“India’s fintech ecosystem is a stark demonstrator of the power of using technology in government and digital government and the impact it has on creating the innovation ecosystem. Post-2014, our Prime Minister announced his vision of Digital India where there were three objectives – technology must transform governance, create opportunities for India’s youth, expand digital economy as a part of overall India’s economy and, from being a consumer of technology, be a producer of technology. The citizen’s trust in the government is an outcome of that initiative,” said Rajeev Chandrasekhar, Minister of State for Electronics and Information Technology, Skill Development and Entrepreneurship. He was speaking at the FinTech Festival India.
“This is India’s ‘techade’ as there are now large number of opportunities for startups and entrepreneurs. This decade will be built on the energy, hard work, determination along with innovation and ideas of young Indians all around the country,” Chandrasekhar added.
Dr Jasmin B Gupta, Co-founder & CEO, LXME, said, “Banks have evolved with customer experience, be it in the way of measuring customer experience switching from C-SAT scores to NPS to have both macro and micro level perspectives to help improve at all touch points of customers. How to perceive and make use of the data, making changes and improvements based on it is I think what banks struggle with today. Banks thus need help from fintechs to give exceptional, professional, personalized customer experience via data analytics, machine learning, automation along with data security to establish trust in customer experience. Customers want to interact with their banks everywhere and I think that’s also where social media comes into play.”
