IIM Ahmedabad hosts international research conference on fintech

NEW DELHI: The Indian Institute of Management Ahmedabad's (IIMA), Misra centre for financial markets and economy (MCFME) hosted the ‘International Research Conference on FinTech: Innovation, Inclusion, and Regulation’ on March 10 and 11, 2023.

The main aim of the conference was to bring top researchers, practitioners, regulators in the industry to deliberate on key issues and that the fintech industry has faced in the last few years. New developments such as adoption of payment systems such as UPI and technology driven approaches to lending decision have changed the way Indians transact and borrow, present challenges to traditional banks.

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The two-day event featured three panel discussions and a total of 17 research paper presentations on areas ranging from consumer protection, security and stability to financial inclusion. On the first day of the conference, a discuss on 'balancing fintech innovation and regulation' was held by industry professionals that discussed the current regulations of fintech and their implication on entrepreneurial activity and innovation in the financial sector.

The second day saw paper presentations on various domains of fintech industry along with academic key note adresses on 'digitalisation and finance: opportunities and challenges.' This was followed by two panel discussions- 'finTech experiences in India and the world' and 'fintech and financial inclusion.'

While speaking at the conference, IIMA, Misra Centre for Financial Markets and Economy, chairperson, Sanket Mohapatra, said: "The IIMA Misra Centre, in collaboration with CAFRAL, is pleased to host this unique conference which brings together the RBI, FinTech companies, banks, legal professionals, and researchers. The conference provides a common platform to brainstorm on how to leverage the benefits of fast-evolving financial technologies, how regulations can encourage innovations while protecting the interests of consumers, the role of FinTech startups and established firms in expanding access to financial services to previously underserved populations, the interplay of the UPI retail payments system and the e-Rupee, among many other exciting topics."

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Addressing the gathering, IIM Ahmedabad, director, Bharat Bhasker, said: “The IIMA-CAFRAL FinTech conference comes at an opportune time during India's Presidency of the G20. The G20 Finance Track emphasizes improving financial inclusion through harnessing emerging technologies, improving the financial architecture, digital financial literacy, and bridging the digital divide. The Indian FinTech market is among the top three in the global FinTech ecosystem, along with the United States and China. I am confident that deliberations at this Conference will lead to practical and actionable outcomes that can further strengthen the financial sector and its contribution to India’s ambitions of prosperity for all.”