Technology in Financial Services

The adoption of technology by regulated entities is significantly regulated by the Reserve Bank of India, the Securities & Exchange Board of India, the Insurance Regulatory & Development Authority of India, and the Pension Fund Regulatory and Development Authority. With unparalleled insight into the Indian financial services regulators, we provide end-to-end legal solutions to such players and assist them in their digitisation. We have acted for the largest banking, and insurance digitisation products in India.

Technology in Financial Services

Our expertise encompasses guiding businesses through a complex set of regulatory frameworks and structuring their software acquisition, application development, and technology integration arrangements. We are a preferred choice for domestic and global financial institutions when it comes to marketing strategies and meeting regulatory requirements for the expansion of services to the Indian customer segment. Our track record includes assisting India’s largest bank with re-inventing its technology offering through a series of transactions involving the creation of tech-first mechanisms for its banking processes. We also assisted financial institutions with the acquisition and outsourcing of software and support services from the most dominant technology solution providers in the banking industry.

Publications

Digital KYC and Live Video Based Customer Identification Process

Introduction The Reserve Bank of India (“RBI”) notified an amendment to the Know Your Customer…

Account Aggregators as a Solution to the Consent vs Convenience Debate

Introduction Given the importance of data to the emerging fin-tech ecosystem, the RBI has introduced…

Work Highlights

Advised India’s largest commercial bank on its partnership with a leading software company to create and launch India’s first digital-only bank.

Advised one of the largest insurance companies in the world on building its core tech stack for its insurance automation platform in compliance with IRDAI cybersecurity and outsourcing guidelines and with negotiating tech sourcing contracts with some of the largest technology companies in the world.

Advised a leading global fintech on data localisation requirements, especially (a) with respect to implications of disclosures on localisation to India-based banking partners; (b) cross-border data transfers for Office of Foreign Assets Control (OFAC) sanctions screenings, and (c) contracts with large retail merchants in India.

Advised one of India's largest private banks on structuring the use of Amazon’s AI-powered assistant, Alexa, for voice-enabled financial services, including licensing matters, regulatory compliance, and blockchain adoption.

Assisted leading foreign banks in structuring their targeted marketing strategies in India for overseas banking and bancassurance services.

Key Experts

Mathew
Chacko

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Ankita
Hariramani

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Soumitra
Ponkshe

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Ruchika
Jha

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Ishani
Mukherjee

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