The Center for South Asian Studies, Seoul National University Asia Center, Seoul National University, will co-host the “Korea–India AI Financial Inclusion Conference” with AFINIT on September 9 in a hybrid format connecting Seoul and Delhi/NCR. The conference will bring together representatives from AFINIT, the Center for South Asian Studies at Seoul National University Asia Center, the Faculty of Management Studies, Delhi School of Economics, and the Financial Services Commission. The event will be held in a hybrid format, with invited participants joining online and on-site in Seoul and Delhi according to the conference schedule.

This event is being held to promote discussion on the characteristics and future growth potential of India’s expanding private financial market, particularly fintech services, and to expand exchanges between the Korean and Indian markets. In particular, it aims to explore future directions for social contribution by examining how AFINIT’s business strategy, through its AI fintech platform TrueBalance, has contributed to strengthening financial inclusion.

This conference is significant because it is a rare attempt to examine the business strategies of private fintech companies within the framework of academic research and policy discussion. It is expected to become a new example of public-private-academic cooperation, as it presents a practical model of financial cooperation between Korea and India, with Seoul National University, Indian academic and industry participants, and representatives from Korea’s financial authorities coming together.

In particular, the conference will also focus on the insurance sector, which has been relatively underexplored in India’s financial inclusion policy. It will consider policy recommendations for how AI-based financial technologies and alternative credit assessment may help address the needs of financially vulnerable groups, including thin-file users with limited formal credit histories, and how such approaches could support wider access to financial products such as insurance.

The event will be held in a hybrid format consisting of a Seoul session and a Delhi panel session, and will continue from 1:15 PM to 5:10 PM Korean time, corresponding to 9:45 AM to 1:40 PM local time in India. The Seoul session will feature opening remarks by Professor Kang Sung Yong, Director of the Center for South Asian Studies at Seoul National University Asia Center, followed by inauguration remarks by Lee Cheol-won, CEO of AFINIT, and a keynote address by Mr. Hwa Se Oh of the Financial Services Commission (FSC), Republic of Korea. Dr. Aditi Singh will present the project discussion.

The Delhi panel session will focus on the theme “Emerging Role of NBFCs in India.” Professor Narain from the Faculty of Management Studies, University of Delhi, will moderate the session. Professor Ram Singh from the Delhi School of Economics, Sugandh Saxena, CEO of the Fintech Association for Consumer Empowerment (FACE), and Puja Mehra, a journalist with Mint, will participate as presenters to discuss the current state of the Indian financial market and the social applicability of AI finance technology.

Professor Kang Sung Yong said, “Through this conference, we plan to widely publicize the social significance of the financial cooperation project between Korea and India.”

Review

이번 학술행사에서는 인도의 금융포용 확대 과정에서 비은행금융회사(NBFC)와 디지털 금융이 수행하는 역할을 중심으로 다양한 논의가 이루어졌다. 특히 기존 은행권의 금융서비스에서 소외되어 온 MSME와 저소득층, 금융이력이 부족한 이른바 ‘thin-file’ 이용자에 대한 신용 접근성 확대가 주요한 쟁점으로 다뤄졌다. 이와 함께 AI와 대안적 데이터를 활용한 신용평가, 디지털 담보, 디지털 대출의 발전 가능성과 금융포용에 대한 활용 방안이 논의되었다. 또한 금융포용을 단순한 금융 접근성의 확대가 아니라 신용, 보험, 금융회복력까지 포함하는 개념으로 확장하고, 지역별 여건과 현지 금융기관을 고려한 ‘last-mile’ 전달체계의 중요성도 제시되었다. 이번 행사는 인도의 금융포용이 빠르게 디지털화되는 과정에서 기술적 혁신과 함께 소비자 보호, 데이터 거버넌스, 제도적 기반을 어떻게 조화시킬 것인지 살펴보는 자리였다는 점에서 의미가 있었다.