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The Journey of Payments and Clearing Systems in India

Finextra

Indigenous Banking (Shroffs and Mahajans): Long before modern banks, India had a thriving indigenous banking system. These banks introduced formal ledger-based accounting and cheque payments. This was a significant step towards non-cash payments but was slow and prone to errors.

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A List of Digital Banks in Asia

Fintech News

Are digital first banks in Asia poised to lead a disruptive charge against well-entrenched, established commercial banks? In the traditional banking sphere globally, but especially true in Asia, there is a considerable proportion of unbanked and underbanked populations who lack complete or any access to banking services.

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Everything You Need To Know About What Amazon Is Doing In Financial Services

CB Insights

If Amazon can get you lower-debt payments or give you a bank account, you’ll buy more stuff on Amazon.”. Based on our findings, it’s hard to claim that Amazon is building the next-generation bank. In aggregate, these product development and investment decisions reveal that Amazon isn’t building a traditional bank that serves everyone.

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Lending Club’s Terrible Twos

PYMNTS

Lending Club’s model does not need bank branches on each street corner, and it can turn around in minutes and hours, not days. I crossed paths with Laplanche back in 2007 and wanted to back him right away,” Petrushka said. banks at the time. banks at the time. IPO of the year.

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Happy 10th Anniversary iPhone

PYMNTS

That is how the world first met the iPhone a little over ten years ago in January 2007, when Steve Jobs took to the stage to announce Apple’s latest and greatest innovation. And on June 29, 2007, we finally got it. The gig economy, which was largely non-existent a decade ago, now employs 4.1 And we are calling it iPhone.”.

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Why The ICBA Is Fighting Industrial Loan Charters For FinTechs

PYMNTS

ILCs are used to form industrial loan companies, better known as industrial banks. An industrial bank is an FDIC-insured depository institution that is generally subject to the same banking laws and regulations as any other bank charter type, with the important exception of the Bank Holding Act of 1956.

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Foot In Mouth: 43 Quotes From Big Corporate Execs Who Laughed Off Disruption When It Hit

CB Insights

Perhaps the most glaring example of the tendency to dismiss innovative new players was when Apple’s iPhone hit the market in 2007. Sometimes disruption is staring you right in the face and you can’t help but look the other way. That’s doubly true when you’re the head of a legacy business desperate to stay relevant. Fully subsidized?

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