SRM INSTITUTE OF SCIENCE & TECHNOLOGY- RAMAPURAM

Faculty of Science & Humanities

Department of Commerce

EVENT TITLE: Role of Fintech in Financial Institution

DATE : 28.08.2024

TIME: 2 PM to 3 PM

VENUE : Online

EVENT CONVENER              : Dr.D.Janis Bibiyana

EVENT COORDINATORS                  : Dr.M.Kovarthini , Mrs.Priyadharshini

NO. OF PARTICIPANTS                        70

Name: A. Dhanalakshmi

Current Position: Professor, Acharya Bangalore Business School (ABBS)

Visiting Professor: Zhejiang University of Finance and Economics, Authorized Professor of Bangor University, UK

Previous Roles:

  • Professor, School of Foreign Studies, Wenzhou University, China (Sept 2016 – July 2022)
  • Director (PGDM), Acharya Bangalore B School (April 2010 – Aug 2016)
  • Executive Officer, Institute of Chartered Accountants of India, New Delhi (July 2008 – April 2010)

Education:

  • D., Voorhees College, Vellore, Madras University (2009)
  • Post-Doctorate, Daito Bunka University, Japan (2013)
  • MBA, IGNOU, Delhi (2005)
  • Com, University of Madras (1993)
  • Phil, Madurai Kamaraj University (1997)
  • Com, University of Madras (1989)

Certifications:

  • TEFL Certification (2023)

Experience Highlights:

  • Over 290 financial education workshops with SEBI
  • Coordinated international conferences and student exchange programs
  • Published extensively in journals and books on various management and financial topics

Skills:

  • Educational  Philosophies,    Adaptability,   Time Management, Classroom Management, Curriculum Development, Interpersonal Communication

Languages:

  • English, Tamil, Kannada, Telugu, Hindi, Malayalam, Chinese

Publications:

  • Over 30 journal articles and book chapters, including topics on financial investments, COVID-19 impact, and management education

The event explored the transformative effects of fintech on financial institutions and the broader economic landscape. Key insights include:

  • Broadened Access: Fintech solutions like digital banking and peer-to-peer lending are expanding financial service access, especially for previously underserved
  • New Employment Opportunities: The growth of fintech is creating diverse job roles across technology, data analytics, and customer service, fostering a more dynamic job
  • Operational Improvements: Fintech innovations streamline financial operations, enhance efficiency, and reduce costs, contributing to more effective financial management.
  • Support for Startups: Fintech is nurturing a startup ecosystem by enabling new financial products and services, promoting entrepreneurship and business
  • Ethical Standards: The sector is focusing on integrating ethical practices and ensuring secure, transparent financial

Develop regulations that foster fintech innovation while maintaining financial stability.Encourage partnerships between fintech firms and traditional financial institutions. Support educational initiatives to equip the workforce with fintech-related skills. Promote ethical practices and transparency within the fintech industry.

Overall, fintech is significantly reshaping financial institutions, improving access, creating jobs, and advancing economic efficiency.

OUTCOMES OF THE PROGRAM:

The event explored how fintech innovations are transforming financial institutions and aligning with Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth. Key outcomes include:

  1. Increased Financial Inclusion: Fintech solutions like mobile banking and digital wallets enhance access to financial services for underserved populations, supporting inclusive economic growth.
  2. Job Creation: The fintech sector is generating new job opportunities and driving workforce development, aligning with the goal of decent
  3. Economic Efficiency: Fintech improves financial operations, reduces transaction costs, and boosts productivity, contributing to economic
  4. Innovation and Entrepreneurship: Fintech fosters innovation and supports entrepreneurship by lowering barriers to new financial services and solutions.
  5. Responsible Finance: Fintech promotes transparency and ethical practices, supporting sustainable development.

Recommendations:

  • Support Policy Development: Create regulatory frameworks that balance innovation and
  • Promote Collaboration: Encourage partnerships between fintech, traditional financial institutions, and
  • Invest in Training: Develop education programs to prepare the workforce for fintech
  • Encourage Ethical Practices: Adopt responsible financial practices within the fintech

Overall, fintech is playing a crucial role in advancing economic growth, job creation, and financial inclusion, aligning well with SDG 8.

Google form link: https://forms.gle/yekwqdpCNusXLcTd8

Response link: https://docs.google.com/spreadsheets/d/1XqXrq9sPFuy1aJqc-v8B9oWKwyQ1mg- Vc4oRAq3Txyc/edit?usp=sharing

SAMPLE FEEDBACK SHEET:

How useful was this webinar:

  • 70% of attendees provided event as Strongly
  • 23% of attendees rated the event as
  • 4% of attendees rated the event as Neutral or Neither Agree nor

OUTCOME:

The webinar on “Role of Fintech in Financial Institutions,” held on August 28, 2024, underscored fintech’s pivotal role in transforming the financial landscape. It highlighted how fintech innovations are broadening access to financial services for underserved communities, creating diverse job opportunities, and enhancing operational efficiency within financial institutions. The discussion also emphasized fintech’s support for entrepreneurial ventures and the importance of maintaining ethical standards in financial transactions. Key recommendations included developing balanced regulatory frameworks, fostering collaborations between fintech and traditional institutions, investing in fintech education, and promoting ethical practices. Overall, the event demonstrated fintech’s significant impact on advancing financial inclusion, job creation, and economic growth, aligning with Sustainable Development Goal (SDG) 8: Decent Work and Economic Growth.