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Context is everything.
Detailed stories on technology startups, business and economic current affairs.
Detailed stories on technology startups, business and economic current affairs.
One of the poster children of digital banking globally, the UK-based fintech unicorn’s India entry last month raises some big questions.
Banking in India is a cutthroat market, with well-entrenched incumbents. New York-headquartered Citibank just last month announced it will be exiting its consumer banking business here after more than three decades of operations. A week later, South Africa’s second-largest bank, FirstRand Bank, told its employees in India that it would also be pulling out, according to The Economic Times.
That hasn’t stopped a slew of fintech startups from launching as neobanks—a somewhat nebulous term referring to banking led by digital operations.
And now, they’re joined by one of the biggest neobanks in the world, Revolut, which announced that it was …
A local fintech deal to consolidate operations, feedback on Saudi Arabia’s proposed IPO rules, and Ras Al Khaimah’s casino economy.
Billionaire Mohamed Alabbar goes for the Indian Ocean archipelago, India’s PhonePe gets UAE approval, and other updates from the week.
The newly announced levy on UPI payments undermines the very foundation of using digital payments for stock market investing. Brokers are in a tizzy.
