Hi fintech friends, Osborne here!

Please enjoy all the news and updates from the past week in today’s edition. If you feel TWIF brings you value, please share it with your friends (and maybe suggest they subscribe too).

Note: there will not be an edition of TWIF Asia next week. We will resume regular programming on 23rd Sept, 2023.

✨ Falcon presents Mumbai Fintech Happy Hour

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🐦🏆 Tweets of the Week

(Note: Neither TWIF nor I endorse any views in the tweets highlighted above.)

🇮🇳 India

📰 Market Updates

1. RBI's Governor urged fintech startups to launch a self regulatory organisation.
2. HDFC Bank's personal loan segment grew 32% YoY after the merger with HDFC Ltd.
3. IRDAI's (insurance regulator) Chairperson said for the size of India's population, the number of insurers in the country is "grossly inadequate".
4. SEBI (securities regulator) was quoted saying the regulator could be ready with technology to power 1-hour settlement cycles.
5. Zerodha filed two mutual fund schemes with SEBI (securities regulator).
6. Paytm reportedly grew its monthly active users by 20% to 94mm users.
7. Fintech startups are expected to generate $190bn in revenue by 2030, according to a report by BCG and Matrix Partners. The industry's revenue was $17bn in 2022.
8. Groww received SEBI approval to launch its first mutual fund scheme.

🚀 Product Launches

1. Paytm launched Paytm Card Sound Box for card payments and QR based payments.
2. PineLabs launched Mini, a QR device with card acceptance for SME's.
3. Shivalik Small Finance Bank partnered with Falcon, to launch various digital products for small businesses.
4. PayU launched CommercePro, a set of commerce and payments tools for small businesses.
5. YES Bank launched interoperability between CBDC and UPI.
6. ToneTag, a sound based payments company, launched payments through cars and conversational payments.
7. NPCI launched a UPI-based, cardless ATM cash withdrawal feature.
8. NPCI launched UPI Lite X, an NFC based offline payments product, and Hello UPI, a conversational payments product.
9. Gullak, an investments startup, partnered with Juspay, to launch the UPI SDK.
10. Aartiya Tech launched an F&O trading product.
11. Thomas Cook partnered with Card91 to launch a multicurrency forex card.

💰 Financing Announcements

1. Brine Fi, a crypto exchange startup, raised $16.5mm at $100mm valuation.

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🌏 Asia

📰 Market Updates

1. The central banks of Cambodia and Lao PDR, integrated QR based payments interfaces between the two countries.
2. Grab launched a web3 crypto wallet for its users in Singapore.
3. GXBank, the Grab digital bank, launched in Malaysia
4. Robocash Group, a Singaporean lending company, rebranded to UnaFinancial.
5. Nium joined the FAST and PayNow payments platforms of Singapore for real time payments.
6. Hana Bank, a South Korean bank, partnered with BitGo to launch crypto custody services.
7. Ravi Menon will retire from MAS, Singapore's central bank, and Mr. Chia Der Jiun will take over as Managing Director.
8. AliPay+ launched its cross border payments app in Philippines.

💰 Financing Announcements

1. Certa, a compliance and risk management platform, raised $35mm.
2. Saladin, a Vietnamese insurance distribution startup, raised an undisclosed amount.
3. F88, a Vietnamese fintech startup, closed $50mm (debt)

ACQUISITIONS:

1. NEC, a Japanese electronics company, acquired 50.1% of Japan Asset Management, a Japanese asset management startup.

🌏 International

Please find our global coverage and consider subscribing.

• US and Global, written by Nik Milanovic.
• Europe and UK, written by Michael Jenkins.
• Latin America, written by Christine Chang.
• Africa, written by Emeka Ajene.
• China written by Ning Ye.
• Policy written by Mohammad Hamdy.

And of course, our podcast series - Beyond Two Percent and Hey Fintech Friends.

If you’ve made it this far - thanks! As always, you can always reach me at osborne@thisweekinfintech.com. I’d genuinely appreciate any and all feedback. If you liked what you read, please consider sharing or subscribing.

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