BANKSATHI
Fintechs leverage AI to boost creditworthiness and reduce rejections
Fintech startups are leveraging AI to help borrowers improve their creditworthiness and reduce loan application rejections. Companies like BankSathi, GoodScore, and Credgenics are offering AI-led advisory services, addressing a significant demand, especially from smaller cities. While AI automates much of the process, manual intervention remains crucial for resolving defaults with lenders.
Can AI fix your credit score? Krutrim shuts down assistant Kruti
Happy Thursday! Fintechs are building AI solutions to help boost the creditworthiness of borrowers. This and more in today’s ETtech Morning Dispatch.
InsuranceDekho in talks to acquire credit marketplace BankSathi: sources
Insurance marketplace InsuranceDekho, backed by investors like TVS Capital and Goldman Sachs Asset Management, will acquire a majority stake in BankSathi, which is a distributor of credit cards and personal loans, two people in the know said.
Stock brokers push lending; InsuranceDekho’s latest acquisition
Happy Tuesday! Tech-first broking companies are looking to diversify into the credit business to build a larger financial services play. This and more in today’s ETtech Morning Dispatch.
Credit card payment rule change: Can you change credit card billing cycle, due date multiple times now? What RBI says
Credit card billing new rule: The Reserve Bank of India (RBI) has tweaked its guidelines for credit cards to allow for more flexibility to the customers. This means more control over your billing cycle, the period between your credit card statements. It is important to set your billing cycle in a way that you can pay your credit card bill without any difficulty. Can you choose or change your credit card billing cycle and due date? Know what RBI latest guidelines say
BankSathi emerges as India’s third-largest credit card issuer, reinforces commitment to financial innovation
BankSathi, a fintech startup, has become the third-largest credit card issuer in India with 3.6 lakh Annual Run Rate of card issuance. The company has issued 3 lakh credit cards as of June 2023, a fourfold increase from the previous fiscal year. The credit card industry in India is expected to grow at a 25% compound annual growth rate and reach 20 crore credit cards by 2026. BankSathi has achieved this milestone by leveraging algorithms and data analytics to provide personalized recommendations and by offering fast credit card approvals within 30 minutes. The company plans to close this financial year with 6 lakh credit card ARR to become the largest credit card issuer in India.
- Go To Page 1
Govt may seek deals for India-made chips; Google denied relief on second CCI order
Discussions are likely to be held with countries that don’t have extensive semiconductor manufacturing capacities and currently procure chips from nations such as China and Taiwan.
Kotak Securities invests Rs 5 crore in fintech startup Banksathi
The funding round also saw Letsventure, Wefoundercircle, Hem Securities and Inflexion Point Ventures collectively pumping in $4 million into the startup backed by Cred, the official said.
Fintech firm BankSathi raises $4 million as Pre-series A round
BankSathi is a social commerce fintech platform to empower consumers' financial life by providing right financial products access to last mile users.
India Inc is doubling down on senior hires in compliance, risk & legal to stay on top of rulebooks
Companies across the banking, financial services and insurance, and fintech sectors are ramping up their risk and compliance functions with senior-level hiring to guide them through a dynamic regulatory environment.
By blending technology and human interaction, BankSathi is taking fintech to India’s hinterlands
For fintech to be successful it has to make a mark in smaller cities and towns of India or else it runs the risk of being relegated to a medium for the digitally savvy and financially well-off.
Kunal Shah backed BankSathi adds 3 Indian languages to bring financial inclusion to its 30 lakh users
To break the language barrier in financial inclusion as it's becoming multilingual, BankSathi customers from tier-2 and beyond can have the comfort of speaking with someone in their own language and understanding fintech products, which may otherwise appear confusing and intimidating.
Festive fervour back in corporate India, companies celebrating festivals in physical mode
Several companies such as EY, Myntra and The Good Glamm are planning employee gifts centred around wellness, flexi-time and recharge leaves.
Load More
