Finance Academy: AI Week

“Sometimes it is not about the money, but rather the process of

managing Money”
Learnings:
(9:05 – 9:24) – Mrs. Ripsy Bondia
Clarity between the terms Accounting and Finance. Accounting is basically a
language which is just an input to Finance. And Finance on the other hand is not
just the number thing but it is the important representation of Decision making. It
is more into technical rather than just balance sheets and other statements.

Types of Finance –

 Corporate Finance – Decision making at corporate level where first step of all
ventures is to raise funds and to know from where exactly they are getting their
funds. Also, to bracket on to their personal finance as well.
 Behavioral Finance – How people tackle with money related situations where
given choices at stake with risks.
 FinTech – Combination of Finance & Technology. Have grown is short period
of time with ample of options to go for a single transaction.

(9:30-10:15) -- Game Stimulation

Buildyourstax.com - To invest is to allocate money in the expectation of some

benefit in the future. In finance, the benefit from an investment is called a return.

Rules:
 In Stax you have 20 years (20 minutes) to make some money.
 After every 6 months, your pocket cash will get refill with money ($4000)
which you can invest.
 There are total 7 different investment opportunities you can unlock through
game. Starting with Bank.
 When your new investment is unlocked, it will open a lesson to explain how it
works.
 If in case you still want to know how particular investment works after starting
game. You can click on question mark on the right upper corner of every
investment.
 You can view your portfolio in the sidebar and check the leader board to see
who is winning.

Initially, our peers were struggling with the main theme of the game but later
on, they started to enjoy the game and very excited about Stock market segment
of the game. And at the end, we got our winners of the same.
1. Saket
2. Sushant
3. Daljeet

(10:25-10:55) – Presentation
Finance AI prepared a short ppt on the topic FinTech.

FinTech is a combination of Finance and Technology. It refers to business that

uses technology to enhance or automate financial services and processes. The term
is a broad and rapidly growing industry serving both consumers and businesses.

Usage of FinTech in different sectors –

 Banking
 Insurance
 Payments
 Lending
 Investments and Savings
 Cryptocurrency

Evolution of FinTech –
 1950 – First Credit Card by Diners Club
 1960 – First ATM in Barclays
 1970 – Electronic Trading by Nasdaq
 1980 – First Online Brokerage
 1990 – Online Banking Website
 2000 – Paypal Debut
 2010 – Cloud, Digital Customers, Bitcoin Debut
 2020 – Block Chain, AI&MI Tools, Open Banking

Different FinTech Companies –

 Zerodha - India's biggest stock broker offering the lowest, cheapest brokerage
rates for futures and options, commodity trading, equity and mutual funds.
 PayTm - PaytmKaro for instant payments via UPI using any bank account (No
KYC needed) or Paytm wallet.
 Lendingkart - The Company has developed technology tools based on big data
analysis which facilitates lenders to evaluate borrower’s creditworthiness and
provides other related services.
 IndMoney - A Supermoney App that brings all the family's money in one app.
Aim is to enable to track, save and earn extra by automatically bringing the
entire financial life across investments, loans, credit cards & taxes, all in one
app.
 Cred - An initiative of Kunal Shah, founder of FreeCharge. The app aims to
make paying credit card bills simpler and reward you for paying them on time

(11:00-11:25) – Presentation
A short quiz was organized by Finance AI. We didn’t want to put very heavy
accounting questions so we tried to keep it very general to indulge maximum
participation.
And our peers found it pretty interesting.
(11:30-11:55) – Casestudy

 Finance AI organized a small caselet created by Abha and Swastika.

 Everyone was struggling with the case study but overall it was informative and
interactive.
 Our Peers had some queries regarding the entries but they were able to crack
them.
 Although, due to time Restriction, They were not able to complete the case
study but they had a very engaging session.

Shivani Teckchandany, L&D Lead, Wipro

Training and development lead, Wipro explained how Businesses swiftly changed
from office culture to work from the home culture in the blink of an eye. The
Banking and financial institutions who followed a rigorous method of evaluations
and strict cultures had to change their mode of communication regarding the
confidentiality clauses. The main reason why WIPRO continues to succeed in the
pandemic is because of their business agility, how positive opportunities grabbed
nicely, and the investments made at correct spots enhanced credibility and are in
terms of consolidating their business. She focused on how her company continued
hiring new skilled resources from the unexplored tier 2 and tier 3 cities for working
from home. The Work from Home culture requires a correct attitude in terms of
behavioral aspects, easy virtual communication, and recognition of talent. The
logistics that requires the resources to travel for job and interviews nullified in the
upcoming culture with the importance of technical know-how of the work process.
The fresh candidates would be required to accept the checker concept aka being the
domain export in Business Analysis, Business Analytics, and data analysis. It is a
persuasive process with better growth opportunities. All in all, she focused on how
the job cultures are facing a dynamic shift towards the re-skilling and up-skilling of
the workforce regularly.
Apurva Pundir, AD HR KPMG

He serves KPMG as an Assistant Director in the Human Resources Segment.

KPMG being a service company was already changing its norms and methodology
of working slowly for some time, and pandemic proved to be a plus point for them
to immediately shift to a more challenging yet satisfactory environment. The
COVID scenario proved to a positive impact on the consulting firm; although the
clients are less because of the phase they are doing better than previous months.
The broad aspect is that the government structures are getting changed in their
favor providing them better and new opportunities to boost their work boundaries.

They are yet to increase or normalize the hiring systems as they need some more
time to rely on AI, but they have been passionate about a rigorous assessment entry
of employees. He also mentioned the up-skilling and re-skilling of the existing
workforce and the new people joining in. The list of requirements a potential
employee must have are programming, management skills, data, and business
analysis.

Sangam Chhabra, Senior Analyst, Goldman Sachs

Currently serving as a Senior Analyst at Goldman Sachs. He shared insights on the
importance of reading more and finding what we like to do, which was eye-
opening and intimidating. Further, he discussed about the importance and rising
power of Automation and how the world is changing because of this. He discussed
about the constant usage of Biometrics and how cars start with smartphones now.
He also talked about how the dependency upon jobs is decreasing with every
passing day and skill development is the need of the hour. After hearing him many
students were inspired by his career journey because even though he did not have a
degree in Data Analytics he was able to succeed in that career.

Summary
Starting with the day ripsy maam explained us the difference between accounting
and finance. We got to know about the various fields of finance. Then we learned
about different types of investments with the help of a simulation game called
STAX. We increased our knowledge on financial world with the help of Quiz.
Later on we got a clarity about what fintech is; and a detailed knowledge about
various fintech companies like Zerodha, Paytm, Cred and Lendingkart. We learned
about basic accounting transactions with the help of a caselet. In the panel
discussion we learned about the skills required in future that we need to develop in
ourselves. The last speaker shared insights from his journey as an Advance data
analyst and we learned the importance of reading daily to be successful in life.