M2P Fintech’s Post

Bank 🏦 for Tech-savvy generations & Gen-Z: "Neobank" is frequently used in today’s financial world🌏. The primary function of a new bank is to offer customers tech-led banking services. A Neobank offers all traditional bank services via a digital setup or mobile apps without having any physical branches, which means that neo-banking is entirely ONLINE. Fi Money, RazorpayX, Jupiter, Niyo, Open, etc are examples of top Neobanks of India. Since Neobank is a 100% digital bank, it has to be Regulated through regulations of third-party providers. In India RBI does not allow 100% digital banking operations, so they cannot apply for a banking license. ✔️Pros: User-friendly, Low Fees, Convenient, Faster Transaction, offers a complex number of services, including personal vaults, multiple-currency IBANs, shares, commodities, and even cryptocurrency trading. ❌Cons: Limited Services, Security Concerns, Lack of physical branches & apps can be complicated for non-tech-savvy people According to a Statista report, the transaction value across neobanks in India is projected to exceed $155.50 Bn by 2027, growing at a remarkable CAGR (Compound annual growth rate) of 19.21 percent. Neobanks are reshaping the global banking landscape by emphasizing online accessibility, user-centric design, technological innovation, and personalized solutions. By assisting customers adapt to digital and self-service modes, neobanks further expand to a broader audience. Reference: https://lnkd.in/gAB_kQ6d #LinkedIn #Neobanks #DigitalBanking #Fintech #Financial #BankingRevolution #FiMoney #JupiterBank #BFS #RazorpayX #BankingEvolution #DigitalPayments #Banking #Growth #CXO

Definitely a fascinating subject to talk about in the modern business world when being cyber resilient is essential to success. #cyberrisk #riskmanagement #ciso #security #discussion

Within a split second of your payment journey we do a lot to ensure your payment is safe and secure. Explore our #Wibmo Protect platform features on how we secure your online transactions.

#FinTechTicker Last week's Global FinTech Fest 2024 was abuzz with exciting product launches and underscored key policy priorities of the governemnt/RBI. Here's a recap: **Policy Priorities in the FinTech Sector** ➡ PM Narendra Modi lauded India's FinTech revolution for democratizing financial services, emphasizing the need for enhanced digital literacy to combat cyber threats. ➡ Governor Shaktikanta Das outlined strategic priorities, including financial inclusion, strengthening cybersecurity, developing financial infrastructure, and globalizing UPI and RuPay. ➡ Deputy Governor T Rabi Shankar highlighted the importance of building trust in FinTechs and the role of self-regulatory organizations (SROs) to foster this trust and work with the regulator for the sector's growth. ➡ Executive Director P Vasudevan emphasized compliance by FinTechs to ensure a level playing field with traditional lenders. **Prominent Product Launches** 👇 Consumer-side ▶ UPI Interoperable Cash Deposit at ATMs ▶ NCMC-enabled Smartwatch by Airtel Payments Bank ▶ BharatPe UPI App for consumer payments ▶ Co-branded Credit Card by Flipkart super.money ▶ Biometric authentication for online commerce by Mastercard 👇 Business-side ▶ Enhanced Card Tokenisation by Razorpay and PayU ▶ Soundbox enabled PoS Device by Pine Labs and Visa ▶ Payment Gateway Launched by Zoho for B2B transactions ▶ Short-term credit for MSMEs introduced by CredAble ➡ Expansion of Bharat Bill Payment System (BBPS) services to cater to business enablement platforms, streamlining B2B payments and collections Exciting developments shaping the future of FinTech! 🚀 #GlobalFinTechFest #FinancialInclusion #Cybersecurity #Innovation #NPCI #RBI

Hold Your Scroll! You need to read this. Take a moment to catch up on the latest in the fintech universe! Trust us, we wouldn't want you to feel left out of the conversation when the talk turns to #fintech around you. 1️⃣ Reserve Bank of India (RBI)'s CBDC Push: In a landmark gathering, RBI and fintech leaders convened to discuss CBDC adoption. With luminaries like Rahul Chari from PhonePe and Kunal Shah from CRED in attendance, the future of digital currency in India looks promising. https://lnkd.in/dMHEg2cg 2️⃣ BharatPe Unveils 'All-In-One' Payment Device: Meet 'BharatPe One' - the ultimate solution integrating PoS, QR code scanner, and speaker. Launching in over 100 cities initially, BharatPe plans rapid expansion to 450 cities, reshaping payment convenience across India. https://lnkd.in/gERF9MiF 3️⃣ Economic Insights: Despite global challenges, India's economy remains resilient with #RobustDomesticDemand, #LowInflation, and #SoaringForeignExchangeReserves, painting a positive outlook. https://lnkd.in/dDUKX-e3 4️⃣ Razorpay, Airtel Payments Bank Introduce 'UPI Switch': Enabling a groundbreaking 10,000 transactions per second (TPS), Razorpay's 'UPI Switch' revolutionizes transaction processing. With dispute resolution 7X faster and instant refunds, it's setting new standards in fintech efficiency. https://lnkd.in/d2cwrWK4 Stay glued to the Flashback Fintech series for more exhilarating updates, till then #HappyWeekend! ✨ #FintechFriday #RecentUpdates #FinTech #FinTechUpdates #LatestNews #FinTechNews

🔒 Trust in Unicaps: The Indian Payment Gateway You Can Rely On! 🇮🇳 We prioritize secure and seamless digital payments, ensuring your transactions are always safe. Experience reliability and efficiency with Unicaps. 📲 Simplifying payments for businesses and consumers across India. #Unicaps #DigitalPayments #SecureTransactions #IndianGateway #Trustworthy #Fintech

From neobanks to neo-MVNOs #Neobanks — a new breed of financial institution that serve as digital-native challengers to established banking incumbents — follow in the footsteps of traditional banks by offering ancillary services to target new customers, such as budgeting tools, data and spending insights, and easy access to the stock market. While neobanks have surged in popularity, so has the #MVNO (mobile virtual network operator) market, driven by the rise of #eSIM, the cloud, and the proliferation of third-party software that makes all-digital distribution strategies a cinch. Nubank is taking its first tentative steps into the mobile network realm, as the NYSE-traded Brazilian neobank rolls out an eSIM service for travelers. The service will give customers access to 10GB of free roaming internet in more than 40 countries without having to switch out their own existing physical SIM card or eSIM. The launch comes shortly after news first emerged that Brazil’s National Telecommunications Agency (ANATEL) had quietly greenlit plans for Nubank to become a mobile virtual network operator (MVNO) in partnership with the network operator Claro. While that plan remains in the early stages and Nubank hasn’t confirmed any of the launch details (the company also declined to comment for Techcrunch's article), it’s at least tiptoeing into the mobile network sphere — a growing trend within the fintech fraternity. Mobile operators are moving in on the banking business, trying to become banks themselves, and traditional banks and fintechs are doing the same by becoming MVNOs. #MVNA #MVNE #fintech #Banking https://lnkd.in/g_ceC_3t

The payments space in india is constantly evolving with new innovations around secured transactions and enhanced user experience. In line with these developments, The Reserve Bank of India (RBI) has recently issued a circular to enable Card-on-File Tokenisation (CoFT) through card issuing banks. PhiCommerce brings to you an explainer to understand this significant step towards making digital payments more secure and convenient for users. Swipe through to know more.. #reservebankofindia #rbi #tokenisation #cardonfile #payments #cardpayments #paytech #securetransactions #financialsecurity #cardtokenization #onlinesecurity #paymentsecurity #digitalindia #omnichannelpayments #thinkpaymentsthinkphicommerce

𝐈𝐧𝐝𝐢𝐚𝐧 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐏𝐚𝐲𝐦𝐞𝐧𝐭𝐬 𝐄𝐜𝐨𝐬𝐲𝐬𝐭𝐞𝐦 -𝐉𝐮𝐧𝐞 2024 𝐛𝐲 𝐓𝐡𝐞 𝐃𝐢𝐠𝐢𝐭𝐚𝐥 𝐅𝐢𝐟𝐭𝐡. Digital payments have experienced a substantial increase, exhibiting remarkable growth in volume and value over time. The pandemic played a pivotal role in capturing a significant market segment and cultivating a preference for convenient payment methods, ultimately shining a spotlight on the fintech industry. In this dynamic ecosystem, the Indian Government emerged as the key driving force, working tirelessly to enhance customer experience through robust regulations that prioritize data security and streamline processes among financial institutions. As customer trust in digital payments deepened, it became a lucrative spot for investors, leading to heavy funding in this segment over the past couple of years. Considering the significant level of activity witnessed in this sector, The Digital Fifth unveils its comprehensive representation of The Digital Payment Ecosystem of India. Sameer Singh Jaini | Shashank Shekhar | Sreekant Rudrabhatla | Vikrant Kulkarni | Deepak Sai | The Digital Fifth #ecosystem #landscape #payments #digital #kyc #aadhar #government #rbi #aml #banks #fintech #players #gateway #aggregator #wallets #npci #pos #network #riskmanagement #commercialcard #rewards #cbdc #paymentplatform #smallfinancebanks #paymentsbank #retailcard #reconciliation

2024 is set to witness groundbreaking shifts. Fintech super apps are poised to diversify into consumer services, reshaping the landscape with their comprehensive offerings. Meanwhile, Jio Financial Services emerges as a formidable contender, challenging established giants and vying for a significant market share. Additionally, regulatory scrutiny intensifies, particularly on payment gateways and API banking, signaling a transformative year ahead for the fintech industry. #finance #market #stockmarket #2024 #prediction #financenews #finance #trends #payments #paymentinfrastructure