Page 5 - Fintech

Why the Hong Kong-based $200 billion AMTD Digital stock is no GameStop

AMTD Digital Inc. has risen 14,000% since listing in New York, giving it a market value of more than $470 billion at one point this week

Fintech platform Robinhood fires 713 employees, CEO says 'it's on me'

Silicon Valley-based online trading app Robinhood has sacked 23% of its workforce, just three months after the fintech platform reduced its headcount by 9 per cent amid the global economic turmoil.

Future of fintechs is in lending-led players, not payments: Report

With the funding to fintechs seeing a sharp 30 per cent drop in the June quarter, valuation is expected to shift from payments to lending-led fintechs, according to a report

Mobility fintech firm Moove, Uber partner to provide financing to drivers

Moove provides vehicle financing to mobility entrepreneurs to help them buy brand new cars using a percentage of their weekly revenue

Policybazar says IT system of firm compromised; authorities informed

PB Fintech, the parent company of Policybazaar Insurance Brokers Private Ltd, on Sunday said that the IT system of the firm was hacked on July 19 and subsequent corrective action was taken. The company identified certain vulnerabilities on July 19 in a part of Policybazaar Insurance Brokers IT systems leading to illegal and unauthorized access to the network. "In this regard, Policybazaar has reached out to the appropriate authorities and is taking due recourse as per law. The identified vulnerabilities have been fixed and a thorough audit of the systems has been initiated," the insurance brokerage firm said in a regulatory filing. The matter is currently being reviewed by the information security team along with external advisors, it said. "While we are in the process of undertaking a detailed review, as on date, our review has found that no significant customer data was exposed. Policybazaar has always prioritized the security and integrity of its systems and is committed towards

BNPL credit facility used without caution can lead to a debt trap

Understand all the attendant costs of this facility; delayed repayment will hit your credit score

Don't exceed your licence brief: RBI governor Das tells fintech firms

The RBI's notification regarding PPIs had sent the entire fintech world, especially the buy now pay later (BNPL) industry, into a tizzy

Fintech giant Stripe lowers valuation by 28% amid economic meltdown

Leading fintech company Stripe has reportedly taken a huge 28 per cent valuation cut amid tough global macroeconomic conditions that have hit nearly all the sectors very hard as recession fears loom

Swedish fintech co Klarna raises $800 mn as valuation plunges 85% in a year

Klarna said its peers were down 80-90% from peak valuations and so its own decline since June 2021 was on par with them

Paytm's Apr-Jun loans disbursal jumps nine-fold to Rs 5,554 crore

The company had disbursed 14.33 lakh loans worth Rs 632 crore in the year-ago period

Start-up slowdown

Raising funds is becoming difficult

Fintech startup Finvu AA raises $2.5 million in seed funding for expansion

Finvu AA will use the fresh funds to expand the team in engineering, and business development and enhance its product offerings

BharatPe back on track after Ashneer controversy, records 112% growth

BharatPe said it also reached an all-time high of $18.5 billion in annualised total payment value (TPV) -- a growth of 50 per cent over the last quarter

The RBI is no fan of 'buy now, pay later' and it's wholly understandable

Last week, the Reserve Bank of India brought out its regulatory axe and hacked away at a popular path to small-ticket fintech loans

Digital push needs caution

The RBI should take note of some critical lacunae

RBI examining PPI credit, BNPL models; in talks with fintechs on concerns

The central bank is looking at a framework that can exist without hampering pace of innovation, even as it addresses consumer protection and cyber security concerns

TMSEp199: Economy's direction, hard times for fintechs, Airtel, Voda stocks

Where is the economy headed? Are tough times ahead for fintech companies? How does the near term look for Airtel, Voda Idea stocks? What is a black swan event? Find the answers here

With RBI acting tough, are fintech companies staring at tough times ahead?

Of late, the central bank has been coming down heavily on fintechs. So, what is the road ahead for fintech firms? Let us find out here

Will issue guidelines to make digital lending ecosystem safer: RBI Guv

Speaking on inflation, Guv Das said that had the monetary policy been tighter, the economic damage would have been enormous

Fintech startup HostBook raises $3 mn in series A funding led by Razorpay

Hostbooks intends to utilise the Series-A funding to further scale its operations and enhance its existing product suite