Explained: Are fintech companies unmindful of Mint Road's message?

Fintechs' attitude towards governance has major implications

Raghu Mohan
Last Updated at January 29, 2023 17:38 IST

Fintechs will soon realise that being privately held is very different from being publicly listed; issues such as related-party transactions will soon be taken up by financial sector regulators

A survey by the Fintech Association for Consumer Empowerment (FACE) — in collaboration with the Center for Financial Inclusion — saw respondents according very low priority to governance risk. Defined as “weakness at the board level leading to poor oversight and control”, it was ranked 19th by non-lenders and 22nd by lenders.

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