UK-India Fintech Sectors to Drive Growth, Prosperity of Both Countries

MUMBAI, India, Sept. 30, 2022 /PRNewswire/ -- In his keynote address at the Global Fintech Fest 2022 (GFF 2022) in Mumbai, Alderman Vincent Keaveny, The Rt Hon the Lord Mayor, City of London emphasized the need for greater cooperation between India and the UK for a flourishing fintech ecosystem in both the countries.

"The City of London Corporation is committed to deepening the terms between the businesses of London and India. With our combined expertise, the UK and Indian financial sectors continue to drive growth and prosperity in our respective countries. The UK currently holds the top spot as Europe's fintech hub. India, on the other hand, is on the verge of becoming Asia's top fintech hub with the highest adoption of fintech products and the emergence of many unicorns. Thus, fintech will play a major role in building a sustainable future for all," said Mr. Keaveny.

India has been one of the most important markets for UK-based fintech firms. Talking about the country's fintech opportunity and the upcoming Free Trade Agreement, Mr. Keaveny said, "The Free Trade Agreement will pave a way for significantly stronger business relations between the two countries."

The Lord Mayor referred to the UK-India Vision 2030 as the bridge between these two powerhouses of the global fintech landscape. "The UK-India 2030 vision is the roadmap for revitalizing a dynamic connection between our people, trade and investments and technological collaborations," he said.

Organized and presented by the Department of Economic Affairs, Ministry of Finance, Government of India, Reserve Bank of India, International Financial Services Centres Authority (IFSCA), National Payments Council of India, the Payments Council of India (PCI) and the Fintech Convergence Council (FCC), GFF 2022 was held between September 20 and 22, 2022 at the Jio World Convention Centre in Mumbai. Pre-event festivities began virtually on September 19, 2022. This is the third edition of the Global Fintech Fest, and the first one where domain experts are participating from across the globe in-person and virtually.

GFF 2022 is being supported by the Unique Identification Authority of India (UIDAI), National Investment Promotion & Facilitation Agency (Invest India), Startup India, Reserve Bank Innovation Hub (RBIH) and ONDC. Special Partners of GFF 2022 are World Bank Group, United Nations Capital Development Fund, BIS Innovation Hub, KNOMAD, Better Than Cash Alliance and International Finance Corporation (IFC).