5 key takeaways from IBSi Payments & Lending Conference 2022

By Leandra Monteiro

IBS Intelligence, the world’s only pure-play Financial Technology research, advisory, and media firm recently held its first in-person conference in over two years on the Payments & Lending world in Mumbai.

In recent times, the lending marketplace has undergone a transformational change, driven and supported by FinTechs. Cross-border lending in APAC continues to rise progressively despite the COVID-19 pandemic. Globally, a mix of traditional and alternative lending channels compete for advantage. Digital lenders have been using non-conventional models to identify customers and assess their credit risk relying on artificial intelligence and big data analytics.

Furthermore, digitisation of the banking industry and developments in new technology have led to customers demanding a seamless experience and real-time payment services.

Finally, the Buy Now, Pay Later model has emerged globally amid an explosion of demand for cost-effectiveness and convenient payment. To truly understand these changes, IBSi invited experts from the industry to share their valuable insights at our recently held IBS Intelligence Payments & Lending Conference 2022.

Among the insights shared during the panel sessions by our high-profile guest speakers,  here are 5  key takeaways were:

• The future of digital payments moves towards a cashless economy

The power dynamics in the payments industry are revolutionising as consumers and businesses seek a real-time digital payment service. Industry experts spoke about the emerging trends in payments and the role technology played in modernising payments.

Experts within the industry discussed their expectations regarding digital payments, the role that e-money and QR codes played in driving the cashless economy in 2022 and beyond. The discussion will also encapsulate the rise of cybersecurity and how it will mitigate/manage risk associated with the rise in the digital economy.

“You have to put cybersecurity first in today’s times,” Bharat Panchal, Chief Industry Relations & Regulatory Officer at Discover Financial Services, shared during the panel discussion on the future of digital payments.

• We can reimagine the credit ecosystem with the use of alternative data

New-age lenders across the globe are broadly leveraging alternative data sourcing engines to expand their customer base. Senior leaders and industry experts at the conference shed light upon their expectations regarding the plethora of market opportunities created by alternative data.

Akshay Mehrotra, Co-Founder & CEO of EarlySalary.com, who was among the speakers, shed light on his expectations regarding the plethora of market opportunities created by alternative data. “The top 10 FinTechs in the country are already holding more business in lending space than credit cards,” he said during a panel discussion.

• The way forward to payments modernisation os real-time transactions

The power dynamics in the payments industry are revolutionising as consumers and businesses seek a real-time digital payment service. The panellists talked about the emerging trends in payments and the role technology played in modernising payments.

“UPI will continue to grow at a phenomenal rate and, at some stage, credit on UPI will be the next trend that will catch on,” Suhail Sameer, CEO of BharatPe shared virtually.

• BNPL is growing into B2B

BNPL has already been creating ripples across the payments and lending space and it is here to stay. Industry experts engaged in insightful conversation around the rise of BNPL and how it will shake things in the B2B sector.

First, in a series of four global events, the IBSi Payments & Lending Conference 2022 exemplified key moments in the future of lending and payments in the post-pandemic world. Our team of expert analysts provided deep, research-backed insights and our guest speakers from market-leading vendors, international banks, and cutting-edge FinTechs shared their valuable experiences and predictions for the future.