G20 great platform for banking, Fintech to showcase India's growth: Standard Chartered Bank

Mumbai (Maharashtra) [India], September 6 : G20 is a great platform for banking and Fintech to showcase what India has actually strived on and achieved from a growth standpoint, said Transaction Sales Chief at Standard Chartered Bank said on Wednesday.
"We have 100-plus countries participating. This allows India to showcase not only the talent it has but also the technology and platform that it has been able to achieve at scale to solve the problems," Sanjeev Mehta,MD, Head of Transaction Banking (TB) sales-Corporate, Commercial and Institutional Banking-South Asia at Standard Chartered Bank told ANI in an exclusive interview.
Further, he said, "Other countries can just take it and follow, for example, digital payment, India took the lead. Most of the countries are just following it and the architecture and technologies that they need to take. G20 is a great platform organised to showcase all these."
Mehta thanked the central government for taking up the initiative to help build and showcase India on a global platform.
Praising the Q1 GDP numbers of 7.8 per cent and the current health of the banking sector, Mehta said, "We deal with clients across various segments starting from MSMEs to MNCs like institutions. What we've seen across the sector is that growth coming in double digits of about 10 to 20 per cent for sure, depending on industry to industry."
"We see a huge amount of positivity across the country from a growth standpoint. I know some of the companies where the global teams have come in and they're not taking a growth number of less than 30 per cent. Exports are increasing, companies are setting up their supply chains and a huge amount of investments are committed in that sector. So India is showcasing its growth to the world and G20 is the perfect platform to showcase India's success story," Mehta told ANI.
Talking about the Global Fintech Fest, Mehta said that there is no other industry conference where one can see FinTech IT companies and banks coming together all in a single platform.
"Four different industries are coming together to solve India's problem," Mehta said adding, "Standard Chartered, our engagement with FinTechs is multi-dimensional. We extend our best-in-class payment rails and provide Banking services to our FinTech clients in India. Our cloud-based payments processing platform enables us to offer high speeds of transaction processing."
He added that they also work with FinTechs on a collaborative and partnership-based approach by co-creating solutions to solve customer needs.
"Fintech perfectly complements classical banking, helping, for example, to use the available data more intelligently," Mehta said.
Talking about Standard Chartered’s digitalisation initiatives, Mehta said that nearly 100 per cent of our corporate cash transactions are digitally initiated and more than 60 per cent of our corporate trade transactions are digitally initiated.
"We have gone live with SC Pay, a cloud-native architecture for payments processing and this provides a faster, resilient, and scalable payments platform. With SC Pay, we have the ability to scale our TPS (Transaction per second) multifold," he said.