At the recently concluded Global Fintech Fest in Mumbai, Nandan Nilekani introduced an exciting new concept: Finternet. This revolutionary idea could transform the financial world, making it more efficient and user-centric. By leveraging cutting-edge technology, Finternet envisions a future where financial institutions, users, and businesses operate seamlessly, allowing users to control how their financial instruments interact for maximum benefit.

While it may sound futuristic or even far-fetched today, remember how the Unified Payments Interface (UPI), Account Aggregator (AA), and Beckn Protocol (powering ONDC) started. Each of these took years to become...