FinTech

CIBIL score is a 3-digit number that represents your creditworthiness, i.e., how suitable you are to receive new credit from financial institutions. The Reserve Bank of India (RBI) has authorised CIBIL (Credit Information Bureau India Limited) as the credit bureau for generating a person’s credit score based on their past financial behaviour. This score can range between 300 to 900 and the closer the score is to 900, the better. Here’s how you can check your CIBIL score online for free:How to check CIBIL score on…

The RBI's recent actions have generated a wave of passionate responses from the Indian fintech community. Through this open letter, I hope to share my personal observations and opinions on some of the challenges related to the fintech landscape in India and the role of the RBI. I have always held the position that RBI is one of the strongest regulators globally and is pro-consumer and anti-risk and not anti-startup. India boasts a very stable banking ecosystem and has seen far fewer bank failures when compared to some of…

Ethiopian startup eQub is the winner of the fintech pitch-off at 4YFN 2024, Mobile World Congress’ startup event. TechCrunch was on the ground in Barcelona to meet its business development lead Nahom Michael this week. The startup’s name is an Amharic word referring to a local form of peer-to-peer credit, Michael said. An Equb is a group of people who join forces to save money, which is then distributed on a rotating basis. Known as a rotating savings and credit association, or ROSCAS, this financing modality is…

Despite regulatory challenges imposing higher governance costs, procedural delays and hurdles in establishing partnerships with banks for fintech firms, such actions serve as a runway for them to build a scalable platform in the long run, said senior partners at early-stage venture capital investor firm Elevation Capital.“I think getting a regulatory clarity might make your task tougher because it adds governance and governance cost and it may make your task longer. But I think it provides a nice runway for you to scale…

Consumer and fintech emerged as the top sectors for raising funds through venture debt in India in 2023, leading in both deal volume and total funding raised respectively.About 190 startups raised a total of $1.2 billion last year, marking a 50% increase. Venture debt globally stood at about $60-65 billion in 2023, according to the ‘India Venture Debt report 2024’ by venture debt firm Stride Ventures.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Product…

Fintech firm Mpower Financing on Wednesday announced the appointment of Jatin Rajput as its chief financial officer.Towards this step, Rajput will step down from the board of Mpower. He will be replaced in the board by Rob Partlow, Mpower’s previous CFO, who is retiring from full-time service, the student loan provider said in a statement.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Professional Certificate in Product ManagementVisitMITMIT Technology…

Now, you can use UPI (Unified Payments Interface) internationally as well, using BHIM and other third-party apps such as Google Pay, Paytm, and PhonePe. This grants you financial freedom to conduct transactions without the need to carry foreign currency or cards. Below is an easy step-by-step guide on how to activate UPI International and make payments online. So without further ado, let’s explore the process along with how UPI International works and how to use the feature.Note: For this feature to work, both your and…

In a role reversal, Xalts, a Singapore fintech startup founded 18 months ago, has acquired Contour Network, a digital trade platform set up by eight major banks including HSBC, Standard Chartered and BNP. Terms of the deal were undisclosed, but the acquisition price was in the high single millions and composed of cash and stock. Backed by Accel and Citi Ventures, Xalts enables financial institutions to build and manage blockchain-based apps. Contour was started in 2017 by a consortium of eight banks to digitize trade…

Merchant-led digital payments provider Mswipe Technologies on Monday said that it has been granted payment aggregator (PA) licence by the Reserve Bank of India (RBI).This comes after the company received an in-principle nod from the central bank to operate as a PA in August 2022.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive Programme in FinTech, Banking & Applied Risk ManagementVisitIndian School of BusinessISB Product ManagementVisitIIT DelhiIITD…

Welcome to TechCrunch Fintech (formerly The Interchange)! This week, we’re looking at a new finance-based dating app, Robinhood’s earnings results and the startup in which PayPal Ventures made its first investment. Let’s dive in! To get a roundup of TechCrunch’s biggest and most important fintech stories delivered to your inbox every Sunday at 7:30 a.m. PT, subscribe here. The big story A new dating app was released just in time for Valentine’s Day, but there’s a catch: You must have at least a…