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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
One of the poster children of digital banking globally, the UK-based fintech unicorn’s India entry last month raises some big questions.
Editor's note: Banking in India is a cutthroat market, with well-entrenched incumbents. New York-headquartered Citibank just last month announced it will be exiting its consumer banking business here after more than three decades of operations. A week later, South Africa’s second-largest bank, FirstRand Bank, told its employees in India that it would also be pulling out, according to The Economic Times. That hasn’t stopped a slew of fintech startups from launching as neobanks—a somewhat nebulous term referring to banking led by digital operations. And now, they’re joined by one of the biggest neobanks in the world, Revolut, which announced that it was setting up a team in India two weeks ago. The UK-based company has hired former Lendingkart chief business officer Paroma Chatterjee as its India CEO. The move, founder Nikolay Storonsky said in media interviews, was the start of Revolut’s planned expansion across markets in the Asia-Pacific and Latin America. The announcement has sparked interest across the industry. Revolut, reportedly in talks to raise fresh capital at a valuation of $10 billion to fund its growth spree, will likely spend heavily …
The Rs 250 SIP was launched last year by the former SEBI chairperson with one clear goal: financial inclusion. More than a year later, the much-hyped scheme doesn’t seem to have caught on with MF investors.
Europe’s largest fintech firm has its sights set on the Emirates. What can we expect?
The UK-based company will have to go above and beyond to survive a fiercely competitive and price-conscious market with strict regulations.
