Tbilisi (GBC) – Sopnendu Mohanty is the Group CEO of the Global Finance & Technology Network (GFTN), spoke at the opening of the "Tbilisi Financial Summit." He addressed the development of Georgia’s financial sector, the implementation of innovations, and the prospects for the country’s integration into the global financial ecosystem.
Sopnendu Mohanty highlighted the role of the National Bank of Georgia in fostering financial innovation, noting that the country is already taking significant steps toward modernizing its financial system through the implementation of open banking. In his assessment, Georgia has the opportunity to build upon this experience and advance to the next stage of financial technology development.
"Open banking, regulatory sandboxes, digital banks, the digital Lari, you are not merely implementing technology; you are creating it. Yet, technology is not the end goal. The goal is a financial system that is productive, sustainable, and trustworthy. While technology defines the capabilities of finance, trust determines how far it can go. Let us make Tbilisi the place where these two converge," stated Sopnendu Mohanty.
Speaking on Georgia’s development prospects, the Executive Director of the GFTN Group noted that three areas will be of particular importance for the further development of Georgia’s financial sector: artificial intelligence, tokenization, and quantum technologies.
Regarding artificial intelligence, he pointed out that the development of this technology is entering a new phase - one where AI does not just process information and answer questions, but also acts independently. According to his assessment, the use of artificial intelligence in the financial sector will facilitate the rapid detection of fraud, more accurate risk assessment, and improved services for customers. At the same time, it is essential to have appropriate regulatory frameworks in place that ensure both the development of innovation and the security of the financial system.
Sopnendu Mohanty identified tokenization as another key area. He explained that a tokenized financial market enables the instantaneous settlement of money and assets. He noted that Georgia took steps toward digital currency at an early stage, and expressed hope that the country would leverage this experience to develop a fully-fledged tokenized market.
"Value grows when we share it, and Georgia lives by this principle," stated the Executive Director of the GFTN group.
