Tag Archive for fintech

Fintech start-up Open Financial Technologies partners with ICICI Bank to offer a business banking platform that automates accounting for SMEs

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

TeamOpen

Imagine a world where your business current account was your accounting software. Imagine not having to chase payments with UTR numbers, where payments auto-reconcile, and accounting is something that happens automatically as you do your business.

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IndiaLends named to the 2018 CB Insights Fintech 2018 List of Fastest Growing Fintech Startups

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By Vivek K. Mobile: 09920183006 Email:indianshowbusiness@gmail.com

IndiaLends, a credit scoring and analytics platform, today announced that it has been named to the second annual CB Insights Fintech 250 list, a prestigious group of emerging private companies working on groundbreaking financial technology.

The CB Insights research team selected the Fintech 250 companies based on several factors including data submitted by each company as well as a Mosaic Score. The Mosaic Score, based on CB Insights’ algorithm, measures the overall health and growth potential of private companies. Through this evidence-based, statistically driven approach, the Mosaic Score can help predict a company’s momentum, market health and financial viability. There were 113 new companies introduced to the 2018 Fintech 250 list.

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Focusing on semi-urban and rural areas, fintech start-up True balance launches Gift Cards for unbanked users True balance targets Next Billion Users to provide financial services

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

True Balance, Financial Services Platform has unveiled a new feature gift card in the mobile app. The gift card is a fast and secure recharge option for the users.

Continuing the promise to bring “Finance for billions “, the inception of Gift cards opens a new option for the unbanked users and is an impactful step wherein the bank related frauds are on a high. This unique feature would help the unbanked users/ users who don’t want to use bank details every time to recharge and pay bills on the True balance app; thus, introducing them to digital financial transactions.

This also is a positive step where; in case the user is a non-KYC user he would not have to worry about the monthly wallet limit and can use the Gift card to transact within the app ecosystem. App users can directly add the gift card of any amount from the true balance app. Being transferable; users may gift the gift card to their loved ones on any special occasion. Read more

Focusing on semi-urban and rural areas, fintech start-up True balance launches Gift Cards for unbanked users

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

True Balance, Financial Services Platform has unveiled a new feature gift card in the mobile app. The gift card is a fast and secure recharge option for the users.

Continuing the promise to bring “Finance for billions “, the inception of Gift cards opens a new option for the unbanked users and is an impactful step wherein the bank related frauds are on a high. This unique feature would help the unbanked users/ users who don’t want to use bank details every time to recharge and pay bills on the True balance app; thus, introducing them to digital financial transactions.

This also is a positive step where; in case the user is a non-KYC user he would not have to worry about the monthly wallet limit and can use the Gift card to transact within the app ecosystem. App users can directly add the gift card of any amount from the true balance app. Being transferable; users may gift the gift card to their loved ones on any special occasion. Read more

P2P Lender Monexo Fintech gets RBI certification for NBFC – P2P

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By K Ashwin Mobile: 09920183006 Email:indianshowbusiness@gmail.com

Monexo (www.monexo.co) Fintech (P) Ltd, one of India’s leading peer-to-peer lending platform, today announced getting NBFC P2P certification from RBI for its operations.  The accreditation makes Monexo Fintech one of the forerunners in the sector to get the certification.

India’s P2P lending platform’s growth is being largely driven by the increasing penetration of digital transactions, fintech innovations, and the increasing demand for affordable credit.  The RBI certification at this juncture will propel Monexo Fintech to gain traction in financial markets and help strengthen the confidence amongst its investor community. The company is also the first P2P platform in India to provide investors with an escrow account, the option of auto-invest and an insurance cover with borrower job-loss protection.

Speaking on the development, Mr. Mukesh Bubna, CEO and Founder said, ‘We are very pleased to receive the NBFC P2P certification by RBI.  It is an important milestone for us as a team. The certification further reinforces our commitment for technology led financial inclusion for every Indian. ‘

P2P lending is slowing emerging as an alternative investment asset class in India.  The tech led platform enables easy access to credit while giving high potential returns to investors.  Monexo Fintech’s platform presently has 100000 registered borrowers and 4000 registered lenders.  Cumulatively the platform has facilitated loans worth 20 crs till date. P2P lending is projected to be worth $4-5 billion by 2023, the sector’s recent inclusion into the larger regulatory ambit has put it on an exponential growth trajectory. Read more