MUMBAI, 28 APRIL, 2022 (GPN): Following the government-controlled International Financial Services Centres Authority (IFSCA) issuing a framework for fintech entities across the spectrum of banking, insurance, securities, and fund management, Tide, a UK-based fintech has shared to GPN It’s perspective on how the move will push product innovation and allow concept testing and MVP.

Comment from Fintech leader Kumar Shekhar, VP, Member Operations, Tide (India)

“The framework is a welcome move for financial products, financial services and financial institutions as a whole. This will push product innovation and allow concept-testing and MVP (minimum viable product) in a controlled environment before scaling, and thus help identify early adopters. This will significantly bring down product turnaround time and will help validate the viability of the financial product/service earlier, in the development cycle. This further reaffirms the formation of a Fund Lab that was proposed in the draft regulations released earlier this year, wherein fund managers may try new strategies in a controlled manner and build a track record for their fund.” Ends