FACE

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Fintech firms expect business as usual by July, says FACE survey

The second wave of the Covid-19 pandemic may not be as devastating for financial technology (fintech) firms as the first wave, revealed survey of top 20 firms by the Fintech Association for Consumer Empowerment (FACE)...

About 45% fintech lenders see no impact of Covid-19 second wave on loan disbursements

About 45 per cent of fintech and digital lenders did not witness any significant impact on business during the second wave of the Covid-19 pandemic, according to a new survey...

Fintech cos say loan collections dip; RBI's recast plan created confusion among customers

Financial technology (fintech) lenders are witnessing a slowdown in loan collections during the second wave of COVID-19, with paybacks for overdue loans being impacted by up to 20 percent...

Expecting fintech businesses to reach its usual pace by July, says FACE

"It is interesting to note that the Covid-19 impact is different this time, compared to the same situation last year. While most players expected business to normalise by July, some aspects of the business are expected to be impacted”...

We acted swiftly to pull down illegal Chinese digital lending apps: Fintech association

The Fintech Association for Consumer Empowerment (FACE) is working hard to usher in fair and transparent digital lending practices, says founding member Akshay Mehrotra. He lists the steps taken by the FACE to gain consumer...

Fintech Is Future

The fintech revolution sweeping the country, which received a massive boost as a result of the technology adoption to ride out the disruption caused by Covid, is set to intensify further and become the key catalyst as India looks to fast-track its economic growth in a cost-effective but inclusive manner...

How To Tackle Digital Lending Frauds While Using Personal Loan Apps

India has always suffered from the lack of availability of a structured credit disbursal system that serves all rungs of society. Earlier, the non-availability of institutional credit to people belonging to certain sections of society...

Digital lending: Now more than ever we need fintechs to democratise credit, uplift livelihoods

The digital innovation India has made so far is here to stay. It needs adoption into commercial application to deepen the financial inclusion net...

Debt trap: Inside the world of shady digital lending apps, which promise a loan in a minute

Experts who have been tracking this space say that unlike legitimate entities, which use escrow accounts to disburse loans, the illegitimate ones prefer peer-to-peer money transfer apps...

Here's how you can choose genuine digital lender

While taking loans, it is important to choose a genuine digital lender and not fall for fake apps. The consequences of unscrupulous practices of few illegitimate lending apps have called for educating oneself enough ...

Redefining Digital Lending Market With Technology

The concept of payment has also completely changed; the demand for digital wallets has increased because people prefer cashless payment in comparison to cash payments or paying via debit or credit cards....

Re-Energising India With Digital Drive

The FinTech Association for Consumer Empowerment (FACE) is a not-for-profit industry association committed to build a robust FinTech ecosystem in India. The association aims to drive ethical lending practices ...

Top FinTech Leaders Announces Ambition to Empower Consumer Finance With the Launch of - FinTech Association for Consumer Empowerment FACE

The FinTech Association for Consumer Empowerment (FACE) was officially launched on 1st October to promote a robust, diverse and inclusive...

Decoding Security Guidelines For Digital Consumers

Fintech companies are stepping in and focusing on emerging technologies to identify the emergence of security and preventive measures to avoid frauds....

Fintech Association for Consumer Empowerment Publishes the Ethical Code of Conduct

FACE is a registered not-for-profit industry association formed by Fintech leaders with an intention to support...

Digital lending in India: The year that was and the year that will be

COVID has woken up the industry to the tremendous potential of digital transformation. With the increasing customer demand for contactless processes...

Digital loan apps: The new digital monsters

The Fintech Association for Consumer Empowerment (FACE) broadcasted the ‘Ethical Code of Conduct to encourage finest systems in digital lending and to protect consumer privileges and welfares....

RBI forms panel on digital lending including lending through online platforms, mobile apps

Considering the importance of digital lending towards the financial inclusion in the Indian economy on one hand, and the regulations and best practices...

RBI sets up working group to regulate e-platforms, apps offering credit and promote digital lending

The move is aimed at regulating the sector, which has seen a large number of online lending platforms, majority startups, cropping up in the recent ...

Google acting like super regulator and seeking details even RBI doesn’t ask for, allege Indian fintech lenders

In a letter to tech giant Google, Indan fintech lenders mentioned the names of Chinese apps that have 7-14-day products while its rules of not allowing lenders giving short-tenure loans of less than 60 days....

India’s Digital Lenders Take On Google Play Store Over Loan App Crackdown

After Google reportedly took down over 500 lending apps from the Google Play Store in India, digital lending companies and bodies representing fintech companies have approached Google over the new policies for publishers of such apps....

Google is acting like a ‘super-regulator’ says Indian fintech lenders

Google reviewed hundreds of money loan apps from its online Play Store in India, and immediately removed those who were found breaching user safety policies from the Play Store. The Reserve Bank of India (RBI) had ordered Google to take them off the app store....

Even RBI doesn't seek such details: Fintech leaders accuse Google of acting like super-regulator

Goggle’s directives to provide credentials have not gone down well with Indian fintech lenders....

RBI to crack whip on recovery agents, calls for restricting messaging apps

The Reserve Bank of India’s (RBI’s) working group on digital lending is expected to recommend measures to rein in excesses by recovery agents...

Instant Trap of Unsecured Loans

The unregulated part of the industry is a dark, roiling sea. Its source of capital is unknown. And they are clearly classifiable as moneylenders - with all the attendant evil....

Asian authorities crack down on digital lenders

Asian authorities are cracking down on digital lenders and stepping up to conquer the less-supervised sectors of credit-hungry powers such as India and Indonesia...

COVID Proves To Be A Turning Point In Fintech Space

New-age fintech players have given rise to high-impact financial solutions, earning a leading edge over their peers in the post-Covid-19 market...

India and Indonesia to See Regulatory Crackdown on Digital Lenders

Officials are looking particularly into India and Indonesia, due to their “credit-hungry” large economies...