The future is likely to see ‘Big FinTech’ replace ‘Big Tech’. But this time around, India can be part of the story from the ground up. India has been ahead of the fintech game on the technology, regulatory and consumer fronts.
Fintech refers to a service or product which cuts across technology and finance. Covering everything from blockchain/cryptocurrency and Artificial Intelligence to data and the Internet-of-Things, it is becoming integral to India’s development agenda. This table sets out the various constituents of fintech and the regulations governing them
A G20 discussion around fintech is needed because of the emergence of global technology giants as data intermediaries which are expanding into the financial services industry. This is resulting in regulatory risks and challenges. The panel on Fintech at the official Think20 Mumbai Roundtable, organised by Gateway House on 28 January 2019, could not be more timely
The Think20 Inception conference, held in Tokyo on December 4-5, 2018, kicked off the research process for 2019 for the leading think tanks from G20 countries that work on issues of global economic governance. The author participated in the conference as an observer.
Gateway House hosted a T20 meeting in Mumbai on February 14, 2017 in collaboration with the Kiel Institute for the World Economy and the Ministry of External Affairs, Government of India, with support from GIZ and Siemens India. This was the third time Gateway House hosted a T20 meeting; previous editions were held in 2015 under the Turkish Presidency with the leading Turkish think tank TEPAV, and in 2016 under the Chinese Presidency with the leading Chinese think tanks — Institute for World Economics and Politics, Shanghai Institute for International Studies, and Chongyang Institute for Financial Studies.