Tagged: india

March 16, 2020 @ 11:48 pm By Omar Faridi  |  

India-based NBFC Clix Capital Services Pvt Ltd (Clix), an established online lending platform, has introduced an artificial intelligence (AI)-powered bot, called “Maya,” in order to improve customer experience. Maya will assist the lending service’s clients in acquiring quick loans by first checking their credit scores… Read More

March 15, 2020 @ 10:45 am By Xu Gao  |  

The PBC, NDRC and Four Other Authorities Jointly Release the Work Plan for Coordinated Regulation of Financial Infrastructures In order to strengthen the construction of financial infrastructure, coordinate the regulation of important financial infrastructures and improve the capability of the financial sector to serve the… Read More

March 13, 2020 @ 2:16 pm By Omar Faridi  |  

The ongoing competition between traditional banks and innovative Fintech firms might be coming to an end or is already over, according to Barclays, a British multinational investment bank and financial services company with over $1.2 trillion in assets. A recent report from the London-headquartered investment… Read More

March 10, 2020 @ 9:31 pm By Omar Faridi  |  

India-based Fintech industry participant U GRO Capital aims to assist women business owners by offering them convenient access to working capital. U GRO Capital is an online lending platform that focuses on small and medium-sized (SME) businesses. The firm has introduced an unsecured lending product,… Read More

March 10, 2020 @ 4:39 pm By Omar Faridi  |  

A study recently published by Juniper Research has revealed that total spending on artificial intelligence (AI)-enhanced platforms and solutions will surpass $15 billion by 2024. Juniper Research’s latest study, titled AI Strategies for Network Operators: Key Use Cases & Monetisation Models 2020-2024, noted that only… Read More

March 9, 2020 @ 11:06 am By Samantha Hurst  |  

Online payment processing provider Allied Wallet announced on Monday its new plans to bring blockchain technology to India’s e-commerce market. Allied Wallet reported that it and its Founder Andy Khawaja have supported India’s e-commerce growth for many years and now aim to bring their e-commerce… Read More

March 7, 2020 @ 8:51 pm By Omar Faridi  |  

Pine Labs has teamed up with ZestMoney, a leading consumer lending Fintech firm based in India. Through the partnership, the companies will offer in-store digital equated monthly installment (EMI) options to “new-to-credit” customers via Pine Labs’ Plutus and Plutus Smart point of sale (PoS) devices. … Read More

March 7, 2020 @ 2:43 pm By Omar Faridi  |  

Leap Finance Inc., a Fintech-focused platform for Indian students who are planning to enroll in international higher education programs, has secured $5.5 million in capital via a round led by Sequoia Capital.  Bhupinder Singh, founder and CEO at Incred, Kunal Shah, founder and CEO at… Read More

March 6, 2020 @ 7:27 am By Omar Faridi  |  

India’s banking regulator, the Reserve Bank India (RBI), has issued an update regarding how it plans to regulate the country’s Fintech and regulatory technology, or Regtech, industry. The RBI is establishing three new divisions, which include one unit to regulate Fintech, another unit to oversee… Read More

March 5, 2020 @ 8:05 am By Omar Faridi  |  

CoinDCX, one of the largest cryptocurrency exchanges in India, revealed on March 4, 2020 that it has become the first digital asset trading platform in the country to integrate bank account transfers.  This development has come right after the Supreme Court of India lifted the… Read More

March 4, 2020 @ 8:02 am By JD Alois  |  

Earlier today, Crowdfund Insider reported on the Supreme Court of India’s ruling on cryptocurrency that removed restrictions on virtual currency transactions imposed in April 2018 by the Reserve Bank of India. The ban impeded banks from providing services to entities dealing with cryptocurrencies. Of course,… Read More

March 4, 2020 @ 7:27 am By Omar Faridi  |  

In a landmark ruling, the Supreme Court of India on March 4, 2020 officially removed the restrictions imposed by the Reserve Bank of India (RBI) on regulated commercial entities, which prohibited local banks and non-banking financial companies (NBFCs) from offering services to firms and individuals… Read More

March 3, 2020 @ 7:07 am By Omar Faridi  |  

SMEcorner, an online lender for small and medium-sized enterprises (SMEs), has acquired $30 million in funding through a Series B round, which reportedly includes a combination of debt and equity.  SMEcorner is based in Mumbai, India. SMEcorner’s investment round was led by Paragon Partners, which… Read More

February 29, 2020 @ 5:28 pm By Omar Faridi  |  

Bengaluru-headquartered Cashfree, a business payments platform, has teamed up with HDFC Bank, Kotak Bank and IndusInd Bank in order to enhance its bulk disbursal platform, called Payouts. Payouts is an API-based banking platform that automates how funds are transferred (in bulk) to any firm’s bank… Read More

February 28, 2020 @ 2:15 pm By Omar Faridi  |  

Bengaluru- based PhonePe, a company owned by the world’s largest retail company Walmart, has acquired INR 4.27 billion (appr. $60 million) in capital from its Singapore-headquartered parent firm – as confirmed by the Registrar of Companies filings and several media reports.  According to documents sourced… Read More

February 27, 2020 @ 9:48 pm By Omar Faridi  |  

Neobank Niyo has partnered with National Payments Corporation of India (NPCI) in order to promote greater financial inclusion. Niyo will work with NPCI to provide modern financial services to more than five million blue-collar workers in India by 2022.  Niyo offers an employee payroll solution,… Read More

February 27, 2020 @ 9:20 pm By Omar Faridi  |  

An increasing number of Indian consumers are making digital payments at metros and also at stores in small towns. India-based SBI Cards, a major payment solution provider, is reportedly planning to raise approximately $1.4 billion via an initial public offering (IPO) which would be the… Read More

February 26, 2020 @ 10:26 pm By Omar Faridi  |  

Unified Payments Interface (UPI), which is an instant and real-time payment system created by India’s National Payments Corporation for handling inter-bank transfers, is the most widely-used  loan repayment method, with 50% of such transactions using UPI.  ECS payments, which handle bulk transfer of funds from… Read More

February 25, 2020 @ 10:19 pm By Omar Faridi  |  

Europe has had a solid year in terms of total Fintech funding as it secured $58.1 billion in capital last year, which is significantly greater than the $43.4 billion the industry acquired back in 2018 – according to a recent report from Big Four auditing… Read More

February 25, 2020 @ 9:49 am By Samantha Hurst  |  

Envestnet | Yodlee (NYSE: ENV), a data aggregation and analytics platform for digital financial services provider, announced on Tuesday it has acquired FinBit.io, a financial data aggregation and analytics platform provider for the India and Asia market. Founded in 2017,  FinBit.io describes itself as a data analytics… Read More