There is greater regulatory oversight over fintech firms now. How can technology keep up with evolving regulatory requirements?
The Reserve Bank of India (RBI) is a progressive regulator that looks at customer trust as a key aspect. We don't think regulation is a burden, and we should be operating regardless of it. In case of Razorpay, given that we have been at this for a while, I have added more rigour to it in the past two years. Regulations may change based on the need.
We have an ambition to go to multiple geographies, and it can get more complicated. We're all up for it.
Does focus on regulatory compliance redirect budgets from innovation & R&D?
I don't think so. These are all basics. I don't think the regulation is asking something out of the ordinary. For instance, we were able to prove that our systems continue to work even when the server fails. We are constantly injecting failure to the system so that it can adapt to it.
この記事は Business Standard の August 19, 2024 版に掲載されています。
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この記事は Business Standard の August 19, 2024 版に掲載されています。
7 日間の Magzter GOLD 無料トライアルを開始して、何千もの厳選されたプレミアム ストーリー、9,000 以上の雑誌や新聞にアクセスしてください。
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