Global Fintech Forum expands its footprint to help drive financial inclusion

Source: IBS Intelligence 2020-05-29

GIFT (Global Impact FinTech), a global body representing FinTech players, has expanded its footprints to about 35 countries, including India, Nepal, Sri Lanka, and Singapore. GIFT aims to help drive financial, social, and tech inclusion across the world.

Set up as an international think-tank, the GIFT would be working on important issues concerning Fintech, emerging tech, and Digital Financial Services. The body has representation from a diverse set of Fintech stakeholders – leaders from government, regulators, multilateral agencies, banks, tech, and academia.

“We are growing our chapter and domains in various regions, and hope to be a unified and meaningful voice for the Fintech and digital community globally. In line with this vision, we are happy to proud to announce the launch of our South Asia Chapter, with leaders from the ecosystem,” Malik khan Kotadia, the founding Chairman of GIFT said in a statement.

Registered in Singapore as a not-for-profit foundation, GIFT plays a constructive role in global cooperation on issues and challenges concerning the Fintech sector. The forum intends to assimilate global initiatives and share learnings within its network through Special Interest Groups across verticals like Banking, Lending, Payments, Blockchain, Artificial Intelligence, Capital Markets, and Cryptocurrency.

It also plans to work with stakeholders to try and reduce gaps in compliance of innovation-led Fintech entities and various prudential guidelines. It also works towards ensuring that Fintechs have a level playing field and not operate in grey areas.

Wherever necessary and viable, GIFT Foundation also intends to foster organized engagement of ideas and develop them towards constructive, mutually beneficial solutions and standards for everyone and allow members opportunities for growth and market access through partnerships, alliances, and investments.

Many GIFT members are active consultants in their areas to various Governments and Regulators. Hence, it can extend this as a solution and offer advisory support towards capacity building for decision-makers like Governments, regulators, and Financial Institutions, it added in a press release.

“GBA India is committed to supporting GIFT for creating a global and collaborative fintech ecosystem and work together to support all stakeholders and accelerate the process of creating the right environment for financial inclusion,” said Sharat Chandra, President GBA India.

“Meaningful dialogues and advisories are key to the success in shaping disruptive technologies in place as well as leveraging digital convergence. GIFT Forum South Asia Chapter truly epitomizes the efforts being brought on the ground. The central bank of Nepal and digital banking fraternity look forward to embracing open dialogues and discussions as such to ensure financial stability amid the situation of uncertainty and crisis,” Prahlad Giri, Deputy Director, Central Bank of Nepal.

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Global Fintech Forum expands its footprint to help drive financial inclusion

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