Tagged: india

May 10, 2020 @ 1:32 pm By Omar Faridi  |  

Paytm Payments Bank, a new type of bank, licensed by the Reserve Bank of India (RBI) as a payments service provider, recently revealed that it has surpassed INR 600 Crores (appr. $79.4 million) in fixed deposit (FD) accounts, which have been maintained through a partnership… Read More

May 9, 2020 @ 1:01 pm By Omar Faridi  |  

India-based digital payments platform Simpl has reported a significant increase in transaction volume for online orders of daily essentials. The company claims there has been a 30-35% increase in the number of transactions involving the purchase of essential items. The change in consumer spending habits… Read More

May 6, 2020 @ 8:20 am By JD Alois  |  

CoinSwitch, an aggregator of cryptocurrency exchanges, has announced the launch of a dedicated cryptocurrency exchange for India. The announcement follows recent changes in India that enabled crypto exchanges to have relationships with banks. India is, of course, a huge market with profound potential for growth…. Read More

May 3, 2020 @ 2:51 pm By Omar Faridi  |  

Finablr (LON:FIN), a global platform for payments and foreign exchange solutions that was planning to secure $200 million (last year) in order to prepare to list on the London Stock Exchange, has reportedly uncovered a “hidden” debt pile of £1.3 billion ($1.625 billion). Finablr’s company… Read More

May 1, 2020 @ 10:22 pm By Omar Faridi  |  

Bengaluru-based Digital Bank RazorPay reports that there has been a significant increase in the number of digital payments, following the Coronavirus (COVID-19) outbreak. RazorPay notes in its recent report that only a month into the nationwide lockdown in India, there has been a noticeable shift… Read More

April 30, 2020 @ 10:38 pm By Omar Faridi  |  

Mumbai-based Fintech firm NIRA, which provides small-ticket loans to low-income workers via its mobile-based app and website, recently revealed that it has secured $2.1 million in funding through its pre-series A investment round. NIRA’s funding round included contributions from new and existing angel investors based… Read More

April 30, 2020 @ 9:56 pm 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, has not achieved mainstream adoption in India. The UPI-based payments service lets users send and receive funds. It has been created by the National… Read More

April 28, 2020 @ 11:00 pm By JD Alois  |  

CoinDCX, India’s largest crypto exchange, has listed Crypto.com‘s MCO and CRO tokens representing Hong Kong-based Crypto.com’s entrance into the Indian market.  Two trading pairs are now available on CoinDCX: CRO/BTC & CRO/INR. The MCO token is a payment and finance digital asset within the Crypto.com… Read More

April 27, 2020 @ 11:18 pm By Omar Faridi  |  

Kolkata-based Fintech firm StockEdge aims to help India’s residents, particularly the younger generations, with learning more about how to responsibly and effectively invest their money in stocks, bonds, funds, and various other financial instruments. As the world struggles to cope with the economic challenges created… Read More

April 27, 2020 @ 2:27 am By Omar Faridi  |  

  India-based Tata Consultancy Services Ltd. (TCS), the country’s largest multinational information technology (IT) service and consulting firm, confirmed recently that it will launch the very first all-digital bank in Israel. As previously reported, Tata’s neobank project aims to transform existing business and banking processes…. Read More

April 26, 2020 @ 8:50 pm By Omar Faridi  |  

India-based Datacultr, a platform as a service provider that allows consumer lending firms to significantly reduce their risk on “new to credit”​ customers, confirmed that it will be enabling banks, non-banking financial companies (NBFCs), and other financial service providers to lend securely while reducing risk… Read More

April 25, 2020 @ 10:01 pm By Omar Faridi  |  

CPP Group Plc (CPP) has confirmed that its Indian-headquartered Business Process Management (BPM) firm Globiva will be extending its product offering to customers based outside of India. The company intends to offer services to clients in the US and the UK. CPP is based in… Read More

April 25, 2020 @ 8:00 pm By Omar Faridi  |  

Rajashekara Visweswara Maiya, vice president and head of business consulting, cloud and blockchain efforts at Finacle, the developer of a financial software system used by large banks across the globe (serving over 1 billion people), recently shared his views and insights with Crowdfund Insider. Finacle… Read More

April 23, 2020 @ 8:47 pm By Omar Faridi  |  

Chennai-based YAP, an established API Fintech platform, has secured $4.5 million in capital through a Series A investment round, which was led by BEENEXT, a Singapore-based venture capital company. Other individuals and organizations that took part in YAP’s latest round include: 8i Ventures Fund, The… Read More

April 18, 2020 @ 8:23 pm By Omar Faridi  |  

Digital banks or neobanks have now been around for several years. There are many challenger banks that aim to compete with and provide better financial services than traditional banks and institutions. Conducting transactions online has become more popular due to the deadly Coronavirus (COVID-19) outbreak…. Read More

April 15, 2020 @ 10:19 pm By Omar Faridi  |  

India-based PhonePe, a major digital payments platform, will be supporting delivery as an option through its app. The Bengaluru-headquartered Fintech firm will introduce a feature in the “Stores” section of its app, which will allow users to have groceries and other essentials delivered to their… Read More

April 15, 2020 @ 10:32 am By Omar Faridi  |  

Fintech firm Zaggle, which leverages artificial intelligence (AI) and deep learning to provide innovative solutions to Indian businesses, reportedly had a turnover of around INR 1800 Crores (appr. $237 million) for the 2018-2019 financial year (FY). Zaggle is now expecting to generate INR 3500 Crores… Read More

April 15, 2020 @ 1:05 am By Omar Faridi  |  

India-based HDFC Bank, the nation’s largest private sector lender, recently issued a warning regarding a potential increase in fraudulent activities online, including phishing scams. Sameer Ratolikar, chief information security officer at HDFC Bank, said during a conference call that the cybercriminals and hackers could begin… Read More

April 14, 2020 @ 6:51 pm By Omar Faridi  |  

Indian Fintech firm Navi Technologies, a company that aims to make financial services simple, affordable and more accessible, has secured INR 2.04 billion (appr. $26.75 million) in equity funding from Gaja Capital, a Mumbai-based private equity company. Navi aims to develop consumer-centric and technology-driven businesses… Read More

April 12, 2020 @ 10:07 pm By Omar Faridi  |  

Bengaluru-based Jana Small Finance Bank, a scheduled commercial bank, has introduced a new digital banking solution, called DIGIGEN. The neobank will allow users to digitally open a savings account and offers various fixed deposit options, which can be accessed instantly from anywhere at any time…. Read More