September 5, 2024
The fintech IPO index lost 2.6% as profits rolled in. The “buy now, pay later” (BNPL) space arguably dominated headlines as the Consumer Financial Protection Bureau (CFPB) stepped in with new oversight of vendors. The CFPB intervenes As PYMNTS reported On Wednesday (May 22), the CFPB ruled that BNPL providers are credit card providers and
September 4, 2024
THE Reserve Bank of India has finalized the frame to recognize the OARs for the fintech sector following stakeholder comments on its draft standards of January 15. THE self-regulatory body (SRO) would be industry-led and would be responsible for establishing and enforcing regulatory standardspromote ethical conductensuring market integrityresolve disputes and promote transparency and accountability among
September 4, 2024
The Reserve Bank of India (RBI) has released a draft framework defining the general functions, governance norms and eligibility criteria for setting up a self-regulatory organisation (SRO) for fintech companies. Why is such a body necessary? Mint explain : What is the RBI concerned about? Fintechs play a vital role in the Indian financial system
September 4, 2024
With fintech sector As it gains momentum and scale, there is a need to review policies and regulatory guidelines to give fresh impetus to financial inclusion and penetration of financial products in the sector. bottom of the pyramidexperts said. The fintech space has revolutionized the country's financial sector. It has also contributed to formalizing the
September 4, 2024
Global fines for law violations reached a staggering $5.65 billion in the third quarter of 2023, according to a report published by Corlytics. This figure represents a significant increase from the $1.5 billion and $2.27 billion recorded in the first and second quarters, respectively. The majority of these fines, over 85%, were imposed by US
September 4, 2024
4 minutes reading time Last updated: May 31, 2024 | 12:51 AM IST The Reserve Bank of India (RBI) on Thursday released the final framework for recognition of self-regulatory organisations in the financial technology sector (SRO-FT), encouraging entities to have a representative membership from the fintech sector. An SRO-FT may consist of members from fintechs
September 4, 2024
There is also a growing perception within the fintech sector of regulatory barriers hindering the sector's growth. Some fintech companies have also come out in support by writing to the finance minister and the RBI governor after the central bank banned Paytm Payments Bank from accepting deposits. While the two self-regulatory organisations (SROs) - Digital
September 4, 2024
Singapore, 8 May 2024… The United Kingdom and Singapore held the 9th UK-Singapore Financial Dialogue in Singapore today. The two countries discussed opportunities for collaboration in priority areas such as sustainable finance, FinTech and innovation, and exchanged views on recent developments in non-bank financial intermediation (NBFI) and efforts to improve cross-border payments connectivity. Sustainable finance
September 4, 2024
Increased regulation in the Indian Fintech Sector This will significantly benefit the industry by keeping out bad actors and strengthening the competitive advantage of those who play by the rules, it said. Nigel Morrismanaging partner, QED Investors. In an exclusive interview to ET, he said that the recent crackdown by the Indian central bank on
September 4, 2024
A draft decree on a regulatory sandbox for fintech has been submitted to the government, which will provide a framework for fintech solutions including credit scoring, open application programming interface (API) and P2P lending. — Photo tapchitaichinh.vn HÀ NỘI — The State Bank of Vietnam has submitted to the government a draft decree on a
September 4, 2024
4 minutes reading time Last updated: July 17, 2024 | 11:20 p.m. IST The fintech industry, which has been caught between increased scrutiny from the Reserve Bank of India (RBI) and a harsh funding winter, is looking ahead to Budget 2025 with hope. The industry is looking for a favorable tax framework for startups, as
September 4, 2024
The Council of the European Union has adopted a new regulation that will make instant payments fully available in euros for consumers and businesses in all EU and EEA countries. The new regulation was introduced to improve the strategic autonomy of European economic and financial sectors, reducing what the EU calls "excessive reliance" on third-country
