Fintech Ecosystem Luminaries to Converge at Global Fintech Fest 2024

New Delhi, August 6, 2024 – One of the world’s largest annual fintech conferences, the Global Fintech Fest (GFF) is back with its fifth edition. GFF 2024 is scheduled from August 28 – 30, at the Jio World Convention Centre, Mumbai. The theme of this year’s conference is ‘Blueprint for the Next Decade of Finance: Responsible AI | Inclusive | Resilient’.

Global Fintech Fest (GFF) 2024 is presented by the Ministry of Electronics and Information Technology (MeitY), Ministry of External Affairs, Department of Financial Services (DFS), Reserve Bank of India (RBI) and International Financial Services Centres Authority (IFSCA). The conference is jointly organised by the Payments Council of India (PCI), the National Payments Corporation of India (NPCI), and the Fintech Convergence Council (FCC)

Explaining the key objective and vision of GFF 2024, Mr. Kris Gopalakrishnan, Chairman, Axilor Ventures and Co-founder, Infosys, and the Chairman of the Global Fintech Fest (GFF) 2024 Advisory Council said, “GFF 2024 is more than a showcase of fintech innovations. It’s about crafting a future that is equitable, inclusive, and resilient. In the context of India being one of the fastest growing fintech markets in the world, this conference assembles the leading minds in global fintech to surge ahead ensuring inclusive and sustainable growth. Our focus on responsible AI, inclusivity, and resilience highlights our commitment to building a responsible financial ecosystem that can adapt to and thrive amid global challenges.”

“At the heart of GFF 2024 is the belief that a responsible and inclusive financial ecosystem is imperative for global progress. Our theme this year is Blueprint for the Next Decade of Finance, which reflects our dedication to fostering collaboration, innovation, and ethical leadership in fintech”, said Mr. G Padmanabhan, Former Executive Director, the Reserve Bank of India, Former Chairman, the Bank of India, and Member, of GFF 2024 Advisory Council.

Summing up the importance of GFF 2024, Mr. Dilip Asbe, MD & CEO, National Payments Corporation of India (NPCI) said, “We are happy to unveil the fifth edition of Global Fintech Fest 2024 – a meeting ground for celebrating the remarkable advancements of fintech, spotlighting new opportunities driven by the surge in deep-tech innovations, and hearing inspiring thoughts of visionary leaders. This year’s fest is not only aimed at nurturing global collaborations and addressing pivotal challenges, but also devising business models that promote inclusivity, resilience, and sustainability. GFF 2024 aims to promote innovation, and we are looking forward to engaging discussions and pioneering insights that will shape the future of the sector for the coming decade.”

Around 800 speakers, including policymakers, regulators, senior bankers, industry captains, and academicians, from India and various other countries will address more than 350 sessions over three days of the conference.

Among the stalwarts from India sharing their insights at GFF 2024 are:

· Shri Shaktikanta Das, Governor, Reserve Bank of India

· Shri T Rabi Sankar, Deputy Governor, Reserve Bank of India

· Shri S Krishnan, Secretary, MeitY

· Smt. Madhabi Puri Buch, Chairperson, Securities & Exchange Board of India (SEBI)

· Shri. Vivek Joshi, Secretary, Department of Financial Services, Ministry of Finance, Government of India

· Dr. Abhijit Phukon, Economic Advisor, Department of Financial Services, Ministry of Finance, Government of India

· Mr. Nandan Nilekani, Co-founder & Chairman, Infosys Technologies

· Shri. Atul Kumar Goel, Managing Director & CEO, Punjab National Bank

· Shri. Sumnesh Joshi, Deputy Director General (Joint Secretary Level), Ministry of Communications, Government of India

· Mr. Ray Harishankar, Vice President, Business and Technical Strategy, IBM Quantum Safe

Global luminaries from the fintech and finance ecosystem converging at GFF 2024 include:

· Dr. Florian Toncar, Parliamentary State Secretary, German Federal Ministry of Finance

· Mr. Alexandre Stervinou, Director, Cash & Retail Payments Policy and Oversight Directorate, Banque de France

· Mr. Harish Natarajan, Practice Manager, Financial Inclusion & Infrastructure, The World Bank

· Mr. Jay Surti, Financial Supervision & Regulation Division Chief, International Monetary Fund

· Ms. Daranee Saeju, Assistant Governor, Bank of Thailand

· Dr. Sidi Mohamed Dhaker, Special Advisor to Governor, Central Bank of Mauritania

· Ms. Ana Maria Prieto, Head – Payment System Department, Central Bank of Colombia

· Mr. Solomon Damtew, Director, National Bank of Ethiopia

· Mr. Harris Mygdalis, Group Chief Digital Officer, Eurobank

· Ms. Sirirat Jungwongsasin, Deputy Director, Bank of Thailand

· Mr. Camilo Tellez-Merchan, Deputy Managing Director, UN-based Better Than Cash Alliance, United Nations

GFF 2024 will feature over 150 international speakers from 40 countries, including the US, the UK, Germany, France, Singapore, UAE, and Israel. Delegates are expected from over 100 countries, besides India.

The conference will also feature Investment Pitches and hackathons, providing a platform for fintech startups to present their innovative ideas to potential investors. This initiative aims to offer the startups international visibility and secure substantial funding from leading venture capitalists. Twenty thought leadership reports will be launched at GFF 2024.

Staffing Startup Instawork Acquires YC-Backed Able Jobs

Mumbai, August 06 2024: Flexible work app, Instawork, announced that it has acquired YC and Elevation Capital-backed startup, Able Jobs, to strengthen its product suite. This marks the San Francisco-based company’s first acquisition in India.

Instawork aims to leverage Bengaluru-based Able Jobs’s product innovations to enhance its own capabilities and explore new segments. This acquisition will also help Instawork build a product from India for the global market and benefit from Able Jobs’s expertise, the company said in a statement.

As a part of the acquisition, Ravish Agrawal, Co-Founder and CEO of Able Jobs, will serve as an advisor to Instawork, while Siddharth Srivastava, Co-Founder and CPO will join as a product leader in the Instawork team.

Speaking on the announcement, Ravish Agrawal, Co-Founder and CEO, Able Jobs, commented, “This acquisition marks an exciting new chapter for Able Jobs. We are thrilled to bring our knowledge and experience to Instawork, helping to build a world-class platform that benefits workers and employers globally.”

Sharing his views on the acquisition, Siddharth Srivastava, Co-Founder and CPO, Able Jobs, stated, “We see this as an incredible opportunity to utilize our strengths and Instawork’s resources to solve unemployment and hiring challenges more effectively and on a larger scale.”

Ravish and Siddharth founded able Jobs in 2019 as a career platform for early professionals in India. In the last five years, Able Jobs has garnered ~3 Mn users who have accessed the platform to apply for jobs, prepare for interviews, and get real world skills.

So far, more than 2500+ companies have also used the Able Jobs platform for their entry-level hiring. Able Jobs has also placed nearly 35,000+ professionals in the field of Analyst, Sales, Support, Marketing, Finance and more.

Able Jobs has raised a total of $2.3 Mn funding from Elevation Capital, Y Combinator, Titan Capital, Mynavi, and angel investors like Neeraj Arora – ex CBO of WhatsApp and Founder of Venture Highway, and Farid Ahsan – Co-Founder of ShareChat.

Instawork, which pairs hourly workers to companies that need to fill shifts, announced a $60 million Series D last year in May, to expand its use of AI, and match workers with shifts on its mobile app and platform. The company has raised a total funding of $160 million, and was last valued at $760 million. Instawork is backed by investors like Benchmark, Greylock, Craft Ventures, Spark Capital, Y Combinator and venture capital fund TCV.

19-Year-Old Road Accident Victim with Severe Head Injury Successfully Revived at Fortis Bannerghatta Road

Bangalore, 06 August 2024: Fortis Hospital Bannerghatta Road recently treated a critical road accident victim who had sustained a traumatic head injury and a fracture in his right arm after a severe road accident in Hulimavu. A multidisciplinary team of doctors led by Dr. Raghuram G, Additional Director of Neurosurgery, along with Dr. Narayan Hulse, Director of Orthopaedics at Fortis Hospital Bannerghatta Road, successfully treated the patient using a multidisciplinary approach.

The incident occurred 2 months ago when 19-year-old, Raj (Name changed) was traveling in a car around 1:00 am. While sitting in the back seat, the vehicle toppled after hitting a footpath. As a result, he sustained a head injury, an injury to his right upper limb, loss of consciousness, and bleeding from his left ear, leaving him in critical condition and in urgent need of expert medical attention. Recognizing the severity of the situation, he was immediately rushed to Fortis Bannerghatta.

Upon admission, Raj underwent an MRI scan that revealed a diffuse axonal injury, a condition where the connection between the brain cells are disturbed causing swelling and bleeding. This injury severely compromised his ability to speak and move. Additionally, he sustained a fracture in his right upper limb, along with an elbow dislocation. Given the critical nature of his condition, a multidisciplinary approach was adopted, with a team of skilled neurosurgeons, orthopaedician, anaesthesiologists, and infectious disease specialists evaluating treatment options to ensure the best clinical outcomes.

The neuro team administered targeted medication to address his injuries, speech difficulties, balance issues, and memory impairment caused by the accident. Road accidents often pose serious challenges with minimal chances of survival. In this case, an integrated approach by the medical team, combined with quality care, enabled the patient to recover successfully. Customized rehabilitation efforts have also been instrumental in his journey towards healing and regaining his ability to lead a normal life.

Giving details of the case, Dr Raghuram G, Additional Director – Neurosurgery, Fortis Hospital, Bannerghatta Road, Bengaluru, said, “Quick medical intervention was crucial in stabilizing Raj’s condition after he suffered severe head injuries. This involved management in the NSICU with IV antibiotics, anti-seizure medications, and measures to reduce swelling. Following the initial treatment, a tailored rehabilitation program including physiotherapy and speech therapy, was pivotal in his recovery, enabling him to resume daily activities. Our multidisciplinary team worked closely to provide comprehensive care that addressed both immediate medical needs and long-term rehabilitation goals. Raj has successfully resumed his college studies and is currently undergoing weekly sessions focused on speech recovery.”

Commenting on the surgical procedure, Dr. Narayan Hulse, Director – Orthopaedics, Fortis Hospital, Bannerghatta Road, Bengaluru, said, “Given the fracture in Raj’s right upper limb, thin wires were used to stabilize the bones, while a plate and screws secured the fracture. Additionally, a part of the elbow joint was removed because it could not be properly reduced due to the nature of the fracture. Following these surgical interventions, the patient has shown significant progress in his recovery. With continued physical therapy and rehabilitation, he has regained substantial mobility and is steadily improving in his daily activities.”

Mr. Akshay Oleti, Business Head, Fortis Hospitals, Bengaluru, said, “We are immensely proud of our team’s relentless dedication and expertise, which have once again brought hope and healing to a young road accident victim. This successful outcome exemplifies our commitment to delivering exceptional patient care and advancing medical innovation through a collaborative effort from a multidisciplinary team of specialists.”

Aster CMI Hospital offers Technology-Driven Solutions for Diabetic Foot Management

Bangalore, August 06, 2024 – To commemorate National Vascular Disease Awareness Day, Aster CMI Hospital introduces inauguration of dedicated Diabetic Footcare Clinic (DFC) with cutting-edge technology. By leveraging Artificial Intelligence and 3D CAD, the clinic offers a comprehensive services to prevent and manage various issues related to diabetic foot, thereby significantly reducing amputation risk and enhancing patients’ quality of life.

Diabetes is a leading cause of amputations worldwide, often stemming from foot ulcers. Traditional methods of managing diabetic footcare have limitations, often resulting in suboptimal outcomes. Aster CMI Hospital’s DFC aims to address this critical issue by offering a comprehensive and patient-centric solution.

By meticulously scanning patients’ feet and analyzing the data through AI algorithms, the clinic creates customized footwear that offloads pressure from vulnerable areas, preventing ulcer formation and promoting healing. This innovative approach significantly reduces the risk of amputations and improves the overall quality of life for diabetic patients.

“India is grappling with a diabetes epidemic, marked by alarming rates of subsequent foot ulcers and amputations. Our new Diabetic Footcare Clinic is a significant development in addressing and preventing complaints related to diabetic foot ulcers. By combining advanced technology with expert care, we aim to prevent associated complications and enhance the quality of life for countless diabetic patients. Our vision is a future free from diabetes-related amputations,” said Dr. Krishna Chaitanya, Lead Consultant – Vascular and Endovascular Surgery, Aster CMI Hospital.

The Diabetic Footcare Clinic also offers comprehensive diabetic foot care services, including wound management, vascular assessments, and patient education. By addressing the multifaceted nature of diabetic foot disease, the clinic aims to prevent complications and improve patient outcomes.

Commenting on the occasion, Dr. Nitish Shetty, CEO, Aster DM Healthcare India said, “Diabetic Footcare Clinic marks a significant milestone for us. We are setting a new standard for diabetic foot management and our strategic focus will also be on this domain given the extensive spread of the disease in India. This clinic is a testament to our commitment to healthcare excellence in diabetes foot care.”

“The Diabetic Footcare Clinic exemplifies Aster CMI Hospital’s dedication to a comprehensive tech-solution to diabetes-related foot crisis. We aim to prevent life-altering complications and enhance the quality of life for individuals living with this debilitating ailment. The objective is to create a secure and enjoyable future for patients where diabetes doesn’t impede mobility or independence,” said S Ramesh Kumar, CEO at Aster Hospitals Bengaluru.

Geninnov Appoints Susan Gilbertson As Strategy Advisor In The US

New Delhi 06 August 2024 – GenInnov, an innovation-focused global asset management platform, announced the appointment of Susan Gilbertson as Strategy Advisor in the US as it looks to focus on its expansion in the US and its financial services platform.

 Ms. Gilbertson will provide strategic input and expertise alongside Nilesh Jasani, CEO of GenInnov and Chief Portfolio Manager of LC GenInnov Global Innovation Fund, a long-only, innovation-focused, thematically diversified fund. The LC GenInnov Global Innovation Fund was launched by global investment institution Lighthouse Canton earlier this year and invests in companies poised for growth in the GenAI era.

 Ms. Gilbertson has over 35 years of experience in global financial markets. Most recently she was the Head of US Equity Research at Mizuho Securities, USA and a member of the US Equities Operating Committee. Mizuho Financial Group in Japan is among the top 3 financial groups in Japan and top 15 largest financial institutions globally. Prior to that she was at Jefferies for 14 years, as the Deputy Global Head of Equity Research. Jefferies is consistently ranked among the Top 10 in the Americas. Ms. Gilbertson is the CEO and Founder of Susan Gilbertson Enterprise (SGE), which provides advisory and consultant services to financial firms looking to grow sustainably with a focus on strategy, organizational structure and team building. She has an MBA from the UCLA Anderson School of Management and a BSc in Banking & International Finance from The Cass Business School, London, England.

 “I am excited to welcome Susan as an adviser to GenInnov,” said Mr. Jasani. “Her appointment reinforces GenInnov’s commitment to provide innovative, differentiated, and flexible investment opportunities in Asia and the US.”

 “GenInnov is at the forefront of innovation in the Asset Management Industry, combining the latest in GenAI technology with fundamental financial analysis,” said Ms. Gilbertson. “I am honored to be a participant in GenInnov’s growth and at the opportunity to partner once more with Mr. Nilesh.” Mr. Jasani and Ms. Gilbertson worked together prior in research management at Jefferies, the global investment bank.

 The LC GenInnov Global Innovation Fund is led by Mr. Jasani, an industry veteran with over three decades of market experience and a subject matter expert on GenAI. It aims to capitalise on the rapid innovation and its market opportunities, expecting significant wealth creation in sectors like biotech, healthcare, robotics, mobility, wearables, and clean tech.

 Mr Jasani is based in Singapore and is a highly experienced and respected Asia equities industry professional. Most recently, he headed Jefferies Asia Equities and in 2010 was hired to build and lead Jefferies Asia Equity Research. Prior to Jefferies, Mr Jasani was hired in 2007 to build Credit Suisse’s India research team which was one of the top which was ranked one of the top-ranked research teams across various industry polls in 2009 and 2010, with Mr. Jasani individually receiving the highest accolades in his macro domains. Given his extensive experience in Asia financial markets and deep business connections in Korea, Taiwan and IBM, Mr Jasani has a front row seat to the disruptive innovation coming out of Asia and a proven ability to identify the top global investment ideas in innovation.