Fintech News

20% of gen AI PoCs in India were in production in FY 2024. FY 2025 expects revenue growth, AI agent bots deployment in customer service, sales, underwriting, document intelligence.

The stock fell 20% for two consecutive days after January 31, when the Reserve Bank of India imposed restrictions on Paytm Payments Bank including accepting fresh deposits and doing credit transactions. On March 11, the RBI barred Paytm Payments Bank from onboarding new customers.

Zeta, led by Bhavin Turakhia, aims for $1 trillion UPI credit disbursals by 2030. The fintech startup launches a new tech stack for UPI transactions, targeting global break-even and strategic partnerships.

India’s data centre capacity will double to 2,000 MW by 2026, driven by ‘green energy’. The industry expects substantial growth, with increasing internet users and digitisation fueling demand for data centres.

Paytm Payments Bank transitions bill payment operations to Euronet Services India, impacting commission revenue. Senior executives resign amidst business challenges, influencing OCL’s performance in the market.

NPCI has onboarded Benjamin Ambrose as Chief Information Security Officer, and Pravin Kumar as Chief Market Information Security Officer.

Paytm Payments Bank transitions bill payment operations to Euronet Services India, impacting commission revenue. Senior executives resign amidst business challenges, influencing OCL’s performance in the market.

Fintech startup Simpl has laid off around 100 employees in a restructuring exercise, a media report said on Wednesday.

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 2.55 billion in April, while the top 20 deals summed up to about USD 1.82 billion.

Pine Labs developed Sesame, a large language model for BFSI in India, with Setu and Sarvam AI. Sesame leverages financial data for credit underwriting, fraud detection, loan monitoring, and finance advice, emphasizing the account aggregator framework and Applied AI.