Monday, March 10

Tag: Fintech

Navi’s 90-10 Rule: Scaling Up Despite RBI’s Unsecured Loan Norms
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NBFC, Digital Lending, Fintech, Startups

Navi’s 90-10 Rule: Scaling Up Despite RBI’s Unsecured Loan Norms

Navi Technologies Scaling Up Despite RBI’s Unsecured Loan Norms In an exclusive interview with Moneycontrol, Navi Technologies founder and chairman Sachin Bansal revealed that despite the recent tightening of risk weight for unsecured loans by the Reserve Bank of India (RBI), the company has been scaling well. Navi Finserv, a fintech company, is currently offering its third non-convertible debentures (NCDs) with an issue size of Rs 600 crore. Notably, around 90 percentof Navi’s portfolio consists of unsecured loans, such as personal loans, while the remaining 10 percent comes from home loans. Also Read:Microfinance Sector Witnesses Robust Growth: Loan Accounts Surge 9% and NBFC Disbursements Soar 32% What’s particularly interesting is that two-thirdsof Navi Technologies’ cus...
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Trust Fintech IPO Subscribed Over 11 Times on Day 2; GMP Surges, Last Day to Apply
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Payments, Fintech

Trust Fintech IPO Subscribed Over 11 Times on Day 2; GMP Surges, Last Day to Apply

In a remarkable show of investor interest, the Trust Fintech IPO, a small and medium-sized enterprise (SME) offering, witnessed a subscription rate of over 11 times on the second day of the subscription period. With today marking the last day to apply, the IPO has garnered significant attention from the investing community. Impressive Retail Investor Participation Retail investors displayed tremendous enthusiasm for the Trust Fintech IPO, as the portion reserved for them was subscribed a remarkable 18.44 times on the first day of the subscription period. This strong participation signifies the confidence retail investors have in Trust Fintech's growth potential. Subscription Details and Allocation Breakdown The subscription data reveals a robust response from different investor categor...
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Fintech’s Global Payment Domination Race, 2024
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Fintech, Payments

Fintech’s Global Payment Domination Race, 2024

In the ever-evolving landscape of financial technology (fintech), global payments have emerged as a lucrative market. Startups and established players alike are vying for a slice of this pie, driven by the increasing demand for cross-border transactions. Let’s delve into how fintech companies are positioning themselves to tap into this opportunity. The Rush for PA-CB Licenses The Players: Domestic payment aggregators like Razorpay and Cashfree are leading the charge. Newer entrants such as PayGlocal and Skydo are also in the race. The Licence: To offer international payment services, both existing players and newcomers must apply for a payment aggregator-cross border (PA-CB) licence from the Reserve Bank of India (RBI). The deadline for applications is April 30. The Opportunity...
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The Economics of Holi: Celebrating Color, Culture, and Commerce
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Economics

The Economics of Holi: Celebrating Color, Culture, and Commerce

Holi, the vibrant festival of colors, is not only a time for joyous celebration and cultural festivities but also an occasion that holds economic significance. Originating in India, Holi has transcended borders and gained recognition as a global festival. In this article, we explore the economics of Holi, examining its impact on various sectors and shedding light on the financial aspects associated with this colorful extravaganza. The Colourful Economics of Holi 1. Tourism and Hospitality Industry: According to the Ministry of Tourism, Government of India, Holi attracts a substantial number of international tourists. In 2019, around 300,000 foreign tourists visited India during the Holi season. A report by the Federation of Hotel & Restaurant Associations of India (FHRA...
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The Evolution of Compliance in Banking and Fintech: A Reflection, 2024
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Fintech, Payments, Regtech

The Evolution of Compliance in Banking and Fintech: A Reflection, 2024

In the dynamic landscape of financial services, compliance has emerged as a cornerstone, ensuring the integrity and stability of banking and fintech operations. The journey, however, has been fraught with lessons, some learned at a high cost. A striking example from 2006 highlights the gravity of compliance: a bank dismissed its entire current account team for opening over 700 accounts using the same template—a practice that was replicated across various banks over the years. As banks embarked on partnerships with fintech companies, the focus on regulatory compliance seemed to wane, overshadowed by business interests. The fintech sector’s vibrancy and innovation made traditional banking institutions appear outdated in comparison. From Template Troubles to Tech Triumphs: The Banking Com...
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9Unicorns’ Fifth D-Day: Over 20 Startups Set to Secure $110 Mn Funding
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Startups

9Unicorns’ Fifth D-Day: Over 20 Startups Set to Secure $110 Mn Funding

In a significant development for the Indian startup ecosystem, 9Unicorns, the venture capital fund, is gearing up for its fifth D-Day. Over 20 promising startups are poised to secure a whopping $110 million in funding. This funding event marks a remarkable milestone, especially considering the challenges posed by the pandemic and economic fluctuations. The startups selected for this funding round span diverse sectors, including SaaS, fintech, healthtech, and edtech. The investment will fuel their growth, innovation, and market expansion. With 9Unicorns’ backing, these startups are well-positioned to make a significant impact in their respective domains. This article sheds light on the thriving Indian startup landscape and the crucial role played by venture capital firms like ...
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UBS to Cut 70 Staff in Asian Wealth Management Division: Restructuring Update
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Fintech, Wealthtech

UBS to Cut 70 Staff in Asian Wealth Management Division: Restructuring Update

UBS, a prominent wealth management entity, has announced plans to downsize its staff in the wealth management division across Asia. The restructuring initiative will primarily affect operations in Hong Kong and Singapore and is expected to result in a reduction of approximately 70 positions. The decision comes amidst a challenging financial climate that has impacted the profitability of UBS's Asian wealth management sector. While specific details remain undisclosed, this move reflects the ongoing adjustments within the financial industry as firms navigate fluctuating market conditions.   Read More on : Fintech News Also Read: PPRO Raises €85m in Funding to Drive Global Payment Expansion and Market Domination Future of Payments in India : 5 Key Predictions
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PPRO Raises €85m in Funding to Drive Global Payment Expansion and Market Domination
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Fintech, Payments

PPRO Raises €85m in Funding to Drive Global Payment Expansion and Market Domination

PPRO, a leading local payments platform, has successfully secured €85 million ($92.8 million) in funding through a dual-tranche funding round. The investment comes from a mix of new and existing investors, including prominent names like Eurazeo, HPE Growth, and PayPal Ventures. With this infusion of capital, PPRO plans to fuel its growth in key markets and further enhance its global network of local payment methods. This funding round follows PPRO's remarkable performance in 2023, which saw the company achieve record revenue. PPRO's mission is to simplify access to local payment methods, and this funding will enable the company to continue providing seamless payment experiences to customers worldwide. Read More on: Fintech Magazine Also Read: 7 Key Insights from FinTe...
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7 Key Insights from FinTech LIVE Dubai, 2024
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Payments, Events, Fintech

7 Key Insights from FinTech LIVE Dubai, 2024

One notable event that recently took place was FinTech LIVE Dubai, featuring Srinivasan Sampath, Acting Group CTO at First Abu Dhabi Bank. This insightful conference brought together influential leaders in the fintech industry to share their knowledge and experiences. In this article, we'll highlight seven key insights from the event, providing valuable information for finance enthusiasts and professionals alike.   Insight 1: Connecting Fintech Leaders: FinTech LIVE Dubai is a premier platform that connects the world's leading fintech experts. The event serves as a networking opportunity for executives from various sectors such as finserv, banking, and insurance in the Middle East and Africa. By fostering collaboration and knowledge sharing, FinTech LIVE Dubai creates an en...
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Future of Payments in India : 5 Key Predictions
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Fintech, Payments

Future of Payments in India : 5 Key Predictions

The digital payments landscape in India has experienced rapid growth over the past decade, and it is expected to continue evolving in the coming years. In this article, we will explore the key predictions for the future of payments in India based on a report by NTT Data Payment Services. These predictions shed light on the trends and developments that will shape the payment industry and provide valuable insights for businesses and consumers alike. The Rise of UPI: Unlocking the Potential of Digital Transactions The Unified Payments Interface (UPI) has been a transformative force in India's digital payment ecosystem. UPI facilitates instant fund transfers between bank accounts through mobile devices, making transactions quick, convenient, and secure. The report predicts that UPI will co...
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