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<ul><li><keyword id="864887" type="COMPANY" weightage="20" keywordseo="Pepperfry">Pepperfry</keyword> has partnered with <keyword id="1865968" type="COMPANY" weightage="20" keywordseo="BankBazaar">Bankbazaar</keyword> to offer <keyword id="6362287" type="UNKNOWN" weightage="20" keywordseo="loans">loans</keyword> for home refurbishing. </li><li>Users will have to head to Studio Pepperfry and apply for a loan. </li><li>Earlier this year, the startup had also introduced gift registry. </li></ul>India’s home-furnishing retail startup Pepperfry has partnered with Bankbazaar to offer loans on home renovation. With this partnership, users looking to renovate their house can head to Studio Pepperfry and apply for a loan. Studio Pepperfry is the online startup’s offline experience store. “Through the introduction of this easy credit facility, we will help our customers furnish and renovate their homes in a seamless way. Our partnership with BankBazaar, a leading personal finance marketplace, helps provide multiple home upgradation loan options from various leading banks in India,” said Mihir Kulkarni, Head – Studio Innovation, Pepperfry. Earlier in February, Pepperfry had also announced its gift registry, where users can create a registry, add the products to their list and then share the registry with friends and family, who can then buy these products. Pepperfry had last raised a funding of $38.5 million in March 2018. According to reports, the company is also looking at raising another $100 million this year. See Also: <a href="https://www.businessinsider.in/after-amazon-pepperfry-launches-wedding-gift-registry-on-its-platform/articleshow/68171208.cms">Indian e-tailers want you to choose the presents that your friends will pay for</a> <a href="https://www.businessinsider.in/pepperfry-to-ipo-soon-this-investor-says-yes/articleshow/68740748.cms">An investor in Pepperfry, India’s largest online furniture retailer, is in no rush to exit</a>

Pepperfry and Bankbazaar are now offering loans to refurbish homes

With advancement in technology and digitisation, almost everything is right on the fingertips. From stock market data to traffic updates or digital payments — mobile applications eased the hassle of keeping a daily check on routine activities. Here are five apps that can manage and track and curb the daily expenses — from pointless shopping to office spends. Mint Mint, previously known as Mint Bills focuses on managing the expenses through reminders on bill payments, and helping with transactions. It maintains the user’s credit score precisely and updates it in real time. In addition to this, the app helps organise daily expenditure in the form of charts and graphs for easy understanding. Moneywise This app lets the user track daily expenses and prepares a budgetary plan accordingly. The budget plan is a way to monitor the cash flow. This includes grocery expenses, transportation and dining out expenses, among others. The app also works without an internet connection. It shows the spending habits in a weekly, monthly, bi-monthly pattern. It lets the user set up alerts for bills and payments. And it can be secured with a passcode. <keyword id="1865968" type="COMPANY" weightage="20" keywordseo="BankBazaar">Bankbazaar</keyword> The app provides you with the ease of availing loans before running out of cash. It lets the user compare and apply for loans and credit cards, instantly. It compares the interest rates on education loans, home loans and others. The app also features gold and silver rates across India and maintains credit scores. Expense Manager The app records a user’s daily expenses and lets them set monthly reminders for bills and payments. It creates a financial calendar of the expenditure against income. It records spending across currencies and sends weekly and monthly records. Monefy Monefy is easiest way to track expenses because of its in a user-friendly interface and graphical representation. The app shows all categories of expense in a coloured chart along with percentage expenditure against them. The user can tap on the specific areas for a detailed review of the spending. It works for multiple currencies and can be synchronised with cloud storage — <keyword id="6412891" type="UNKNOWN" weightage="20" keywordseo="google-drive">Google Drive</keyword>, Dropbox etc.

Keep a track of the last Rupee in your account with these five mobile apps

<keyword id="817163" type="UNKNOWN" weightage="100" keywordseo="Retail-lending">Retail lending</keyword>, the <keyword id="1088552" type="UNKNOWN" weightage="100" keywordseo="Loan-against-property">loan against property</keyword> and <keyword id="6387037" type="UNKNOWN" weightage="100" keywordseo="credit-cards">credit cards</keyword> along with unsecured small value <a href="http://www.businessinsider.in/small-business/finance/Alternative-Lending-vs-traditional-banks/articleshow/52505560.cms">business loans </a>etc, has seen a boom lately. This boom has not only helped banks grow their credit portfolio but has also given a major boost to fintech companies in the lending space. 
 
Now that the banks are trying to reach out to as many customers as possible for their credit products, these technology companies are also using their customer assessment capabilities, coupled with superior reach through online means, so that they can expand the consumer base of banks and NBFCs (non-banking finance companies), while charging them accordingly. 
 
Also read: <a href="http://www.businessinsider.in/This-Startup-is-disrupting-the-lending-space-by-providing-free-consumer-services/articleshow/54168160.cms">This Startup is disrupting the lending space by providing free consumer services</a> 
 The personal loan portfolio of banks has seen a 12% year-on-year growth, which has made companies like <keyword id="3173139" type="UNKNOWN" weightage="100" keywordseo="Rubique">Rubique</keyword>, CoinTribe, Paisabazaar and <a href="http://www.businessinsider.in/small-business/finance/now-you-can-calculate-your-credit-score-for-free-with-bankbazaar/articleshow/56797127.cms">BankBazaar </a>expanding their businesses. 
 
"We had done disbursals worth Rs 250 crore last year and that went up by four times to Rs 1,000 crore this year, and we hope to increase it by Rs 2,000 crore for the coming year," said Rubique founder Manavjeet Singh. 
 
Also read: <a href="http://www.businessinsider.in/markets/Unsecured-retail-lending-is-rising-in-private-banks-and-this-could-be-dangerous/articleshow/53429801.cms">Unsecured retail lending is rising in private banks and this could be dangerous</a> 
 
With these digital platforms, customers find it easy to access small-value credit products for consumption, and not to forget unsecured business purposes. However, there are several roadblocks that prevent these companies from realising their full potential. 
 "We get around 17 million visitors on our website checking credit products and checking their eligibility, but only 1-2 per cent of these applications actually convert into disbursals for us because the maximum drop-off takes place in the last leg of the application which still has to be done physically," <keyword id="1865968" type="COMPANY" weightage="100" keywordseo="BankBazaar">BankBazaar</keyword> CEO <a href="http://www.businessinsider.in/do-you-have-a-home-loan-heres-how-to-make-the-most-of-low-interest-rates/articleshow/57755610.cms">Adhil Shetty </a>told <a href="http://economictimes.indiatimes.com/industry/banking/finance/banking/fintech-companies-cash-in-on-retail-lending-boom/articleshow/58139751.cms">ET</a>. 
 
(Image source PublishYourArticles)

Fintech companies taking advantage of boom in retail lending

Online financial marketplace <keyword id="1865968" type="COMPANY" weightage="80" keywordseo="BankBazaar">BankBazaar</keyword>.com today raised Rs 375 crore ($60 million) in its series C round of <keyword id="6357455" type="EVENT" weightage="60" keywordseo="Funding">funding</keyword> led by Amazon with participation from Fidelity Growth Partners and <keyword id="2930456" type="UNKNOWN" weightage="80" keywordseo="Mousse-Partners">Mousse Partners</keyword>. Existing investors Sequoia Capital and <keyword id="351709" type="COMPANY" weightage="80" keywordseo="Walden-International">Walden International</keyword> also participated in this round of funding. BankBazaar CEO <keyword id="235472" type="PERSON" weightage="80" keywordseo="Adhil-Shetty">Adhil Shetty</keyword> said: "As the digital <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> in India develops, Amazon will be an important investor in the robust and rapid growth of BankBazaar.” “This investment from Amazon, <keyword id="2930908" type="UNKNOWN" weightage="80" keywordseo="Fidelity-Growth-Partners-Mousse-Partners">Fidelity Growth Partners &amp; Mousse Partners</keyword> reposes faith in our vision and gives us strength to achieve…It will reinforce our leadership in the country’s online financial market place, as we aim to simplify the sourcing of best financial services - be it loans, credit cards and other personal finance products – for consumers,” he said. 

	The company will also invest to upscale its marketing and branding efforts. The capital will be utilized for technology integration, hiring and strengthening partnerships. 
 BankBazaar is also investing heavily on its mobile App. The App delivers a more customized, stable and seamless experience to the consumer. The App, available both on <keyword id="6355645" type="COMPANY" weightage="80" keywordseo="android">Android</keyword> &amp; <keyword id="75489" type="ORGANIZATION" weightage="80" keywordseo="IOS">iOS</keyword> platforms, not only helps consumers get financial products, but also teach them how to manage their finances. 

	The company is increasing the depth of its portfolio offerings and has signed more than 23 bank partners to give the widest range of options to its consumers. 
 <keyword id="6354743" type="COMPANY" weightage="80" keywordseo="Amazon-India">Amazon India</keyword> vice president and country manager, <keyword id="215413" type="PERSON" weightage="80" keywordseo="Amit-Agarwal">Amit Agarwal</keyword> said: “It gives Amazon great confidence that BankBazaar is led by an innovative team of visionaries who lay emphasis on things that matter to customers and have a long term focus. Amazon looks forward to working with them and supporting their growth.” 

	"With the rapidly evolving online consumer segment across categories, we have seen great demand for this platform. We are currently looking to expand the category as we re-invest all earnings in growing the business intelligently," Shetty said. 
 

	The company which started in 2008 with a focus on loans, said that online loan applications across home, personal and auto loans are growing by 90%, compared to 15% growth in offline. 

	 
	(Image: BankBazaar.com)

BankBazaar raises Rs 375 crore of funding via Amazon

<ul><li>According to <keyword id="19899808" type="General" weightage="20" keywordseo="rbi" source="keywords">RBI</keyword>, the <keyword id="19945816" type="General" weightage="20" keywordseo="fintech" source="keywords">Fintech</keyword> <keyword id="881153" type="General" weightage="20" keywordseo="self-regulatory-organisation" source="Orion">self regulatory organisation</keyword> (SRO-FT) would derive its strength from its membership, ensuring that it is truly representative of the <keyword id="6133582" type="General" weightage="20" keywordseo="fintech-sector" source="Orion">fintech sector</keyword>. </li><li>The <keyword id="19901291" type="General" weightage="20" keywordseo="sro" source="keywords">SRO</keyword> model enables a balance between regulation and innovation, which is especially critical in fast-evolving sectors such as fintech. </li><li>The SRO-FT is anticipated to function impartially, with credibility and responsibility under the supervision of the regulator. </li></ul>The Reserve Bank(RBI) of India has released a preliminary framework outlining general functions, governance standards, and eligibility requirements for the establishment of a self-regulatory organisation for FinTech firms (SRO-FT). The recognition of SRO-FTs would be determined by the quantity and characteristics of the applications received. According to the RBI, “The SRO-FT would derive its strength from its membership, ensuring that it is truly representative of the fintech sector. Through comprehensive membership agreements that encompass a broad spectrum of industry players, the SRO-FT should gain the legitimacy and credibility to not only frame baseline standards and rules of conduct codes, but also to effectively monitor and enforce them.” Keeping up with technological progress “The RBI's move to establish an SRO framework is a game-changer in financial regulations, especially for digital lending and AI-driven innovation. This is a strong shift towards a collaborative, adaptive ecosystem. By integrating industry insights into regulation, we're ensuring that rules are practical and keep up with technological progress, fostering innovation and growth,” says <keyword id="20212226" type="General" weightage="20" keywordseo="adhil-shetty" source="keywords">Adhil Shetty</keyword>, CEO, BankBazaar, a financial marketplace. He adds that the SRO model enables a balance between regulation and innovation, which is especially critical in fast-evolving sectors such as fintech. This is not just about ensuring compliance; it's about creating a culture of integrity and ethical practices that are ingrained in the industry's DNA. The RBI's commitment to this collaborative approach is thus a significant step in developing a resilient financial ecosystem. Healthy and sustainable growth of the fintech sector “The creation of an SRO is seen as crucial in combating the influence of unscrupulous lenders, promoting ethical conduct, strengthening lending infrastructure, and formulating adaptable regulatory strategies,” says <keyword id="20212225" type="General" weightage="20" keywordseo="madhusudan-ekambaram" source="keywords">Madhusudan Ekambaram</keyword>, Co-founder and CEO, KreditBee, a personal loan app. The SRO-FT is anticipated to function impartially, with credibility and responsibility under the supervision of the regulator. Its primary goal is to contribute to the healthy and sustainable growth of the fintech sector, while also charting a smooth path to phased regulatory compliance when necessary. “This collaborative and participatory approach aligns with the RBI's overarching objective of fostering a resilient and sustainable financial ecosystem, emphasising ethical behaviour and transparency,” says Ekambaram. The SRO-FT is thus expected to play a pivotal role in shaping the course of digital lending in India by ensuring the adoption of responsible practices and maintaining integrity within the industry.

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Pepperfry and Bankbazaar are now offering loans to refurbish homes

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Keep a track of the last Rupee in your account with these five mobile apps

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Fintech companies taking advantage of boom in retail lending

BankBazaar raises Rs 375 crore of funding via Amazon

BI India Bureau

Fintech SRO aims to enhance credibility of sector, promote ethical conduct

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