Reserve Bank of India outlines plans for new fintech repository and cloud facility for FS firms
The new measures also address “moral hazard issues” in lending and boost certain transaction limits.
The new measures also address “moral hazard issues” in lending and boost certain transaction limits.
OTP Bank has selected the vendor’s Intellect Digital Core (IDC) offering and lending platform.
ZestMoney’s leadership team has reportedly informed employees of its decision to wind down by the end of the month.
According to sources, over the next six to seven months, PhonePe plans to launch multiple consumer credit products.
The exit sets Berkshire Hathaway up for a loss of around 40% on its investment.
Claiming to be the Middle East’s first social payments app, Dosh Payments has been building in stealth since 2021.
The Series D funding round takes InCred Finance’s valuation up to $1.05 billion.
The bank says its remittance platform provides customers with full transparency over payments.
Vaswani currently serves as president of Pagaya and as non-executive director at LSEG.
Aurionpro says the deal “significantly accelerates” its ambitions to take its lending solutions into new markets.
Al Etihad Payments is a wholly-owned subsidiary of the Central Bank of the UAE.
Shah will be responsible for the bank’s IT security and digital channels across various functions.
Through this partnership, Spice Money aims to broaden financial inclusion across India.
Its merger with NESFB will see Slice transition into a small finance bank.
The latest fundraise comes months after AlphaSense secured $100m in Series D funding led by Alphabet’s CapitalG.
Marco Tedone, the firm’s new CTO, spent almost 12 years leading API strategy for HSBC.
Prashant Kumar, managing director and CEO of Yes Bank, says Sharma’s appointment comes “at an important juncture”.
The round consists of $50 million in debt funding and $12 million in equity.
The funding came from Kedaara Capital, and existing backers Warburg Pincus and Bessemer Venture Partners.
The deal marks another step in Finbots.AI’s push to scale across APAC.
A handy round-up of the recent funding endeavours of fintech companies across the globe.
The Yes Bank Zaggle corporate credit card seeks to enable businesses to tap operation efficiencies.
The Blaze platform aims to ensure high durability during peak workloads and improve fraud prevention.
PhonePe says the collaboration marks a “significant milestone” in its data journey.
Manohar Chadalavada is leaving the bank to be the co-founder of a fintech start-up currently in stealth.
The tech will enable users to converse with an AI system to initiate and complete transactions.
Zolve’s telecom-financial offering is tailored for expats pursuing educational or professional opportunities in the US.
Strive India will focus on micro-enterprises, women-led businesses and agri-entrepreneurs in the country.
The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors.
On completion of the deal, Svatantra says it will become the second largest microfinance entity in India.
Sharma’s shareholdings in Paytm will increase to 19.42%, while Antfin’s shareholdings are reduced to 13.5%.
PayU says the sale will allow it to focus on “the huge fintech opportunity” in India.
The announcement follows JFS’s recent demerger from Reliance Industries.
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
The Saudi bank selected TCS BaNCS to digitise its IT landscape across deposits, lending and payments.
The solution targets MMEs that lack experience and accessibility of financial and non-financial products.
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
As part of the partnership, Infosys will also acquire Danske Bank’s India IT hub, employing over 1400 people.
The MoU will help establish a joint working group on fintech between the two countries.
Our weekly fintech round-up for you to get the latest funding news from around the world.