{"id":58917,"date":"2024-08-31T12:00:46","date_gmt":"2024-08-31T12:00:46","guid":{"rendered":"https:\/\/english.saigonbiz.com.vn\/2024\/08\/31\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/"},"modified":"2024-08-31T12:00:46","modified_gmt":"2024-08-31T12:00:46","slug":"global-fintech-fest-2024-showcases-wide-spectrum-of-innovations","status":"publish","type":"post","link":"https:\/\/english.saigonbiz.com\/vn\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/","title":{"rendered":"Global Fintech Fest 2024 Showcases Wide Spectrum of Innovations"},"content":{"rendered":"
\n

Three-Day Mega Event Concludes, Attracting 300 exhibitors from across the world, 100000 Footfalls, 1000 Speakers<\/i><\/b><\/p>\n

MUMBAI, India<\/span>, Aug. 31, 2024<\/span> \/PRNewswire\/ — India’s<\/span> Union Minister of Commerce and Industry Mr. Piyush Goyal\u00a0said on Friday that the Indian fintech\u00a0ecosystem had turned into a hotbed for innovation. Addressing the Global Fintech Fest\u00a02024 in Mumbai<\/span>, he said, “As our country is poised to become the third largest economy, the success story of a developed India<\/span> rests on the wonderful work being done by fintech\u00a0sector.”<\/p>\n

The Global Fintech Fest (GFF) 2024 was presented by the Ministry of Electronics and Information Technology (MeitY), Ministry of External Affairs, Department of Financial Services (DFS), Reserve Bank of India<\/span> (RBI) and International Financial Services Centres Authority\u00a0(IFSCA). The conference was jointly organised by the Payments Council of India<\/span> (PCI), the National Payments Corporation of India<\/span> (NPCI), and the Fintech Convergence Council (FCC).<\/p>\n

GFF 2024 featured over 1000 speakers from 70 countries, more than 350 sessions, over 60 product launches, more than 300 exhibitors, and attracted 100,000 footfalls over the three days.<\/p>\n

The Global Fintech Fest (GFF) 2024, one of the world’s largest fintech gatherings, concluded here on Friday, August 30<\/span>, showcasing emerging opportunities and issues in the sector. The three-day event, in its fifth edition, brought together global policymakers, regulators, central bankers, industry leaders, and academicians to explore the future of financial technology, aligned with this year’s theme- ‘Blueprint for the Next Decade of Finance: Responsible AI | Inclusive | Resilient’.<\/p>\n

In his keynote at the conference,\u00a0Mr. Shaktikanta Das, Governor, Reserve Bank of India<\/span>, said, “India<\/span> is now a fast-growing economy, economic powerhouse with an increasingly tech savvy population. India’s<\/span> financial sector has witnessed a remarkable transformation, driven, among other factors, by the FinTech sector.”<\/p>\n

Mr. Das further emphasized India’s<\/span> engagement in international fora and bilateral agreements to foster economic cooperation with many countries and said, “Going forward, strengthening financial infrastructure, including cross-border payment systems, will be our key focus areas. India<\/span>, with its tech talent and evolved financial fintech ecosystem, holds potential to serve as a global hub for digital innovation and fintech startups.”<\/p>\n

Mr. Christopher Waller<\/span>, Member, Federal Reserve Board of Governors of the United States\u00a0in his address, highlighted the potential role of public and private sectors in advancing cross-border payments. Commenting on the practical aspects of interlinking fast payment systems, Mr Waller said,<\/b> “Domestic networks need to be developed first. If this condition is not in place, interlinked networks could end up being a road to nowhere.”<\/p>\n

Highlighting Federal Reserve’s efforts, Mr Waller added,\u00a0“We will continue our engagement with international fora to improve the speed and efficiency of cross-border payments and to investigate the issues critical to interlinking payment systems. Our chief focus in the near-to mid-term, however, is continuing to build the FedNow network domestically and increasing participation in the service.”<\/p>\n

In a special address on emerging trends in sustainable finance,\u00a0Mr. Allen Forlemu<\/span>, Regional Industry Director, Financial Institutions Group, Asia<\/span> and Pacific, International Finance Corporation (IFC)\u00a0discussed the critical role of fintech in driving sustainable finance, emphasizing its importance for a greener and more equitable future. “Looking ahead, it is clear that collaboration will be essential and fintech companies, traditional financial institutions, governments and regulators must work together to scale sustainable finance solutions and amplify positive impact on sustainability”,\u00a0remarked Mr Forlemu.<\/p>\n

He further said,<\/b>\u00a0“At IFC, we are optimistic, and we believe that by investing in innovation and fostering collaboration across sectors, we can build a financial system that is inclusive, resilient and sustainable for everyone.”<\/p>\n

Discussing ‘Recent Developments in Digital Finance – Experiences from German and EU Regulation,’ Dr. Florian Toncar<\/span>, Parliamentary State Secretary, German Federal Ministry of Finance,\u00a0commented, “India<\/span> has shown immense capacity to innovate and spread new technologies at an impressive speed, with UPI being popular far beyond Indian borders.”<\/p>\n

Highlighting the importance of cooperation between security agencies and anti-money laundering agencies, Dr Toncar added, “Appropriate resourcing of prosecutors or police, specialized financial investigators, and information exchange across borders and countries is key.”<\/p>\n

In his special address, Mr. Harjinder Kang<\/span>, His Majesty’s Trade Commissioner for South Asia<\/span> and the British Deputy High Commissioner for Western India<\/span>, UK Department for Business and Trade,\u00a0said, “UK finds India<\/span> as a very important partner, and it’s not just in fintech, but across different sides of the business.”<\/p>\n

During a panel on ‘Innovation in Fintech Regulation: Balancing Innovation and Regulation in Global Financial Services,’\u00a0Mr. Ryosuke Ushida<\/span>, Chief Fintech Officer, Financial Services Agency of Japan\u00a0provided insights into the country’s regulatory landscape and said, “In Japan, our regulatory scope covers a wide range of financial institutions, including banks, insurance companies, investments, and currency exchange. A key focus has been on blockchain technology, in response to past challenges, particularly incidents involving exchanges in Tokyo. Japan<\/span> has established a comprehensive regulatory framework for the crypto industry.”<\/p>\n

Mr. Ushida further emphasized that these regulations are designed not only to protect the industry but also to create a stable environment that encourages innovation. “The goal is to support the growth of international tech companies and ensure that Japan<\/span> continues to lead in this field, in line with global counterparts”, <\/i>he added.<\/p>\n

Addressing the session on ‘The Role of Technology in Shaping the Future of Global Finance,’ Mr. Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore,\u00a0said, “The challenges of integrating DPIs across borders\u2014from pricing to technical standards\u2014are significant. Initiatives like Project Nexus are underway to tackle these issues, but achieving seamless connectivity across different markets will take time.”<\/p>\n

Mr. Mohanty added, “Fintech must expand beyond payments and lending to include other asset classes such as wealth advisory and capital market infrastructure.”<\/p>\n

GFF 2024 also featured a significant global presence, with numerous international leaders contributing to the dialogue on the future of fintech. Among the notable speakers were Mr. Camilo Tellez-Merchan<\/span>, Deputy Managing Director, UN based Better Than Cash Alliance, United Nations; Mr. Alan Lim<\/span>, Director, FinTech Infrastructure Office, Monetary Authority of Singapore<\/span>; Mr. Paul van Sint Fiet<\/span>, Head of APAC cross-currency solutions, J.P. Morgan Payments; Mr. Edward Bass<\/span>, Inward Investment Manager, UK Department for Business and Trade; Mr. David Finch<\/span>, Global Managing Director Fintech, TransUnion CIBIL, and Mr. Jan Pilbauer, Chief Executive Officer, Al Etihad Payments<\/span>.<\/p>\n

The event also saw eminent leaders from the Indian fintech ecosystem. For more information about the conference, visit: Global Fintech Fest 2024.<\/a><\/u><\/p>\n

For further information, please reach out to:
<\/b>Vipin Chanddra, APCO: +91-9582 731432
Kuldeep Singh<\/span>, APCO: +91- 97113 06379<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Three-Day Mega Event Concludes, Attracting 300 exhibitors from across the world, 100000 Footfalls, 1000 Speakers MUMBAI, India, Aug. 31, 2024 \/PRNewswire\/ — India’s Union Minister of Commerce and Industry Mr. Piyush Goyal\u00a0said on Friday that the Indian fintech\u00a0ecosystem had turned into a hotbed for innovation. Addressing the Global Fintech Fest\u00a02024 in Mumbai, he said, “As […]\n","protected":false},"author":1,"featured_media":79226,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-58917","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pr-newswire"],"yoast_head":"\nGlobal Fintech Fest 2024 Showcases Wide Spectrum of Innovations - Biz and Live in Saigon<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/english.saigonbiz.com\/vn\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Global Fintech Fest 2024 Showcases Wide Spectrum of Innovations\" \/>\n<meta property=\"og:description\" content=\"Three-Day Mega Event Concludes, Attracting 300 exhibitors from across the world, 100000 Footfalls, 1000 Speakers MUMBAI, India, Aug. 31, 2024 \/PRNewsw\" \/>\n<meta property=\"og:url\" content=\"https:\/\/english.saigonbiz.com\/vn\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/\" \/>\n<meta property=\"og:site_name\" content=\"Biz and Live in Saigon\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/SaigonbizGroup\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-31T12:00:46+00:00\" \/>\n<meta name=\"author\" content=\"admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/\"},\"author\":{\"name\":\"admin\",\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/#\/schema\/person\/267b348e6cf32a66aab33637c2d399a6\"},\"headline\":\"Global Fintech Fest 2024 Showcases Wide Spectrum of Innovations\",\"datePublished\":\"2024-08-31T12:00:46+00:00\",\"dateModified\":\"2024-08-31T12:00:46+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/\"},\"wordCount\":1075,\"publisher\":{\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/#organization\"},\"articleSection\":[\"Pr Newswire\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/english.saigonbiz.com\/vn\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/\",\"url\":\"https:\/\/english.saigonbiz.com\/vn\/global-fintech-fest-2024-showcases-wide-spectrum-of-innovations\/\",\"name\":\"Global Fintech Fest 2024 Showcases Wide Spectrum of Innovations - 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