Tagged: india

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

April 9, 2020 @ 10:00 pm By Omar Faridi  |  

Neobank Amica Technologies, which is managed by Jitendra Gupta, the former PayU India’s chief executive, has acquired $2 million in capital through an investment round led by two major VC firms, including UK-based Hummingbird Ventures and US-headquartered Bedrock Capital. Gupta said his company is planning… Read More

April 8, 2020 @ 8:16 pm By Omar Faridi  |  

Capital G-backed Aye Finance, a leading Fintech lender, has reportedly secured INR 180 crore (appr. $23.8 million) in debt funding in the past 15 days from several major firms in India and investors located abroad. Aye’s management noted that it managed to acquire these funds… Read More

April 6, 2020 @ 9:30 pm By Omar Faridi  |  

India-based PayU, a leading payment gateway, has introduced several projects and measures,  in order to assist local vendors, small and medium enterprises (SMEs), and business owners in dealing with the disruption due to the Coronavirus (COVID-19) outbreak. The initiatives launched by PayU will help businesses… Read More

March 30, 2020 @ 8:01 am By Samantha Hurst  |  

India-based banking group Icici Bank announced on Monday it has launched its banking services on WhatsApp in oder to enable retail customers to undertake in a “slew of banking requirements” from their home.  Anup Bagchi, Executive Director, ICICI Bank, stated that through WhatsApp, retail customers may… Read More

March 26, 2020 @ 6:28 pm By Omar Faridi  |  

The National Payment Corporation of India (NPCI), a local, non-profit umbrella organization for operating retail payments and settlement systems in the country, has requested the nation’s residents to make digital payments in order to reduce physical contact during the deadly coronavirus (COVID-19) outbreak. The NPCI,… Read More

March 25, 2020 @ 8:45 pm By Omar Faridi  |  

SOLV, an online marketplace that matches lenders and micro-, small and medium-sized MSME borrowers, has expressed concerns regarding the coronavirus (COVID-19) outbreak, which has resulted in economic uncertainty and instability. SOLV, which is a B2B platform backed by the Standard Chartered Bank, expects SMEs to… Read More

March 24, 2020 @ 11:34 pm By Omar Faridi  |  

Big Data and artificial intelligence firm ADVANCE.AI aims to assist businesses based in Asia with their digital transformation strategies. ADVANCE.AI is expanding its business operations into India by establishing business offices in Bangalore and New Delhi. The Singapore-headquartered firm also intends to open an office… Read More

March 23, 2020 @ 10:11 pm By Omar Faridi  |  

TFP Solutions Bhd, a provider of business productivity solutions and services for large enterprises, is planning to market the OneCENT mobile-based Fintech platform to local consumers in Malaysia after the Movement Control Order (MCO) has been lifted. Datuk Hussian A Rahman, managing director and board… Read More

March 23, 2020 @ 11:15 am By Omar Faridi  |  

Indian authorities have arrested a woman who allegedly stole 64 Bitcoins (BTC), valued at around $380,000 (at time of writing), from a company where she had been working. Ayushi Jain, a 26-year-old woman, had reportedly been employed at Bitcipher Labs, a Bengaluru-headquartered firm. As confirmed… Read More

March 22, 2020 @ 9:52 pm By Samantha Hurst  |  

HUMBL, a US fintech that delivers mobile payments and financial services, announced on Friday it has formed a new partnership with India’s payment service Digital India Payments Limited to help with its expansion into the country’s market. HUMBL describes itself as a mobile, financial services… Read More

March 18, 2020 @ 11:10 pm By Omar Faridi  |  

India-based Vivriti Capital, an online debt platform, has reportedly secured INR 3.5 billion (appr. $50 million) in funding through a Series B investment round from LGT Lightstone Aspada. Vivriti’s latest round has come only around 10 months after the firm’s Series A round from US-headquartered… Read More

March 18, 2020 @ 9:52 am By JD Alois  |  

Hedera Hashgraph an “enterprise-grade” distributed ledger technology (DLT) that seeks to solve many of the issues plaguing existing iterations of blockchain, has received a nice endorsement of sorts. Wipro Limited (NYSE:WIT) has joined the Hedera Governing Council.  Wipro is an India-based IT company. Wipro operates… Read More

March 18, 2020 @ 8:08 am By Omar Faridi  |  

Khatabook, a business app that helps micro-, small and medium-sized enterprises (MSMEs)  with performing digital transactions, has revealed that it has entered a partnership with former Indian Cricket captain Mahendra Singh (MS) Dhoni. MS Dhoni, the World Cup-winning skipper, will make a strategic investment in… Read More

March 18, 2020 @ 7:26 am By Omar Faridi  |  

The Reserve Bank of India (RBI), the nation’s central bank, has announced that it will be lowering the capital requirements for payment aggregators. This move may further increase the number of digital transactions carried out in the country. The RBI noted in a statement published… Read More