Bengaluru: Indo-France collaboration has become imperative in Fintech space

CIOReviewIndia Team | Friday, 20 November 2020, 12:23 IST

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Bengaluru: Indo-France collaboration has become imperative in Fintech space

In terms of smartcards and others making it imperative for India and France to work together on account aggregator ideas, Infosys Chairman and Co-founder Nandan Nilekani said France has always been a leader in biometrics. 

The future of FinTech is French and data is very critical,  Nandan said while speaking at the Bengaluru Tech Summit on Friday. 

Also, pointing out that account aggregation involves the collection, assembly and synthesis of information from multiple accounts, such as loan/credit accounts, savings and current accounts, credit cards and investment accounts; among others, he said that Individuals or businesses can get their transaction and other details in the account aggregator ecosystem.

While in account aggregation and felt French technology is very advanced, Nilekani called for greater cooperation between the two countries to generate ideas.

“UPI payment in India is very advanced and robust. Close to 2 billion transactions are happening in a month,” he said.

To go forward with the adoption, growth and innovation of digital payments by forging links with Indian counterparts on digital cooperation, the major focus of the session was to showcase the existing French startup and innovation ecosystem. 

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