Fintech Experts Advocate for Cohesive Regulatory Framework Amid Rapid Digitalisation of Finance

Fintech experts emphasized the importance of adapting regulatory frameworks to the swift pace of technological advancements during a two-day international conference titled “Harmony in Digital Finance and Legal Perspectives.”

Organized jointly by the research and development department at Saveetha School of Law and the Indian Academic Researchers Association (IARA), the conference brought together experts to discuss the opportunities and challenges presented by the rapid digitalization of finance.

V Venkatesan highlighted the integration of digital finance transactions with legal security, tracing the evolution from the creation of the first digital calculator in 1961 to the internet era of the 2000s.

C Paramasivan emphasized the transformative impact of the digital era on digital currencies and fintech, stressing the need for robust laws to address fraud and scams.

Other speakers, including V Appa Rao, AMM Mustafa, S Muralidhar, S Theenathayalan, K Sadasivam, and K Nagavani, addressed various aspects of digital finance, artificial intelligence, cyber threats, and government initiatives.

They underscored the importance of a cohesive regulatory framework to navigate the convergence of technology and finance, ensuring legal compliance and ethical practices in the digital transformation.

India’s aspirations for becoming a developed country by its 100th Independence Day were discussed, with a focus on the digital sector’s role in achieving this goal through initiatives like digital infrastructure and electronic manufacturing.

Ethical behavioral finance was also highlighted as crucial for maintaining balance and harmony in financial transactions amidst the rise of e-wallets, IoTs, and online platforms.

Overall, the conference served as a platform for stakeholders to exchange insights and ideas on shaping the future of digital finance in India.