“BFSI sector in India is valued at Rs. 81 trillion and is likely to become the fifth largest in the world by the year 2020 and third largest by the year 2025”.

However, from a functional point of view, the sector is also facing various challenges owing to the introduction and intervention of new technologies. An era where challenger banks and third-party applications are starting to impact day-to-day operations, a collaboration between BFSI, FinTech players and retailers are inevitable for the smooth operations of the sector.

Optimizing the speed of delivery with the quality of service is still one of the critical pillars within the BFSI that influences customer loyalty and retention. Moreover, issues like dynamic cybersecurity landscape, meeting risk & compliance standards along with the challenge of upskilling the existent workforce also influence the ecosystem by demanding a more agile infrastructure and corresponding policy framework.