India

What’s the first thing you do when planning a holiday? If you are one of the millions of users of a service like TripAdvisor, you probably check what other travelers have to say about a particular destination or a place to stay. One bad review and you may think twice before booking.

What if you could do the same for a company you were dealing with? How good is the company’s track record? How easy is it to get payments from the company?

The Digital Lenders Association of India (DLAI), a private association formed by leading Fintech companies in the online lending space such as KredX, Capital Float, Lendingkart, Finomena, Rubique, Zest Money, Indialends and Neogrowth, has released a report entitled Union Budget 2017: Impact of Digital Financial Services. The report, published in partnership with PwC, analyses the measures around digital payments, online lending and the reduction in taxes for MSMEs.

CoinTribe is the only lending platform which has back-tested its credit model with large banks and whose platform is being used by banks for credit risk assessment. Additionally, within a significantly short period of time, CoinTribe has been able to carve its unique identity with multiple first-of-its-kind innovations. It exercises a highly simplified process with comprehensive technological amalgamation.

​Innoviti Payment Solutions announced the roll out of their new Dealer Enrolment Mobile App for accelerating the pace of enrolment of SMEs on their smelending.com platform.

The Small and Medium Enterprise (SME) sector has been playing a key role in the emergence of India as one of the leading economies of the world. The sector is fomenting inclusive growth of our country by creating employment opportunities through industrialisation in the rural and semi-urban areas of the country.

*/ /*-->*/ Shri Kalraj Mishra, Hon’ble Minister of Micro, Small & Medium Enterprises today launched ASPIRE Fund, a Fund of Funds with a corpus of `60 crore, to be administered by Small Industries Development Bank of India.

External forces from demographic, social, economic and regulatory phenomena have contributed to one of biggest revolution in the banking world: the emergence of challenger banks. Digitally-focused challengers such as Atom, Fidor Bank, Mondo and Starling, have grown significantly in 2015 and 2016, fueled by changing customer expectations, the new Generation Z, the heavy smartphone use in accessing finance and emerging technologies.

While in Hong Kong, Monexo gave loans against rental income and salary loans, in India the startup’s product portfolio consists of personal loans, professional loans, and loans to SMEs.  SMEs would be forming a large base of customers given the government itself has estimated there’s a gap of $150 Bn loan requirement, says Mukesh Monexo co-founder.

Can Fintech deliver on the promise of a "digitalized" credit appraisal (promising virtually "instant loans") to the micro enterprise client (The Missing Middle) segment? Is the BIG DATA for this segment available in digital format?