Tagged: india

June 24, 2020 @ 10:02 pm By Omar Faridi  |  

Chennai-based digital bank Kaleidofin has introduced a payments platform, called KaleidoPay, which lets non-bank financial company (NBFC) clients make digital payments. KaleidoPay digitizes payments, including customers’ savings contributions and insurance premiums. The platform’s software uses machine learning (ML) algorithms to process financial data. KaleidoPay can… Read More

June 19, 2020 @ 8:56 am By Omar Faridi  |  

The Robocash Group, a multinational financial group that offers consumer alternative lending and marketplace funding in European and Asian markets, has reportedly initiated a pre-IPO funding round to help finance the planned launch of its digital bank in the Philippines. Founded in 2013 in Russia… Read More

June 18, 2020 @ 11:25 pm By Omar Faridi  |  

Binance, the world’s largest cryptocurrency exchange that has successfully branched out into digital assets lending, staking, and many other initiatives, has joined the crypto-asset exchange committee at the Internet and Mobile Association of India (IAMAI), which is the leading trade body of digital businesses based… Read More

June 17, 2020 @ 7:31 pm By Omar Faridi  |  

Mumbai based online lender InCred has reportedly acquired Fintech platform Qbera. The acquisition has come as India struggles to cope with the COVID-19 outbreak and associated challenges. InCred and Qbera haven’t disclosed the amount paid for the transaction, however, sources claim the deal may be… Read More

June 16, 2020 @ 10:25 am By Omar Faridi  |  

CoinDCX, one of the largest digital asset exchanges in India, has introduced an online platform and subsidiary, called DCX Learn, which aims to serve as a comprehensive resource for people who want to learn more about cryptocurrency and blockchain tech. As mentioned in a release… Read More

June 16, 2020 @ 12:37 am By Omar Faridi  |  

Arundhati Bhattacharya, the former Chair of the State Bank of India who was ranked as the world’s 25th most powerful woman by Forbes in 2016, has argued that banking service providers must become more data-driven and also more digital. In a recent interview with Livemint,… Read More

June 15, 2020 @ 11:49 am By Samantha Hurst  |  

India-based banking group Icici Bank announced on Monday the launch of its end-to-end fully digital facility, Insta Flexicash. According to ICICI Bank, the facility enables the bank’s Salary Account customers to get approval for overdraft instantaneously and in a paperless manner. “The facility comes handy… Read More

June 15, 2020 @ 7:28 am By Omar Faridi  |  

WhatsApp Payments, an in-chat payment feature that lets customers perform transfers through the messaging app to anyone in their contact list, may finally be on track to achieve mass adoption in India. WhatsApp is owned by Facebook, (NASDAQ:FB) who bought the social media platform in… Read More

June 14, 2020 @ 9:23 pm By Omar Faridi  |  

Indian financial services group IIFL (India Infoline) recently introduced an initiative that aims to support local Fintech firms that might be experiencing challenges due to COVID-19. IIFL’s initiative, #IIFLDisrupt, aims to assist Indian Fintechs by providing funding, and potentially becoming their first client. IIFL also… Read More

June 14, 2020 @ 7:52 pm By Omar Faridi  |  

Vinay Pagaria, co-founder at India-based StockEdge, a company that helps India’s residents, particularly the younger generations, with learning more about how to responsibly and effectively invest their money in stocks and bonds, has revealed that the platform now has 1 million registered users. Pagaria claims:… Read More

June 14, 2020 @ 6:48 pm By Omar Faridi  |  

Sidharth Sogani, a Certified Bitcoin Professional and CEO at CREBACO Global Inc, a credit rating firm for exchanges, blockchains and coin offerings, has argued that it’s clear the Indian government hasn’t figured out how Bitcoin (BTC) works. There’s a new proposal that aims to ban… Read More

June 13, 2020 @ 9:36 am By Omar Faridi  |  

Indian officials are reportedly considering passing a law that would ban the use of decentralized cryptocurrencies.  As reported by India’s Economic Times, the nation’s government might see a legal framework as being more effective than the Reserve Bank of India’s (RBI) blanket ban on crypto-assets…. Read More

June 12, 2020 @ 6:25 pm By Omar Faridi  |  

David Chan, CEO at Monedo (previously Kreditech), a point of sale (PoS) lender that claims to have more than one million customers who have reportedly received over 2 million loans (as of March 2020), says that the online lender has a global addressable market of… Read More

June 10, 2020 @ 10:30 am By Samantha Hurst  |  

India-based fintech Tabby announced this week it raise of $7 million through its latest funding round, which was led by Raed Ventures with participation from MSA Capital and existing investor Arbor Ventures. Founded in 2019, Tabby states it provides customers with the flexibility to pay… Read More

June 9, 2020 @ 11:30 pm By Omar Faridi  |  

Centralized digital asset exchanges such as CoinDCX and WazirX in India have been aggressively marketing their services to the nation’s residents, after the Supreme Court of India struck down the Reserve Bank of India’s (RBI) blanket ban on crypto-asset businesses in March 2020. Peer to… Read More

June 9, 2020 @ 10:32 pm By Omar Faridi  |  

Philippines based Ayannah, an online financial services provider, and India’s payments firm Equity Capital Advisors (ECAPS) have merged their operations in order to provide cost-effective and more accessible financial services to South Asia and Southeast Asia’s growing middle-class population. The merged entity will aim to… Read More

June 9, 2020 @ 9:49 pm By Omar Faridi  |  

NSRCEL, a startup hub established at the Indian Institute of Management Bangalore (IIMB), has released its list of 25 Fintech companies that have been shortlisted to take part in a 15-month business and product development program. Through the program, these Fintech startups can expect to… Read More

June 7, 2020 @ 10:30 pm By Omar Faridi  |  

The Reserve Bank of India (RBI) noted on June 5, 2020, that it will be establishing a Payments Infrastructure Development Fund in order to promote digital payments adoptions across the nation, which is struggling to cope with the deadly COVID-19 outbreak. The RBI confirmed that… Read More

June 6, 2020 @ 2:56 pm By Omar Faridi  |  

Nischal Shetty, founder and CEO at WazirX, an Indian cryptocurrency exchange acquired by Binance, claims that government agencies in the country have begun to take more interest in understanding and even helping to grow the nation’s nascent digital asset and blockchain ecosystem. Shetty noted via… Read More

June 5, 2020 @ 10:00 pm By Omar Faridi  |  

The digital asset and blockchain space is still in its infancy or early stages of development. There are many companies working on developing key infrastructure needed to support emerging cryptocurrency businesses. Cybersecurity, ID verification, AML/KYC processes, and even cryptocurrency-related insurance services are already being developed… Read More