Wednesday 9 September 2015: Mumbai
The Rt Hon Lord Francis Maude of Horsham, Minister of State for Trade and Investment, today announced a new venture in the Financial Technology (“Fintech”) sector at a lecture to IIT Bombay to students, faculty members, invited entrepreneurs and media. Fintech is a fast-growing area of business, providing IT solutions in the financial services industry.
The aim is to create a ‘FinTech bridge’ between UK and India. Led by Alok Vajpeyi and the UK’s Startupbootcamp (FinTech), it will encourage close collaboration and investment in UK and Indian Fintech companies and help them expand globally. Whether their focus is financial inclusion or access to lending, Fintech companies are creating global solutions.
As a first step, Lord Maude announced that the first initiative of the collaboration will be the creation of ‘FinTech20 India’, in close partnership with FinTechCity of the UK. It will search for twenty FinTech innovators in India. Companies will be selected by a panel of experts from the UK and India and will be promoted in the FinTech50 2016 when it is released to a world-wide audience next year.
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