Regulatory framework in fintech creates compliance challenges: Instamojo

OPERATING in the country's | fintech and payment sector can indeed be a significant challenges due to the regulatory environment, said Sampad Swain, co-founder and CEO of Instamojo, a D2C (direct-to-consumer) technology platform.

- UMA KANNAN

In an interaction with this newspaper, Swain said while the sector offers immense opportunities, navigating through regulatory requirements often requires careful planning and execution.

"The challenges arise from the evolving regulatory landscape, which demands a proactive approach to compliance. The complex and fragmented regulatory framework, with different regulations governing various aspects of fintech operations, creates compliance challenges," the CEO said.

The co-founder of Instamojo, which is backed by Mastercard, also said that despite these challenges, the regulatory environment is gradually evolving to support fintech and payment company's growth.