Tagged: india

India’s Tata Consultancy Services Partners Australian Neobank Volt to Power New Banking as a Service Platform

Tata Consultancy Services (TCS), an Indian multinational IT services and consulting firm based in Mumbai, has reportedly partnered with Australian neobank Volt. Both companies will work together to power Volt 2.0, which is the digital bank’s new Banking as a Service (BaaS) platform. Volt 2.0… Read More

India’s New Fintech Sandbox Program will be Managed by Recently Established International Financial Services Centres Authority

Indian regulatory authorities have introduced the framework for establishing a Fintech regulatory sandbox that will help local startups with experimenting or testing out their ideas in a live environment. The Fintech sandbox program will allow established industry participants and startups to work cooperatively in order… Read More

Fintech Firms are Now a “Critical Constituent” of Indian Financial Services Sector: Report

India is now home to more than 2,000 Fintech companies and has become one of the world’s largest financial technology markets (after the US, China and UK), according to a report from McKinsey & Company that was released earlier this month. The report notes that… Read More

Indian Consumer Lending Fintech ZestMoney to Offer Affordable Payment Options to Consumers Buying Apple Products

Lizzie Chapman, CEO and Co-Founder at ZestMoney, which claims to be one of India’s fastest-growing Fintech businesses, has confirmed that the company has teamed up with Apple (NASDAQ:AAPL)  to “drive affordability” in India. Chapman noted: “Until now Apple products were relatively unaffordable for the mass… Read More

Bengaluru based Fintech Startup Walrus Is Launching Personalized Debit Card for Teenagers to Encourage Better Money Management

Bengaluru based Fintech startup Walrus is launching a personalized debit card for teenagers. The company says it wants to help teens become financially “smart” from a young age so that they are able to effectively manage their finances as they get older and have more… Read More

Indian Pay Later Solutions Experience 50% YoY Increase in Equated Monthly Transactions during Checkout on Amazon, Flipkart

Lizzie Chapman, CEO and Co-Founder at ZestMoney, which claims to be one of the largest and fastest-growing Fintech firms in India, notes that as the festive season begins in India, the company has seen a significant increase in demand for online “affordability” solutions from its… Read More

There were 28 Major Fintech Investment Rounds Finalized Last Week: Report

The Wealthtech and cryptocurrency-focused Fintech sectors recently attracted substantial investments through several investment rounds. During the past week, there were around 28 funding rounds in the Fintech space. Companies working in several key areas managed to secure funding including those focused on cryptocurrency, Wealthtech, payment,… Read More

Pondicherry University in India to Introduce MBA Program in Financial Technology or Fintech

Pondicherry University, which is located in South India (in Kalapet, Pondicherry, Union Territory of Puducherry, India), has introduced an MBA program in Financial Technology or Fintech. The new program will be offered during the 2020-21 academic year. Gurmeet Singh, Vice-Chancellor of the University, has helped… Read More

Indian Multinational Financial Firm ICICI Bank Appears to be Struggling to Process Digital Payments

ICICI Bank Ltd., an Indian multinational banking and financial services firm, appears to be struggling when it comes to handling payments. The bank’s customers have been complaining that their payments were not being processed. They noted via social media that they’re experiencing issues with accessing… Read More

India: Vested Finance Says New Account Openings Jump by 70%, AUM Doubles

Vested Finance, an online investment platform that enables Indian investors to invest in the US stock market, is reporting that total investments in the US markets from India grew by 150% from Q1 to Q2 while new accounts jumped by 70%. Vested Finance is a… Read More

AngelList India Launches New Fund, iSeed Southeast Asia, the First Regional Fund Backed by Naval Ravikant and Other Top Investors

Utsav Somani, partner at AngelList India, has revealed that they’re launching a new fund, called iSeed Southeast Asia. Somani notes that the project is being led by Wing Vasiksiri and it’s reportedly backed by Naval Ravikant, the co-founder, chairman and former CEO of AngelList, and… Read More

Two-Thirds or 68% of Indian Consumers are Now Using Digital or Mobile Banking Platforms to Settle Transactions, Instead of Cash: Report

Over two-thirds or 68% of Indian consumers are currently using digital or mobile banking platforms to settle transactions, according to a new report. The use of online banking services and contactless payments has increased significantly due to the COVID-19 crisis – which had led to… Read More

India’s FamPay, a Neobank for Teenagers, Reveals that Most Tech-Savvy Young People are Still Making Cash Payments

Younger people in India including Millennials and Gen Z consumers are usually quite tech-savvy because most of them have grown up using the latest smartphones. They regularly use the internet to take care of everyday tasks – which may include conducting digital transactions for online… Read More

India’s Infibeam Avenues to License its Digital Commerce and Payment Software to Jio Platforms, a Subsidiary of Reliance Industries

India-based Infibeam Avenues, an established online payment solutions and enterprise software developer, has agreed to a new deal that involves licensing its digital commerce and payment software to Jio Platforms, a local digital services firm and a subsidiary of Reliance Industries Ltd. (according to a… Read More

Bengaluru based Fintech Simpl to Support 1,500 New Digital Commerce Merchants via RazorPay

Bengaluru based Simpl, a company that aims to make money simple, so that people can “live well and do amazing things,” has reportedly added 1,500 new merchants through digital banking platform Razorpay during the lockdown period (following the COVID outbreak). Simpl‘s partnership with Razorpay will… Read More

Fintech Firms in India are Expecting to Make a Recovery from COVID within 6 Months: Report

Fintech companies in India are now expecting to make a recovery within the next six months, after being hit hard by the COVID-19 pandemic, which has led to many people losing their jobs and businesses shutting down. Indian Fintech firms including payments, lending and neobanking… Read More

Contactless and Digital Payments Continue to Rise in India while Retail Spending Nearly at Pre COVID Levels: Report

Retail spending and activity levels in India have now recovered to around 90% of pre- COVID-19 levels after dropping to around 55-65% of their average back in April 2020. The pace of the adoption of digital services across major channels has accelerated due to the… Read More

Digital Transformation: State Bank of India Is Making Important Changes to Operations to Handle More Online Transactions

Digital banking offers more convenience to consumers, which has become even more obvious due to the COVID-19 crisis. The shift towards all-digital financial services could be permanent, according to the State Bank of India (SBI) Chief. SBI, which is one of India’s largest lenders, is… Read More

Reserve Bank of India Releases New Cybersecurity Report which Outlines the Technology Vision for Local Banks

The Reserve Bank of India (RBI) has released a new report, titled “Technology Vision for Cybersecurity for Urban Co-operative Banks – 2020-2023.” The RBI notes that the document makes recommendations or suggestions on how to improve the nation’s cybersecurity infrastructure of its urban co-operative banking… Read More

Canada: Payments Tech Firm FSS to Help Modernize Everlink’s Card Operations

Payments tech firm FSS (Financial Software and Systems) is helping Everlink Payment Services Inc., a payments solutions working with Canadian credit unions, banks, and SMEs, modernize its card operations to support its future growth plans. According to a release, the FSS solution was chosen as… Read More

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