Mumbai, April 30, 2025: The 3rd CXO Meet, organized by Grameen
Foundation for Social Impact (GFSI) in association with the Business
Correspondent Federation of India (BCFI) and supported by Gates Foundation,
concluded successfully on April 26 at Windflower Resort & Spa, Goa. Held
over two action-packed days, the convening brought together leading voices from
the worlds of fintech, banking, policy, and development to chart a bold and
collaborative course for the future of assisted digital finance.
Reimagining the Future: Beyond Basics
Held
under the theme “Financial Inclusion 2.0: Next is Now – Innovating for
Resilience, Sustainability, and Growth,” this year’s CXO Meet focused on the
next chapter of financial inclusion—one defined by ecosystem resilience,
inclusive design, and technology-enabled delivery. Discussions moved beyond the
foundational role of BCs and explored how the assisted model can evolve to
address emerging challenges, including digital fraud, stagnant agent viability,
and the need for diversified services at the last mile.
Purpose-Driven Dialogue and Groundbreaking Ideas
In
her welcome address, Bharati Joshi, CEO, GFSI, reflected on the complexity of
the environment in which decisions have to be made keeping the triple bottom
line in mind: “We are living in difficult times, a truly VUCA world. The new
trinity of JAM, UPI and ULI will need the life force of Ingenuity, Humility,
and Perseverance to succeed. The spectres of digital fraud and financial abuse
can be tackled with a more intimate understanding of those we seek to serve,
even as we move towards 'Don't Know Your Customer' in the digital space.”
Sunil
Kulkarni, CEO, BCFI, echoed this sense of urgency, noting that the evolution of
financial tools must be matched by renewed focus on trust, compliance, and
sustainability. “The assisted model and the 2 million agents strong BC channel
are critical touchpoints for India’s digital leap in sub-urban and rural
“Bharat”. It has reached an inflexion point, where their viability and success
would depend on introducing new services by strengthening foundations and
deepening banking & non-banking partnerships beyond cash servicing,” he
said.
Highlights from CXO Meet 2025
Over
the two days, participants engaged in expert-led dialogues, masterclasses, and
interactive forums. One of the key sessions featured a thought-provoking
conversation between Ms. Sai Sudha Chandrasekharan (CEO, SRO-FT Development
Foundation) and Mr. Sunil Kulkarni (CEO, BCFI), exploring the potential role of
the proposed Self-Regulatory Organisation for Fintech (SRO-FT) in enhancing
governance and standardization of processes in the BC industry.
A
masterclass on Artificial Intelligence, delivered by PeoplePlus.AI, followed AI
Technology showcase by innovation partners from BuckBox and Bolofy, showcased how
AI and design thinking can align with business outcomes in agent networks.
Attendees participated in working group sessions focused on fraud mitigation,
regulatory compliance, and agent business models, generating actionable ideas
rooted in operational realities. Attendees were also taken on a walk through of
the Innovations program by Mr. Rahul Dube (Project Director, Innovations
Project, GFSI) and Mr. Saurabh Singh (Senior Program Manager, Innovations
Project, GFSI). This also included a product showcase by Scanbo and EasyPay.
A
live walkthrough of the GIS Dashboard illustrated how data-led decision-making
can strengthen BCNM operations and expand services to underserved regions. An
open forum brought BC leaders together to discuss product bundling, merchant
acquisition, and new service lines. Finally, an ONDC showcase presented by Ms.
Nandita Sharma explored how BCs can act as digital enablement agents to
unlock rural commerce opportunities.
Vision Forward: From Insight to Action
The
CXO Meet 2025 positioned itself not just as a platform for knowledge exchange
but as a catalyst for tangible change. With participation from CXOs,
regulators, fintech’s, NGOs, and donors, the convening offered a 360-degree
view of what’s next for the BC model.
The
meet concluded with a resolve to further action over 2025-26 along five
themes, for which Thematic Working Groups have been formed:
- Fraud and Grievance Redress
- Agent Business Models
- Beyond-CICO Innovations
- Regulatory Alignment
- Promoting Gender inclusion and
addressing Financial Abuse (especially that perpetrated against women)
These
working groups will serve as long-term collaborative spaces to translate
insights into systemic action. GFSI and BCFI reiterated their commitment to
anchoring these dialogues within the Community of Practice (CoP) and
advancing inclusive financial models that are scalable, sustainable, and
future-ready.
About GFSI
The Grameen Foundation for Social Impact
(GFSI) is a not-for-profit organization registered under Section 8 of the
Indian Companies Act. Grameen’s global strategy strategy—Invest in HER
Power—focuses on integrated and scalable approaches to empower women and
underserved communities. GFSI’s work spans four themes: Agriculture and
Livelihoods, Women’s Entrepreneurship, Innovations in Digital Finance, and
Health and Nutrition. GFSI leads with Gender and transforms through Finance,
Innovative Partnerships and Technology to achieve its Mission of Enabling the
poor, especially women, to create a world without poverty and hunger.
About BCFI
The Business Correspondent Federation of
India (BCFI) represents over 60 Corporate BC entities with a collective reach
of more than 2 million Customer Service Points (CSPs) across India. BCFI
champions responsible finance through the last mile and has played a pivotal
role in strengthening the BC model—especially during the pandemic, where BCs
were recognized as essential service providers and COVID warriors by the
Government of India.
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