Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr. Sony A, Jt. General Manager, South Indian Bank
- Mr. Kamonasish Aayush Mazumdar, Founder & CEO at Foodieverse
- Mr. Harveer Singh, Chief Product Officer – Tata Digital
- Mr. Rana Sinha Ray, Head Technology, TimesofMoney
- Mr. Vishwas Patel, Director Infibeam Avenues Limited, Founder CCAvenue Payment Gateway
- Mr. Ketan Doshi, Managing Director, Paypoint India Network (P) Ltd
- Mr. Kaunain Esmile, Vice President- Country Lead Customer experience, DBS Bank
- Mr. Narayan Rao, Chief Services Officer, Suryoday Small Finance Bank
- Mr. Fareed Jawad, VP-Product Development, Spreedly
- Mr. Ruchit Jangid, Former Business Head, SOTC Travel Ltd
- Mr. Rahul Shah, Head – Technical Integrations and Pre Sales, FIS
- Mr. Jayesh Shah, CEO, Prism Cybersoft Private Ltd
- Mr. Shashank Chowdhury, Former Managing Director -India, Infinite Zero
- Mr. Saurabh Soni, Founder, and CEO at DigiSparsh
- Mr. Vineet Tewari, Director, Crescent Payments Private Limited
- Mr. Abhishek Mody, former Associate Director-Payment & Digital Initiatives, IDFC FIRST Bank
- Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Globally, Gmail, docs, google drive went down and many users worldwide reported the outage. Now here are some utmost important concerns that pose up that sparked a debate amongst the FIAKS community
Question 1: What is the back-up if Google or WhatsApp goes down for say 3 days?
Question 2: Today’s entire start-up, the SME sector is so dependent on WhatsApp and Google for its business. If these companies blacklist a particular country. Can you imagine what will happen to that country and its economy?
Member states, “I don’t think Google and WhatsApp work in China, they have blocked it – is China not an economy to reckon with?” Well, Atmanirbhar Bharat will have a real relevance here. The geopolitical belligerence must be duly neutralized by sustained capacity building for the entire life cycle of all economic activities. The convenience and cost of readily available IT infrastructure must not be allowed to afford a risk for millions of unsuspecting people. Disruption, deliberate denial of access to one’s own property disregarding the rights derived out of contract must eventually get recognized as War Crime in the comity of nations. However, Atmanirbhar must mean more than what we are assuming today.
Now here’s some food for thought:
- We have a backup plan for every product/situation in life. But can’t think of any back-up for these two tech companies. The services offered are so good by these companies and it’s absolutely free.
- Now they are into payment space too. So we will need banks only for opening fixed deposits? For the rest all Google & WhatsApp
- With NUE (National Umbrella Entity) regulation, they don’t need NPCI as they will be new competition to NPCI. They will issue cryptocurrency so don’t need even RBI.
- The entire country will be dependent on WhatsApp & Google with no backup or alternative plans, isn’t it?
- So, no bank needed, no NPCI needed, no RBI needed, no telecom needed as they offer voice and messaging services too!!
- Are we understanding the risk here? Risk is at- country level, company level, and individual level
Let’s address the dependency issue: REGISTER and READ the complete discussions