Finclusion
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Paytm
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog
No Result
View All Result
Finclusion
No Result
View All Result
Both TechFin and FinTech involve the intersection of technology and finance.

Both TechFin and FinTech involve the intersection of technology and finance.

TechFin evolution in India and the regulatory challenges

November 15, 2023
in Fintech
420 4
0
Share on FacebookShare on Twitter

Is TechFin the same as FinTech? Both TechFin and FinTech involve the intersection of technology and finance. The distinction lies in the origin, focus, and business model of these entities within the financial and technological landscape. According to a report by Observer Research Foundation, “TechFins are different from FinTechs, in the way their businesses are built, business models, revenue monetisation, technological capabilities, and ability to raise equity capital and core consumer offerings.”

Some of the major Techfins include Facebook, Amazon, while Fintechs include Paytm, PhonePe, Razorpay, etc. Some of the regulatory challenges associated with managing the rise of TechFin in India are:

You might also like

President Diaz-Canel expressed Cuba’s keen interest in India’s Unified Payments Interface (UPI) and its wider Digital Public Infrastructure (DPI). (Image Source: PM Narendra Modi on X)

BRICS Summit 2025: Cuba Shows Interest in India’s UPI as PM Narendra Modi, President Diaz-Canel Meet

July 7, 2025
By integrating this indicator, banks and payment platforms will be able to identify risky mobile numbers in real time. (Image source: @UPI_NPCI)

RBI Advises Banks to Adopt DoT’s Fraud Risk Indicator to Curb Cyber Fraud

July 3, 2025
  1. Regulatory Oversight and Framework:

Traditional financial regulations may not fully cover the nuances of TechFin operations. There may be gaps in existing regulations that fail to address the specific risks and challenges posed by technology-driven financial services. Therefore, regulators will have to adapt to the rapidly evolving nature of technology and financial services. Establishing a regulatory framework that accommodates innovation while ensuring consumer protection and financial stability is challenging. 

  1. Data Privacy and Security:

With the increasing reliance on data for TechFin operations, there is a need for robust data protection laws. Ensuring compliance with data privacy regulations and protecting customer information becomes crucial.

  1. Cybersecurity Concerns and Consumer Protection

The integration of technology in financial services exposes sensitive financial data to potential cyber threats. Regulators must establish cybersecurity standards to safeguard against data breaches and unauthorized access. TechFin companies often introduce new and complex financial products and services. Ensuring transparent disclosures about terms, conditions, and risks to consumers becomes a regulatory challenge. Establishing mechanisms to handle customer complaints and disputes arising from TechFin services is crucial.

  1. Financial Inclusion and Accessibility:

Regulators need to ensure that TechFin services are accessible to a broad spectrum of the population, promoting financial inclusion. Avoiding discriminatory practices in providing services is essential.

  1. Technology Risk Management:

Regulators must ensure that TechFin companies have robust technology risk management systems in place. This includes measures to address disruptions, system failures, and other operational risks.

Addressing these regulatory challenges requires a proactive and adaptive approach to ensure that TechFin innovations align with broader financial stability, consumer protection, and legal frameworks in India.

Tags: FintechpaytmPhonePeTechfinTechfin in India

Related Stories

President Diaz-Canel expressed Cuba’s keen interest in India’s Unified Payments Interface (UPI) and its wider Digital Public Infrastructure (DPI). (Image Source: PM Narendra Modi on X)

BRICS Summit 2025: Cuba Shows Interest in India’s UPI as PM Narendra Modi, President Diaz-Canel Meet

by Finclusion
July 7, 2025
0

On the sidelines of the 17th BRICS Summit in Rio de Janeiro, Prime Minister Narendra Modi held talks with President...

By integrating this indicator, banks and payment platforms will be able to identify risky mobile numbers in real time. (Image source: @UPI_NPCI)

RBI Advises Banks to Adopt DoT’s Fraud Risk Indicator to Curb Cyber Fraud

by Finclusion
July 3, 2025
0

In a major step towards strengthening cybersecurity in banking, the Reserve Bank of India (RBI) has directed all Scheduled Commercial...

June's daily average was equally impressive, with 613 million transactions per day and a daily average value of ₹80,131 crore. (Image source: Freepik)

India’s UPI Crosses 18.4 Billion Transactions in June 2025

by Finclusion
July 1, 2025
0

India’s digital payment ecosystem continues to grow rapidly with UPI (Unified Payments Interface) recording 18.40 billion transactions worth ₹24.04 lakh...

During her visit to Seville, Spain, the Finance Minister will address the 4th International Conference on Financing for Development (FFD4) organised by the United Nations. (Image source: PIB)

Finance Minister Nirmala Sitharaman to Address 4th International Conference on Financing for Development organised by United Nations

by Finclusion
June 30, 2025
0

Union Minister for Finance and Corporate Affairs Nirmala Sitharaman has begun an official visit to Spain, Portugal, and Brazil from...

Next Post
Paytm has expedited the integration with Axis Bank, HDFC Bank, State Bank of India (SBI), and YES Bank.

Paytm gets included in MSCI Global Standard Index; expects $167 million inflows

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finclusion

© 2024 Finclusion

Quick Links

  • About Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • News
  • Explained
  • Fact Check
  • Inclusion
  • Blog

© 2024 Finclusion

Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?
Go to mobile version