The surge of innovation in the fintech industry has brought immense growth and convenience to the world of digital payments. However, this growth hasn’t been without its challenges. Fintech companies, which have become a cornerstone of the financial services sector, find themselves increasingly targeted by fraudsters and cybercriminals. Recent actions by the Enforcement Directorate (ED), such as raids on fintech companies, have revealed vulnerabilities in the industry and raised serious questions about security and risk management.Manish Deo, Head of Risk Operations and AI/ML for the India Payments Business at PayU, describes the intricate landscape of digital payments. Amid the rapid growth of the fintech industry, he shares his expertise on how PayU tackles the challenges of risk management, compliance, and the evolving financial ecosystem.
ETCIO: The fintech industry has seen exponential growth, but this growth has been accompanied by increased risks and challenges. Can you elaborate on the specific challenges PayU has encountered in the context…
