GIFT City to become the Financial Hub of Asia

In a slew of initiatives, Prime Minister Narendra Modi , on 29th July, inaugurated NSE IFSC-SGX Connect, India International Bullion Exchange (IIBX), and laid the foundation stone for the International Financial Service Centres Authority (IFSCA) in GIFT City Gandhinagar.?

“Today, the foundation stone of the International Financial Services Centers Authority (IFSCA) headquarters building has been laid in GIFT City. I believe, as grand as this building is in its architecture, it will also create unlimited opportunities to make India an economic superpower,” he said.

With this, India integrated the GIFT City as one of the major gateways for supporting innovations in financial services, thereby providing a catalyst for more growth. In addition, it would further create the first one-of-a-kind regulator-initiated ecosystem capturing digital transformation’s total value.?

On that eventful day, International Financial Services Centres Authority (IFSCA) granted an Authorisation Certificate to five fintech companies, presided by Prime Minister Shri Narendra Modi, Finance Minister Srimati Nirmala Sitharaman , and several other dignitaries. Among those five, we were also the one!?

We got certified as its FinTech partner for unified #KYC solutions and customer onboarding digital infrastructure. The grant of the Authorisation Certificate follows our winning of the IFSCA’s BankTech Hackathon for our unified KYC solution in April 2022.

Our CEO & Co-Founder, Ankit Ratan , said,

“We are proud and thrilled to be chosen as one of the FinTech partners by IFSCA for our unified KYC Solution and customer onboarding digital infrastructure. Signzy is now a part of this massive initiative that will ensure that the hub can empower the various financial institutions at GIFT City. We are also committed to supporting IFSCA in realizing its vision for inclusive growth of the global financial services ecosystem. Finally, team Signzy is looking forward to new opportunities to help propel India into a global leader in FinTech in line with PM Shri Narendra Modi’s vision.”

The event also marked #IFSCA signing MoUs with four foreign regulators, which include the Monetary Authority of Singapore (MAS); Commission de Surveillance du Secteur Financier, Luxembourg; Qatar Financial Centre Authority; and Finansinspektionen, Sweden. The MoUs set a stage for India to create a global dynamic financial sector with a regulatory regime and a conducive ecosystem.

With the recent inauguration & launch of?NSE IFSC-SGX Connect, GIFT City is to become a gateway for global equity and debt capital for sustainable development. The journey toward this holistic vision requires a high degree of inter-regulatory coordination within the financial sector. We are proud & honored to be a part of this by providing a world-class regulatory environment with our unified KYC solution.?