In response to the rising global threat of cybercrime, Mastercard has announced a bold initiative to revolutionize digital payment security. The company’s strategy focuses on eliminating physical card numbers and passwords by 2030, relying on cutting-edge technologies like artificial intelligence (AI), biometric authentication, and tokenisation. This vision aims to provide safer, faster, and more inclusive financial services for both consumers and businesses worldwide. The Growing...

India’s banking landscape is experiencing a dramatic transformation with the rise of neobanks—digital-first financial institutions offering streamlined and personalized services. Unlike traditional banks, neobanks operate exclusively online, eliminating the need for physical branches while focusing on user-centric, technology-driven banking solutions. Platforms like Kotak’s 811, Digibank by DBS, Niyo, Open, and RazorPayX are leading the shift of neobanking in India, redefining how Indians interact with...

The Reserve Bank of India (RBI) has transferred 100 metric tonnes of its gold reserves from the United Kingdom to domestic vaults. This significant move, one of the largest since 1991, comes as the country has ample storage capacity at home, according to RBI Governor Shaktikanta Das. A Major Transfer of Gold Reserves The RBI's decision to relocate 100 metric tonnes of gold stored in the...

Zomato, one of India's leading food delivery platforms, is looking to revive its merchant lending services after a brief pause. Engaging with multiple non-banking financial companies (NBFCs), Zomato aims to offer working capital loans to its partner restaurants. According to a report by Moneycontrol, this move signifies Zomato's commitment to supporting its partners in the highly competitive food delivery market. Zomato's Role as a Loan...

Fintech platform Upstox has announced its entry into the insurance distribution sector. This move marks a significant expansion of Upstox's services. By entering the insurance market, Upstox aims to provide a more comprehensive range of financial solutions to its users. HDFC Life is the first insurer to partner with Upstox. This partnership brings term insurance plans to the Upstox platform. Users can now explore and...

Bengaluru-based fintech startup CRED has taken a significant step forward in the digital payments arena by securing in-principle approval from the Reserve Bank of India (RBI) to operate as a payment aggregator (PA). This approval marks a pivotal moment for CRED, enabling it to expand its operations into the merchant payments domain and positioning it alongside established players like Razorpay and Cashfree. The Path to...

In a significant development, Yenmo secures $500,000 in funding led by Y Combinator, marking a milestone in their mission to democratize financial services. Founded by Aryan Agarwal and Ashutosh Purohit, Yenmo empowers Indian investors to borrow against investments like mutual funds and stocks at a flat 10.5% interest rate. This approach allows immediate financial needs without compromising long-term growth potential. Innovative Solutions for Investors Yenmo's user-friendly platform...

In today's rapidly evolving financial landscape, digital banking has emerged as a transformative force, reshaping the way consumers manage their finances. With the rise of smartphones, mobile apps, and online banking platforms, consumers are increasingly turning to digital channels for their banking needs. In this blog, we will explore how digital banking is adapting to changing consumer preferences and behaviors, along with the latest...

In today's rapidly evolving business landscape, the role of Chief Executive Officers has become increasingly complex. These top-level executives are tasked with making critical strategic decisions that can have far-reaching consequences for their organizations. To navigate this complexity, CXOs are turning to two powerful tools: Big Data and Artificial Intelligence (AI).  The Convergence of Big Data and AI  Before delving into how Big Data and AI are...

The ever-evolving market demands continuous adaptation and creative problem-solving. To meet these challenges head-on, organizations must cultivate a culture of innovation. However, building such a culture doesn't happen by accident. It requires a concerted effort from all levels of an organization, with an essential role played by the C-level executives, commonly referred to as Chief Experience Officers (CXOs).  Over 87% of global executives believe that...