Madhusudan Shekar, Principal Technical Evangelist, Amazon Internet Services Private Limited at 1st NBFC100 Tech Summit 2017

Technology Presentation: Innovating with AI/ML in Financial Services – Madhusudan Shekar, Principal Technical Evangelist, Amazon Internet Services Private Limited at 1st NBFC100 Tech Summit 2017

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The Indian financial sector is rapidly growing with the changing economy and diversifying needs. A pivotal part of the segment catering to several financial services is handled by Non-Banking Financial Companies (NBFCs).
In India, NBFCs geared up their operations in the 1960s and in the recent times, they have emerged as substantial contributors to the Indian economy’s growth by supplementing the effort of banks and other financial institutions. In developing economies like India where 70 per cent of the population resides in rural areas, NBFCs have a greater role to play.
Extending the role of financial institutions further, on 19 August 2015, the Reserve Bank of India (RBI) kicked off some transformative changes in the financial system of the country by giving licenses to 10 small financial banks. The main aim of this initiative was to bring the unbanked section of the society under the periphery of the formal banking system.
Highlighting the significance of NBFCs and small finance banks, Elets Technomedia Pvt Ltd is organising “NBFC100 Tech Summit” on October 12th at ITC Grand Central, Mumbai. The summit will weave around 100 NBFCs, Small Finance and Payments Bank.
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