Page 13 - Fintech

Fintech start-up offering tools to reduce credit risk raises $3.2 million

Less than 15 per cent of the 50+ million small businesses in India have access to formal credit

Kerala Startup Mission, UK fintech firm tie up to help local enterprises

Pact is aimed at creating an open-innovation ecosystem and solutions for future financial services in retail banking, transaction banking, lending and treasury and capital markets

Fintech committee recommends new legal framework for consumer protection

The Steering Committee on fintech-related issues has also suggested cash flow-based financing for micro, small and medium enterprises

Statspeak: Four reasons why FinTech adoption remains on the rise

FinTech challengers are looking less like start-ups and more like professionally managed companies

Tax sops, funding access: What fintech, start-ups expect in Budget 2019

The government needs to attack on the front foot by easing liquidity conditions and bringing in needed regulatory changes to aid job creation, said Bhupinder Singh, CEO and founder, InCred

Neo-banking start-up Open raises Rs 210 cr from Tiger Global, others

Plans to use funding to scale up team, launch more products and value-added services, expand reach to one mn SMEs in next one year

Fintech players expect govt to opt for market-driven approach to pricing

To broaden the presence of digital payments and enhance volume of transactions, a high-level panel led by Infosys co-founder Nandan Nilekani has recommended reduction in costs

Fintech firms may cause significant disruption to financial system: Lagarde

Rapid development of financial technology has raised concern about the increasing dominance of big technology firms in mobile payments, said Christine Lagarde

How fintech firms are disrupting the corporate banking ecosystem

The new age companies use different tenets of digital technologies to keep them agile and keep the business model transparent to service the digital savvy customers effectively

RBI releases draft framework for regulatory sandbox to help fintech space

The sandbox will begin the testing process with 10-12 selected entities focusing on financial inclusion, payments and lending, digital KYC, etc

Digital loans soar on faster adoption by millennials, low-salary customers

Fintech start-ups like CASHe, Early Salary, Loantap, NIRA Finance are witnessing robust loan demand on their platforms

Electronics Ministry, TN govt to jointly build start-up fintech centre

Centre will be set up under STPI's present incubation programme TechNEST, will function in a two-tier mechanism for monitoring and operations

Fintech firms may see curbs on consumer credit data access: Experts

Various fintech firms have opted for credit scoring partnerships to facilitate lending in online marketplaces like Bankbazaar

Fintech delegation led by London Lord Mayor to arrive in India on Sunday

Fintech is a new industry that uses technology to improve activities in finance

Reform financial space with new policies backed with AI, cryptocurrency

We need an open access to all entities desiring to serve the mass middle and bottom of the pyramid without restricting operations through the banking channel

Fintech start-ups, traditional players join hands to target millennials

India's digital drive coupled with increasing smartphone penetration and data usage has created a huge market for fintech startups which are targeting young salaried professionals. Traditional financial services providers are partnering with these startups to jointly address business opportunities from these digital first customers. These partnerships are being expedited as there's a feeling among majority of incumbent players of being left behind by technologically savvy startups. "Fintech is going to get much bigger than what it is with UPI, demonetization and smartphone usage driving digital money adoption. Payment and lending space will see lot of action due to a huge unbanked population here," said Vidhya Shankar, Executive director Grant Thornton LLP. "Banks and NBFCs need to come on board as strategic investors to capitalize this trend because while the startups have revolutionary algorithms, they still need data to fine tune it." Shankar further states that consumers are ...

Fintech-bank collaboration yields smarter outcomes, says RBI's Kanungo

BS ReporterHyderabad, 1 September: Reserve Bank of India deputy governor B P Kanungo on Friday said Fintech companies need to collaborate with banks for better service outcomes for the customers."Fintechs are playing a vital role in the emerging areas of payment and settlement systems...( However,) can they exist in isolation? The answer is 'No'. Collaboration by banks and Fintechs will yield smart outcomes and smart banks will find smarter ways for better use of Fintechs to serve smarter customers who are now demanding better, easy to use services," Kanunga said in an address read out by RBI executive director Ganesh Kumar at an event here.According to him, the marriage between Fintech and banking also has its attendant challenges and these risks can be minimised by migrating to co-sourcing with specific role clarity.He also cautioned people against sharing the personal information on social networking platforms and entertain unsolicited offers, particularly related to IT-based ...

Fintech companies may see more investor interest this year: Report

Corporate interest in fintech is also expected to increase in India over the next year

3 reasons why collaboration between fintech firms and banks makes sense

There may not be much merit in pitting one against the other, reports Tech in Asia

NRI-led fintech startup starts online transaction platform in Singapore

It allows cheap transfer of funds to India; intends to expand transfers to Malaysia, Hong Kong, Australia