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CyFy 2019: Code Is the New Currency, Paving the Way for Fintech

Fintech companies have been popping as alternatives to traditional banking services.

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The tech industry has seen leaps and bounds in its integration with the finance side of affairs since the early years of the internet. Financial technology aims to compete with traditional financial methods in the delivery of financial services.

The use of smartphones for mobile banking and cryptocurrency are some services that fall under the tag of FinTech. The industry aims to make financial services more accessible and inclusive for all.

Financial services have been digitized via mobile wallets, payment apps and alternative investment opportunities and online lending platforms. These Fintech companies have been popping as alternatives to traditional banking services. Then there are few services such as e-banking facilities that the traditional institutions offer to bring more ease to their customers.

While some traditional financial institutions have embraced this new wave, gatekeepers whose business models depended on background checks have resisted overnight change. The rise of regulatory “sandboxes” to pilot and “ease” the disruption to financial services is a result of this tussle — but what can regulators, faced with evidence, do to scale up innovative policy experiments?

What does this new wave mean for those traditional financial institutions who are bearing caution to jump to the model? Will the traditional bank exist in the future?

A panel of 5 experts, headed by Tidhar Wald, Deputy Managing Director, Better Than Cash Alliance will do a detailed discussion on the topic, “Code Is the New Currency: Paving the Way for Fintech,” in Observer Research Foundation’s CyFy Conference 2019. The session will take place during the second day of the event, Tuesday, October 15.

Tidhar Wald leads Government Relations and Public Policy at the Better Than Cash Alliance.  Tidhar held positions in political affairs and government relations for over a decade, including at the United Nations, the Organization for Economic Cooperation and Development (OECD) and Oxfam International.

Other panellists include Vinay Kesari, General Counsel, Setu; Natalie Gil, CTO, The Blockchain Challenge; Lucy Corkin, Business Strategist, Rand Merchant Bank; Vladimir Korovkin, Head of Research in Innovations, SKOLKOVO Institute for Emerging Market Studies.

Newsd is the official Knowledge Partner for Observer Research Foundation’s CyFy Conference 2019 which will take place from October 14, 2019 to October 16, 2019. Follow Newsd on Twitter, Facebook to get the latest from the conference

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