Close Menu
fintechbits
  • News
  • AI
  • Acquisitions
  • Trends
  • Insights
  • Rumors
  • Startups
  • finjobsly

Subscribe to Updates

Get the latest news from Fintechbits.

Trending Now

Ways for Businesses to Achieve Financial Benefits Through AI

October 19, 2025

Fundamento, an Agentic AI platform, secures $1.9 million in funding, led by IIFL Fintech Fund and additional investors.

October 19, 2025

Top Innovators in Financial AI Bot Automation with Continuous Integration and Continuous Deployment

October 18, 2025

Leading 7 FinTech Startups in China for 2025

October 18, 2025
Facebook X (Twitter) Instagram
Trending
  • Ways for Businesses to Achieve Financial Benefits Through AI
  • Fundamento, an Agentic AI platform, secures $1.9 million in funding, led by IIFL Fintech Fund and additional investors.
  • Top Innovators in Financial AI Bot Automation with Continuous Integration and Continuous Deployment
  • Leading 7 FinTech Startups in China for 2025
  • Ways in which AI might transform financial markets
  • Recruiter reports that fintech and AI are boosting finance job openings in London in the third quarter.
  • Decentro Launches Omniscore at the 2025 Global Fintech Festival
  • The arrival of AI in finance: Is it effective?
Facebook X (Twitter) Instagram Pinterest Vimeo
fintechbits
  • News

    B2B fintech Yaspa leverages its new regional brand to enter the U.S. market.

    October 16, 2025

    Fintech Employment Boom Stimulates Financial Job Market in London

    October 15, 2025

    European small and medium-sized enterprises face risks while developing AI strategies on unstable digital groundwork, reveals recent Qonto survey.

    October 10, 2025

    PM Modi invites international investors to be part of India’s growth narrative at the Global Fintech Fest.

    October 9, 2025

    What $9.6T Daily FX Trading Means for Fintech Startups

    October 1, 2025
  • AI

    Ways for Businesses to Achieve Financial Benefits Through AI

    October 19, 2025

    Top Innovators in Financial AI Bot Automation with Continuous Integration and Continuous Deployment

    October 18, 2025

    Ways in which AI might transform financial markets

    October 18, 2025

    The arrival of AI in finance: Is it effective?

    October 17, 2025

    An overview of the $1 trillion AI partnerships between OpenAI and Nvidia

    October 17, 2025
  • Acquisitions

    Amazon concludes its acquisition of the Indian lender Axio, expanding its fintech efforts.

    September 11, 2025

    The incident involving the Kaustubh Kulkarni movement in Moomoo

    September 3, 2025

    Overview of Acquisitions for US Fintech Companies from the Clifford Chance Guide

    September 2, 2025

    Dentons guides PEAC Solutions in acquiring Fintech Topi

    August 29, 2025

    Truckstop.com purchases the denim division of the transport finish company

    August 24, 2025
  • Trends

    Vietnam Fintech Market Overview: Trends, Growth Potential, and Future Directions

    October 8, 2025

    Industry size projected to reach 550.9 billion USD

    October 3, 2025

    Germany’s Fintech Market Expected to Reach 29.25 Billion USD by 2030

    October 3, 2025

    Expansion of the Blockchain and Fintech Sectors in Tokenization

    September 30, 2025

    Expansion and Investment Prospects in the GCC Fintech Sector

    September 25, 2025
  • Insights

    The upcoming frontier in managing personal wealth

    October 17, 2025

    India spearheads the fintech revolution with 87% of payments being digital.

    October 16, 2025

    Finance Minister Sitharaman inaugurates foreign currency settlement system in Gift City.

    October 7, 2025

    What $9.6T Daily FX Trading Means for Fintech Startups

    October 1, 2025

    Exploring the Boundaries of Technology: Advantages of the Fintech Sector

    September 30, 2025
  • Rumors

    Is Coinbase exploring a BVNK acquisition to enhance its stablecoin growth?

    October 14, 2025

    Japanese Digital Finance Firm Experiences Rapid Expansion

    October 11, 2025

    American regulators dismiss rumors of a dry CFTC merger, aiming to eliminate fear, uncertainty, and doubt in the cryptocurrency space.

    October 5, 2025

    Insights on OKX Communication Strategies for the Future of BTC Futures

    October 3, 2025

    Has the Texas Senate authorized the XRP reserve bill for purchasing $100 million in XRP annually?

    October 1, 2025
  • Startups

    Fundamento, an Agentic AI platform, secures $1.9 million in funding, led by IIFL Fintech Fund and additional investors.

    October 19, 2025

    Leading 7 FinTech Startups in China for 2025

    October 18, 2025

    Decentro Launches Omniscore at the 2025 Global Fintech Festival

    October 17, 2025

    Fintech Startup Introduces AI Tool to Identify Gold Fraud in Financial Institutions

    October 17, 2025

    Fintech startup Upgrade reaches a valuation of $7.3 billion following a recent funding round

    October 17, 2025
  • finjobsly
fintechbits
Home » Fintech must collaborate with banks to develop scalable, regulatory-compliant solutions: Financial Services Secretary Vivek Joshi
Regulatory Updates

Fintech must collaborate with banks to develop scalable, regulatory-compliant solutions: Financial Services Secretary Vivek Joshi

3 Mins Read
Facebook Twitter Pinterest Telegram LinkedIn Tumblr Email Reddit
1726324282 Photo.jpg
Share
Facebook Twitter LinkedIn Pinterest Email Copy Link
New Delhi: Financial Services Secretary Vivek Joshi on Wednesday urged the financial technology community to work in close coordination with banks so that it is scalable and compliant with regulations Solutions can be designed. Addressing the FICCI-IBA PICUP Fintech Conference, Joshi said that the fintech sector is growing very fast and India has the highest fintech adoption rate compared to the global average.

Noting that fintech has transformed the architecture of the financial sector by providing innovative solutions “I would urge fintechs to work hand in hand with banks, rather than creating a solution themselves and then going to the banks… because banks, especially public sector banks, are dealing with very important and larger problems,” he said.

It would be more appropriate for the bank to suggest the problem and then a solution to be provided by the fintech ecosystem, he said.

“Since you (fintechs) are not working hand in hand with banks, a lot of information about what kind of challenges the banking system is facing may be limited…so that is where we should be working. Many banks have started recruiting startups. So the idea is to tell them the problems and then ask them for a solution that would be very interesting,” he said.

While the potential of fintech is immense, Joshi said the growing use of technology comes with challenges.


“Digital growth “Fintech has posed some unique challenges such as governance issues, regulatory and statutory compliance, consumer protection and fair practices. It is essential to strike a balance between fintech innovation and rapid regulatory response,” he said. It is also equally important to ensure that innovation does not outpace necessary safeguards, he said, adding: cybersecurity, data privacyidentity theft, digital finances fraud Financial education and skill training are other areas that need attention. Commenting on the budget announcement, Joshi said banks should develop new models to provide loans to MSMEs.

Rather than depending on balance sheets or returns generated by MSMEs, he said, the new model will depend on the digital footprints created by MSMEs, especially micro and nano ones.

“I think fintechs can play a role in helping banks improve their digital lending capabilities,” he said.

Given the large and growing market size, he said, there are huge opportunities for the fintech sector, owing to the growing contribution of the MSME sector to exports.

With the growing internet user base in India and the conducive regulatory and policy environment, there is huge potential for all entrepreneurial ventures, including fintechs, he said.

Joshi added that emerging technologies hold immense potential for the sector to improve the quality of services, enhance security measures and increase the efficiency of the entire sector.

Speaking at the event, Indian Banks’ Association (IBA) CEO Sunil Mehta said fintech has revolutionised the sector. payment space and now it is time for the industry to transform the lending space.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

ABA President urges regulatory changes to align Azerbaijan’s fintech industry with international standards.

October 9, 2025

Kirkland Welcomes McDermott’s Fintech Compliance Expert

October 6, 2025

Revolutionizing the Crypto Payroll System for Fintech Startups

October 6, 2025
Leave A Reply Cancel Reply

Latest news

Ways for Businesses to Achieve Financial Benefits Through AI

October 19, 2025

Fundamento, an Agentic AI platform, secures $1.9 million in funding, led by IIFL Fintech Fund and additional investors.

October 19, 2025

Top Innovators in Financial AI Bot Automation with Continuous Integration and Continuous Deployment

October 18, 2025
News
  • AI in Finance (1,743)
  • Breaking News (175)
  • Corporate Acquisitions (71)
  • Industry Trends (207)
  • Jobs Market News (312)
  • Market Insights (218)
  • Market Rumors (281)
  • Regulatory Updates (174)
  • Startup News (1,137)
  • Technology Innovations (181)
  • X Feed (1)
About US
About US

FintechBits is a blog delivering the latest news and insights in fintech, finance, and technology. We cover breaking news, market trends, innovations, and expert opinions to keep you informed about the future of finance

Facebook X (Twitter) Instagram Pinterest Reddit TikTok
News
  • AI in Finance (1,743)
  • Breaking News (175)
  • Corporate Acquisitions (71)
  • Industry Trends (207)
  • Jobs Market News (312)
  • Market Insights (218)
  • Market Rumors (281)
  • Regulatory Updates (174)
  • Startup News (1,137)
  • Technology Innovations (181)
  • X Feed (1)
Happening Now

November 28, 2024

“ Intentionally collaborative ”: how the Rotman school of U of T leads Innovation Fintech

February 6, 2025

‘1957 Ventures’ to Drive FinTech Innovation in Saudi Arabia

September 10, 2024
  • About FintechBits
  • Advertise With us
  • Contact us
  • Disclaimer
  • Privacy Policy
  • Terms and services
  • BUY OUR EBOOK GUIDE
© 2025 Designed by Fintechbits

Type above and press Enter to search. Press Esc to cancel.