Digital Transformation Conclave- ReEnvision 2023

XLRI PGDM (GM) has successfully completed its Digital Transformation Conclave- ReEnvision 2023: “India’s Digital Public Infrastructure and Fintech”
22nd July 2023
The Conclave Committee of XLRI Jamshedpur, PGDM (GM) Batch 2023-24 hosted the event ReEnvision- A Digital Transformation Conclave themed around “India’s Digital Public Infrastructure and Fintech” on 22nd July 2023. At XLRI’s Re-envision Conclave on Digital Transformation, a distinguished panel of Banking, Technology and Government professionals including COOs, Directors, Founders, Digital Heads, Managing Directors, Country Heads and General Managers converged and inspired the cohort by sharing their invaluable insights, exploring India’s Digital Public Infrastructure and FinTech landscape.
The Conclave started with the Inaugural Address by Fr. S George S.J., Director, XLRI Jamshedpur and Dr. Sanjay Patro, Dean, Academics, XLRI Jamshedpur. Fr. S. George addressed the audience and thanked the speakers for taking the time to interact with the students of XLRI PGDM (GM). He inaugurated the event by inviting the speakers to initiate an exchange on topics of Finance, Technology and Leadership leading to an effective exchange to inspire and transform the student’s mindset. Dr. Sanjay Patro addressed the audience and thanked the speakers for taking the time and committee members involved in organizing the ReEnvision Conclave.

During the Conclave, Paroma Chatterjee, CEO India, Revolut, delivered a captivating keynote on India’s digital transformation, highlighting her pioneering efforts in creating the first mobile wallet license, empowering the unbanked in flood-prone regions. Introducing “MAJA” – Mobility, Aadhar Card, Jandhan Bank Account and the Account Aggregator system, she revolutionized digital transactions. Ms. Chatterjee showcased the success of AADHAR for digital identity verification and its impact on small-scale vendors’ business expansion. She emphasized P2P money transfer and digital lending supporting MSMEs’ growth. Her insightful discourse showcased India’s digital progress and its significant benefits across diverse sectors.
The event moved ahead into the Panel-Discussion themed on the Topic “Is Indian Fintech Ready to Conquer the World?” by
Lincy Therattil, Head of Open Innovation & Fintech Platform – Rise India, Barclays: Lincy Therattil highlighted the importance of financial inclusion and the impact of localized solutions tailored for the Indian market.
Vaibhav Tambe, Founder & CEO – TransBnk: Mr. Tambe highlighted India Stack as a robust infrastructure and stressed the importance of new fintech products.
Dhruv Dhanraj Bahl – Chief Business Officer- Merchant Lending, BharatPe: Dhruv Dhanraj then discussed the evolving finance models and the significance of individual customer profiling using data.
Gaurav Hazrati, Chief Strategy & Business Officer and Founding Member – Tata Digital: Mr. Hazrati talked about the solutions being built for ‘Bharat’, challenges in the domain & role of Tata’s in touching the lives of Indians through technology.
Abhishek Rajan, Director-Product Management, Walmart Global Tech India: Regarding Indian markets, he pointed out India’s growing influence in building financial products for other economies.
Keynote Speaker Lalitha Nataraj, Head- Digital Partnerships, IDFC FIRST Bank, highlighted the implications of the Indian Finance Stack in her address. Comprising three layers – the Identity Layer, Payment Layer, and Data Layer, the system prioritizes privacy by collecting minimal data with explicit consent sharing. The Digital Payment Infrastructure (DPI) enabled by the Finance Stack positively impacted the finance, agriculture, health, and logistics industries. It resolved challenges, eliminating the need to visit banks physically, and the AADHAR-owned API played a crucial role in offering diverse services. Indian banking penetration impressively surged to 87% from 2008 to 2017, demonstrating its effectiveness.
In the second half, Keynote Speaker Venkatram Jayanthy, MD & CEO, India Post Payments Bank, addressed the relevance of Digital Financial Services for the last mile. He emphasized the significant impact of financial services digital transformation, highlighting the success of initiatives like Jandhan Yojna and Digital Public Infrastructure in streamlining transactions. Mr. Jayanthy shed light on the challenges faced, particularly in providing small value credit to the last mile. His thought-provoking speech called for policy support and an enabling environment to unlock the full potential of fintech solutions in India’s digitization journey.
The next segment was the panel discussion on the topic – “Indian Digital Economy – The Golden Age of India”, where our distinguished panelists shared their insights and views over a series of questions.
The panelists included Vamsi Madhav – COO & Founding Member, Sahamati – Mr. Madhav talked about the role offered by Open Network for Digital Commerce, the importance of execution with support from policymakers of the country.
Rajesh Ranjan – Partner & Global Head BPS, Everest Group – Mr. Ranjan highlighted India leveraging digital prowess, the role of APIs, expansion of organizations in Tier II & Tier III cities.
Vaibhav Lodha- Founder, FT Cash – Mr. Lodha talked about technologies like ONDC, highlighted the importance of identifying customer needs & building technologies to address the same.
Prof. Shilpa S. Santwani – MD, State Street – Ms. Shilpa talked about the rising number of women entrepreneurs in the digital economy & its impact on the economies, highlighting the rise of entrepreneurs in India.
Dr. Ramesh V Darbha – GM, Country Head (India), Backbase – Mr. Darbha talked about the role of DPIs/DPGs and the scale of reach of technology in the Indian ecosystem, growth of startups in India, implementation of blockchain technology in government sector.
After such thought-provoking discussions, the winners of the ReEnvision 2023: The Digital Transformation Case Competition were announced. The case competition event witnessed an overwhelming response, with an impressive total of 68,146 impressions and 1,432 teams registering, truly exemplifying the spirit of innovation and excellence in the realm of digital transformation. The competition was sponsored by The Product Folks, whose invaluable support made this event a massive success.
The Conclave was finally concluded with the hosts thanking the guests with their Vote of Thanks Speech.