SAGE India is proud to announce the publication of Fintech Future: The Digital DNA of Finance by Sanjay Phadke.
The book discusses major issues with current banking and financial system, the global financial crisis and inequality eating into the fabric of democracy and capitalism. With a foreword by Padma Shri Awardee T. V. Mohandas Pai, it includes stories of successful Fintech startups and treads a growth journey of fintech startups from Silicon Valley to Indian cities in the creation of new financial services.
Announcing it’s release in March, author Sanjay Phadke said, “’Go Digital’; was the closing message of Shaktikanta Das, Governor of Reserve Bank of India, on 27th March when delivered emergency package including cutting interest rates to record lows to support India’s battered economy and markets. The ongoing lockdown in India and almost every other country on planet to counter the Covid19 pandemic has brought home the message of a fundamentally different future upon us. When Fintech Future was readying for release in early 2020, I thought about this book more as a far away future, or at least a medium term like a few years. That’s why I had put the epilogue with space travels. The events in last month however have sent shocks around this planet, and in a sense fast forwarded the future. With social distancing and careful networking becoming new norm, notes as a medium of exchange hardly remain relevant, and so does bank cheques.
That’s why RBI Governor’s call to Go Digital was so important, one of the first globally to exhort the banking system and population to go virtual. Starting with electronic wallets that became popular over a few years with Banks and Fintechs embracing mobile phone and the Big Techs (Microsoft, Apple, Amazon, Alibaba & others) pretty much making every aspect of life digital, Coronavirus bring forward the future of finance in one swoop. The long form of the book title, the Digital DNA of Finance was rather prosaic, as everyone hunts for the elusive RNA based virus. The physical world is fast looking for the equivalent of antivirus in cyber security applications. While there will be short term solution like vaccines, lasting changes will come through healthier lifestyles and increasingly digital approach to life. This book chronicles the increasing coupling of technology and finance, zooming onto future with AI/ML, Blockchain that maybe already upon us.”
In his foreword to the book, T. V. Mohandas Pai, Padma Shri Awardee, former CFO and Board Member at Infosys, writes: “Through his unique style of writing inspired from his passion for finance and technology, Sanjay has woven a fintech web which will keep the readers hooked. The book talks about the evolution of money and why this evolution is so important for humanity. Thanks to the author’s background in both areas, this book can serve as a basic primer reading to prepare the user for a tech-laced future of finance for non-individuals, organizations and governments.”