Indian finance ministry official calls on financial service providers to work with tech startups

A top finance ministry official in India has called upon established financial service providers to be more open to collaborations with FinTech innovators. 

Shri K Rajaraman, additional secretary at the department of economic affairs made the  at FICCI-IBA-organised PICUP Fintech Conference, BusinessLine reported.

He added that the ubiquity of new digital platforms has pushed the need for resilient services and cybersecurity to the front of the line in terms of where the industry’s focus should be.

The recent hack attacks on the New Zealand stock exchange should serve as a reminder of this fact, Rajaraman noted.

He also urged the industry to work more closely with the insurance industry in the future.

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