Rohit Taneja: India's future lies in the strength and adaptability of its fintech & banking infrastructure
FinTech BizNews Service
Mumbai, December 23, 2023: Rohit Taneja, Founder & CEO, Decentro, India's leading fintech infrastructure company, has shared his studied comments as we stand on the cusp of 2023.
"As we reflect on the challenges and opportunities in the ever-evolving fintech landscape, the need for a resilient infrastructure has never been more pronounced. Amidst rapid technological advancements, shifting regulatory terrains, and evolving consumer preferences, the survival and success of fintech companies hinge on their ability to cultivate a robust foundation. API Banking's $13.8 trillion potential and the transformative power of automation offer a glimmer of hope, but it's the structured infrastructure that becomes the true enabler, providing the agility and innovation needed to navigate through cyber threats, talent gaps, and regulatory developments.
The show-runner in the growth and challenges for India's fintech scene is the RBI regulations to bolster consumer protection and financial stability. The RBI's 2023 regulations aimed to balance fostering innovation and mitigating risks, shaping the direction of a maturing fintech landscape. KYC checks have been tightened, risk weights on retail loans have been increased, and new guidelines on digital lending have been imposed. The most significant development was the proposed fintech repository, which could become a beacon of greater transparency and regulatory oversight.
Decentro stands as a vanguard in this transformative journey, championing the role of structured infrastructure in driving innovation, scalability, and seamless integration of financial services. With our 500+ enterprise customers and $2B+ annual payment volumes flowing through, we feel more responsibility than ever to contribute to the financial ecosystem of India. Looking forward, India’s future lies in the strength and adaptability of its fintech & banking infrastructure. Embracing structured & standard frameworks keeps companies ahead of the curve and positions them as architects of the fintech evolution, propelling the industry into new realms."