GFF is an annual circus show for Financial Services professionals, founders & entertainers. Hence, I chose to wear my customary Papa Pump outfit (IYKYK, comment below). I spent most of my two days in meetings (managed to get 17 done!) and a bit of time at the exhibition booths;
(1) AI first collections agencies are emerging 🗣️ - Lazy VCs wrote this space off when Credgenics raised a $50M Series B from WestBridge in August 2023 - Collections is evergreen - stress emerges in each pocket at different times (e.g. unsecured PL, MFI etc) - Due to competition
(2) Lots of activity in MFD roll-up & tech enablement 🏦 - Everyone’s uncle wants to build the new age Prudent (NSE:PRUDENT) - The thesis is “priced in” - the next gen of MFDs are digitally savvy and/or are based in non-metro cities; they need training & then tenure to build
(3) AI for Fraud, Risk & Compliance is the new hot thing 🛡️ - I stood at the Modus AI stall for 45 minutes, I couldn’t get a straight 2 min conversation with the founders - As BFSI in India continues on its digitization march (10% of OPEX on IT); risks are now piling up and the
(4) Voice AI for BFSI is still in mirky waters 🤔 - Everyone has seen compelling demos of Navana AI (with Bajaj Finance), GrayLabs AI (with RBL Bank) & a few others - But when you go into closed rooms or have 1-1 conversations, all the Qs still pop-up: Latency, Risk,
(5) Everyone wants to solve for Wealth mgt of the “Messy Middle” 👛 - The Messy Middle is neither Retail (sub ₹25L AUM) nor HNI (above ₹5 crore AUM); they are not even the “Emerging Affluent” (₹2 crore to ₹5 crore). - This ₹25L to ₹2 crore AUM is a Messy Middle - you need
Despite whatever the Internet clowns tell you - if you’re building anything for BFSI in India, you have to pay homage at this event. If you’re out of sight (here), you are out of mind (for the rest of the year). Until GFF 2026 👍Back to chasing some AI companies who don't