Episode description

In this episode of Invisible FinTech, Sujatha Mohan, Senior Director at FIS Global, talks about the strategic importance of open banking and BaaS to banks and why banks can not side-step governance and due diligence while working through partnerships.

02:00 - Evolution of open banking and BaaS in India. As far as adoption and maturity is concerned, have banks lived up to their potential in the last 7-8 years?

11:30 - The strategic importance of open banking for banks

22:15 - View on open banking as a regulation (as is followed by many markets) Vs open banking as a market-led initiative? Do you agree with the current approach in India? (building an open digital foundation and leaving it to the ecosystem to collaborate and drive adoption)?

31:55 - How do you measure the success of a BaaS/Open Banking initiative in a bank, over time? Is it fair to say that all the work done by banks on the tech side to enable this hasn’t fully reflected in product innovation until now? (barring payments)?

37:10 - What role does FIS play in enabling the backend rails that support innovation in financial services? How do you differentiate yourself from some of the nimble B2B2X startups around (like independent BaaS companies)? How do you work with the rest of the ecosystem?

43:25 - What is the best way to reach FIS to engage in a partnership?