Anyone who follows markets and global finance knows that the biggest blow to global finance was the British voting to leave the European Union in 2016. The vote, named as Brexit, separated the UK from the EU (one of the largest markets in the World), was dubbed as a catastrophe and was belived to start a flight of capital from London to other major financial centres of the EU, namely Paris, Dublin and Frankfurt. Most commentators said that investors would want to keep their money in a bigger, borderless market. However, no such thing has happened till now.

The reason is Fintech. There are many large financial behemoths headquartered in London who deal in insurance, investment banking and high frequency trading. Financial companies deal with millions, if not billions of transactions every month. How does one keep track of all these transactions? How does one ensure that you are complying with all Govt regulations?  Most importantly, how does one ensure that you have enough trained employees in the desired country of relocation?

This must be the first time in the history of the World, that a financial decision was dictated by technology. Financial technology firms are very very strong in the UK and are located very close to the offices of the major finance companies. No other country apart from the USA has a comparable fintech infrastructure in the World. Thus, the city of London has ensured that it will continue to remain a doyen in the World of Global Finance due to its fintech infrastructure and the ready availability of skilled professionals.

The Indian Fintech sector is currently in its nascent stages. It has made significant progress towards making itself a sought after destination for Global Investors. Prime Minister Narendra Modi recently inaugrated the International Financial Services Centre (IFSC) in Gujarat International Financial Tech City (GIFT) , Gandhinagar. The exchange which will work for 22 hours a day, is said to have a turnaround time of 4 micro seconds and is one of the most advanced exchange of the World. Its advanced technology and global standards have made it a sought after exchange for NRIs and Global Investors. Such technology is bound to make India a global hub for fintech and a sought after destination for investors looking to multiply their money.