Payments and Fintech deep dive sessions demonstrate the relationship between the technology of payment systems and the regulatory landscape.
Summary
Abhay Rana aka Nemo is a developer at Razorpay. He is the resident security geek and maintainer of http://ifsc.razorpay.com and the opensource project https://github.com/razorpay/ifsc
The talk covered:
- Introduction to IFSC: the Indian Financial System Code (IFSC) is an alphanumeric code that facilitates electronic funds transfer in India. A code uniquely identifies each bank branch participating in the three main Payment and settlement systems in India. The Reserve Bank of India publishes IFSC dataset in excel sheets and pdfs.
- Details about https://github.com/razorpay/ifsc project - its maintainence and learnings in the project: http://ifsc.razorpay.com is a project that maintains this opendata in machine friendly format and offers APIs to developers to consume it in developer-friendly manner. Nemo explained how https://github.com/razorpay/ifsc powers the same and organizes financial systems open data.
- IFSC issuance process, data quality issues, challanges in keeping the data upto data, and the technology behind the project including its future scope.
Video recording: https://hasgeek.com/cashlessconsumer/payment-fintech-deepdives/videos
Slides of this session are published on https://captnemo.in/talks/ifsc/
Questions and comments from this session are available here: https://hasgeek.com/cashlessconsumer/payment-fintech-deepdives/comments
About CashlessConsumer: CashlessConsumer is a consumer collective working on digital payments to increase awareness, understand technology, produce / consume data, represent consumers in policy of digital payments ecosystem to voice consumer perspectives, concerns with a goal of moving towards a fair cashless society