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It sounds like a surefire bet. You lend money to a borrower who puts up collateral that exceeds the size of the loan, and then you earn interest of about 20%. What could possibly go wrong?
MUMBAI (Reuters) - The Reserve Bank of India said on Wednesday it had formed a working group to look into digital lending practices, following reports of policy violations and borrower harassment by several digital lending apps in India.
MUMBAI (Reuters) - Alphabet Inc's Google has removed some lending apps aimed at consumers in India from Play Store in an attempt to safeguard users, it said in a blog post on Thursday.
Apple Inc pitches its new card as a model of simplicity and transparency, upending everything consumers think about credit cards.
Mitsubishi UFJ Financial Group Inc is investing more than US$700mil (RM2.93bil) in South-East Asian ride-hailing giant Grab. It’s a three-way deal in which everyone gets what they currently lack.
JPDP said the six apps have been found to have accessed and copied its users information, including personal data that are not related to the loan application, without their permission.
In the corporate world, rapid growth comes at a cost. Deals with the devil always do.
China's banking regulator unveiled aggressive measures to restrain the country's fast expanding peer-to-peer (P2P) lending sector on Aug 24, warning that almost half of the 4,000-odd online lending platforms are "problematic".
The potential for abuse is growing in financial industries such as online lending, where technology is replacing traditional safeguards, the top lawyer in the US Department of Justice's criminal unit said.
Hoping to link with tech entrepreneurs and get ahead of a wave of digital innovation, Europe's top banks are setting up multi-million dollar investment funds, hiring scouts in Silicon Valley and hosting "speed dating" sessions.