Banking, Finance, Insurance – Page 2 – MediaCatalyst : News – Opinion

10 May

Federal Bank partners with Mashreq Bank to offer instant money transfers from UAE to India

MediaCatalystBanking, Finance, InsuranceFederal Bank, Mashreq Bank

Hyderabad: Federal Bank has entered into a strategic tie-up with Mashreq Bank one of the leading financial institutions in the UAE, to facilitate money transfers from the UAE to India. The partnership will support Mashreq’s faster payment product, QuickRemit, which was launched in 2017. Mashreq is one of the oldest banks in the UAE, and has a presence in twelve countries across Europe, US, Asia and Africa. It is also the only privately-owned bank in the UAE. Referring to this tie-up, Shalini Warrier, Executive Director, Federal Bank said, “We are excited about the partnership with Mashreqbank PSC, UAE, to provide a…

22 Mar

“Mooh Band Rakho” Campaign by HDFC Bank Conducts 1000 Workshops

MediaCatalystBanking, Finance, Insurance, NewsCyber Frauds, HDFC Bank, Mooh Band Rakho

Mumbai: HDFC Bank’s “Mooh Band Rakho” campaign about safe banking practices successfully conducted its 1,000th workshop this March. The bank had launched a 360-degree campaign in November 2020 to educate people about Cyber Frauds and Secure Banking ways to counter online fraud. The bank leveraged print and digital medium to reach over 7 crore individuals. General public appreciated the online leg of the campaign which allowed them to evangelize the message with artificial reality filters launched by the bank. The workshops were conducted for a host of audiences ranging from Law Enforcement Agencies, Senior Citizens, Channel Partners, Housing Societies and Educational Institutes. The…

16 Mar

Eduvanz Launches Digital Lending for Parents to Pay K-12 School Fees

MediaCatalystBanking, Finance, Insurance, NewsDigital Lending for Parents, Eduvanz

Eduvanz, a fintech Non-banking Finance Company (NBFC) that enables students to Study Now, Pay Later at 0% interest rates has launched Digital Lending for parents at Zero Cost to pay their ward's school fees. Eduvanz helps parents to convert school fees into easy and simple subscription-based Zero Cost EMIs with the benefit of repayment in 3 months to 9 months without any processing fee. An amount of Rs 300 crore will be disbursed during the next 3 years. The K-12 edtech market in India is projected to be worth $1.7 billion by 2022, up more than six-fold from $265 million in 2019. Varun Chopra,…

15 Mar

Mswipe Launches Micro ATM Service for SMEs

MediaCatalystBanking, Finance, Insurance, NewsMicro ATM Service, Mswipe

Mswipe, a financial services platform for SMEs, today launched ATM Express, a micro ATM which allows merchants to offer their point-of-sale (POS) terminals to customers for cash withdrawal, check bank balance among other features. The ATM Express will help merchants bring additional footfalls and add revenue stream through commission. Mswipe will utilise ATM Express to increase access to banking facilities through its SME network, especially in Tier 2, 3 and 4 cities with limited ATM facilities and bank branches. According to RBI, till June 2020, there were an estimated 84 crore debit card holders and about 2.10 lakh onsite and…

04 Feb

TRUSTMF Banking & PSU Debt Fund NFO Raises Rs. 582.68 Crore

MediaCatalyst0 CommentsBanking, Finance, Insurance, NewsTRUST Mutual Fund, TRUSTMF Banking & PSU Debt Fund

TRUST Mutual Fund’s maiden new fund offer (NFO) - TRUSTMF Banking & PSU Debt Fund has successfully raised Rs. 582.68 Crore. This is one of the recent NFOs with an extremely positive response. The first day AUM after the closure of NFO is Rs. 580.24 Crore. The NFO proceeds have been garnered from over 500 investors spread across 44 locations# through both digital & offline modes. The NFO has seen wide participation from both Institutional, Corporate, Family Offices, HNI, and Retail Investors, which is an indication of the faith posed by them in a well- structured & transparent investment process…

11 Jan

Managing Unplanned Expenses with an Instant Loan App

MediaCatalyst0 CommentsBanking, Finance, Insurance, ColumnInstant 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…

18 Dec

Razorpay Announces Plans to Achieve $50 Billion TPV by 2021

MediaCatalyst0 CommentsBanking, Finance, Insurance, NewsRazorpay

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…

19 Nov

Access to Formal Credit Still Not Available to Students in India: CEO, mPokket

MediaCatalyst0 CommentsBanking, Finance, Insurance, InterviewGaurav Jalan, mPokket

As a student or young professional, almost everyone has sought peer-to-peer financial help, particularly in India wherein formal credit to students does not exist till date. Mr. Gaurav Jalan saw this as an opportunity with great growth potential and went ahead to establish mPokket to address this credit gap for students and working professionals. Mr. Jalan talks to MediaCatalyst about mPokket's journey and business model. Here are the excerpts from the interaction with Mr. Jalan, CEO and founder, mPokket. What's the inspiration behind mPokket? Tell us a bit about mPokket's journey. mPokket was created to help those excluded from the…

21 Aug

Leveraging Technology to Become Agile in the Face of FDIC 370 Mandate

MediaCatalystBanking, Finance, Insurance, ColumnBirlasoft, FDIC 370 Mandate, Federal Deposit Insurance Corporation, Sanjay Bajaj

Author: Sanjay Bajaj, Senior Vice President, BFSI, Birlasoft The FDIC 370 mandate calls for massive transformation in banks' governance and data collation capabilities. With a stringent deadline in place, digital intervention is essential to help banks meet compliance standards. At Birlasoft, we believe that a flexible reporting solution holds the key. The recent spate of regulatory changes announced by the Federal Deposit Insurance Corporation (FDIC) calls for a large-scale transformation in banking processes. Last year, the FDIC introduced Part 370 of its rules and regulations for "Recordkeeping for Timely Deposit Insurance Determination." Specifically, it brings large banks under the ambit…