Hi fintech friends, I'm Osborne, Principal at EMVC!
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).
Merry Christmas, Happy Holidays, Happy New Year! Whatever you celebrate, may you have a relaxed end to the year and a super productive new year. See you in 2024!
Note: Will resume regular programming on 13th Jan, 2024.
🧐🏆 Posts of the Week
I have no gripe about those folks who give personal finance YT classes/ads. But I would like to know whether behavioral aspects of finance are talked about in such classes. Because the 1st lesson is to reduce impulse purchases on seeing click-baity ads, such as the class itself.— Adithya Bharadwaj (@AdithyaBha) December 17, 2023
It’s just dawning on Indian Fintech that maybe the bankers weren’t slow and rigid after all.
They were just meticulous and meeting RBI’s regulations.— Amrish Rau (@amrishrau) December 21, 2023
India stock market investor data: NSE (November end)
▪️8.35 crore unique investors vs 6.94 crore last year.
▪️New investor registrations at NSE averaged 13 lakh/month in Apr - Nov period vs 11 lakh/month in FY23.
▪️NSE’s journey from 7 crore to 8 crore unique PANs took just… pic.twitter.com/TqVYnkYfcD— menaka doshi (@menakadoshi) December 22, 2023
The ICICI “Grid Card” security is hands down the winner of the Darwin Award for Highest Friction Customer Experience pic.twitter.com/gLkWWBTBxP— Hrush Bhatt (@hrushb) December 21, 2023
TIL that even redemption wont cancel a SIP Mandate. What an absurd system. https://t.co/QKs2elNsjW— kuldeep (@ku1deep) December 19, 2023
(Note: Neither TWIF nor I endorse any views in the tweets highlighted above.)
📈 Chart of the Week
Source: X/John Piazza
🇮🇳 India
📰 Market Updates
🚀 Product Launches
PayCraftpartnered withNSDL Payments Bank to launch a transit card.
📝 Regulatory Updates
RBI (central bank): Approved Razorpay, Cashfree, Enkash and Google Pay to operate as payment aggregators. Released preliminary framework for self regulatory organisations of Banks and NBFC's. Introduced card-on-file tokenisation through card issuing banks.
💰 Financing Announcements
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🌏 Asia
📰 Market Updates
Mastercardpartnered withJakarta's transit system to launch cashless payments for MRT commuters.
Bank Mandiri's, an Indonesian bank, new CEO aims to transform the bank's digital apps.
Aspire, a Singaporean neo bank, grew its revenue over 2x in FY2022.
💰 Financing Announcements
Home Credit Indonesia, an Indonesian unsecured credit startup, raised $100mm.
ACQUISITIONS:
Sumitomo Life Insurance of Japan acquired 35% of Singlife, a Singaporean insurer for $1.2bn and offered to acquire the entire business for $3.5bn.
🌏 International
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Bonus! Sending you a postcard from Goa :)
I'd love to see pictures of where you're unwinding to end the year. Do send it in replies :)
If you’ve made it this far - thanks! As always, you can always reach me at [email protected]. I’d genuinely appreciate any and all feedback. If you liked what you read, please consider sharing or subscribing.
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