India's fintech sector has surged over the past few years, with deal value reaching $2 billion in 2018. India now has more than 2,000 fintech startups, compared to less than 750 in 2014. Most Indian fintech startups are in the payments and lending segments, a boon for the subcontinent's under-banked population. Given the importance of fintech to financial inclusion in India, Delhi is preparing to launch a regulatory sandbox that would ensure that the industry develops stably. In late March, Reserve Bank of India (RBI) governor Shaktikanta Das said that the RBI would publish the guidelines for the creation of a fintech regulatory sandbox in the next two months.
In 2017, the Chinese smartphone market saw its first ever decline, with -4% YoY growth in smartphone shipments and -4.9% YoY growth in smartphone sales.
Profit at China's Big Five banks is declining as the popularity of internet banks such as WeBank grows. Can China's banks find their place in the new fintech world?
With the craze surrounding Bitcoin, many are concerned that the crypotcurrency’s price is over valued and a result of too much hype. However, Blockchain, the technology behind Bitcoin, is captivating the attention of many and is widely regarded as the future of technology. So much so in fact, many countries have already launched or begun looking into the possibility of creating their own Blockchain based, state sponsored cryptocurrencies.
With Bitcoin recently hitting an all- time high of $14,000 USD on December 7th 2017, many have been asking questions about whether the cryptocurrency’s price will continue to rise in the future or if it is simply a speculative bubble waiting to burst. The currency has risen by over $13,000 USD since the 1st of January 2017, a remarkable, and for some unfathomable surge considering it has no tangible assets or value at its core.
The Financial services sector is integrating AI (artificial intelligence), machine learning and predictive analytics at a remarkable rate for both customer-facing and back-end operations. One element commonly associated with AI, but one that has not yet made a strong impact, are ‘chatbots,’ computer programs designed to simulate conversation with human users. However, this could be about to change, with large financial institutions starting to experiment and launch products leveraging AI technology.
The Indian central bank, the Reserve Bank of India (RBI) is considering the possibility of introducing a fiat cryptocurrency in the country.
Anti-money laundering activities are taking the center stage in Indian financial markets. The recent crackdown on shell companies, and brokerages helping them, by the Securities and Exchange Board of India (SEBI) is part of a concerted effort by the Government to clean up the financial markets in India.
Hike messenger, a popular phone messaging service app in India, has recently decided to introduce payment services on its platform.
Government reforms have had contrasting effect on the securitization and corporate debt markets in India. Significant issues such as the high level of bad loans at public sector banks, bankruptcy laws which were not conducive to recovery of non-performing assets (NPAs), securitization of debt and the need to boost the corporate debt market, go hand in hand in India.