#fintech firms

[rwatimes]

Kraken co-CEO says tokenized equities won't 'open the floodgates' for institutions overnight

Sethi noted that most current demand is coming from fintech firms and users in emerging markets rather than large U.S. financial institutions.

➤ Kraken co-CEO Arjun Sethi believes tokenized equities are a natural evolution but will not see rapid adoption by major U.S. institutions due to entrenched collateral systems. ➤ Current demand for Kraken's xStocks product, which has settled $5 billion on-chain, primarily comes from fintech firms in emerging markets, not large U.S. financial institutions. ➤ Sethi anticipates a 5-10 year timeline for institutional adoption and highlighted Kraken's plans to expand into tokenized commodities and credit fund yields, alongside its IPO filing.

[shlipayadavblog]

IPO-bound Mobikwik posts first-ever profit in Dec 2021 quarter: Co-founder

IPO-bound fintech firm Mobikwik became profitable in the December 2021 quarter and expects to close the current financial year with almost two times growth in revenue, a top company official has said.

Mobikwik co-founder and Chief Operating Officer Upasana Taku told PTI that the company recorded profit of around Rs 7 crore in the third quarter of 2021-22, after losing money in the first and second quarters.

"In the last quarter, the company achieved profitability for the first time. We expect to be profitable in the fourth quarter as well. We expect our full financial year (FY) of 2022-23 to be profitable.

"This really validates our theory and the message that we have been giving that it is possible in the Indian fintech space to build a fast pace growth model while at the same time make money," Taku said.

Sharing details of the nine-month period ended December 31, 2021, Taku said the company has achieved revenue of around Rs 400 crore, which is 86 per cent growth on a year-on-year basis.

[shlipayadavblog]

BharatPe removes Ashneer Grover's profile from website

Fintech platform BharatPe on Thursday removed Ashneer Grover's profile and photo from its website after the company accused him, along with his wife Madhuri Jain, of allegedly engaged in extensive misappropriation of company funds and grossly abusing company money to fund their lavish lifestyles.

The About Us page on the website now carries the names of Shashvat Nakrani, Co-Founder, Suhail Sameer, Chief Executive Officer, Bhavik Koladiya, another Co-founder and Nishit Sharma, Chief Revenue Officer, along with other senior executives.

However, Grover's LinkedIn page still shows him as a co-founder and Managing Director of BharatPe.

Along with BharatPe, Unity Small Finance Bank, which is a joint venture between BharatPe and the Centrum Group, has also removed his profile from its portal.

Grover on Tuesday midnight quit BharatPe in a dramatic fashion, amid serious allegations of financial wrongdoings against him and his wife.

"As a result of his misdeeds, (Ashneer) Grover is no longer an employee, a founder, or a director of the company," the company said in a statement on Wednesday.

[cashvisionusa]

5 reasons financial institutions partner with fintech firms

Financial institutions and fintech partnerships opportunities are vital in the digital lending era as it helps generate revenue, attract new

[monicasharmalove]

Fintech committee recommends new legal framework for consumer protection

Current Affairs

A panel on issues related to financial technology (fintech), in its report submitted to Finance Minister Nirmala Sitharaman on Monday, has recommended a new legal framework for consumer protection.

The framework encompasses fintech and digital services, a National Digital Land Records Mission, a unified database (stacks) for small industries and the agriculture sector, removing discriminatory regulatory barriers in digital payments infrastructure, and allowing non-banking financial companies (NBFCs) into agriculture credit.

The Steering Committee on fintech-related issues has also suggested cash flow-based financing for micro, small and medium enterprises (MSMEs); using drones and remote sensing to assess risk in agriculture credit and insurance; increasing the use of artificial intelligence among state-owned banks; and regulatory and legislative changes to enable fixed deposits and other financial instruments to be issued in dematerialised form and allowing their frictionless use as collateral.

Several proposals in the report are in line with the government’s intention to create and maintain central databases for different sectors. A similar proposal was put up in the recently proposed national digital health blueprint, to create a HealthStack. The panel also recommends using blockchain, which was also one of the main suggestions of a committee on digital currency. The fintech panel was announced by former finance minister Arun Jaitley in his 2018-19 Budget.

Fintech committee recommends new legal framework for consumer protection

The panel is headed by the secretary to the Department of Economic Affairs and includes the secretary to the Ministry of Electronics and Information Technology...Read More

[boscalicious-blog]

Here is the reason why Fintech is spearheading UK’s Financial Sector

The UK fintech industry has been a forerunner of the financial services revolution and has become a hub for new firms looking to take a different approach to the age-old model operated by big banks and financial institutions. But why has UK fintech been successful and can it keep up the momentum? “You have to, to serve these markets, reimagine how money can be managed and moved because there’s going to be more change in the next five years in financial services than what has happened in the past 30,” said PayPal chief executive, Dan Schulman in a statement.

Read the full article @ http://www.boscalicious.co.uk/here-is-the-reason-why-fintech-is-spearheading-uks-financial-sector/

[mytechmag]

2019 FinTech Predictions | MyTechMag

2019 guarantees to be another exciting year for FinTech. It is expected to attract more deals, bring steady stream of checks from venture capitalists, and swirl IPO rumors this year.

FinTech is expected to attract more deals, bring a steady stream of checks from venture capitalists, and swirl IPO rumors this year. Know more about 2019 FInTech predictions in details!

[everusworld]

How to Choose the Best Blockchain Enterprises

The number of people that need investments in crypto currencies is increasing. This is due to their increasing value given the flexibility they offer the consumers and traders. The blockchain firms offer support for crypto currency transactions. However, it is important to ensure that you deal with the best firm. Use the following factors to make better choices. Stock The first thing to check before selecting a block chain firm is their stock. The stock determines the number of clients and transactions it can handle at a time. A firm with minimal stocks should be avoided by people that do more transactions. The blockchain companies stock can be used to measure their capabilities. Pick a firm with more stocks. Referrals There are many folks that are trading via the blockchain firms. Hence, use their experience when selecting the firms. You will never make a bad choice if you rely on referrals. Follow the advice of people that obtained the services of those companies. This is because they have tested the quality of their services. Opt for a highly referred firm in the market. Regulations Does the company follow the regulations set by the government? Most Fintech firms are making huge profits because they are not regulated. Regulations are supposed to help protect the interests of the investors. The Fintech firms that have partnered with banks follow the regulations. This places a demand on them to protect their clients’ investments. Your investments and transactions will be far much safer in regulated firms. Everus Technologies Sdn Bhd Level 23A, The Ascent Paradigm, No 1, Jalan SS7/26A, Kelana Jaya 47301 Petaling Jaya, Selangor D.E Website :- https://everus.org/ Facebook :- https://www.facebook.com/everusworld/