RBI Deputy Governor Rohit Jain flags speed, concentration and opacity as fintech risks; says technology must serve customers

RBI Deputy Governor Rohit Jain warned financial institutions and fintech firms that rapid adoption of emerging technologies brings risks around speed, concentration and opacity. He said institutions must ensure technology works fairly, reliably and safely for customers, while retaining responsibility for outcomes even when computing, cloud infrastructure or models are outsourced.

This story was originally reported by Economic Times — Markets. As an automated real-time news aggregator, NewsToolBar provides multi-perspective indexing and AI summarization while directing full readership directly to primary publisher sources.