Latest news with #Fintech
Zawya
21 hours ago
- Business
- Zawya
Bahrain Bourse and BENEFIT partner to launch eIPO service on BenefitPay
BENEFIT, the Kingdom's innovator and leading company in Fintech and electronic financial transactions service, has signed a strategic cooperation agreement with Bahrain Clear, a fully-owned subsidiary of Bahrain Bourse, to launch eIPO Service (electronic initial public offering service) on BenefitPay. This initiative marks a significant advancement in streamlining investor access to public share offerings on the Bahrain Bourse. The new feature within the BenefitPay application, expected to be launched Q4 2025, will provide a fully integrated digital platform that enables users to subscribe to IPOs listed on the Bahrain Bourse. With its intuitive and user-friendly interface, the service will ensure a smooth end-to-end experience—from registration through to payment—while offering detailed and up-to-date information on available public offerings. This enhancement aims to provide retail investors with streamlined access to investment opportunities, improving both accessibility and overall user convenience. Shaikh Khalifa bin Ebrahim Al Khalifa, Chief Executive Officer of Bahrain Bourse and Vice Chairman & Managing Director of Bahrain Clear stated 'We are pleased to collaborate with BENEFIT—an instrumental force in advancing Bahrain's digital financial infrastructure—to expand the reach of our eIPO services through the BenefitPay platform. The eIPO service provides a secure, streamlined process for submitting and managing IPO subscription applications. Integrating this service within BenefitPay represents a strategic evolution in our efforts to enhance investor accessibility, simplify the subscription process, and foster greater public participation in capital market opportunities.' 'The eIPO platform aims to further complement current service offering by Bahrain Clear, and aims to be aligned with the key objective of Financial Services Sector Development Strategy (2022-2026),' Shaikh Khalifa added. Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi, stated: 'We are pleased to announce this strategic partnership with Bahrain Bourse, which represents a major step forward in advancing digital financial services across the Kingdom. By integrating eIPO functionality into BenefitPay, we are enabling individual investors to subscribe to IPOs more efficiently, securely, and transparently. This service simplifies the subscription process and encourages broader investor participation in IPOs—solidifying BENEFIT's role as a key enabler of digital transformation within the Bahrain Bourse and the wider financial ecosystem.' Mr. AlJanahi further added, 'This initiative underscores BENEFIT's ongoing efforts to support the Kingdom of Bahrain's dynamic digital transformation within the banking and financial services sector. We remain dedicated to continuously enhancing the capabilities of the BenefitPay platform by introducing forward-looking features that promote financial inclusion and encourage a more informed and engaged investment community. We are confident that this collaboration will play a meaningful role in increasing investor participation and further strengthening the capital market ecosystem.'
Time of India
3 days ago
- Business
- Time of India
India's Fintech sector projected to grow with focus on product expansion, risk control, and inclusion
. India's Fintech industry is growing with emphasis on safer lending, financial inclusion, and better risk control, according to a recent TransUnion CIBIL report. Fintech-led non-banking financial companies (NBFCs), which operate mainly through digital platforms, had an outstanding loan book of Rs 1.3 trillion by December 2024. This represents a sharp 32% year-on-year growth. Despite holding just 1% of the total loan balance across the lending industry, Fintech firms have made a big impact in small-ticket personal loans (STPLs). Nearly 89% of personal loans under Rs 50,000 originated from Fintech lenders, reflecting their strong grip on this segment. The report also highlights a clear shift towards secured loan products like loans against property and business loans. Business loan originations from Fintech lenders now make up 12% of all such loans in the industry. There is also a visible push toward underserved markets. More young and rural borrowers are turning to Fintech platforms, which is helping to promote financial inclusion. Still, even borrowers with strong credit scores are mostly receiving smaller loans, averaging under Rs 50,000. The report further points out that while Fintech lenders have the potential to grow in higher-ticket personal and consumer loans, they are yet to build lasting customer loyalty outside STPLs. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like [단독] 서울 임플란트 '33만원' 에 가능해 플란치과 더 알아보기 Undo Expanding their product range could help address this gap. There are also rising concerns. Delinquency in business and property loans is increasing, underlining the need for better credit risk monitoring. The report urges Fintechs to use tools like CreditVision, which offer deeper insights into borrower behaviour using trended data. Overall, while India's Fintech sector shows promise, sustainable growth of the sector will depend on how well it adapts to the evolving lending environment—by diversifying its products and strengthening its risk frameworks. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
India Gazette
3 days ago
- Business
- India Gazette
India's fintech sector poised for next phase of growth with product diversification, smarter risk management: Report
New Delhi [India], May 30 (ANI): India's Fintech sector continues to grow rapidly and is now entering a new phase focused on product diversification, smarter risk management, and deeper financial inclusion, according to a report by TransUnion CIBIL The report mentioned that as of December 2024, Fintech lenders, defined as digitally driven NBFCs, had an outstanding loan balance of Rs 1.3 trillion, marking a significant 32 per cent year-on-year growth. Though they currently contribute only about 1 per cent of total industry loan balances, their dominance in small ticket personal loans (STPLs) is striking. Nearly 89 per cent of personal loan originations under Rs 50,000 were issued by Fintech lenders. The report said, 'Business loans and property loans being popular products opted by FinTech consumers continue to present opportunity for product diversification.' The report highlighted a strategic shift among Fintechs toward offering more secure loan products, such as loans against property and business loans. These segments saw an increase in their share of overall balances, indicating Fintechs' intent to meet broader credit demands. In fact, business loan originations by Fintechs now make up 12 per cent of all such industry loans. TransUnion CIBIL also pointed to a growing base of younger and rural borrowers among Fintech customers, a trend that strengthens financial inclusion. It said, 'FinTech lenders are attracting younger and rural consumers, thus promoting financial inclusion. FinTechs have reduced average loan amounts across risk tiers.' However, the average loan amount disbursed by Fintechs has declined across all risk categories. Even customers with top credit scores received loans below Rs 50,000 on average. One of the key suggestions in the report is the need for Fintechs to diversify further, particularly by expanding into higher-ticket personal loans, consumer loans, and secured products. While customers are exploring these segments, their loyalty to Fintech brands beyond STPLs remains low. The report said, 'Foraying into personal loans of higher ticket size could also help in addressing consumer preferences.' In terms of risk, early delinquencies in STPLs remain stable, but there is a noticeable increase in overdue accounts in business loans and loans against property. The report stressed the need for stronger portfolio risk monitoring and smarter debt collection strategies to ensure sustainable growth. To navigate the evolving lending landscape, the report recommended using advanced data analytics, like its CreditVision algorithms, which provide a trended view of borrower behavior. This can help Fintechs make better lending decisions and manage risks effectively. Overall, the report paints a positive outlook for India's Fintech sector, provided it adapts swiftly by broadening its product base and tightening its credit risk frameworks. (ANI)
Yahoo
3 days ago
- Business
- Yahoo
Blend Achieves AWS Financial Services Competency- Advancing Cloud Innovation for Financial Institutions
NEW YORK, May 29, 2025 /PRNewswire/ -- We are thrilled to announce that Blend has earned the AWS Financial Services Competency badge a prestigious recognition that validates our deep expertise and proven success in delivering innovative, secure, and scalable solutions for the financial services industry. This achievement highlights our ability to help banks, insurers, Fintech's, and capital markets clients accelerate their digital transformation and AI adoption on AWS. The AWS Financial Services Competency demonstrates that Blend has the technical expertise and customer success to support financial services companies in their cloud journey while meeting regulatory and compliance requirements. "This is a big moment. With the AWS Financial Services Competency, we're raising the bar on what's possible for financial institutions. With over 92 mission-critical projects delivered and a proven record of accelerating AI adoption, this milestone strengthens our ability to help clients modernize securely, scale intelligently, and innovate faster on AWS. We're proud to co-create solutions that meet complex regulatory demands—and unlock transformational value for banks, Fintech's, payment providers, and capital markets." — Stephanie Pace, VP of Strategic Partnerships, Blend360 "Achieving AWS Financial Services Competency reinforces our commitment to delivering transformative AI solutions that meet the unique demands of the financial services industry. As we help Fortune 500 financial institutions navigate their AI transformation journeys– from wealth management firms implementing agentic advisory platforms to payment processors leveraging real-time decisioning—this competency ensures we can scale these innovations securely and compliantly on AWS. It's not just about cloud migration; it's about enabling financial services leaders to reimagine their operating models for the AI era while maintaining the trust and security their clients expect." — Alex Sion, Financial Services Lead, Blend360 Driving Innovation in Financial Services With over a decade of partnering with Fortune 500 companies to enable innovation through data, AI, and generative technologies. Our AWS Financial Services Competency builds on our existing strengths and recent achievements, including: Premier AWS Partner Status: Our Premier AWS Partner Status recognizes our elite technical competency, proven customer success, and ability to consistently meet AWS's highest technical and business standards. 92+ projects delivered: With 89% supporting mission-critical financial sector initiatives Proven track record: 43 % year-over-year growth in AWS revenue Strategic Partnership Excellence This achievement aligns with Blend's 2025 strategic focus on Financial Services as a vertical growth engine, targeting Wealth and Asset Management and Cards, Payments and Processor sectors. Our AWS partnership continues to strengthen through: Technical Depth: Advanced certifications and specialized expertise in AWS financial services solutions Industry Alignment: Solutions designed specifically for the unique challenges of financial institutions Co-sell Effectiveness: Proven ability to work collaboratively with AWS teams to deliver customer success Focused Solutions for Financial Services With this competency, Blend enhances its ability to deliver tailored solutions to financial services clients, including: AI Powered Financial Services: Generative AI applications for customer service, risk assessment, and operational efficiency. Payments Processing: Secure, scalable payment infrastructure and personalization, loyalty, and marketing systems. Internal Approval Processes: Solutions that meet stringent financial industry standards and requirements Banking Modernization: Cloud migration, wealth management and financial wellness capabilities, and digital transformation initiatives About the AWS Financial Services Competency The AWS Financial Services Competency is part of the AWS Partner Network (APN) and is designed to identify and validate AWS Partners with demonstrated expertise in delivering solutions for financial services customers. Partners achieving this competency have proven experience helping financial institutions accelerate their digital transformation while meeting regulatory requirements and maintaining the highest standards of security and compliance. About Blend Blend is a premier data and AI services provider, committed to co-creating meaningful impact for its clients through the power of data, AI, technology, and people. With a mission to fuel bold visions, Blend tackles significant challenges by seamlessly aligning human expertise with artificial intelligence. The company is dedicated to unlocking value and fostering innovation for its clients by harnessing world-class people and data-driven strategy. We believe that the power of people and AI can have a meaningful impact on your world. To learn more about how Blend can accelerate your AWS financial services journey, explore our capabilities and offerings. For inquiries about getting started, contact us. View original content to download multimedia: SOURCE Blend360 Sign in to access your portfolio
Finextra
4 days ago
- Business
- Finextra
Sumsub introduces bank account verification across Europe
Sumsub, a global full-cycle verification platform, announces the launch of its Bank Account Verification solution. 0 The new solution instantly verifies customer account ownership, outstanding balance, and detailed transaction history, which enables businesses to prevent account takeover and payment fraud, assess user financial vulnerability and creditworthiness, and ensure compliance with key regulatory obligations, including those under PSD2 and AML/CTF frameworks. Sumsub's strategic partnership with Enable Banking leverages their advanced Open Banking infrastructure to power its Bank Account Verification tool. This collaboration provides seamless connectivity across Europe, ensuring secure, real-time access to verified financial data. With Sumsub's Bank Account Verification, users can securely share their financial institution data via the Open Banking infrastructure in 29 countries on a pan-European level. This process is seamlessly enabled through a simple bank account login that leverages Strong Customer Authentication (SCA) tools which have been implemented by banking institutions in virtually all EEA countries. By leveraging real-time verification of granular banking data that has already passed strict due diligence processes, businesses can make well-informed risk management decisions that allow them to prevent identity and financial fraud, streamline operations by eliminating document processing, and deliver a seamless user experience across the Fintech, iGaming, andE-commerce industries. Fraud is on the rise globally, with increasingly sophisticated methods like deepfakes gaining traction. According to recent data from Sumsub's Identity Fraud Report 2024, deepfakes accounted for 7% of global fraud attempts in 2024, marking a 4x increase from the previous year, including a staggering 118% surge in the UK. Europe, as the second worst region for ID fraud growth, saw a 150% increase, highlighting the escalating risks. With Juniper research projecting global Open Banking transaction values to surpass $330 billion by 2027, the opportunities for fraudsters are growing alongside the stakes for businesses. This reaffirms that robust verification and anti-fraud measures are more critical than ever. Key features and benefits: • Real-time account verification: Confirms bank account ownership, activity, and balance instantly. • Regulatory compliance: Ensures adherence to PSD2, AML/CTF, and enhanced due diligence (EDD) requirements. • Seamless integration: Easily integrates with client systems via API and SDK for smooth data transmission. • Secure and user-friendly: Employs encrypted connections and real-time presence verification to protect user data. • Comprehensive data validation: Verifies key financial metrics, including account activity, transaction history, and income details. Main use cases: • Payment method verification: Confirms bank account authenticity and ownership to ensure secure payment processing. • Compliance for high-risk transactions: Validates sources of funds and meets EDD standards for high-value financial activities. • Responsible lending: Supports income verification and credit risk assessment for lenders and financial institutions. • Age verification: Ensures compliance for age-restricted platforms such as iGaming and dating services. • Fraud prevention: Verifies account authenticity for secure transactions across fintech and payment platforms. 'With regulatory landscapes becoming more complex and sophisticated fraud threats emerging, businesses need verification solutions that are not only compliant but also frictionless. Our Bank Account Verification product offers businesses the tools they need to operate securely, scale confidently, and meet the demands of modern regulatory frameworks across Europe,' said Andrew Novoselsky, Chief Product Officer at Sumsub. 'At Sumsub, we are not only committed to helping businesses stay compliant but also mitigate the risks posed by fraudsters, ensuring that companies can confidently protect their users and operations in a risky digital landscape.' 'We are thrilled to power Sumsub's Bank Account Verification tool. Our mission is to facilitate innovative solutions through open banking, and this partnership exemplifies this. Our collaboration reaffirms our commitment to providing businesses with secure and seamless access to open banking data across Europe, said Sarah Häger, CCO at Enable Banking. 'By integrating our extensive banking connectivity into Sumsub's advanced platform, we are enabling them to offer an even more robust solution, empowering financial businesses to minimize fraud, and avoid money laundering.. We look forward to continuing our partnership with Sumsub and supporting their mission to deliver top-notch verification solutions.' Sumsub's Bank Account Verification seamlessly enables businesses to serve customers efficiently while fully meeting regulatory requirements. The system verifies account ownership and activity in real-time, extracting essential data, such as credit limit, remaining balance, latest transaction, and complete transaction history.
