The Global Fintech Fest 2023 gathered over 100,000 attendees, showcasing latest fintech innovations, including Agentic AI, tokenization, and quantum technology.
The Global Fintech Fest (GFF) that started as a virtual conference in 2020 during the pandemic has grown significantly in scale, international participation and institutional engagement since then and has become an important event on the global fintech calendar. Its seventh edition was held in Mumbai from 8-11 September and attracted more than 1,00,000 attendees from over 80 countries, bringing together startups, institutions and investors. The event featured product and report launches, sessions and masterclasses and was inaugurated by the Honourable Prime Minister, Shri Narendra Modi.
GFF is organized by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC). It seeks to facilitate collaboration between policymakers, regulators, institutions, fintech innovators etc. on a global level to build trustworthy, inclusive and resilient financial systems that deliver meaningful economic and societal impact. This year’s theme was “Potential to Impact: Agentic AI | Tokenisation | Quantum: Trusted, Connected, Global Systems for Inclusive Finance.” Individually, these technologies are powerful but their convergence could deliver real impact through a system that is intelligent, programmable and secure.
Agentic AI is an advanced type of artificial intelligence that works on its own to reach a specific goal. It enables financial systems to decide and act in real time without human intervention but within a strong governance framework. It can independently operate an end-to-end workflow, strengthen regulatory oversight and reduce frauds. It makes personalizing financial services at scale possible and facilitates human decision making.
Quantum technology is based on the principles of quantum mechanics. In Fintech, it makes processing complex, multi-variable data sets simultaneously possible; improves risk modeling, portfolio optimization, fraud detection and offers cryptographic security far beyond the limits of classical computers. It helps make financial systems more resilient and in turn, more trustworthy.