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India’s fintech powerhouses lead at Money20/20 Summit
India’s prominent participation highlighted the country’s growing influence in the global financial technology landscape.
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Money20/20 conference. / Image - Ronak M. Jani
The Money20/20 conference, held in Las Vegas in November 2024, showcased a strong presence of Indian fintech companies and financial institutions.
With over 11,000 attendees from 3,000 companies worldwide, the event, regarded as the world's largest fintech event, brought together industry leaders, innovators, and investors to explore the future of financial services.
Major Indian firms, including TCS, Infosys, PhonePe, Paytm, and Razorpay, showcased innovative contributions to digital finance. Representatives from Indian banking giants like Axis, HDFC, and ICICI Bank were also present, underscoring India’s dedication to shaping the future of financial services.
Indian companies highlighted advancements in mobile payments, cross-border transactions, and biometrics, which are gaining traction as India leads in digital payment solutions and financial inclusivity.
The event explored emerging themes such as artificial intelligence (AI) and open banking, areas where India’s fintech sector has rapidly evolved. Indian companies engaged in discussions on AI’s role in fraud detection and personalized financial services, with several firms exploring how to deploy AI at scale in financial products.
A significant highlight was AI's role in the financial sector, with Nvidia’s Kevin Levitt underscoring the technology's potential for fraud prevention, personalized financial guidance, and underwriting automation. Levitt described AI integration as “a new industrial revolution” that requires firms to harness generative AI’s potential, emphasizing rapid advancements in AI technology.
Open banking, a transformative concept in India’s digital finance policy, was also a major focus. Indian experts contributed insights on how open banking fosters customer choice, data security, and financial innovation, a field India has pioneered through regulatory frameworks such as the Unified Payments Interface (UPI).
Cryptocurrency and digital assets remained a hot topic at the event. Indian delegates addressed regulatory challenges and innovation within decentralized finance (DeFi), emphasizing the need for robust regulatory frameworks to safeguard users and encourage sustainable growth.
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