India’s IDBI Bank names Nehal Shah as new deputy chief technology officer
Shah will be responsible for the bank’s IT security and digital channels across various functions.
India
Spice Money taps NSDL Payments Bank to offer zero balance accounts to rural India
Through this partnership, Spice Money aims to broaden financial inclusion across India.
Fintech unicorn Slice to merge with India’s North East Small Finance Bank
Its merger with NESFB will see Slice transition into a small finance bank.
AlphaSense lands $150m Series E funding at $2.5bn valuation
The latest fundraise comes months after AlphaSense secured $100m in Series D funding led by Alphabet’s CapitalG.
DigitalAPICraft signs as Google Cloud vendor and appoints Marco Tedone as CTO
Marco Tedone, the firm’s new CTO, spent almost 12 years leading API strategy for HSBC.
Yes Bank appoints Pankaj Sharma as chief strategy and transformation officer
Prashant Kumar, managing director and CEO of Yes Bank, says Sharma’s appointment comes “at an important juncture”.
Bright Money lands $62m debt and equity funding
The round consists of $50 million in debt funding and $12 million in equity.
Indian fintech Perfios secures $229m in Series D funding round
The funding came from Kedaara Capital, and existing backers Warburg Pincus and Bessemer Venture Partners.
India’s Samunnati signs for Finbots.AI’s CreditX AI credit modelling solution
The deal marks another step in Finbots.AI’s push to scale across APAC.
ICYMI fintech funding round-up: CredRight, MFast, Maly and OneID
A handy round-up of the recent funding endeavours of fintech companies across the globe.
India’s Yes Bank draws on Zaggle to launch credit cards with spend management capabilities
The Yes Bank Zaggle corporate credit card seeks to enable businesses to tap operation efficiencies.
FSS launches new payments technology platform for banks
The Blaze platform aims to ensure high durability during peak workloads and improve fraud prevention.
India’s PhonePe taps Cloudera to streamline data management
PhonePe says the collaboration marks a “significant milestone” in its data journey.
Standard Chartered global head leaves to found fintech start-up
Manohar Chadalavada is leaving the bank to be the co-founder of a fintech start-up currently in stealth.
AI-powered conversational payments to launch on India’s UPI
The tech will enable users to converse with an AI system to initiate and complete transactions.
Indian neobank Zolve expands into expat-friendly mobile services with telecom-as-a-service platform Gigs
Zolve’s telecom-financial offering is tailored for expats pursuing educational or professional opportunities in the US.
Mastercard Strive India launches to help small businesses go digital
Strive India will focus on micro-enterprises, women-led businesses and agri-entrepreneurs in the country.
Indian fintech start-up Credgenics secures $50m Series B funding
The round was led by Westbridge Capital, Accel, Tanglin Ventures, Beams Fintech Fund and other strategic investors.
Svatantra to acquire Navi Group’s microfinance subsidiary for $178.6m
On completion of the deal, Svatantra says it will become the second largest microfinance entity in India.
Vijay Shekhar Sharma buys 10% stake in Paytm worth $628m from Antfin
Sharma’s shareholdings in Paytm will increase to 19.42%, while Antfin’s shareholdings are reduced to 13.5%.
UK fintech Rapyd snaps up PayU GPO in $610m deal to boost global expansion
PayU says the sale will allow it to focus on “the huge fintech opportunity” in India.
BlackRock and Jio Financial Services to launch joint asset management venture in India
The announcement follows JFS’s recent demerger from Reliance Industries.
Bain Capital buys majority stake in India’s Adani Capital, invests $120m to boost growth
Bain Capital will pick up a 90% stake, with current CEO Gaurav Gupta retaining the other 10%.
Banque Saudi Fransi completes payment processing upgrades with TCS
The Saudi bank selected TCS BaNCS to digitise its IT landscape across deposits, lending and payments.
Spend management platform EnKash launches Olympus solution for businesses
The solution targets MMEs that lack experience and accessibility of financial and non-financial products.
Apple eyes credit card launch in India as partnership with Goldman may be nearing its end
Apple is reportedly exploring a partnership with HDFC Bank in India to roll out a credit card offering.
Danske Bank taps Infosys for digital transformation
As part of the partnership, Infosys will also acquire Danske Bank’s India IT hub, employing over 1400 people.
Philippines signs MoU with India to strengthen fintech cooperation
The MoU will help establish a joint working group on fintech between the two countries.
ICYMI fintech funding round-up: Kanastra, Majority & Cloudbankin
Our weekly fintech round-up for you to get the latest funding news from around the world.
Keytrade Bank in core banking tech overhaul with Infosys Finacle
Keytrade Bank chose Infosys Finacle due to its “worldwide expertise, implementation plan and price offering”.
India’s Fino Bank taps Hubble to launch spending account
The spending account will be integrated with Fino Bank’s digital savings app, accessible on its mobile app FinoPay.
Singapore’s Pepper Group eyes India launch with $150m investment
Pepper Money India will offer personal finance products to consumers and aims to launch second half of 2023.
Indian lendtech firm Lentra secures $27m in Series B extension
Lentra plans to use the new funds to fuel its international expansion and product development.
India’s PhonePe secures another $100m from General Atlantic
With the latest funding, PhonePe has raised a total of $850 million in the current round.
North East Small Finance Bank migrates to new core, Turing CBS from M2P
Turing CBS is understood to have replaced FIS’ Profile core banking system at NESFB.
ZestMoney founders step down following failed acquisition by PhonePe
Lizzie Chapman, Ashish Anantharaman, and Priya Sharma are all set to leave the company.
UK regtech Facctum appoints two senior executives
Onkar Inamdar joins as head of engineering and Syam Chintapenta as chief development officer.
Indian fintech unicorn Open lays off 47 employees
Open says the cuts were based on employee performance.
IFGS 2023: Collaboration key for Singapore’s burgeoning fintech sector
Sopnendu Mohanty, chief fintech officer at MAS, discussed the country’s strategies and successes at IFGS 2023.
PhonePe’s funding spree continues as it raises another $100m
PhonePe has received the new funding from returning investor General Atlantic.
