Revolutionizing markets: India's Journey in Fintech Innovation

The month of October was focused on India, our CEO, was in Mumbai meeting our prospects and clients. We have our heads down and are super focused on execution.

On this trip we started work on our development center, watch this page for more updates!

This months blog post has some more updates on our focus on India.

Can Gift City really rival Singapore?

The International Finance Tec-City (GIFT), nestled in the vibrant state of Gujarat, India, stands as a testament to India's burgeoning influence within the global financial sector. Situated in the city of Gandhinagar, GIFT represents an impeccably orchestrated, state-of-the-art financial center with aspirations to rival renowned global counterparts like Singapore and Dubai.

As a designated Special Economic Zone (SEZ), GIFT boasts a world-class infrastructure, and a robust regulatory framework meticulously designed to beckon both domestic and international financial institutions. It aims to serve as a comprehensive hub for an array of financial services, encompassing banking, insurance, capital markets, and more.

GIFT embodies not only India's ambitious spirit but also a strategically calculated move to propel economic growth and foster job opportunities in the region. This dynamic city has already witnessed the entry of numerous global industry leaders, including Standard Chartered Bank, Hewlett Packard Enterprise (HPE), Oracle, and Bank of America, reaffirming its trajectory to play a pivotal role in reshaping the financial landscape.

The FIO team was excited to get an up close view on Fintech and Tech Fin companies setting up in GIFT. We recently attended a seminar hosted by Sandip Shah from GIFT. Its exciting to see international companies setting up, the increasing ease of doing business, in foreign currency, without GST, and with tax rebates and incentives that rival many international financial centers.

Combined with our current customers and prospects letting us know of their intentions on GIFT, we are bullish on this new opportunity in India.

JOB ALERT! Hiring at FIO

FIO has an exciting Murex consulting opportunity with a client in Bangalore, focused on RTB and CTB activities across FO, MO, and BO. If you are interested send in your CV to HR

But that's not all! For those who are seeking a change and are intrigued by the dynamic realm of financial data management, we also have exciting opportunities available in Singapore.

If you are a seasoned FinTech builder in India with a strong track record, we are excited to connect with you. Let's embark on a conversation that could shape the future of financial technology together.

JP Morgan Securities Services launches with Snowflake

As FIO is now also exploring opportunities on the buyside, this new development of J.P.

Morgan working with the cloud really piqued our interest.

They are taking a significant step in enhancing its services for institutional investors with the launch of its Securities Services Data Mesh, now available through Fusion by J.P. Morgan. This solution allows investors to access vital investment data held by J.P. Morgan's Custody, Fund Accounting, and Middle Office services through modern, cloud-native channels like REST APIs, Jupyter notebooks, and the Snowflake Financial Services Data Cloud.

This move caters to organizations looking to harness the power of the cloud, as well as the growth and development of analytics, AI, and machine learning, by providing readily usable and analyzable data within a modern technology stack.

One of the challenges investors face is integrating asset servicing data at scale, especially as their portfolios and investments become larger and more complex. Fusion's Data Mesh addresses this issue by offering a range of cloud-native channels, streamlining the process. Gerard Francis, Head of Data Solutions at J.P. Morgan, emphasized the importance of easy data access for institutional investors, enabling them to maximize their operational efficiency and alpha.

Fusion's collaboration with leading cloud providers, including Snowflake, ensures that Securities Services data is readily available to investors within their workflows. This transformation in accessing Securities Services data is seen as a vital step forward, making data-driven decision-making more efficient and practical for institutional investors.

This is an interesting development that FIO will pay attention to, as we talk with more fund houses in the region, and with respect to their transformation agendas.