Comviva introduces Digital Services Delivery Platform for Banking Industry

 

Comviva, the global leader in providing mobility solutions, today introduced the new generation Digital Services Delivery Platform (DSDP) for banking industry. The platform empowers banks to offer diverse digital content services and create super app to deliver best possible experience for customers. The solution also allows banks to provide hyper-personalized experience through customized price bundles, content, and service offerings.

Comviva's DSDP Banking suite offers advanced digital capabilities for both banks and its customers. Customers can subscribe and discover hassle free services across multiple genres such as entertainment, travel, food, education, fitness etc. in just few clicks. Banks can build, manage, optimize and deliver the subscription services through seamless integration with multiple partners using its Subscription Lifecycle Management capabilities on the same infrastructure.This significantly reduces operational costs and service procurement timelines while driving customer analytics and simplifying partner management. It further provides a robust and agile framework for continuous innovation and digital service delivery.

"Comviva's DSDP is a next-gen platform for Banks to offer  digital services and  comes with rich set of capabilities to explore and realize new opportunities arising out of digital without exposing them to risks or escalating costs. The platform has a robust roadmap to ensure that it remains ahead of market needs and business requirements," further added Manish.

By deploying the DSDP Banking suite, Banks  are able to manage all available subscription plans via a common interface. Also, banks will be able to launch these plans in real-time without experiencing network downtime. Banks can offer flexible discount plans, based on the subscriber's usage patterns. The platform is flexible to configure various  nodes as per the bank requirements. The platform also enables partner management capability that ensures smooth onboarding of different partners and manage their lifecycle, reconciliation and settlement.

Its future ready, micro services based, cloud ready multi-tenant architecture provides a common role based interface for accessing different capabilities of the platform invariably making it a Capabilities as a Service (CaaS) Platform. The micro services are made available in the form of open APIs for consuming these platform capabilities. The architecture supports API security and multilevel API response along with web-based reporting tool.

Financial News Bureau

Consumer and Personal Loans Bolstered Fintech Lending in FY 2021 - Equifax SIDBI Fintech Pulse

SIDBI and Equifax launched the second edition of "Fintech Pulse", a quarterly publication highlighting key trends of the fast growing NBFC (Non- Banking Financial Company) Fintech segment.

"Fintech Pulse" aims to provide insights on trends in the Indian Fintech industry - from disbursements to delinquencies to top growing states and top loan categories.

Key highlights:

•  Consumer and Personal Loans continue to be strong for NBFC-Fintechs with 87% share in active loans

•  There is a 38% increase in outstanding portfolios value year on year, with personal loans growing while business loans showing a decline in value

•  Despite growing, consumer and personal loans have seen average ticket sizes come down by more than 40%, to less than INR 9000

•  Disbursements for personal loans are down 71% year on year

•  In overall industry, NBFC-Fintechs have market share of 2.44% in business loans by number of active loans and 1.2% by portfolio outstanding

•  Business loan disbursements by all lender types declined post pandemic began, but started recovering from Apr-June 2020 quarter for Public Sector Banks

•  90+ delinquencies for business loans by NBFC-Fintechs deteriorated YoY

•  Top 5 states contributing 50% of total loans disbursed by Fintechs were Uttar Pradesh, Maharashtra, Delhi, Gujarat and Rajasthan

On the launch, Shri V. Satya Venkata Rao, Deputy Managing Director, SIDBI said, "Fintech Lending has changed the approach of credit delivery in India through Innovative products and real time solutions. The industry has witnessed 38% YoY growth as on Sep'20, despite COVID pandemic. As we move in new normal, the Fintech Lending industry will play a crucial role in delivering credit to last mile borrowers. I hope the Fintech Pulse will provide key insights to stakeholders."

About Equifax

At Equifax (NYSE: EFX), we believe knowledge drives progress. As a global data, analytics, and technology company, we play an essential role in the global economy by helping financial institutions, companies, employees, and government agencies make critical decisions with greater confidence. Our unique blend of differentiated data, analytics, and cloud technology drives insights to power decisions to move people forward. Headquartered in Atlanta and supported by more than 11,000 employees worldwide, Equifax operates or has investments in 25 countries in North America, Central and South America, Europe, and the Asia Pacific region. For more information, visit Equifax.com


About SIDBI

Small Industries Development Bank of India has been established under an Act of the Parliament in 1990. SIDBI is mandated to serve as the Principal Financial Institution for executing the triple agenda of promotion, financing and development of the Micro, Small and Medium Enterprises (MSME sector) and co-ordination of the functions of the various Institutions engaged in similar activities. Over the years, through its various financial and developmental measures, the Bank has touched the lives of people across various strata of the society, impacted enterprises over the entire MSME spectrum and engaged with many credible institutions in the MSME ecosystem. Under Vision 2.0, SIDBI has spearheaded various Initiatives to address the Information Asymmetry in MSME sector like 'MSME Pulse', the health tracker of MSMEs and 'CriSidEx', for gauging the MSE sentiments & aspirations and 'Fintech Pulse', for credit data insights on Fintech lending segment, 'Microfinance Pulse', insight report on Microfinance sector and 'Industry Spotlight', a comprehensive report on major industry sectors.

Financial News Bureau

HDFC Bank Invites Start-ups to Apply for SmartUp Grants

•  To focus on start-ups in ed-tech, skill development sectors creating social impact

•  Partners with nine premier incubators to screen, mentor & monitor start-ups

​HDFC Bank is inviting applications from start-ups and solo entrepreneurs for its SmartUp grants. SmartUp grants by HDFC Bank under #Parivartan – the bank’s umbrella CSR brand – is aimed at finding and deploying long-term, sustainable solutions at scale, to address social issues and contribute to the economic and social development of the country.
 
This year, the bank will focus on start-ups creating social impact at scale in sectors such as education – technology (ed-tech) and skill development, among others.
 
To screen, mentor, and monitor start-ups, HDFC Bank has partnered with nine start-up incubators registered with the Govt of India’s MeitYplatfrom. The nine incubators are from premier institutes and include IIT – Delhi, IIT – BHU, AIC BIMTECH Noida, IIM Kashipur, GUSEC Gujarat, C-CAMP Bangalore, Banasthali University – Jaipur, Villgro Incubation – Chennai, and T – HUB Hyderabad.
 
How to apply and process:

1.  Start-ups making a social impact can send in their applications by clicking here. The application window opens today and closes on Feb 16, 2021.

2.  Further, the bank’s incubator partners and the SmartUp team will jointly scout for start-ups.

3.  Bank and incubators will jointly reach out and engage with start-ups through the SmartUp portal hosted on the Ministry of Electronics and Information Technology (MeitY's) platform

4.  Incubator partners will screen and shortlist applications and the SmartUp team will select finalists.

5.  Finalists will pitch their start-ups to a jury comprising senior Management of the Bank.

 
Evaluation criteria:

1.  Market reach, penetration and scalability of the product

2.  Degree of social impact in beneficiaries’ lives

3.  Economic viability of product at scale

“We begin the new decade with a renewed focus to enable and nurture social sector start-ups,” said Ms. Smita Bhagat, Country Head – Government, E-commerce and Start-ups, HDFC Bank. “Our partnership with incubators will mentor the winners to scale up their ideas. Enterprises working in the social sector are doing commendable work in changing the lives of millions of Indians. SmartUp grants is one way of offering our support and encouragement in this journey. We want to be a pillar of support for social entrepreneurs who want to bring a positive change to the society.”

For information please log on to www.hdfcbank.com/csr 

Financial News Bureau

BW Festival of Fintech: A Comprehensive Fintech Colloquy

 

Business World’s Festival of Fintech is a two-day informative summit that will inform, illustrate and recognize the changes in the dynamic Fintech industry.

 

Business World brings forth Festival of Fintech, an exclusive conclave on Fintech innovation and growth on the 12th and 13th of February 2021. The event will include expert panels and an industry award ceremony that recognizes excellence in all the ambits of the Fintech field. 

 

The event will serve as a horizon for industry experts, leaders, service providers, government bodies, financial institutions, consultants, enablers, entrepreneurs, enthusiasts and other stakeholders alike. The panels with comprise an array of experience and insights on topics ranging from the challenges, the advantages, regulatory compliances, banking infrastructure, lending ecosystem, security concerns, retail transactions and the future that lies ahead for Fintech. The eminent speakers who will inform the panels include- Rashmi Mohanty- Interim CEO and Group CFO of Clix, Nitya Sharma- Co-Founder and CEO of Simpl, Madhusudan Ekambaram- Co-Founder and CEO of KreditBee, Ganesh Rengaswamy Co-Founder of Quona Capital, Charles d’Haussy, Director of ConsenSys, Arun Nayyar CEO of NeoGrowth Credit, Yogi Sadana CEO of CASHe, Sharat Chandra Chapter President of GBA, Satyam Kumar- Loan Tap’s CEO and Co-Founder, Samant Sikka- Founder of Sqrrl, Shivpriya Nanda- Partner at JSA Advocates, Nitin Vyakaranam CEO and Founder of Artha Yantra Corp, Subramanya SV Co-founder and CEO of Fishdom, Panagiotis Kriaris who leads Unzer group’s Business Development and Media Mogul Dr Annurag Batra- Chairman and editor in chief of exchange4media and Business World.  

 

The industry awards ceremony will honour and highlight the exceptional achievers and companies in the field. The distinguished jury will be presided by M Damodaran, Chairperson of Excellence Enablers Pvt who will lead an illustrious company that includes the likes of- S Ravi- Chairman and Director of Tourism Finance Corporation of India Ltd, Dr Emandi Sankara Rao-MD and CEO of IFCI, Sanjeev Aggarwal Senior MD and Co-founder of Helion Ventures, Girish Kulkarni MD and CEO of Star Union Dai-ichi Life Insurance, Ninad Karpe- partner at 100X.VC, Anjali Bhansal Founder of Avaana Capital, Srinath Sridharan who is a member of the Governing Council for Fintech Association for Consumer Empowerment, Rajan Mehra-a partner at March Venture Advisors, Pravir Vohra ICICI Bank’s Former President and Group CTO and the Chairman and Editor-in-chief of BW-Dr Annurag Batra.

 

The nominations for the awards are now live on bwevents.co.in/bw/FinTech/

Business World aims to host all facets of the leadership of the dynamic innovation landscape of the Fintech industry that makes contributions to sustainable economic development. It will track the developments of the Fintech industry as it changes the course of the financial world and delivers novel alternatives to traditional methodologies.  

 

For partnership, queries reach out to Talees Rizvi- talees.rizvi@businessworld.in. (+91 9310634007)

 

For speaking opportunities contact Devika Kundu Sengupta who can be found at devika@businessworld.in (+91 9871654991)