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The Reserve Bank of India (RBI) has released a draft framework for Self-Regulatory Organisation(s) in Fintech Sector (SRO-FT), thereby recognizing the pivotal role which fintechs play in redefining financial services by saving time, enhancing access, and lowering costs. Self-governance in the sector will help flourish innovation at the same time keep a check on it. Click on the below link for more info: https://lnkd.in/dkkTzduk #reservebankofindia #fintech #compliance #digitalpayments

The Asian fintech landscape is rapidly evolving with a shift in the funding environment towards sustainability and a focus on robust business models for businesses. Regulatory frameworks are adapting to balance innovation, stability, and consumer protection. Discover how #AlDigi can assist you in navigating this changing landscape. Our team collaborates closely with clients, providing sound and practical advice to plan and execute corporate strategies. #fintechsolution #advisory https://lnkd.in/gieabtaX

My 2019 take on Fintech's role in financial inclusion discussed the role of disruptive innovations, such as novel communication paradigms, smartphone-based payment gateways, leveraging social currency, introducing location/image-based credit scoring models, and de-risked credit, in enabling and augmenting value architecture as well as defining and refining underlying organisational logic. The findings are based on CGAP Case Studies and are as relevant today as they were earlier!

The future of Asian FinTech appears bright, albeit with a need for a balanced approach. With a focus on innovation, financial inclusion, and security, Asian FinTech is poised to continue its trajectory of transforming the financial services landscape, not just in Asia but globally. #fintech #innovation #finance #asiapacific #ai #security #machinelearning

Demystifying Fintech vs. Techfin: Insights from Jitesh Agarwal's Discussion with Good Returns Our founder, Jitesh Agarwal, recently in an interview with Good Returns highlighted the distinctions between FinTech and TechFin, particularly within the Indian market. This article delves deeper into the key takeaways from that conversation, helping you gain a clearer understanding of these two evolving sectors. https://lnkd.in/g_aWebwn

Singapore: MAS establishes Global Finance & Technology Network to propel FinTech growth: ... FinTech ecosystem and drive greater synergies and networks with the global FinTech community. GFTN will work with MAS to advance industry and ...

Exciting news for the FinTech sector! Yesterday, the Reserve Bank of India (RBI) has finalized the framework for Self-Regulatory Organizations (SROs) in FinTech. This is a big step forward in fostering innovation while ensuring consumer protection. In January 2024, RBI had issued draft norms for fintech SROs and sought feedback from stakeholders. (https://lnkd.in/deQuPHUS) The framework is designed to enhance regulatory compliance and promote best business practices among regulated entities (REs) through SROs. Key points from the guidelines include: Structure and Registration: SROs must be not-for-profit companies registered under Section 8 of the Companies Act, 2013. Membership in SROs will be voluntary. Responsibilities and Standards: SROs are tasked with establishing minimum benchmarks and professional conduct standards for their members. They aim to improve regulatory compliance and industry standards by leveraging the expertise of practitioners. Oversight and Objectives: SROs will operate under the RBI's oversight, focusing on credibility, objectivity, and responsibility. Their primary goal is to ensure better compliance with regulatory guidelines, protect stakeholder interests, foster innovation, and detect early warning signals within the industry. Existing SROs: Current SROs recognized by the RBI will continue to operate under their existing terms unless specifically brought under this new framework. SROs will play a key role in: - Promoting ethical conduct among FinTech companies - Developing a code of conduct for the sector - Establishing a grievance redressal mechanism - This collaborative approach between regulators and industry can help FinTech flourish responsibly. Feel free to share your thoughts on how SROs can contribute to a thriving FinTech ecosystem! #FinTech #FinTechSRO #SRO #FintechRegulation #Regulator

We believe that FX & cross border payments should be distributed markets by design - on this regulators, businesses, and consumers agree. Regardless of the fact that every SME is unique and we don't think that any well funded fintech is going to come along and solve every use case, every payment corridor, and for every credit profile. We also don't want to see the digital version of a Too Big To Fail financial institution 💣 While all of our competitors built an API first strategy and outsourced much of their operational & compliance issues to larger fintechs and banks, we've focused on helping traditional players, who often don't have technical resources to use APIs, to get the benefits of modern technology and application design embedded into their operation. The results have been incredible for their operational and compliance effectiveness & efficiency. As we grew, more fintechs wanted to use our services, and the lack of scalable & reliable APIs became a barrier to leveraging our platform. In 2023 we partnered with the Bound team to build out APIs to access our platform & back office services so they could focus more of their valuable resources on their mission of making currency hedging as simple and flexible as possible for their customers. In 2024 we're continuing to invest in our API suite: expanding coverage, reducing latency, and planning for second order APIs such as low latency trade execution over REST API with embedded pre-trade credit checks. Today we're proud to launch our Fintech offering on our website knowing that we have the market leading solution for the most disruptive foreign exchange startups in the world. If you're an ambitious startup founder or an experienced MSB operator looking to digitize your infrastructure for your long term growth, don't settle for an expensive outdated legacy solution. There is a better way... https://lnkd.in/gu7AKXeU #foreignexchange #fintech #apis

We explore the future of the fintech landscape in Southeast Asia in 2024 and how it is evolving in the coming months.

We all need some light shed on the state of Fintech in 2023 and some prospective glimmers of insights towards 2024, if this is you then give this a read.