FinEquity - The finance club of SIIB organized its annual finance conclave - ‘Finanza 2017’ on 12th August at SIIB auditorium. The theme of this year’s event was ‘Sectoral Disruptions: An opportunity or a challenge?’ wherein various aspects of sector-wise disruptions in the areas of Telecom, Supply Chain, Manufacturing, I.T, Finance etc. were discussed. The event was commemorated by lighting the lamp by Dr. Asmita Chitnis along with the esteemed guests.
Mr. L.G Moorthy, SVP- Global Business Services, OLAM International, discussed about disruptions in Agriculture business. He shared anecdotes about innovations in agricultural space, current happenings in Agri-world and triggers through which disruptions takes place. He also shared insights about OLAM International and how it has established itself as the largest cocoa beans trader in the world. He further talked about agricultural business going digital and ‘Block Chain’ for efficient supply chain. He concluded by speaking about disciplined finance in agricultural sector.
Mr. Amol Joshi, Head- Finance, LTFS group discussed about disruptions in the area of Financial Technology (FinTech) sector. He touched upon ongoing turbulences in FinTech areas like Payment, Remittances, Digital Lending, Wealth Management, Insurance, Alternative Lending etc. and provided estimations to the extent where disruptions may occur. He also explained various challenges in the form of cyber security, privacy and data connectivity.
Ms. Sujata Kolekar, Associate Director, Cognizant Technology solutions, spoke about whether digital transformation is impacting insurance market or not. She stressed upon the fact that today user experience is very important in any business while insurance being a part of it. She further discussed the enablers and capabilities needed by the insurers to achieve digital transformation, speed of digital and outcomes of digital business transformation.
Mr. Ajay Sathe, Head - Group Risk Management, Bajaj Finserv, discussed risks of disruptions and how to take cues from the trends so as to identify those disruptions and prepare contingency plan to survive the same. He said that whichever business we go to, we should be aware of the 5 C’s which are Concentration, Cost structures, Competition, Continuity pressures and Compliance.
Post discussion by the panelists, a Q and A session was arranged wherein inquisitive students asked queries regarding the subject matter of discussion. The event ended with a Vote of Thanks by CA Madhura Ranade, Assistant Professor, who acknowledged the guests, Director- Asmita Chitnis, faculty and the students for gracing the occasion with their presence. Lastly, she congratulated FinEquity club - SIIB for making this event a grand success.