FinTech

The Reserve Bank of India’s efforts to implement the programmability and offline functionality of the central bank digital currency (CBDC) are going to drive the next fintech wave, said National Payments Corporation of India (NPCI) managing director Dilip Asbe.He was speaking at a panel discussion with Jay Kotak, co-head of Kotak811, and MN Srinivasu, co-founder of Bill Desk, at the Mumbai Tech Week on Sunday.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIIM LucknowIIML Executive…

India's banking regulator doesn't intend to impose drastic measures on the country's fintech sector, a senior official said, weeks after it stunned investors by abruptly suspending much of the operations of Paytm Payments Bank, founded by high-flying billionaire Vijay Shekhar Sharma.There are “no harsher measures coming on fintech,” P. Vasudevan, an executive director in charge of enforcement at the Reserve Bank of India, said on Friday. The central bank would be happy to see self-regulation for the sector, but expected…

The Reserve Bank of India has issued a list of frequently asked questions (FAQs) to allay customers' fears after it restricted operations of Paytm Payments Bank (PPBL) citing compliance issues.The regulator also extended the deadline for customers to make deposits and credit transactions in the bank till March 15. In a detailed document, the RBI elaborated on what this move means for customers using Paytm Payments Bank for receiving salaries, paying EMIs and more.Elevate Your Tech Prowess with High-Value Skill…

PB Fintech on Friday said that its wholly-owned subsidiary Policybazaar Insurance Brokers has been granted in-principle approval from the insurance regulator to upgrade its licence, allowing its entry into the reinsurance business.According to PB Fintech, the approval will allow Policybazaar “to deepen the insurance penetration in the country” and bring “more technology, process control and data analytics based innovation into reinsurance capacity”. Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

A young man holds a credit card and uses a laptop for online shopping.Diy13 | Istock | Getty ImagesAmericans shopping online after midnight often make riskier transactions and are more likely to default on their loans, according to Affirm Chief Financial Officer Michael Linford.The fintech firm uses the hour a consumer attempts a transaction as a key data point to help determine whether to approve loans, Linford told CNBC in a recent interview. Other factors include a user's repayment history with Affirm and transaction…

Dutch fintech Finom has raised €50mn, which the startup will use to boost its digital banking services. Founded in 2019, the Amsterdam-based business operates a pan-European neobank for SMEs and entrepreneurs. It integrates online banking, accounting, and financial management into a single platform. Kos Stiskin, co-founder at Finom, said the company was built to simplify banking for small businesses. “Finom was born as a cost-effective and user-friendly digital banking solution for…

Love might be blind, but it’s not fiscally irresponsible. At least not if a new dating app has its way. Just in time for Valentine’s Day, Score, a new app (and website) for the financially minded, hopes to attract people with “good to excellent” credit who know the importance of monitoring their finances. No one with a credit score of less than 675 is allowed to join. (A score of 850 is considered perfect, though very few people are near that level.)Score is the creation of Neon Money Club, a Black-owned fintech company…

Welcome to TechCrunch Fintech (formerly The Interchange)! We’re back after a brief hiatus, and I can tell you that judging by the volume of pitches I received last week, venture investing in the fintech space is definitely picking up. This week, we’re looking at Plaid’s latest step toward an IPO, one BNPL company’s financial results, and more. 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…

Could 2024 be the year for fintech IPOs? Quite possibly, according to F-Prime Capital’s State of Fintech 2024 report. F-Prime — a VC firm with over $4.5 billion in assets under management that tracks the performance of emerging, publicly traded and privately held financial technology companies — naturally remains bullish on the fintech space, noting that: “In aggregate, fintech companies have captured <10% of financial services revenue, yet many scaled private fintech companies are generating $1B+ revenue, still…

French accounting startup Pennylane has just become Europe’s latest unicorn after securing €40mn — its sixth major fundraise since the company was founded just three years ago.  “We weren’t even looking for fundraising, but we welcome any opportunity to grow even faster,” Pennylane’s CEO and co-founder, Arthur Waller, boldly stated. The fresh funds have doubled the company’s valuation to €1bn, making it the first French unicorn of 2024.  Pennylane — which has no relation to the famous Beatles…