Global Financial Innovation Network (GFIN)

Published
15th May, 2023

Context

The Reserve Bank of India has opened the application window for all India-based firms and innovators to participate in Global Financial Innovation Network (GFIN)’s first-ever Greenwashing TechSprint.

Key-highlights

RBI will be among the 13 international regulators taking part in GFIN’s Greenwashing TechSprint.
The TechSprint will bring together 13 international regulators alongside firms and innovators to address GFIN’s priority on environmental, social and governance (ESG) and sustainable finance.

Global Financial Innovation Network (GFIN)

Launched in: 2019
The Global Financial Innovation Network (GFIN) is a network of over 70 organisations committed to supporting financial innovation in the interests of consumers.
It seeks to provide a more efficient way for innovative firms to interact with regulators, helping them navigate between countries as they look to scale new ideas.
This includes the ability to apply to join a pilot for firms wishing to test innovative products, services or business models across more than one jurisdiction.
The GFIN also aims to create a new framework for cooperation between financial services regulators on innovation-related topics, sharing different experiences and approaches.