Government will back state-run banks to commercially deal with bad loans

| June 07, 2016

Government will back state-run banks to commercially deal with bad loans
The government will back state-run banks to commercially deal with bad loans that have been a drag on their performance, finance minister Arun Jaitley said...

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The future of the banking ecosystem will look much different than today and will extend well beyond financial services. There is a unique opportunity to capitalize on the insights banks hold and the innovation that they can build, buy or collaborate with to become the centre of a consumer’s ev


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FINTECH

IBM and SAP will Assist Financial Institutions in Hastening Cloud Adoption in Order to Modernise Operations in a Secure Environment

IBM | July 30, 2021

IBM and SAP SE announced today that SAP would onboard two of its finance and data management products to IBM Cloud for Financial Services, accelerating IBM cloud adoption in the financial services industry. The collaboration will be geared to assist the companies in meeting the industry's high compliance, security, and resiliency standards, as well as to support financial services institutions' business transformation and innovation. Hybrid cloud environments are becoming increasingly crucial as banks and insurers manage the need to supply innovative services while maintaining the industry's stringent security and regulatory standards. IBM unveiled the IBM Cloud fo...

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PAYMENTS

Botkeeper Collaborates with Vic.ai to Advance Accounting Automation

Botkeeper | July 29, 2021

Clients of Botkeeper will soon be able to use a new functionality powered by Vic.ai that is built in the Botkeeper Operating System. This new module will offer accountants and firms a unified, faster, more intelligent, and advanced autonomous Accounts Payable (AP) solution coupled with their general ledger (GL) and bill pay systems, all from within the Botkeeper Operating System. The incorporation of Vic.ai into the Botkeeper Operating System provides accountants with improved autonomous invoice processing and real-time analytics. The combination of Botkeeper and Vic.ai will bring together the most comprehensive source of data in a continually smarter platform, removing onerou...

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BLOCKCHAIN

Mastercard Introduces A New Cryptocurrency And Blockchain Program For Startups

Mastercard | July 28, 2021

Mastercard today unveiled a new Start Path global startup engagement programme aimed at assisting fast-growing digital assets, blockchain, and cryptocurrency businesses. As part of Mastercard's digital assets work, seven startups have joined the programme, including GK8, Domain Money, Mintable, SupraOracles, STACS, Taurus, and Uphold, with the goal of expanding and accelerating innovation in digital asset technology and making it safer and easier for people and institutions to buy, spend, and hold cryptocurrencies and digital assets. Mastercard today unveiled a new Start Path global startup engagement programme aimed at assisting fast-growing digital assets, blockchain, an...

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FUNDING

Nium Raises Over $200 Million in Series D Funding

Nium | July 27, 2021

Nium, a leading worldwide B2B payments platform, today announced it has raised a US$200+ million Series D round led by Riverwood Capital – a U.S.- based high-development tech investor. Temasek, Visa, Vertex Ventures, Atinum Group of Funds, Beacon Venture Capital, Rocket Capital Investment, and other notable angel investors, including DoorDash executive, Gokul Rajaram; Chief Product Officer at FIS, Vicky Bindra; and, Co-Founder of Tribe Capital, Arjun Sethi, also contributed to the round. Nium's present valuation is above US$1 billion, making it the main B2B payments unicorn from Southeast Asia. The funding will be used to expand Nium's payments network framework, drive innovati...

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Spotlight

The future of the banking ecosystem will look much different than today and will extend well beyond financial services. There is a unique opportunity to capitalize on the insights banks hold and the innovation that they can build, buy or collaborate with to become the centre of a consumer’s ev

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