lending

Credit: CC0 Public Domain If you need a loan, you might try walking into a bank branch and meeting with a loan officer. But you might also try a peer-to-peer online lending platform such as Prosper.com or Kiva. These platforms publish your loan request and interested investors—individuals or companies—fund your loan. In contrast to a bank loan in which the money comes from the bank, the money in a peer-to-peer loan comes from…

Broking startups that disrupted the traditional world of stock trading and investments are looking to diversify their revenue base. Just like other fintechs expanding from their core business to complimentary opportunities, brokers are entering into lending and payments.Two major challenger brands in the broking ecosystem, Groww and Upstox, are doubling down on their credit business, according to people in the know. The ultimate idea is to retain the customers coming to the platform to invest.Mumbai-based Upstox is…

Kunal Shah's Cred is expanding its lending strategy as it looks to tap a wider user base beyond the top layer of customers and offer a wider use case for credit. In a major change to the company's lending strategy, Cred plans to tap into the large market of consumers who are new to credit, that is they have never taken any formal credit in the past, two sources in the know told ET. Also, Cred wants to go beyond pure play personal loans for its own users and tap into new opportunities around consumer durable loans or check…

Happy Monday! Capital markets regulator Securities and Exchange Board of India (Sebi) has sought suggestions from venture capital and private equity funds to potentially simplify regulations for the sector. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Top-level exits continue at Swiggy■ Accenture jumps on to the AI bandwagon■ AI4Bharat puts India on the map of cutting-edge AI innovationExclusive: Sebi may ease compliance for PE and VC funds Things may get easier for venture…

Troubles seem to be mounting for beleaguered ZestMoney as lenders pull back credit lines, a day after its founders left the company after a failed PhonePe acquisition. This and more in today’s ETtech Morning Dispatch.Also in the letter:■ Senior Flipkart exec Prakash Sikaria to start new venture within group■ Zomato launches own UPI offering, Flipkart to follow suit■ Swiggy’s valuation slashed by 34% to $7.1 billion Lending taps starting to dry up for crisis-hit ZestMoney Hi, this is Pratik Bhakta in Bengaluru. Today, we…

Cape Town, South Africa, May 15th, 2023, Chainwire NFTfi, a leading NFT lending platform, has launched the next phase of its loyalty program NFTfi Rewards. In Earn Season 1, users can get rewarded with exclusive reward points for borrower-friendly loans and responsible lending behavior. The NFT space is growing rapidly, and healthy credit markets are fundamental to its overall growth. NFTfi’s Earn Season 1 reward structure has been designed with this in mind, to incentivize responsible NFT lending and contribute…

Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry.The report on whitelisting framework for digital lending apps (DLAs) intends to support the industry, as it will add legitimacy to the practices and business operations of the DLAs, while simultaneously defining an appropriate regulatory approach in the sector.Chase India has prepared the whitelisting…

Amid the government crackdown on illegal loan apps, research firm Chase India in a report on Tuesday proposed setting up a self-regulatory organisation (SRO) for the digital lending industry. The report on whitelisting framework for digital lending apps (DLAs) intends to support the industry, as it will add legitimacy to the practices and business operations of the DLAs, while simultaneously defining an appropriate regulatory approach in the sector. Chase India has prepared the whitelisting framework with inputs from…

Consumers and businesses borrowed less as overall economic growth flattened in the weeks since two mid-March bank failures sparked financial turmoil, the Federal Reserve said in a report Wednesday. Banks in several parts of the country tightened lending standards and raised concerns about liquidity and uncertain expectations for future growth after Silicon Valley Bank and Signature Bank collapsed, some of the Fed’s 12 regional reserve banks reported. Consumers and businesses borrowed…

Fears about the health of banks are likely to feed into even tighter lending in coming months. The banks cut their lending to eurozone businesses by 3 billion euros in February, equivalent to $3.23 billion, while the increase in lending compared with a year earlier slowed to 4.9% from 5.3% in January, according to data released by the European Central Bank on Monday. There was also a slowdown in lending to households. The tightening came despite the fact that banks at the time were earning higher profits from…