Federation of Indian Chambers of Commerce and Industry (FICCI) and Indian Banks’ Association (IBA) jointly organize FIBAC—an annual banking conference and the largest forum promoting interaction between the Industry and Banks in India. Boston Consulting Group (BCG) is the Knowledge Partner for the conference.
This annual flagship conference has become the marquee event in the calendar for members of the entire banking and financial sector fraternity in the country and even draws participation from different parts of the world. Over the years, the conference has truly positioned itself as one of a kind in terms of knowledge dissemination and relationship building.
This year’s conference of industry stalwarts and global thought leaders will highlight some of the key emerging issues related to the banking industry. Important success strategies will be discussed and a roadmap for the future of the Indian banking industry will be laid out.
Marking our 11th year of partnership, BCG is continuing its association with FICCI and IBA for the biggest annual banking conference to be held on November 2–3. The proposed theme for FIBAC 2022 is “Helping India step change its growth: How tech-enabled banking can contribute to the realization of a $5 trillion economy goal.”
FIBAC productivity benchmarking covers 90% of Indian banking. The “Productivity Benchmarking Survey” is a holistic survey covering bank productivity across 200+ metrics. Participating banks receive insights with respect to their standing in relation to their peers and potential improvement levers.
BCG has collaborated with TransUnion CIBIL to analyze the bureau data and has created a comprehensive measure of lending health trends in India. It includes the overall lending situation across geographies and players, demand and supply trends, changes in lender behavior, and consumer credit performances.
BCG has also undertaken a survey to get a pulse from 2,000+ heterogeneous consumers and 1,000+ MSMEs in India regarding various themes. As part of the FIBAC report, insights from the survey on various themes such as product features preference, digital journey experience, channel usage trend, embedded finance, etc. will be shared. This will help industry to better offer products and services in line with demand and growth.
A number of BCG’s leading subject matter experts will be joining other industry leaders at the event to focus on emerging trends of the industry, with a focus on keynote subjects including digital in banking, disruption of payments in India, collaboration with FinTechs, infrastructure finance, next gen talent, digital lending, cyber fusion, prioritizing delivering a superior customer user experience (UX), re-imagining tech-enabled rural financial systems, MSME finance cloud native architecture, and climate and sustainability.
Managing Director & Partner
Chennai
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Mumbai - Nariman Point
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Bengaluru
India’s spirited pursuit of public digital platforms is pushing banks towards much bolder digital transformation.
Banks need to embrace holding structures that can unbundle ‘Fintech Premium’ to attract talent. The industry needs to actively promote Open Network for Digital Commerce (ONDC) platform to ward-off the threat of BigTech. The regulator and government need to re-imagine co-lending as a digital marketplace and unlock massive potential of blockchain.
In an increasingly digital world, banks have taken various strides on digital transformation. While several banks in India have invested and reaped significant rewards by digitizing transactions, automating back-office operations and reimagining customer journeys, achieving excellence in digital sales still remains elusive.
