Banks and financial institutions worldwide are facing a rapid technological transition enabled by new digital technologies like Big Data, Artificial Intelligence, BlockChain, Distributed Ledger Technology, Machine Learning, etc. Financial technology (FinTech) is one such dynamic sector that is growing at a faster pace with enormous potential for bringing efficiency and cost-effectiveness in intermediation, financial inclusion and retail payment services. During COVID-19, digital mediums and digital payment solutions have grown tremendously.
To discuss pros and cons of FinTech and the opportunities it offers to the field of banking and finance, RIS and India International Centre (IIC) organized a webinar on 23 April 2021. The webinar was successful in raising a debate on important policy issues relating to the adoption, use and regulation of FinTech. In view of this growing interest and provide a fresh, comprehensive and consolidated picture on the subject, we are bringing out this publication comprising of key messages of the panelists of the webinar.
Click here to access the link to the report.