Page 20 - Fintech

Fintech lenders align business model with RBI's digital lending norms

The RBI came out with the guidelines on digital lending in September and gave time until November 30 for players to comply with the 'existing loan' category

BharatPe sees fresh resignations at top level as CTO, CPO move on

Fintech platform BharatPe has hit with a fresh wave of resignations at the top level, as its chief technology officer Vijay Aggarwal and Rajat Jain, chief product officer (CPO), have quit among others

PhonePe set to acquire fintech start-up ZestMoney for about $300 mn

Deal expected to be closed in two-four weeks, says source

China set to fine Ant Group over $1 bn, signalling revamp nears end

A fine on Ant could help pave the way for the company to secure a long-awaited financial holding company license, seek growth again, and eventually revive its plans for a public market debut

Paytm stock crashes 11% to end at all-time low of Rs 477 a share

Macquarie report says the fintech firm could face headwinds with the entry of Jio Financial Services, which may focus on consumer and merchant lending, the mainstay of Paytm's business

Jio Financial Services could become fifth largest fin service entity: Study

Reliance firm can disrupt payments business and become a threat to other fintech models, say analysts

Tiger Global offloads 2.98% shares of PB Fintech worth Rs 522 crore

Tiger Global Management on Monday offloaded shares of Policybazaar's parent firm PB Fintech for Rs 522 crore through open market transactions. PB Fintech operates online insurance platform Policybazaar and credit comparison portal Paisabazaar. According to the bulk deal data available with the National Stock Exchange (NSE), funds managed by Tiger Global -- Tiger Global Eight Holdings and Internet Fund III Pte -- sold a total of 1,34,17,607 shares, amounting to 2.98 per cent stake in the company. The shares were disposed of at an average price of Rs 389.38-Rs 389.44 apiece, taking the transaction value to Rs 522.50 crore. Meanwhile, WF Asian Reconnaissance Fund acquired 50 lakh shares of the company. Last week, Tiger Global Management divested 3.5 per cent stake in PB Fintech. As of quarter ended September, Tiger Global through its fund Tiger Global Eight Holdings owned 4.23 per cent and through Internet Fund III Pte held 2.87 per cent stake in the company, shareholding data showe

A Rs 5,000 cr opportunity: Hinterland is Pine Labs' BNPL money-spinner

These include products like smartphones, wearables, large appliances, smart televisions, and washing machines

IPO-Bound CarDekho to infuse $100 million in its fintech subsidiary Rupyy

Rupyy recently unveiled India's largest QR code-based loan platform, which is available to more than 2,200 vehicle dealerships and distributors nationwide

Founding Fuel launches a paywall on select stories facilitated by Fewcents

The users will be allowed to make payments for a select set of individual stories instead of purchasing a bundle

RBI governor Shaktikanta Das cautions on backdoor entry in financial space

Although some number of complaints is expected from such a large financial system, the concerning fact is much of the complaints pertain to traditional banking

After 5G, here's how Ambani will use financial services to tighten DNA loop

A successful fintech loans platform draws upon what the Bank for International Settlements calls a self-reinforcing "DNA loop," shorthand for data, network and activity

Balancing innovation and fair play needed: CCI chairman Ashok Kumar Gupta

We need to be sensitive to market demand while approving proposed acquisitions.

More companies will have to focus on profitability in future: Nikhil Kamath

If interest rates continue at their current trajectory, the appetite will go down, impacting the consumption and the markets, co-founder of Zerodha and True Beacon said

Walmart's PhonePe investing $200 mn to set up data centres in India

The Bengaluru-based firm is setting up data centres in India at a time when it has completed three steps to move its domicile to India

BharatPe's PoS vertical turns profitable within 2 years of launch

BharatPe is the No. 2 private POS player in the country with an installed base of close to 2 lakh machines across more than 250 cities in the country, the firm said in a statement

63 moons to provide next-gen tech to Italian firm; eyes pan-European mkts

63 moons technologies, formerly known as Financial Technologies, on Tuesday said it will provide next-generation technology solutions to Italy-based Spuma SRL as it targets pan-European markets. In addition, 63 moons said it will evaluate global giants in cloud computing services like Amazon's AWS, Microsoft's Azure and Google cloud for deploying the technology, the provider of technology solutions to financial markets said in a regulatory filing to the BSE. 63 moons provides next-generation technology ventures and solutions for creating digital markets and marketplaces that enable price discovery and transaction efficiencies across industry segments. The announcement comes a day after 63 moons said that it will not provide technology support to Multi Commodity Exchange (MCX) after September 30. As per the filing, Spuma SRL will leverage 63 moons' expertise on real-time mission critical solutions, using the latest technology suite. The company will be offering a SaaS ...

Red signals for fintech industry: The valuations game of the past is over

RBI Governor Shaktikanta Das' traffic light imagery for the fintech industry has several implications

PhonePe opens swanky 50,000 sq ft office in Pune to accommodate 400 people

In addition to the dynamic work spaces, the new office has a 3,000 square feet cafeteria that will serve local and multi-cuisine food for the company's diverse employee base

Axis Bank looking at more partnerships with Big Tech: Axis Bank MD

Amitabh Chaudhry says the private lender spends Rs 900 crore every buying priority sector lending certificates to meet its targets