Walmart buys $16bn share in Flipkart
Becomes largest shareholder in Indian e-commerce marketplace.
India
Indian lending start-up Finwego preps for launch
Gains momentum with innovation challenge award success.
Top fintech stories this week – 13 April 2018
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Indian challenger bank Cube preps for launch
Former founder of Citrus Pay in new adventure.
India’s central bank puts a stop to cryptocurrencies
Reserve Bank of India ushers in a new reality for virtual currencies.
Sociable ICICI Bank slings “Social Pay” your way
Indian bank offers payment transfers through social media and e-mail.
Jio Payments Bank launches in India
A joint venture between Reliance Industries and the State Bank of India.
SoftBank and Alibaba to invest $445m in Paytm E-Commerce
Values the Indian firm at about $1.9 billion.
What is the India Stack and why is it no longer the dream it used to be?
The good, the bad and the ugly of the India Stack (or Aadhaar Stack) by Devie Mohan.
PayU and Kreditech muscle into India’s lending market
Providing cardless equated monthly instalments (EMIs) to finance the online purchases of consumers in India.
Retail payments platform Pine Labs raises $82m
India’s largest digital retail payments platform Pine Labs raises $82 million in a funding round led by Actis.
RBL Bank in lendtech project with CreditVidya
India-based RBL Bank has teamed with provider of credit underwriting solutions CreditVidya.
India’s government looks for flexible fintech
Nation seeks to promote financial inclusion and make regulations more flexible.
India’s central bank issues Swift ultimatum for core banking
With a deadline of 30 April 2018.
Hackers swipe $2m from India’s City Union Bank via Swift
Three “fraudulent remittances” – sent via correspondent banks to accounts in Dubai, Turkey and China.
Fintech funding round-up: 19 February 2018
Features Lydia, Qara and Aye Finance.
Fintech funding round-up: 13 February 2018
From India via Israel to Finland – starring MoneyOnMobile, Tipalti and Zervant.
Fintech funding round-up: 12 February 2018
Featuring YapStone, Stash, Moneyfellows and Lendingkart.
India Post Payments Bank ready for nationwide roll-out
IPPB will operate via the India Post network of 155,000 branches and have 650 offices for back-end support.
NCR overhauls ATM network at BankDhofar, expands ATM access in India
The breadth of NCR’s work with financial institutions and underbanked populations around the world.
India’s RBL Bank calls for fintech start-ups
Funding and mentorship on offer for 20 firms.
Western Union unveils fintech centre in India
New 125,000 square feet facility in Pune will employ more than 1,000 individuals.
Interview: Sidd Gandhi, KyePot – dreams and savings schemes
Co-founder and CEO shares his plans for India’s chit fund (savings scheme) industry.
Mambu banking engine powers Kreditech’s lending leap to India
Will expand into the sub-continent in early 2018, together with its partner PayU.
Yes Bank and Nearby Tech bring cardless ATM services to India
With the aim to become the payments enabler for India.
Interview: Pranshu Maheshwari, SimpleMoney – on track for investment tracking
SimpleMoney’s co-founder explains the problem he’s out to solve and why he isn’t in the robo-advisory game.
NICE teams with Brightstar India
To support the launch of NICE Uptivity, a workforce optimisation solution for SMBs.
Cisco buys cloud optimisation firm Cmpute.io
Looking to take some of the pain out of managing multicloud environments.
Standard Chartered and Axis Bank launch cross-border payments via Ripple
Standard Chartered and Axis Bank have unveiled a real-time cross-border payment service for corporates using Ripple’s distributed ledger technology (DLT) solution. This offering is now commercially available between Standard Chartered (Singapore) and Axis Bank India, and, accessible through Standard Chartered’s corporate digital banking platform, Straight2Bank. Himadri Chatterjee, president, transaction banking, Axis Bank, says by using […]
Airtel Payments Bank live with new core banking system
Airtel Payments Bank, a start-up subsidiary of Indian telco Airtel, has gone live with its core banking system. This is understood to be Oracle FSS’s Flexcube.
Federal Bank opts for Intellect’s digital transaction banking platform
Federal Bank in India has selected Intellect Design Arena’s digital transaction banking (DTB) platform as part of its revamp. The system is powered by an omnichannel corporate banking exchange (CBX) portal with backend processors for collections and receivables, payables, account services and supply chain finance. Intellect says DTB will also augment the front end of […]
Top fintech stories this week – 10 November 2017
Catch up on Banking Technology’s top five fintech stories of the week – all in one place!
ICICI Bank sets the tone for voice-based payments in India
ICICI Bank has unveiled India’s first voice-based international remittance service to enable non-resident Indians (NRIs) to send money to any bank in the country. With the new feature in its Money2India (M2I) app, an NRI customer can make a remittance to existing payees in India with a voice command to Apple’s virtual voice assistant, Siri. […]
Major Indian bank looks for fintech acquihire
A major financial institution in India is looking to make a fintech “acquihire” (an acquisition of a company primarily for the skills and expertise of its staff, rather than for the products or services it supplies).
Deutsche Bank unveils first paperless import payment solution in India
Deutsche Bank has launched the “first” paperless import payment solution in India with its TradePay system. TradePay uses the Reserve Bank of India’s (RBI) Import Data Processing and Monitoring System (IDPMS) to verify import payments by checking them against details made available by the client on the system, “eliminating the need for clients to share […]
India’s fintech valley gets pally with Mastercard for smart city plan
Mastercard has partnered with the Andhra Pradesh government in India to bring its digital payments into the Fintech Valley Vizag’s smart city plan. Under the agreement, Mastercard will help Andhra Pradesh in its ambitions to be a cashless society and develop the city concept. Mastercard president and CEO Ajay Banga says it can do this […]
Utkarsh Small Finance Bank goes live with Intellect’s core banking system
Utkarsh Small Finance Bank, a microfinance institution in India, has rolled out Intellect Design Arena’s core banking system. The bank received its licence last year, and according to Intellect, one of the key requirements for Utkarsh was to have a joint liability group solution that would enable it to provide group loans to the microfinance […]
AU Small Finance Bank in GST tech project with SunTec
A new bank in India, AU Small Finance Bank, is working with SunTec to automate the goods and services tax (GST) functionality with the vendor’s Xelerate revenue management system.
TerraPay Partners with Bux for Mobile Money Transfers to India
TerraPay, a mobile payments switch, has partnered with bux, a mobile app money transfer service, to enable instant cross-border money transfers from Australia, Hong Kong, the U.K. and Europe to India.
Bank of Baroda teams with Amazon for SME lending
India’s second largest bank, Bank of Baroda, has got itself an “exclusive” micro lending partnership with Amazon. The bank says through this partnership it is running a process for underwriting Amazon sellers “who would traditionally not be able to procure a line at formal financial institutions”. The deal is part of the bank’s ambitions to […]
