Page 19 - Fintech Sector

Compliance costs may spur fintech sector consolidation: Industry experts

The minimum cost of compliance has nearly doubled over the past year, say companies

Uttar Pradesh govt invites bids for 100-acre fintech park in Noida

The fintech park, to be developed in Noida Sector 13, will encompass infrastructure amenable for the growth of financial services companies across the financial and allied value chain

Awaiting clearance on PA license, fintechs diversify into credit offerings

Meanwhile, other payment majors awaiting a decision expect to receive a nod in the first half of the next year

PhonePe launches section to help customers with credit score, bills

Fintech company says service will help users in understanding their credit health

Infibeam Avenues picks up 49% stake in Ahmedabad-based Pirimid Fintech

The partnership aims to combine Infibeam's digital payments and AI-based frameworks with Pirimid Fintech's capital market trading software for its clients nationwide and globally

Loan disbursements by FACE-fintech companies jump 43% in Q2: Report

These companies disbursed around 24.4 million loans in Q2 FY24, marking a 39 per cent Y-o-Y growth in volume from 17.5 million loans in Q2 FY23

Unsecured loan concerns: Fintechs explore long-term loans after RBI alert

Meanwhile, for the past few months, the regulator has been cautious about the increase in unsecured personal loans, which can spiral into potential bad loans

Fintechs rule the roost in India's startup ecosystem this year, shows data

While the overall investment paints a gloomy picture, a handful of firms raised big-ticket funding, and some sectors managed to hold ground

RBI plans cloud for financial data, repository for fintech information

It will be rolled out in the medium term and eventually be transferred to a separate entity owned by the financial sector participants, the regulator said

Indian banks ask fintech partners to limit tiny personal loans: Report

Several smaller fintechs have tie-ups with banks and non-bank finance companies for small-ticket personal loans

Fintech startup ZestMoney to shut down, to lay off remaining 130 employees

The management told the employees that they had to take such a tough decision as the business has not been able to grow, according to the sources.

DGV raises $6 million in funding round led by Omidyar Network India

Startup will use money to improve technology and expand business in states

GenAI, climate & fintech, hot bets for investors next year: Accel's Prakash

Generative AI is a type of artificial intelligence technology that can produce various types of content, including text, imagery, audio and synthetic data

PayU's PSP revenue up at $211 mn in H1FY24 on growth in existing merchants

The company added that India was one of its largest markets in the PSP business, contributing a share of around 48 per cent of its revenues

Ireda gains 88% on debut; Tata Tech, 2 others to list IPOs on Thursday

As per grey market operators, Tata Tech shares could gain over 80 per cent, while that of Gandhar are pegged to gain 40 per cent on debut

BharatPe turns Ebitda positive in Oct, annualised revenue up Rs 1,500 cr

The company is aiming to achieve profitability for a complete fiscal in the upcoming year

PhiCommerce raises $10 mn in funding led by Singapore-based BEENEXT

Payments solution firm will use financing to expand international business, improve technology

BharatPe turns EBITDA positive, clocks Oct 2023 as first profitable month

Without giving out the actual number, BharatPe in a statement said the financial milestone was attributed to consistent growth across all business lines

DLAI appoints Hemachandra, Prasad as independent directors to board

Fintech companies believe an SRO can consolidate multiple stakeholders on the back of a framework of common standards

Fintechs may shift to secure products after RBI order on consumer loans

Central bank's directives not a complete surprise and will prompt sector to diversify business, they say