Base rate customers should switch to the MCLR system

SQUARECAPITAL | February 13, 2018 | 134 views

State Bank of India (SBI) has recently confirmed a reduction of 0.30% in the base rates to 8.65% from the previous threshold of 8.95%. This may seem major until it is worked out that this will be applicable solely for home loan customers who got their loans sanctioned prior to April, 2016. People who got their home loans sanctioned in July, 2010 when base rates came into the picture will continue repaying interest at 10.40% per annum in spite of this reduction in base rates.

Spotlight

Sirius Finance Pty Ltd

Sirius Finance will strive to provide the highest level of financial services in a friendly, professional manner; to encourage the wise use of credit; to increase the knowledge and the ability of our clients to manage and control their financial well-being; and to provide relevant financial product options in order to assist our clients in meeting their goals now and in the future...

OTHER ARTICLES
SECURITY AND COMPLIANCE

Why Payments-as-a-Service is the first choice for FIs

Article | August 4, 2022

The pace of change within the global payment’s technology space is still at full speed with no sign of slowing down. While traditional incumbents have until recently taken comfort in their size and decades of dominance, new digital-only challenger banks are ramping up and making a huge impact on the global financial landscape.

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CORE BANKING

BIG TECH IN FINANCE: A DEEP DIVE INTO THE FUTURE OF FINTECH

Article | July 13, 2022

The following article looks at Big Tech and its impact on the financial services sector. Whilst competition from small fintech startups will certainly take away some market share from traditional banks, the impact of “GAFA” could be huge. The fintech movement did more than unbundle banking and its core services — it spurred financial inclusion across Asia, increased overall economic growth, and made significant inroads into the finance value chain. The born-digital companies brought technology to the forefront, attacking the traditional risk-averse sector from various points — digital payments, insurance, P2P lending, and investment management, among other avenues.

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FINANCIAL MANAGEMENT

How Fintechs Expanding in Latin America Can Build Trust with SMEs

Article | June 24, 2022

Small businesses in emerging economies are notoriously underfinanced. Despite making up over 99.5% of the economy in Latin America, SMEs face a financing gap in the trillions of dollars. For example, up to 78% of small businesses in Argentina and 45% in Peru struggle to grow because of financial constraints. Numerous articles and institutional white papers point to the lack of trust between banks and SMEs as a major cause of this financing gap. Banks simply do not know how to accurately calculate small business risk, especially in volatile economies in Latin America, so they offer high interest rates or pass on providing credit altogether.

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Could Google Acquire Tesla For $250 Billion?

Article | February 10, 2020

In the following analysis, we take a look at why Tesla (NASDAQ:TSLA) could be an attractive acquisition target for Google (NASDAQ:GOOG). We break down our analysis into three parts: what Tesla would stand to gain, what Google would stand to gain, and a scenario where Tesla’s value could rise to $1.5 trillion aided by a deal with Google.

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Spotlight

Sirius Finance Pty Ltd

Sirius Finance will strive to provide the highest level of financial services in a friendly, professional manner; to encourage the wise use of credit; to increase the knowledge and the ability of our clients to manage and control their financial well-being; and to provide relevant financial product options in order to assist our clients in meeting their goals now and in the future...

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FUNDING

USQ Expands Investment Platform with PREDEX Acquisition

USQ, Chatham Financial | August 02, 2022

Union Square Capital Partners, LLC, announced today it acquired the management of PREDEX, a real estate-focused interval fund. PREDEX (Ticker: PRDEX) has $163 million in AUM as of July 27, 2022, bringing total assets of USQ interval funds to approximately $400 million. “True diversification matters, and most investors have been reminded of that over the first half of this year,” said Thomas Miller, Chief Executive Officer of Union Square Capital Partners. Since both funds were launched, they have consistently demonstrated that non-correlation to the broader markets while still delivering strong risk-adjusted returns is possible, both having a three-year correlation of just -0.02 to the S&P 500 Index as of June 30, 2022. During the same period, the USQ Core Real Estate Fund (Ticker: USQIX) delivered an annualized return of 10.46%, while PRDEX delivered an annualized return of 12.09%. USQ’s first fund, USQIX, has a primary investment objective to generate a return comprised of both current income and long-term capital appreciation with moderate volatility and low correlation to the broader markets. USQ implements this strategy by investing in the core private equity real estate funds that comprise the NCREIF Fund Index — Open-end Diversified Core Equity (“NFI-ODCE”). PREDEX likewise serves as a gateway to private core real estate but implements a slightly different approach that allows for a portion of assets to be held in funds outside of the NFI-ODCE Index. “We are excited to join the USQ team and feel they are a perfect partner to support growing the PREDEX fund,” said J. Grayson Sanders, founder of PREDEX. “We are excited to join the USQ team and feel they are a perfect partner to support growing the PREDEX fund,” said J. Grayson Sanders, founder of PREDEX. The expansion of the USQ strategies is aligned with long-term plans for the firm. “This acquisition highlights our commitment to growing our asset management business through both organic growth and strategic acquisitions,” said Matt Henry, Managing Partner and Founder of USQ and Chief Executive Officer of Chatham Financial. The performance quoted represents past performance. Past performance does not guarantee future results. The current performance may be lower or higher than the performance data quoted. The investment return and principal value of the Fund will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data current to the most recent month end may be obtained by calling 1-833-877-3863 for USQIX or 1-877-940-7202 for PRDEX. Fund returns reflect actual fee waivers and reimbursement of expenses for the time periods represented. Had fees and expenses not been waived and reimbursed, returns would have been lower. See each fund’s prospectus for more information on current fees and expenses. About USQ USQ, a wholly owned subsidiary of Chatham Financial Corp., is an investment management firm providing access to inventive strategies for real asset investing. The USQ platform leverages in-depth knowledge of real estate financing complexities to offer modern investing approaches spanning the needs from registered investment advisors to institutional investors. Union Square Capital Partners, LLC brings low-cost, institutional private real estate to wealth managers. About Chatham Financial Chatham Financial is the largest independent financial risk management advisory and technology firm. A leader in debt and derivative solutions, Chatham provides clients with access to in-depth knowledge, innovative tools, and an incomparable team of over 600 employees to help mitigate risks associated with interest rate, foreign currency, and commodity exposures. Founded in 1991, Chatham serves more than 3,000 companies across a wide range of industries — handling over $750 billion in transaction volume annually and helping businesses maximize their value in the capital markets, every day. To learn more, visit chathamfinancial.com.

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FUNDING

FinTech Leader DigniFi Announces Bridge Funding to Support Continued Growth

DigniFi, Brigade Capital Management | August 01, 2022

Today, DigniFi, a leading fintech platform for the automotive industry, announced a new partnership with asset manager Brigade Capital Management, LP (“Brigade”). Among other investments across the fixed income spectrum, Brigade provides tailored capital solutions to specialty finance companies and is widely respected for its capital markets expertise and broad network of institutional investors. This initial recapitalization empowers DigniFi to execute its three-year growth strategy centered on operational stability, product development and commercialization, and expansion into transportation-adjacent markets and ecosystems. A representative from Brigade will join DigniFi’s Board of Directors as an Advisor and Observer. About DigniFi DigniFi is a FinTech company and leader in the world of transportation. We help auto dealers and small businesses across the country grow their revenue and delight their customers with visionary, inclusive financing. Our technology simplifies the loan application process and enables small businesses to offer on-the-spot financing, for auto repairs, parts and accessory purchases, and maintenance packages. All credit products are originated by WebBank, Member FDIC. To date, DigniFi has helped over 6,000 small businesses across the nation secure almost $200 million in incremental transactions. For more information, visit DigniFi.com.

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FUNDING

Portage Launches Late-Stage Portage Capital Solutions Fund

Portage, Sagard | August 01, 2022

Global fintech investor Portage announced today the launch of a late-stage, fintech-focused Portage Capital Solutions (“PCS”) Fund. Co-Heads Daniel Ballen and Devon Kirk will lead the strategy, focusing on structured opportunities in fintech and financial services companies globally and targeting investments over $50 million. Devon Kirk has nearly two decades of experience in private equity and structured solutions with a focus on financials. Devon spent over ten years at CPP Investments, based in Toronto. She was most recently Managing Director & Head of Capital Solutions, overseeing financials, special situations and esoteric investments. Prior to that, she was a Managing Director in their Direct Private Equity group, focused on financials. “We see many great companies that are looking for the right partner. Portage’s expertise and network in fintech and financial services are real differentiators as businesses look to navigate this market. We will deliver more than just capital,” said Devon Kirk. Daniel Ballen has spent nearly twenty years investing in private equity, structured equity and special situations focused on the financial services, fintech and real estate technology sectors. Prior to Portage, he served as a Portfolio Manager at PIMCO, based in New York, where he led a team focused on structured equity and private equity investments in both North America and Europe for the firm’s alternatives franchise. Daniel has also served on the investment teams of Bain Capital and Pine Brook Partners, partnering with growing businesses across the fintech and financials landscape. “In this market environment, we’re seeing accelerated demand for flexible capital solutions as entrepreneurs and shareholders look to continue the strong growth trajectory of their business,” said Daniel Ballen. Portage believes PCS’ strategy is well-positioned to meet the demand for capital across all cycles in both public and private markets, whether for organic growth, M&A, or recapitalizations. PCS will leverage Portage’s existing platform, one of the largest global fintech specialist investment firms with over $3 billion in AUM, and benefit from its deep fintech experience, established sourcing network and proven value-creation expertise. “Daniel and Devon bring extensive sourcing and transaction execution experience across asset classes,” said Adam Felesky, Co-Founder and CEO of Portage. “Daniel and Devon bring extensive sourcing and transaction execution experience across asset classes,” said Adam Felesky, Co-Founder and CEO of Portage. “Together, we can expand our efforts to partner with later stage visionary fintech entrepreneurs providing both capital and a value creation network that supports them throughout the life of their business.” "Portage is building a global platform investing in what we view as the top financial services leaders across the globe,” said Paul Desmarais III, Chairman and CEO of Sagard. “With talented professionals such as Daniel and Devon, we are excited to support companies from early-stage to growth.” The PCS team is based in New York and Toronto, with plans for further expansion over time. The team will be active in the third quarter of 2022, with fundraising efforts already underway. About Portage Portage is a global fintech investor with US$3 billion under management* that partners with some of the world’s most innovative financial technology companies. Portage's mission is to be the leading fintech investor globally, empowering entrepreneurs and attracting top talent motivated to reshape financial services. The Portage team has deep entrepreneurial and industry experience and provides founders with privileged access to the firm’s partners, in-house value creation experts, and a broader global fintech ecosystem. Portage is a subsidiary of multi-strategy alternative asset manager Sagard. The firm has offices in Toronto, Montreal, New York, Paris and London. About Sagard Sagard is a multi-strategy alternative asset manager with more than US$14 billion under management** and professionals located in Canada, the U.S. and Europe. Sagard seeks attractive investment returns by combining its entrepreneurial and disciplined culture with flexible capital and a unique global network of portfolio companies, limited partners, advisors and other valued relationships. As a firm, Sagard operates platforms that invest across five asset classes: venture capital, private equity, private credit, real estate and healthcare royalties. Sagard also engages in private wealth management and new venture creation through its ecosystem partners.

Read More

FUNDING

USQ Expands Investment Platform with PREDEX Acquisition

USQ, Chatham Financial | August 02, 2022

Union Square Capital Partners, LLC, announced today it acquired the management of PREDEX, a real estate-focused interval fund. PREDEX (Ticker: PRDEX) has $163 million in AUM as of July 27, 2022, bringing total assets of USQ interval funds to approximately $400 million. “True diversification matters, and most investors have been reminded of that over the first half of this year,” said Thomas Miller, Chief Executive Officer of Union Square Capital Partners. Since both funds were launched, they have consistently demonstrated that non-correlation to the broader markets while still delivering strong risk-adjusted returns is possible, both having a three-year correlation of just -0.02 to the S&P 500 Index as of June 30, 2022. During the same period, the USQ Core Real Estate Fund (Ticker: USQIX) delivered an annualized return of 10.46%, while PRDEX delivered an annualized return of 12.09%. USQ’s first fund, USQIX, has a primary investment objective to generate a return comprised of both current income and long-term capital appreciation with moderate volatility and low correlation to the broader markets. USQ implements this strategy by investing in the core private equity real estate funds that comprise the NCREIF Fund Index — Open-end Diversified Core Equity (“NFI-ODCE”). PREDEX likewise serves as a gateway to private core real estate but implements a slightly different approach that allows for a portion of assets to be held in funds outside of the NFI-ODCE Index. “We are excited to join the USQ team and feel they are a perfect partner to support growing the PREDEX fund,” said J. Grayson Sanders, founder of PREDEX. “We are excited to join the USQ team and feel they are a perfect partner to support growing the PREDEX fund,” said J. Grayson Sanders, founder of PREDEX. The expansion of the USQ strategies is aligned with long-term plans for the firm. “This acquisition highlights our commitment to growing our asset management business through both organic growth and strategic acquisitions,” said Matt Henry, Managing Partner and Founder of USQ and Chief Executive Officer of Chatham Financial. The performance quoted represents past performance. Past performance does not guarantee future results. The current performance may be lower or higher than the performance data quoted. The investment return and principal value of the Fund will fluctuate; an investor’s shares, when redeemed, may be worth more or less than their original cost. Performance data current to the most recent month end may be obtained by calling 1-833-877-3863 for USQIX or 1-877-940-7202 for PRDEX. Fund returns reflect actual fee waivers and reimbursement of expenses for the time periods represented. Had fees and expenses not been waived and reimbursed, returns would have been lower. See each fund’s prospectus for more information on current fees and expenses. About USQ USQ, a wholly owned subsidiary of Chatham Financial Corp., is an investment management firm providing access to inventive strategies for real asset investing. The USQ platform leverages in-depth knowledge of real estate financing complexities to offer modern investing approaches spanning the needs from registered investment advisors to institutional investors. Union Square Capital Partners, LLC brings low-cost, institutional private real estate to wealth managers. About Chatham Financial Chatham Financial is the largest independent financial risk management advisory and technology firm. A leader in debt and derivative solutions, Chatham provides clients with access to in-depth knowledge, innovative tools, and an incomparable team of over 600 employees to help mitigate risks associated with interest rate, foreign currency, and commodity exposures. Founded in 1991, Chatham serves more than 3,000 companies across a wide range of industries — handling over $750 billion in transaction volume annually and helping businesses maximize their value in the capital markets, every day. To learn more, visit chathamfinancial.com.

Read More

FUNDING

FinTech Leader DigniFi Announces Bridge Funding to Support Continued Growth

DigniFi, Brigade Capital Management | August 01, 2022

Today, DigniFi, a leading fintech platform for the automotive industry, announced a new partnership with asset manager Brigade Capital Management, LP (“Brigade”). Among other investments across the fixed income spectrum, Brigade provides tailored capital solutions to specialty finance companies and is widely respected for its capital markets expertise and broad network of institutional investors. This initial recapitalization empowers DigniFi to execute its three-year growth strategy centered on operational stability, product development and commercialization, and expansion into transportation-adjacent markets and ecosystems. A representative from Brigade will join DigniFi’s Board of Directors as an Advisor and Observer. About DigniFi DigniFi is a FinTech company and leader in the world of transportation. We help auto dealers and small businesses across the country grow their revenue and delight their customers with visionary, inclusive financing. Our technology simplifies the loan application process and enables small businesses to offer on-the-spot financing, for auto repairs, parts and accessory purchases, and maintenance packages. All credit products are originated by WebBank, Member FDIC. To date, DigniFi has helped over 6,000 small businesses across the nation secure almost $200 million in incremental transactions. For more information, visit DigniFi.com.

Read More

FUNDING

Portage Launches Late-Stage Portage Capital Solutions Fund

Portage, Sagard | August 01, 2022

Global fintech investor Portage announced today the launch of a late-stage, fintech-focused Portage Capital Solutions (“PCS”) Fund. Co-Heads Daniel Ballen and Devon Kirk will lead the strategy, focusing on structured opportunities in fintech and financial services companies globally and targeting investments over $50 million. Devon Kirk has nearly two decades of experience in private equity and structured solutions with a focus on financials. Devon spent over ten years at CPP Investments, based in Toronto. She was most recently Managing Director & Head of Capital Solutions, overseeing financials, special situations and esoteric investments. Prior to that, she was a Managing Director in their Direct Private Equity group, focused on financials. “We see many great companies that are looking for the right partner. Portage’s expertise and network in fintech and financial services are real differentiators as businesses look to navigate this market. We will deliver more than just capital,” said Devon Kirk. Daniel Ballen has spent nearly twenty years investing in private equity, structured equity and special situations focused on the financial services, fintech and real estate technology sectors. Prior to Portage, he served as a Portfolio Manager at PIMCO, based in New York, where he led a team focused on structured equity and private equity investments in both North America and Europe for the firm’s alternatives franchise. Daniel has also served on the investment teams of Bain Capital and Pine Brook Partners, partnering with growing businesses across the fintech and financials landscape. “In this market environment, we’re seeing accelerated demand for flexible capital solutions as entrepreneurs and shareholders look to continue the strong growth trajectory of their business,” said Daniel Ballen. Portage believes PCS’ strategy is well-positioned to meet the demand for capital across all cycles in both public and private markets, whether for organic growth, M&A, or recapitalizations. PCS will leverage Portage’s existing platform, one of the largest global fintech specialist investment firms with over $3 billion in AUM, and benefit from its deep fintech experience, established sourcing network and proven value-creation expertise. “Daniel and Devon bring extensive sourcing and transaction execution experience across asset classes,” said Adam Felesky, Co-Founder and CEO of Portage. “Daniel and Devon bring extensive sourcing and transaction execution experience across asset classes,” said Adam Felesky, Co-Founder and CEO of Portage. “Together, we can expand our efforts to partner with later stage visionary fintech entrepreneurs providing both capital and a value creation network that supports them throughout the life of their business.” "Portage is building a global platform investing in what we view as the top financial services leaders across the globe,” said Paul Desmarais III, Chairman and CEO of Sagard. “With talented professionals such as Daniel and Devon, we are excited to support companies from early-stage to growth.” The PCS team is based in New York and Toronto, with plans for further expansion over time. The team will be active in the third quarter of 2022, with fundraising efforts already underway. About Portage Portage is a global fintech investor with US$3 billion under management* that partners with some of the world’s most innovative financial technology companies. Portage's mission is to be the leading fintech investor globally, empowering entrepreneurs and attracting top talent motivated to reshape financial services. The Portage team has deep entrepreneurial and industry experience and provides founders with privileged access to the firm’s partners, in-house value creation experts, and a broader global fintech ecosystem. Portage is a subsidiary of multi-strategy alternative asset manager Sagard. The firm has offices in Toronto, Montreal, New York, Paris and London. About Sagard Sagard is a multi-strategy alternative asset manager with more than US$14 billion under management** and professionals located in Canada, the U.S. and Europe. Sagard seeks attractive investment returns by combining its entrepreneurial and disciplined culture with flexible capital and a unique global network of portfolio companies, limited partners, advisors and other valued relationships. As a firm, Sagard operates platforms that invest across five asset classes: venture capital, private equity, private credit, real estate and healthcare royalties. Sagard also engages in private wealth management and new venture creation through its ecosystem partners.

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