Banking, Finance, Insurance

Managing Unplanned Expenses with an Instant Loan App
Banking, Finance, Insurance, Column

Managing Unplanned Expenses with an Instant Loan App

In a rapidly evolving economy, expenditure patterns also evolve rapidly. Especially in today’s age, one that is increasingly dominated by millennial professionals. With the tremendous rise in the corporate culture (and rising costs of living) in all the metropolitans, unplanned and contingent expenses are off the roof. More than any time before, people want that dream vacation or the dream car or that spontaneous shopping plan or road trip. Millennials have been characteristized with that go-getter attitude - they need it all, sometimes without even having the saved up money for it.  The need for money for unplanned expenses saw a further surge during the COVID-19 pandemic, where people suddenly saw unexpected medical expenses or even day-to-day expenses mounting up while the entire ec...
SunTec Names Top Trends for Banking and Financial Sector in 2021
Banking, Finance, Insurance, News

SunTec Names Top Trends for Banking and Financial Sector in 2021

Thiruvananthapuram, Dec. 29, 2021: SunTec, the relationship-based pricing and billing company, today announced six key trends for the global banking and financial sector in 2021. The trends are distilled from SunTec’s conversations with its banking and financial services customers located around the world. SunTec has over 100 banking and financial services clients in more than 45 countries. The company’s clients include seven of the top 25 banks in the world by assets. Nanda Kumar, Founder and CEO of SunTec Business Solutions said, “2021 is going to be a very busy and transformative year for the banking and financial services industry around the world. Banks will have to reinvent their business and revenue models on account of the recent disruption caused by the pandemic. A fallout ...
Reliance General Insurance Empowers Customers with Rapid Vehicle Claims Solution
Banking, Finance, Insurance, News

Reliance General Insurance Empowers Customers with Rapid Vehicle Claims Solution

Mumbai, Dec. 21, 2020: Reliance General Insurance (RGI) has brought in speed and acceleration to its vehicle claim process by introducing ‘RAPID’ equipped with image analytics powered by Microsoft Azure Cognitive Services and Azure Machine Learning capabilities.  This end-to-end solution has helped RGI provide a much faster and seamless customer experience while making vehicle claims.  India, which is one of the world’s largest and fastest-growing auto insurance markets, relies largely on traditional ways to renew policies and process repair claims, which usually required inspectors to physically look over vehicles and assess damages. This leads to a delay in the process of inspection, resulting in keeping the cars and policy holders off the road for longer. To mitigate this challenge,...
Razorpay Announces Plans to Achieve $50 Billion TPV by 2021
Banking, Finance, Insurance, News

Razorpay Announces Plans to Achieve $50 Billion TPV by 2021

New Delhi, Dec. 18, 2020: Razorpay today announced its plans to achieve $50 Billion TPV (Total Payment Volume) by the end of 2021 and further solidify its position as one of the largest full-stack fintech company in the country. The company launched a string of products, aimed at empowering the next phase of digital growth for Small Businesses in India. These products were launched today at the Third edition of FTX, its flagship fintech conference that brought together 50+ thought-provoking speakers and was virtually attended by 10,000+ fintech enthusiasts from across the globe.  With most of the country slowly reeling back to normalcy, it's encouraging to see 75% SMBs recognising the importance of going digital to revive their businesses. Even the freelancer economy is flouri...
Paytm Money to Host Retail Investor Focused ETF MasterClass
Banking, Finance, Insurance, News

Paytm Money to Host Retail Investor Focused ETF MasterClass

Mumbai, Dec. 17 2020: Paytm today announced that its wholly-owned subsidiary Paytm Money will host the country's first-ever ETF education conclave “ETF MasterClass - Rise with India” with ICICI Prudential ETF as the knowledge partner. The two-day event will see a series of acclaimed industry experts talking about ETFs as an important product for wealth creation and how one can build portfolios with ETF. The speakers include domestic and international ETF Masters such as Ashishkumar Chauhan- MD & CEO, BSE, Sankaran Naren - ED & CIO, ICICI Prudential AMC, Deborah A Fuhr - MD, ETFGI,  Mukesh Agarwal- CEO, NSE Indices, Vishal Jain Head - ETF, Nippon India AMC Sameer Desai -National Lead - ETF, Nippon India AMC, Chintan Haria -Head: Product development & Strategy, ...
TRUST Group announces Launch of TRUST Mutual Fund
Banking, Finance, Insurance

TRUST Group announces Launch of TRUST Mutual Fund

Mumbai, Dec. 10, 2020: TRUST Group, a full-service financial houses, today announced its foray into the mutual funds segment with the launch of TRUST Mutual Fund. The AMC has appointed Sandeep Bagla as its Chief Executive Officer (CEO). The Group announced that the TRUST AMC will follow a structured investment approach along with a unique “LimitedActiv’’ methodology, with the goal of providing investors consistent risk adjusted returns with low volatility. The robust methodology has been developed in collaboration with CRISIL for the initial fixed income schemes which will assist the fund management team in: Defining a high-quality investible universe of IssuersCreation of a Model Portfolio, with broad-based weights on Outstanding amountsPortfolio Construction us...
Muthoot Finance to Raise Rs. 1,000 Cr. through Public Issue of Secured Redeemable Non-Convertible Debentures
Banking, Finance, Insurance, News

Muthoot Finance to Raise Rs. 1,000 Cr. through Public Issue of Secured Redeemable Non-Convertible Debentures

Kochi, Dec. 10, 2020: Muthoot Finance Ltd has announced its 24th series of Public Issue of Secured Redeemable Non-Convertible Debentures of face value of Rs. 1,000 each (“Secured NCDs”). The Issue is with a base issue size of ₹ 100 crores with an option to retain oversubscription upto ₹ 900 crores aggregating upto tranche limit of  ₹ 1000 crores (“Issue”). The Issue opens on 11th December, 2020 and closes on 5th January, 2021 with an option to close on such earlier date or extended date as may be decided by the Board of Directors or NCD committee. The Secured NCDs proposed to be issued under this Issue have been rated CRISIL AA/Positive by CRISIL and [ICRA] AA (Stable) by ICRA. The rating of the Secured NCDs by CRISIL and ICRA indicates “high degree of safety regarding timely servicing...
SBI General Insurance Announces Strategic Partnership with Mahindra Insurance Brokers
Banking, Finance, Insurance, News

SBI General Insurance Announces Strategic Partnership with Mahindra Insurance Brokers

Mumbai, Dec. 09, 2020: SBI General Insurance today announced a strategic partnership with Mahindra Insurance Brokers Ltd. (MIBL) through its Sajhedaari programme, to increase insurance penetration in tier 2 & 3 cities. This association marks a significant milestone for SBI General in realising its vision of becoming the most trusted general insurer for a transforming India. SBI General is also associated with MIBL for the new car, commercial vehicle, tractors and used cars and provide vehicle Insurance with several add-ons the customers.  In the digital space also SBI General has partnered with PAYBIMA, a digital platform by Mahindra Insurance Brokers for providing affordable insurance solutions. PC Kandpal, MD & CEO, SBI General Insurance said, “The pand...
BharatPe Replaces Google Pay to Become No. 3 in UPI P2M
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BharatPe Replaces Google Pay to Become No. 3 in UPI P2M

Mumbai, 08 December 2020: BharatPe, a merchant payments company, today announced that it has become the 3rd largest player in the Merchant UPI payment acceptance space. The company has recorded INR 3,334 crores (US$ 479 million) in transaction value for the month of November, displacing Google Pay from the No. 3 position. The company shared that it processed 6.15 crores transactions in November 2020. BharatPe has been outgrowing the market and has doubled its market share in the UPI P2M merchant payment acceptance category since April 2020. In November 2020, BharatPe has reached all-time high 5% market share by transaction value and 7% market share by transaction volume. The volume of transactions processed by BharatPe standalone last month is greater than...
Finin and SBM Bank Launch Hyper-personalized Neobanking Platform
Banking, Finance, Insurance, News

Finin and SBM Bank Launch Hyper-personalized Neobanking Platform

Mumbai, Dec. 02, 2020: Bringing a new approach to the banking experience, Finin has announced its launch in the country. It has partnered with SBM India as their banking partner to issue a savings account that can be opened in under 2 minutes and a VISA powered debit card equipped with smart card management features. The banking landscape lacks hyper-personalisation and underutilises customer data. The idea of savings and investment is a hard-to-understand concept for most banking users. Finin solves this issue using AI and nudges theorem to enable a user to understand their save-spend cycles much better and empower them to make informed decisions every day.  The app comes with budgeting and goal management features that assists each and every user to develop financial discipli...