Introduction to Fintech Law

Описание: When I opened my bank account, many, many years ago, it was a very simple process. All you had to do was walk into the nearest bank, fill up a form and that’s it, your account is open. There was not concept of KYC or Know Your Customer, and we were given books like this, which were called passbooks. By the way, my account number was just a 2-digit number. Hard to believe, I know. And here, every single transaction that I made was hand written by somebody at the bank. Which also meant that my account was stuck to that particular branch of that particular bank. So that meant if I had to move money from that particular branch to another branch of the same bank in the same city it would still take one working day. Sending money to another bank in the same city three working days. Sending money to another city 10 to 15 days. Sounds ridiculous today I mean today you can pick up your phone click a few buttons and send money anywhere within a few seconds. This is why financial technologies have become so important because it enables banks, stock exchanges, insurance companies and so many other financial service providers to provide services extremely fast, efficiently and securely. Fintech is a 5-trillion dollar industry with over 12000 startups working in the field.

This video introduces the field of Fintech Law in India.