-changing, technology-focused financial services industry. The audience was equally interested in challenging and confirming their views/experiences on practical implementation challenges of driving GRC using technology. The fifty minutes were not enough for such a vast and evolving topic.
(From L to R: Anshu Dubey (Moderator from LTP), Arpit Ratan (Signzy), Varun Mittal (Alibaba), Nisha Balani (Wells Fargo), Manojkumar Kankaria (Barclays)
The second keynote speech was by Mehul Desai (Pioneer of Mobile Payments, Founder of C-Sam (Sold to MasterCard). Author of books March of Mobile Money, The Future of Lifestyle Management & August of Money) on “War on Cash.” It was an insightful session which delved into the cashless transactions, cash replacement and virtual currency. He put forward his opinion that cash works because of recognition as a state fiat and true cashless environment ensures exchange of value in its entirety just like cash. He also touched upon the factors driving adoption and scaling across all channels to ensure presence across all devices and verticals. You can find his presentation here.
Mehul Desai delivering a keynote speech on “War on Cash”
The second panel discussion was on blockchain and was moderated by Bhushan Sonkusare (Vice President at Publicis). The panel members were Nitin Kulkarni (COO at Opus Consulting Solutions), Makarand Gadre (CTO at Hexanika (Big data & Regulatory compliance)), Harsh Patel (Co-founder, Algorythmix (Blockchain Innovations KYC IoT)) and Ritu Kedia (Vice President/IB Lead Architect CTO office, Barclays India). The discussion revolved around topics like KYC, remittances, industry adoption, payments and regulations. There were some great pertinent questions from a couple of panelists. Makarand from Hexanika had an interesting analogy where he compared blockchain to a hammer and everything else as a nail. Niti Kulkarni also elaborated on Opus’s GTM for their customer base on the blockchain panel.
From L to R: Bhushan Sonkusare (Moderator from Publicis Sapient, Harsh Patel (Algorythmix), Nitin Kulkarni (Opus Consulting), Ritu Kedia (Barclays), Makarand Gadre (Hexanika)
The meetup ended with a closing remark from Aditya Khurjekar from LTP, who had traveled in from the US to be a part of this event. LTP would like to thank all its collaborators and the speakers for making this event a great success. We look forward to engaging with you on more events like these in the future.