Latest news with #BaaS
Associated Press
6 days ago
- Business
- Associated Press
Audax CEO Kelvin Tan & Digijanus Founder Laksh Gangwani discuss Playbook for Scaling BaaS & Reinventing Digital Banking in Digijanus' In-The-Grill
Kelvin Tan, CEO of audax, sits down with Laksh Gangwani, Founder of Digjanus, to dissect the evolution of Banking-as-a-Service (BaaS)—from a five-slide pitch inside Standard Chartered to leading a high-growth B2B fintech that's rewriting banking infrastructure across Asia. Singapore, August 6, 2025 -- In an electrifying series of episodes of In-The-Grill, Kelvin Tan, CEO of Audax, sat down with Laksh Gangwani, Founder of Digjanus, to dissect the evolution of Banking-as-a-Service (BaaS)—from a five-slide pitch inside Standard Chartered to leading a high-growth B2B fintech that's rewriting banking infrastructure across Asia. The Birth of BaaS: 5 Slides That Changed Standard Chartered In 2017, before 'BaaS' became a buzzword, Kelvin posed a simple but powerful question to Standard Chartered's CEO, Bill Winters: How can a global bank scale without building 10,000 branches? Armed with just five black-and-white slides, Kelvin laid out the entire vision—scaling ROE without CapEx-heavy models, embedding banking into lifestyle platforms, and turning SC into the world's largest hidden retail bank. That conversation marked the Day 1 of Standard Chartered's BaaS journey, with a six-month sprint of technology reviews, talent acquisition, and early partner conversations. Early Challenges: From SC Nexus to Audax The first challenge? SC's legacy platform wasn't built for elastic, on-demand scaling. Kelvin's early review revealed that to onboard millions via digital platforms, the bank needed to rethink its core infrastructure, scalability, and compliance workflows. Building SC Nexus, Kelvin's team faced hurdles in hiring product & tech leaders, securing partnerships, and overcoming internal inertia. Yet, partnerships with Bukalapak and Ola in Indonesia proved transformative—showing how BaaS can drive financial inclusion by banking rural, unserved populations. Indonesia, Vietnam, and Thailand became natural launchpads, combining market scale with digital adoption. Audax: The Spin-Off & Reality Check Seeing an opportunity to commercialize Nexus technology beyond Standard Chartered, Kelvin spearheaded Audax's spin-off—a Bank-in-a-Box platform designed for banks across Southeast Asia and the Middle East. But Day 1 of Audax came with a stark reality: the B2B fintech sales cycle is a 600-day marathon. Despite early wins with Tier 1 banks like Maybank Islamic, the slow decision-making pace of banking clients became Audax's 'Batman vs. Bane' challenge—requiring a balance between fintech agility and enterprise-grade trust. What is BaaS (and Why Synapse Failed) Kelvin emphasized that BaaS is the ability for a bank's products and balance sheet to become native to another platform's ecosystem. But not all models are built equal. The intermediary model, popularized in the U.S. by firms like Synapse, collapsed due to lack of direct control, compliance failures, and fractured accountability between banks, intermediaries, and front-end partners. Kelvin's belief: Only banks can run BaaS properly. Direct bank-led BaaS models, as seen in Asia, are more sustainable and less prone to systemic risks. BaaS Beyond 2025: Data Ecosystems & Digital Transformation Looking ahead, Kelvin sees BaaS as the precursor to data ecosystems, where banks not only offer financial services but also monetize insights across e-commerce, ride-hailing, and payment platforms. But talent is key. Building next-gen products requires a 50-50 blend: seasoned banking compliance experts and non-bank technologists who challenge the status quo. Kelvin also called for regulators to enforce stringent standards on security and cloud governance, ensuring BaaS models remain robust while fostering financial inclusion. The Digital Transformation Imperative Laksh and Kelvin explored why legacy digital transformation fails: He also outlined how to improve transformation success rates: Leadership & The Fintech Ecosystem: Kelvin's Playbook On Singapore's fintech leadership, Kelvin shared: His advice for intrapreneurs: 'Focus on solving your own 'exam question' inside your firm before chasing shiny innovation titles.' For entrepreneurs: 'Validate product-market fit before scaling.' To bankers eyeing fintechs: 'Understand that fintech's speed comes with operational trade-offs.' And to VCs: 'Invest in B2B fintechs solving core infra problems—not just front-end UX plays.' Kelvin also discussed funding challenges, emphasizing that capital is drying up for vanity metrics-led fintechs, but will flow to infrastructure players delivering hard ROE impact. From Guinea Pigs to Industry Transformers By 2025, Kelvin believes fintechs are no longer guinea pigs for banks—they are the 'testing grounds that push banks to modernize faster.' However, the AI hype cycle is a distraction unless firms solve their data infrastructure problem first. Leadership & Gen Z: Bridging the Gap Reflecting on his leadership style, Kelvin stressed: About Audax Audax is a digital banking infrastructure provider spun out of Standard Chartered, offering a comprehensive Bank-in-a-Box solution that enables banks to rapidly deploy BaaS, embedded finance, and digital banking models across Southeast Asia and the Middle East. Audax is redefining scalability, reducing total cost of ownership, and enabling banks to rewire their business models for the future. You can watch all 4 Episodes on Digijanus' Youtube channel. About Laksh Gangwani Laksh Gangwani serves as Global Managing Director (Growth, Solutions, and Marketing) for a global financial institution. As the first exec hire in the region, he has played an instrumental role in expanding their footprint to APAC and Middle East, including setting up of offices in Singapore, Australia, Thailand, Dubai, and India (IFSC). Previously, Laksh built and scaled Symphony's award-winning wealth management proposition from scratch helping wealth managers save millions of dollars lost to inefficient processes and communication. In 2021, for his work in the Wealth Management industry, Laksh was recognized as the Leading Individual by WealthBriefing Asia. As a passion project, Laksh also hosts Digijanus (Asia's largest chatshow focussed on Digital transformation), where he invites fellow industry leaders to discuss ways to transform & grow the financial industry. The chat-show is followed by 80,000 people across social media platforms. Prior to this, for over a decade, Laksh has launched and scaled businesses in APAC for firms such as Thomson Reuters, LexisNexis, Threatmetrix, and Symphony. About the company: Digijanus is named after Janus - the Roman god of Transformation. Digijanus was founded in 2020 by Laksh Gangwani with the aim to expedite the transformation of the financial industry. Digjanus with 80,000 followers, across social media platforms, has now become Asia's leading platform for conversations reshaping the financial industry. Contact Info: Name: PR Team Email: Send Email Organization: Digijanus Website: Video URL: Release ID: 89166339 If there are any deficiencies, discrepancies, or concerns regarding the information presented in this press release, we kindly request that you promptly inform us by contacting [email protected] (it is important to note that this email is the authorized channel for such matters, sending multiple emails to multiple addresses does not necessarily help expedite your request). Our dedicated team is committed to addressing any identified issues within 8 hours to guarantee the delivery of accurate and reliable content to our esteemed readers.
Mint
28-07-2025
- Automotive
- Mint
MG Comet EV becomes costlier by ₹15,000, battery subscription too gets pricier
MG Comet EV, the most affordable electric car from JSW MG Motor India, has become pricier in India. The car manufacturer has revised the pricing of the MG Comet EV, which comes as the second price revision of 2025 for this model. Previously, the electric hatchback received a price hike of up to ₹ 36,000 in May this year. Now, the OEM has increased the pricing by up to ₹ 15,000 across variants. The MG Comet EV is available with a battery-as-a-service (BaaS) option as well. The car manufacturer has revised the rental charges for the battery subscription model as well. Now, the MG Comet EV customers have to pay a charge of ₹ 3.1 per kilometre, up from ₹ 2.9 per kilometre that was charged previously. For the MG Comet EV buyers who opt for the car without the BaaS, the Executive variant is available at ₹ 7.50 lakh (ex-showroom), up by ₹ 14,000 from the earlier price of ₹ 7.36 lakh (ex-showroom). The Excite as well as the Excite Fast Charging models have had their prices hiked by ₹ 15,000 each, and are now available at ₹ 8.57 lakh (ex-showroom) and ₹ 8.97 lakh (ex-showroom), respectively. The Exclusive variant's pricing has increased by ₹ 15,000, reaching ₹ 9.56 lakh (ex-showroom). The Exclusive Fast Charging and Blackstorm Edition variants have received relatively smaller increases of ₹ 14,000 each, and are priced at ₹ 9.97 lakh (ex-showroom) and ₹ 10 lakh (ex-showroom), respectively. For buyers choosing the BaaS plan, the alterations are a little varied. The entry-level Executive trim remains tagged at ₹ 4.99 lakh (ex-showroom), with no revision. But all the other variants in this model have seen a ₹ 15,000 hike. The Excite model now comes at ₹ 6.20 lakh (ex-showroom), while the Excite Fast Charging model is priced at ₹ 6.60 lakh (ex-showroom). Likewise, the Exclusive and Exclusive Fast Charging models now come at ₹ 7.20 lakh (ex-showroom) and ₹ 7.60 lakh (ex-showroom), respectively. The Blackstorm Edition under the BaaS scheme now comes for ₹ 7.63 lakh (ex-showroom), again with a ₹ 15,000 increase.
News18
27-07-2025
- Automotive
- News18
MG Comet Becomes Expensive With Price Hike On Battery Rent, Check Details
Last Updated: Now, the interested customers have to pay an extra amount of Rs 15,000. The company has also revised the charges on battery rent under its Battery-as-a-Service (BaaS) programme. The MG Comet has been getting all the praise ever since it was launched in India. A big credit goes to its compact design and spacious cabin. It was introduced under the price bracket between Rs 7.99 lakh to Rs 10.55 lakh (on-road). Now, the model has become expensive as the company hiked the prices on both car and battery rent. Now, the interested customers have to pay an extra amount of Rs 15,000. The company has also revised the charges on battery rent under its Battery-as-a-Service (BaaS) programme. It has been increased from Rs 2.9 per km to Rs 3.1 per km, making it more expensive than ever. Trim-wise Price After the revised price brackets, the MG Comet executive trim now comes at Rs 7.50 lakh, with an increased price of Rs 14,000. Earlier, it used to cost 7.36 lakh. Even the Excite and Excite Fast Charging models fall under the same category, featuring a hiked price by Rs 15,000 each. The former is available at Rs 8.57 lakh, while latter features the price tag of Rs 8.97 lakh. What's New In order to attract more target audience, the company has made some changes to the EV. The model now comes with a rear parking camera and power-folding outside rear view mirrors (ORVMs). expirence. The fast Charging variants now use a 17.4 kWh battery pack, which offers a maximum range up to 230 km on a single charge. view comments First Published: Disclaimer: Comments reflect users' views, not News18's. Please keep discussions respectful and constructive. Abusive, defamatory, or illegal comments will be removed. News18 may disable any comment at its discretion. By posting, you agree to our Terms of Use and Privacy Policy.
NDTV
26-07-2025
- Automotive
- NDTV
MG Comet EV Prices Hiked In India; Here's What It Costs Now
JSW MG Motor India has hiked the prices of the Comet EV for the second time in the Indian market. Talking about the quantum of revision, the prices of the electric vehicle have gone up by up to Rs 15,000, depending on the variant. This follows the previous price hike applied by the brand on the model in May 2025. With the changes in place, the prices of the battery rental through the brand's Battery-as-a-Service (BaaS) program will also be affected. Alongside the hike in ex-showroom prices, MG has increased the BaaS subscription fee from Rs 2.90 per km to Rs 3.10 per km. Although the increment may appear minor, with an additional Rs 200 for every 1,000 km, it could accumulate significantly over time for frequent users. Hence, it will have a direct impact on the running cost of the electric vehicle. Despite the price hike, there has not been a single addition or alteration to the feature list of the Comet EV. It still features dual 10.25-inch displays with one functioning as an instrument cluster and the other as an infotainment system, which supports wireless Android Auto and Apple CarPlay. The list also includes elements like A 4-speaker audio system, manual AC, electrically foldable ORVMs, power windows, and keyless entry with push-button start. Variant Old Price New Price Executive ₹7.36 lakh ₹7.50 lakh Excite ₹8.42 lakh ₹8.57 lakh Excite Fast Charging ₹8.82 lakh ₹8.97 lakh Exclusive ₹9.41 lakh ₹9.56 lakh Exclusive Fast Charging ₹9.83 lakh ₹9.97 lakh Blackstorm Edition ₹9.86 lakh ₹10 lakh For occupants' safety, the MG Comet EV gets features like dual front airbags, Electronic stability control (ESC), four-wheel disc brakes, hill-hold assist, ISOFIX child seat anchors, reverse parking sensors and camera, and electronic parking brake Powering the MG Comet EV is the same 17.3 kWh battery pack, offering a range of up to 230 km on a single charge. The charge from the battery is transferred to an electric motor, producing 42 hp of power and 110 Nm of peak torque. Once drained, the battery can be charged using 3.3kW from 0 to 80 per cent in 5.5 hours, while getting it to 100 per cent takes 7 hours.
Yahoo
25-07-2025
- Automotive
- Yahoo
Here's Why Nio Stock Is a Buy Before September
Key Points Nio's stock still trades far below its IPO price. Its valuations are being compressed by the trade tensions with China. It could skyrocket if it weathers those headwinds and scales up its business. 10 stocks we like better than Nio › Nio (NYSE: NIO), a major producer of electric vehicles (EVs) in China, has been a disappointing investment over the past few years. Its stock currently trades at about $5 compared to its initial public offering (IPO) price of $6.26 per American depositary share (ADS) in September 2018 and its record closing price of $62.84 in February 2021. Nio initially impressed the bulls with its soaring deliveries, and the buying frenzy in meme stocks amplified those gains. However, its stock pulled back as its deliveries slowed down, and it racked up steep losses. Rising rates drove investors back toward safer investments. The trade war between the U.S. and China made its stock even less appealing. But as Warren Buffett famously said, investors should be "greedy when others are fearful," and there's a lot of fear baked into its current stock price. Let's take a contrarian view and see why Nio's stock could be worth buying ahead of its second-quarter report in early September. 1. Its battery-swapping network is expanding Nio produces a wide range of electric sedans and SUVs under its namesake brand. Its newer Onvo and Firefly sub-brands sell cheaper SUVs and compact cars, respectively. It differentiates its vehicles from other Chinese EVs with its swappable batteries, which can be quickly swapped out at its power swap stations as a faster alternative to traditional chargers. Its drivers can pay for those battery swaps on an individual basis or subscribe to a "battery as a service" (BaaS) plan for lower rates. At the end of June, Nio operated 3,445 power swap stations across China and Europe. That's up from just 777 stations at the end of 2021. Expanding that network is a capital-intensive effort, but it should increase the stickiness of its brand, widen its moat against its competitors, and plant the seeds for higher-margin recurring BaaS revenues. It's also been working with several major investors, including China's battery-making giant CATL, to fund the future growth of that network. 2. Its deliveries are rising Nio's annual deliveries more than doubled in 2020 and 2021 but only grew 34% in 2022 and 31% in 2023. That slowdown -- which it attributed to tougher competition, macroheadwinds in China, and adverse weather conditions -- spooked a lot of its investors. But in 2024, its annual deliveries rose 39% to 221,970 vehicles. That growth was driven by its robust sales of Nio ET series sedans and Onvo SUVs in China, which boosted its domestic market share against its rivals, as well as its ongoing expansion into Europe. Nio's deliveries rose 40% year over year to 42,094 vehicles in 2025's Q1. In the first half of the year, its total deliveries increased nearly 31% year over year to 114,150 vehicles as its new Onvo and Firefly brands attracted more budget-conscious consumers. Those rising deliveries indicate Nio still has plenty of room to expand in China and Europe in the coming years even if its days of doubling its annual deliveries are over. For 2025, analysts expect Nio's revenue to rise 37% to 90.2 billion yuan ($12.6 billion). From 2024 to 2027, they expect its revenue to increase at a compound annual growth rate (CAGR) of 26% to 132.7 billion yuan ($18.5 billion) as it continues to roll out new vehicles. 3. Its vehicle margins are stabilizing Nio's annual vehicle margin reached a record high of 20.1% in 2021, but it plummeted to 9.5% in 2023 as it grappled with the pricing war in China's EV market and inflationary headwinds. But in 2024, its vehicle margin rose to 12.3% as it sold a higher mix of Nio's premium sedans, diluted its production costs, and streamlined its other expenses. Nio expects its namesake brand to maintain a vehicle margin of "around 15%" for 2025's Q2. That stability should offset some of the pressure from its lower-margin Onvo and Firefly brands. It probably won't come anywhere close to achieving a 20% vehicle margin again, but its vehicle margins should continue to stabilize as economies of scale kick in. That's why analysts expect Nio to narrow its net loss from 22.7 billion yuan ($3.2 billion) in 2024 to 7.6 billion yuan ($1.1 billion) in 2027. They also expect its earnings before interest, taxes, depreciation, and amortization (EBITDA) to turn positive by the final year. 4. Its valuation looks dirt cheap Lastly, Nio still trades at a deep discount to its growth potential presumably because the tariffs and trade tensions are driving investors away from Chinese stocks. With an enterprise value of 67.9 billion yuan ($9.5 billion), it trades at just 0.8 times this year's sales. For reference, Tesla (NASDAQ: TSLA) trades at 10.9 times this year's sales. So if you expect Nio's business to stabilize with narrowing losses as the trade tensions wane, it might be a great idea to accumulate this unloved stock before it posts its Q2 earnings report. Any good news could force investors to revalue its shares and send them soaring much higher. Should you buy stock in Nio right now? Before you buy stock in Nio, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Nio wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $634,627!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $1,046,799!* Now, it's worth noting Stock Advisor's total average return is 1,037% — a market-crushing outperformance compared to 182% for the S&P 500. Don't miss out on the latest top 10 list, available when you join Stock Advisor. See the 10 stocks » *Stock Advisor returns as of July 21, 2025 Leo Sun has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Tesla. The Motley Fool has a disclosure policy. Here's Why Nio Stock Is a Buy Before September was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
