Search Results for: digital lending

Digital Lending Usage in Philippines Surges 37%

Filipinos’ reliance on digital financial services intensified in 2023, with users spending a cumulative 1.3 billion seconds, or 42 years, on digital lending applications, marking a 37-percent surge from the previous year, a report by consumer credit service Digido revealed. According to the study, personal… Read More

Mongolia’s M bank Secures $30m for Digital Lending to Women, SMEs

Mongolia’s first digitally focused bank M bank has secured $30 million in financing from the International Finance Corporation (IFC) provide digital lending to women and small and medium enterprises (SMEs). In a collaborative effort to bolster the Mongolian financial sector, IFC and M bank are… Read More

India’s Central Bank Lifts Restrictions on Bajaj Finance’s Digital Lending Products

The Reserve Bank of India (RBI) has officially lifted restrictions on two digital lending products of Bajaj Finance, nearly six months after imposing curbs due to non-compliance with its digital lending guidelines. The announcement, made in a regulatory filing by Bajaj Finance, noted that effective… Read More

Reserve Bank of India Clarifies Guidelines for Default Loss Guarantee in Digital Lending

The Reserve Bank of India (RBI) released a comprehensive set of Frequently Asked Questions (FAQs) to elucidate its guidelines on Default Loss Guarantee (DLG) in the burgeoning field of digital lending. This release aims to provide detailed clarifications on the operational aspects of DLG, a… Read More

India: Digital Lending Apps to Get Verification via New DIGITA Agency

The Reserve Bank of India is contemplating the establishment of the Digital India Trust Agency (DIGITA) in a move to combat the escalating cyber fraud. This initiative aims to clamp down on the proliferation of illicit lending applications by instituting a verification system for digital… Read More

Intercontinental Exchange (ICE) Announces Raymond James Bank to Use Encompass Digital Lending Platform

Intercontinental Exchange, Inc. (NYSE: ICE), a global provider of technology and data, today announced that Raymond James Bank (NYSE:RJF) will use the company’s Encompass® end-to-end digital lending platform “to support mortgage origination for high net-worth borrowers across both retail and delegated correspondent lending channels.” Raymond James… Read More

The Digital Lending Association Adds Two New Members

The Digital Lending Association (DLA) in Germany has added two new members: Euro ABS and GvW Graf von Westphalen. Euro ABS services the asset-backed security market globally. GvW Graf von Westphalen is a partnership of attorneys and tax consultants with offices across Germany but providing… Read More

Digital Lending Platform Vivifi India Raises $75m to Further Extend Loans

Digital lending platform Vivifi India Finance has raise $75 million in a Series B funding round to further extend loans to the salaried class as well as small businesses in India. This latest infusion of capital comprises $15 million in equity and $60 million in… Read More

India: Central Bank Governor Asserts Digital Lending Rules Boost Investor Confidence in Fintech

Reserve Bank of India (RBI) Governor Shaktikanta Das refuted claims that new digital lending guidelines would hinder fintech growth, asserting instead that investor confidence in the sector has risen since their implementation. Speaking at the Mint BFSI conclave in Mumbai, Das highlighted the positive impact… Read More

Sri Lanka Experiences Explosive Growth in Digital Lending, Report Says

Sri Lanka has seen an exponential increase in the use of online loan applications across the country, according to a report by online lender Robocash said. The user base for these digital lending services has seen a dramatic rise, skyrocketing from 10,600 in August 2021… Read More

Indians Embrace Digital Lending Amid Privacy Concerns, Survey Reveals

A new survey has highlighted a growing trend among Indian consumers towards using digital services for loans and financial transactions, coupled with a significant lack of awareness about data privacy. According to Home Credit India’s ‘How India Borrows Survey 2023’, only 18% of borrowers surveyed… Read More

Digital Lending Software Firm Blend’s Mortgage Suite Saves Resources with Product Automation and Streamlined Application Flows – Report

Blend has shared the 2023 Mortgage Suite ROI Study. Jordan Brown, CEO of MarketWise Advisors LLC, has distributed the third annual Blend return on investment (ROI) impact analysis “conducted by MarketWise Advisors.” The study reportedly provides “an independent evaluation of Blend’s mortgage technology and its… Read More

Digital Lending in the Philippines Forecast to Hit $488.8m This Year

The digital lending market in the Philippines is poised for a significant expansion, with expectations to grow by 45.4%, reaching $488.8 million this year, from just $336 million a year earlier. This forecast, as per the latest report by PayNEXT360, a research and consulting firm… Read More

India: Micro-lender Arohan Financial To Expand Digital Lending Operations

India-based micro-lender Arohan Financial Services is reportedly planning to expand its digital lending operations as part of its overall goal of revolutionizing microfinance with digital push. Arohan said it will leverage its ‘Apna Arohan’ app for more efficient loan disbursements and improved repayment compliance. Launched… Read More

Tarabut, MENA’s Open Banking Fintech, Partners with FLOOSS, a Bahrain-based Digital Lending Platform

Tarabut, MENA’s leading open banking platform, has announced a new partnership with FLOOSS, a Bahrain-based digital lending platform. FLOOSS is reportedly the “first” and fastest digital loan app in Bahrain “offering consumer loans of up to BHD 750 with a repayment period of up to… Read More

Fintech Platform TruStage Introduces Digital Lending Insurance Product

TruStage, an insurance, investment and technology provider, built on years of experience providing payment protection solutions to credit unions, announced the availability of its newest lending solution–Payment Guard Insurance. The Payment Guard product is a key innovation in the digital lending / insurance space. It… Read More

Australia: CBA Enhances Digital Lending Capabilities with Acquisition of Fintech Waddle

Commonwealth Bank of Australia (CBA) announced its venture-scaling arm, x15ventures, has entered an agreement “to acquire cloud-based invoice lending platform Waddle, accelerating the bank’s ambition to provide leading working capital solutions for Australian businesses.” CBA has an existing partnership with Waddle “through its Stream Working… Read More

Comerica Bank’s Digital Lending Platform Enables Access to Capital for Small Businesses

Comerica Bank announced the launch of Comerica Small Business Convenient Capital, its first “fully digital,” end-to-end new lending platform “to provide convenient access to capital and innovative value-added benefits for Comerica small business customers.” Built in collaboration with Amount, a digitally enabled lender and credit… Read More

Association of German Lending Platforms Changes Name to Digital Lending Assocation

Reflecting the realities of financial services today, the Association of German Lending Platforms (Verband Deutscher Kreditplattformen, VdK), has changed its name to the Digital Lending Association. The Association represents 27 members and is committed to supporting a viable and transparent digital financing industry while also… Read More

Manappuram Finance Launches Digital Lending App Ma-Money

Manappuram Finance Limited has launched a digital lending app Ma-Money. Manappuram is a gold loan platform in India.  The company went public in August 1995, and its shares are listed on the stock exchanges of Mumbai, Chennai, and Kochi. The new digital lending platform is… Read More

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