“Vision 2030: Role of Fintech in Mobilizing the Economy”
Mumbai: The 5th Edition of the annual Digital Lending Association (DLAI) conclave was inaugurated today amidst an August gathering of Digital lenders, Tech firms, Banks, NBFCs, Investors, and Startups at the Taj Lands End, Mumbai. The DLAI Conclave 2023 saw large-scale participation from over 400 leading Indian and International Fintech firms and other stakeholders from the industry. The theme of the DLAI Conclave this year focuses on ‘Vision 2030: Role of Fintech in mobilizing the economy’, keeping in line with the present state of the global economy.
- Over 400+ Leading Indian and International, Fintech Firms Participates in DLAI Conclave 2023
- Sanjay Nayar, Founder and Chairman of Sorin Investment shares his Insights on Scaling SME and Consumer Lending in a volatile economic climate at the fireside interview
Speaking at the opening keynote session on ‘A decade of digital lending and the road ahead,’ Mr. Sashank Rishyasringa, Co-founder, axio and Founding Member and President DLAI shared, “Our focus at DLAI will be in three key areas, convening, empowerment and self-regulation. We currently have 93 members, and over 30% are part of multiple committees, helping us drive conversations. As an association, we are building data resources and providing a platform for our members to support growth. Lastly, we will focus on moving toward building a strong self-regulatory environment.”
The keynote was followed by the first panel of the day, ‘Role of Fintech in Powering the $5 trillion economy‘ with Smita Aggarwal, Global Investments Advisor, Flourish Ventures, Sameer Aggarwal, Founder and CEO, RevFin, Hitesh Sachdev, Head- Startup Investment and Engagement, ICICI Bank and Tanya Naik, Head- Online and Omnichannel Business, Pine Labs. The panel was moderated by Shilpa Mankar Ahluwalia, Partner at Shardul Amarchand Mangaldas & Co.
The second keynote on ‘Harnessing the Synergy between Japanese and Indian Fintech‘ by Presha Paragash, CEO of Credit Saison, brought out interesting data on how Japan has been increasingly growing their stakehold in the Indian startup ecosystem, more so in the last 10 years.
The second panel of the day, ‘Pati, Patni and Whoa!’ had a light-hearted title but focused on the real essence of partnerships between banks, fintech partners, corporate partners and many such combinations that keeps the fintech sector running. The discussion had luminaries from the industry, including Shinjini Kumar, Co-Founder of SALT and Independent Director at Paytm payments; Gaurav Kumar, Founder and CEO at Cred Avenue; Neeraj Sinha, Head-Retail & Consumer Bank at SBM Bank; Harshavardhan Lunia, Co-Founder, LendingKart.
The first half also saw an uninhibited fire-side interview of Mr. Sanjay Nayar, Founder and Chairman of Sorin Investment, one of the most well-known and seasoned investors in the Indian private investing landscape – with over 38 years of experience in the financial markets.
Sanjay Nayar, Sorin Investments, spoke about the fact that India is increasingly moving towards advanced digital infrastructure with the government’s support to drive innovation in financial services and democratizing consumption. There is a tremendous conviction for financial inclusion. With smart regulators who are building differentiated regulatory facilities in tandem with international standards, fintech companies can build sustainable business models. Distinctive licensing models will help fintech businesses be relevant to their revenue goals.
The primary purpose of the conclave every year has been to bring together industry leaders and influencers to discuss and deliberate on issues that impact the growth of the digital credit sector in India. With representations from a majority of Indian and International fintech firms, it provides an opportunity for the participants to envision the potential of the digital space and position themselves to benefit from the massive opportunity.
The post-lunch session will witness a keynote address by Upasana Taku, Co-Founder, Mobikwik on the topic “From Technology to Trust- elevating the Fintech game“, apart from panel discussions and a book reading on “Riding the Roller Coaster: An insider’s look at the personalities shaping the Indian banking industry.”
About DLAI:
DLAI was formed in 2016 by 9 leading players – Capital Float, NeoGrowth, Zest Money, LendingKart, KredX, Indifi, IndiaLends, MoneyView and UPF Limited.
Today, it comprises 90+ members with $5-6 billion in annual disbursements representing around 85% of the transaction volume of the digital credit industry in India.
The key objectives of DLAI are:
- To promote the responsible growth of the digital lending sector by creating awareness amongst key stakeholders, including customers, corporates, partners & regulators
- To aim for financial inclusion at the lowest level and facilitate the reach of financial services to the last mile
- To foster innovation in financial technology around digital lending and promote new business models like marketplace platforms, online aggregators, etc., in India
- To represent, advise and consolidate the efforts of the Digital Lending Industry
- To strive for a model code of ethics to be followed by each member
- To share best practices amongst members and spearhead collaboration opportunities with international partners
DLAI is run by an Executive committee headed by an elected Chairperson. It also has 4 sub-committees – Digital Policy, Public Relations, CTO Forums and Events.
