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The report emphasises the evolving preferences of borrowers and lenders, signalling a shift towards digital financial services.

While regulatory scrutiny has increased, the industry continues to grapple with issues of speculation and insufficient safeguards.

Razorpay will seek clearance from the National Company Law Tribunal (NCLT) in the next two months to merge its American holding company with its India unit. It would then also officially appoint an auditor for the valuation discussions.

UK-based blockchain-based wholesale payments firm, Fnality seeks to bridge the gap between mainstream and digital finance to cut the time and cost of settling, managing collateral and making payments for financial market transactions. It has raised around USD 95 million in a second round of funding and awaits for approval to begin operations.

Razorpay will seek clearance from the National Company Law Tribunal (NCLT) in the next two months to merge its American holding company with its India unit. It would then also officially appoint an auditor for the valuation discussions.

The Singapore FinTech Festival, hosted by MAS, will bring together global financial sector leaders amid geopolitical tensions, including Kristalina Georgieva, Ajay Banga, Ravi Menon, Mairead McGuinness, Balaji Srinivasan and Eric Jing.

At a panel discussion at ETBFSI Converge Summit 2023, fintech honchos offered a compelling narrative of innovation and adaptability in the ever-changing business and regulatory landscape.

At a panel discussion at the ETBFSI Converge Summit, fintech leaders said co-creation, smaller partnerships, and strategic collaborations reflect a dynamic ecosystem eager to leverage collective expertise for sustained growth.

Starting next year, fintech firms can only charge a maximum of 0.3% interest per day for a loan intended for consumption which will fall to 0.1% in 2026, the country’s Financial Services Authority (OJK) said. Currently the maximum is 0.4% interest per day.

While there has been a funding winter in startups over the past year, funding has seen an uprise in early stage deal funding and decline in late stage deals funding. FinTechs across the globe raised about USD 2 billion in October, while the top 20 deals summed up to about USD 1.28 billion.