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<ul><li><keyword id="15023564" type="General" weightage="100" keywordseo="moneyplanned" source="Orion">MoneyPlanned</keyword> is an Indian personal finance platform that helps clients automate their financial goals. </li><li>The round was led by <keyword id="7036829" type="General" weightage="80" keywordseo="inflection-point-ventures" source="Orion">Inflection Point Ventures</keyword>, with participation from California-based startup accelerator <keyword id="15023565" type="General" weightage="50" keywordseo="expert-dojo" source="Orion">Expert Dojo</keyword>, Joseph R Saviano – partner at Dot Capital, New York, and <keyword id="241332" type="General" weightage="50" keywordseo="sameer-khan" source="Orion">Sameer Khan</keyword>, executive director corporate <keyword id="6374832" type="General" weightage="50" keywordseo="treasury" source="Orion">treasury</keyword>, <keyword id="133737" type="General" weightage="50" keywordseo="dbs-bank" source="Orion">DBS Bank</keyword>, Singapore. </li><li>MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth ₹ 6,500 crore. </li></ul> Fintech company MoneyPlanned on Monday raised over ₹2.5 crore in a seed funding round led by Inflection Point Ventures. The other investors who participated in the round include California-based startup accelerator Expert Dojo, Joseph R Saviano – partner at Dot Capital, New York and Sameer Khan – executive director corporate treasury, DBS Bank, Singapore. Founded in July 2020 by Sameer Shashank Gattupalli and Nikhila Putcha, MoneyPlanned is a fintech platform assisting clients to automate their financial goals. The funds raised will be used for marketing and user acquisition, deepening the tech infrastructure and expanding the tech and business teams. “India has a large base of salaried people with more youngsters joining the workforce every year. Financial planning is not a luxury anymore but a necessity, that's one of the biggest lessons from the Covid pandemic. MoneyPlanned’s platform is built to offer a personalised service at scale. At IPV, we invest in businesses that have the ability to scale while maintaining a healthy business matrix,” <keyword id="6342098" type="General" weightage="50" keywordseo="vinay-bansal" source="Orion">Vinay Bansal</keyword>, Founder CEO, Inflection Point Ventures, said. MoneyPlanned currently has 10,000 weekly active users and 35,000 monthly active users, with the platform collectively tracking financial goals worth ₹ 6,500 crores. The founders aim to build an advanced financial planning platform powered through technologies like AI and blockchain that performs like an in-person financial planner. According to a survey conducted by <keyword id="6355630" type="General" weightage="50" keywordseo="securities-and-exchange-board-of-india" source="Orion">Securities and Exchange Board of India</keyword>, only 27% of India's population is financially literate. The ratio of advisors to investors is only 1:76000, which can be solved using technology, states MoneyPlanned. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/amazon-great-indian-festival-sale-best-deals-and-offers/articleshow/94004700.cms">Amazon Great Indian Festival sale announced – card offers, cashback, new launches and more</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/mobile/news/call-of-duty-warzone-mobile-announced-heres-how-to-pre-register-on-android/articleshow/94297494.cms">Call of Duty: Warzone Mobile announced — here’s how to pre-register on Android</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/thelife/personalities/news/anil-agarwal-profile-vedanta-resources-listing-in-london-stock-exchange-gujarat-semiconductor-chipset-plant/articleshow/94297057.cms">Anil Agarwal – how a Bihar boy who knew only ‘yes’ and ‘no’ went onto list the first Indian company on London Stock Exchange</a>

Fintech company MoneyPlanned raises over ₹2.5 crore from Inflection Point Ventures, others

<ul class="summary-list"><li><keyword id="13173795" type="UNKNOWN" weightage="60" keywordseo="dbs-bank" source="Orion">DBS Bank</keyword> is planning to launch <keyword id="6514520" type="UNKNOWN" weightage="60" keywordseo="crypto-trading" source="Orion">crypto trading</keyword> services for retail clients this year.</li><li>The bank launched a digital asset trading desk for institutional clients in late 2021.</li></ul><keyword id="13173794" type="UNKNOWN" weightage="60" keywordseo="dbs" source="Orion">DBS</keyword> Bank, the largest bank in Southeast Asia by assets, is planning to launch cryptocurrency trading services for retail clients this year, expanding into the space following its launch of an <a href="https://www.coindesk.com/markets/2020/10/27/dbs-bank-is-planning-to-launch-a-digital-asset-exchange/">institutional digital asset trading desk</a> in late 2021.DBS Bank CEO Piyush Gupta during the bank's <a href="https://www.dbs.com/iwov-resources/images/investors/quarterly-financials/2021/4Q21%20media%20briefing.mp4">fourth-quarter earnings call</a> Monday said there is a roadmap in place though declined to give further specifics. "We've started doing the work on seeing how we get in a sensible way, take it out, and expand it beyond the current investor base. And that includes making sure we appropriate thinking about things like potential fraud and others," Gupta said during the call. "We should have something by the end of the year."Gupta, who has led the bank since 2009, also said he expects DBS Bank to improve its digital asset trading platform to "make the access to the digital assets a lot more convenient."This means allowing online deposits to operate more quickly and more seamlessly with minimal intermediaries. The bank's current workflow requires customers to call bankers to place orders within Singapore's timezone."What happens is that you've got 24/7, but the customers still need to call and speak to bankers," Gupta said. "So the first order is to make it all online, make it self-service, make it instant, and make sure the internal processes are robust to be able to support that."DBS Bank, which reported a net profit increase of 37% to $1.03 billion from October to December, has been deepening its presence in the <keyword id="11893898" type="UNKNOWN" weightage="60" keywordseo="crypto" source="Orion">crypto</keyword> space.The bank in December 2020 established a crypto exchange division called <a href="https://cointelegraph.com/news/singapore-s-largest-bank-dbs-sets-up-crypto-exchange-platform">DBS Digital Exchange</a>, backed by SGX, Singapore's largest derivatives and asset exchange. CoinDesk reported that the exchange notched <a href="https://www.coindesk.com/business/2022/02/11/crypto-trading-volume-revs-up-at-singapores-dbs-bank/">full-year trading volume</a> of about $819 million for 2021. The development of DBS Bank comes as authorities in Singapore clamp down on crypto trading.The Singapore affiliate of <a href="https://markets.businessinsider.com/news/currencies/binance-founder-yi-he-regulation-crypto-growth-headquarter-search-meme-2021-11">Binance</a>, the world's largest cryptocurrency exchange, in <a href="https://www.businessinsider.com/binance-says-it-will-withdraw-singapore-licence-application-2021-12">December 2021</a> said it will withdraw its local license application and wind down its <a href="https://www.insiderintelligence.com/insights/digital-payment-services/">digital payment</a> token business in the broadly crypto-friendly city-state.

The largest bank in Southeast Asia is launching a crypto trading service for retail customers this year

<ul class="summary-list"><li><keyword id="44660" type="CITY" weightage="60" keywordseo="JPMorgan">JPMorgan</keyword> Chase announced it is teaming up with Singapore's <keyword id="133715" type="CITY" weightage="60" keywordseo="DBS">DBS</keyword> Group and Temasek to form a <keyword id="6355684" type="PERSON" weightage="60" keywordseo="Blockchain">blockchain</keyword> payments platform.</li><li>The platform aims to ease frictions for cross-border payments, trade, and currency settlements.</li><li>The new company, dubbed Partior, will leverage blockchain technology and digitize M1 commercial money.</li></ul>JPMorgan Chase <a href="https://www.jpmorgan.com/news/dbs-jpmorgan-and-temasek-to-establish-platform#:~:text=Singapore%2C%2028%20April%2C%202021%20%E2%80%93,exchange%20settlement%20in%20a%20new">announced</a> it is teaming up with Singapore's DBS Group Holdings and Temasek Holdings to form a blockchain payments platform in a bid to ease cross-border payments, trade, and currency settlements.The newly-established technology company, Partior, will leverage blockchain technology and digitize M1 commercial money, according to a statement Wednesday.The platform will develop wholesale payment rails based on digitized commercial bank money to enable "atomic" or instantaneous settlement for various kinds of financial transactions, according to a statement. "We are thrilled by the launch of Partior as it marks yet another milestone for JPMorgan and the industry - blockchain-based wholesale payments infrastructure where information and value can change hands around the world in a 24/7, frictionless way," Takis Georgakopoulos, global head of wholesale payments at JPMorgan, said in a statement.Partior will be designed to complement ongoing central bank digital currencies initiatives and use cases.In the beginning, Partior will focus on facilitating flows primarily between Singapore-based <keyword id="6368751" type="UNKNOWN" weightage="60" keywordseo="banks">banks</keyword> in both US and Singapore dollars but will expand its service offerings to other <keyword id="31671" type="CITY" weightage="100" keywordseo="markets">markets</keyword> and currencies.Headquartered and listed in Singapore, DBS is a financial services group in Asia active in 18 markets.Temasek, also based in Singapore with 11 global offices, is an investment company with a portfolio of $214 billion as of March 2020.

JPMorgan teams with Singapore's DBS and Temasek to form a blockchain payment platform

<ul><li>In our latest interview series, we talk to brands to understand how they are coping with the new normal and their strategies towards navigating these difficult times.</li><li>In today’s interview, Shoma Narayanan, Executive Director- Strategic Marketing &amp; Communications, <keyword id="133737" type="CITY" weightage="20" keywordseo="DBS-Bank">DBS Bank</keyword> India, tells us about their key learnings from the Covid-19 experience so far, a few tips on how to help consumers deal with today’s challenges, and how they are becoming digital-first to connect with their audience. </li></ul>After the COVID-19 outbreak came to India and slowly started spreading across the country, banks were forced to work at limited capacities, while trying to cater to the essential needs of their customers. However, as market forces and consumer behaviour continue to evolve and unemployment increases day-by-day, it is important for marketers to be agile and keep recalibrating their strategy. Applying a few learning from its fellow markets in Asia, DBS Bank was quick to see the writing on the wall. Earlier, it was using an integrated approach to marketing its brand communications. Albeit, in light of the spreading virus, it has shifted all its marketing monies to digital and is replugging some of its old content to keep engaging with its consumers. There is a lot of uncertainty and anxiety around -- the safety of one's family, public health care, and long-term economic impact are some of the key concerns in people's minds. DBS bank is, therefore, using its communications tools to help its audience navigate these challenges. We caught up with Shoma Narayanan, Executive Director- Strategic Marketing &amp; Communications, DBS Bank India to further understand how they are building a connect with their consumers at a time they are scared to step out of their homes, how is the brand doing its bit to help the society and a few learnings that she has picked on her way in these unprecedented days. Excerpts: Q) How have the past few weeks been for the brand, considering the country has been in a lockdown? These are extremely challenging times and with banking being an essential service, our top priority as an organization is to safeguard customers and colleagues while continuing to fully support client needs. We have a wide range of digital solutions that allow both retail and corporate customers to bank from the comfort and safety of their homes. Our branches remain open with extensive safety measures in place to support physical transactions. DBS has also partnered with Bharti AXA to roll out a health insurance plan covering medical conditions including Covid-19. Additionally, we have launched a series of Covid-19 relief measures to help strengthen healthcare infrastructure and support vulnerable communities such as daily wage earners. Q) What is your marketing strategy right now? How have you been trying to continue building a connect with your audience? Consumers are facing more uncertainty today than ever before. Their family's safety and overall public health are primary concerns and there are worries around long-term economic impact. Our marketing strategy therefore focuses on reassuring customers of our support, sharing relevant and useful content and encouraging them to use digital modes of banking as much as possible. While speaking to customers, we found that many of them were keen on helping people less fortunate than themselves, and were not sure how they could do this during a lockdown. We partnered with The Akshaya Patra Foundation to run a programme under which our customers could donate meals to daily wage earners who have been severely impacted. For every donation made by a customer, DBS is making a matching contribution of double the amount, thereby tripling the impact. We have received a higher than expected response to this campaign, and it has helped us strengthen our connect with customers as well as a wider audience. Q) If the lockdown is further extended, will you be tweaking your marketing strategy further? We follow an agile approach, and our marketing strategy will evolve to meet the needs of the situation at hand. Q) How is your brand making a difference in spreading awareness/contributing in whichever way you can? DBS recently launched the ‘DBS Stronger Together Fund’ to provide help to Covid-19 affected communities across its six key markets, namely Singapore, Hong Kong, China, India, Indonesia and Taiwan. In India, DBS is partnering with United Way, Metropolis Labs and others to help scale up public health infrastructure, provide medical supplies and equipment, and sponsor free testing for the underprivileged. DBS is also working with organisations such as Pratham, Akshaya Patra and United Way to provide the equivalent of 2 million meals (in the form of food supplies and pre-packaged meals) to daily wage earners whose earnings have been affected by the temporary closure of factories and workplaces. We plan to roll out more such initiatives in the coming months. Q) TV viewership and digital engagement continue to increase, where are you betting your money? In normal circumstances, we have found that an integrated approach across TV, outdoor and digital gives us the best results. Right now, most of our spends are focused on digital and social media as that is where we are able to best connect with our audiences. We are seeing increased traction on digital even on slightly older content. Earlier this year, around International Women’s Day, we had launched a new episode of our mini-series, SPARKS, featuring our brand ambassador Sachin Tendulkar. The episode traces the journey of a social enterprise that is supported by DBS and is helping women become delivery agents, a profession that was traditionally inaccessible to them. As there is a heightened demand for online content as well as increased interest in cause-related material, we have seen a recent spike in views. Q) What are a few key learnings for you as a brand in the last few weeks? The importance of agility was brought home to us, and we pivoted some of our campaigns really quickly to make sure they were relevant in the current context. DBS is present in multiple countries across Asia, and we had important learnings from our colleagues in Singapore, China and Hong Kong who had faced similar situations in their markets some months/weeks before we did. Our key learnings are around being digital-first, staying true to our brand ethos of ‘Live More, Bank Less’ in everything we do, and ensuring we understand evolving consumer sentiment and respond appropriately.

Marketing in the times of COVID-19: DBS Bank

New Delhi, May 31 () The Indian economy is on course for a full-year contraction this fiscal, as recovery prospects from COVID-19 related disruptions remain "clouded", according to DBS Bank India economist Radhika Rao. The comments came amid the release of key data that showed India's GDP growth tumbling to 3.1 per cent in the March quarter -- the slowest pace since the global financial crisis more than a decade back. In 2019-20, the Indian economy grew by 4.2 per cent, the slowest in 11 years. Commenting on the GDP data, Rao said, "Headline growth was firmer than consensus, but was constrained by data collection issues, including unavailability of earnings for many sectors. This keeps the door open for downward revision to this growth rate". Stating that the 2Q20 (April-June) will provide a clearer picture of the economic slump during the lockdown, Rao said, adding "recovery prospects in FY21 remain clouded and the economy is on course for a full-year contraction this year". According to DBS, consumer discretionary sectors, production and services are likely to take longer to recover. "Drivers of agricultural output will be watched closely as much hope rests on the sector to provide a counterbalancing effect, especially monsoon strength, as kharif sowing will get underway," DBS said in a research note. Meanwhile, the government on Saturday said a phased exit would begin on June 1 from the over-two-months-long nationwide lockdown. Announcing the new guidelines, the Union Home Ministry said a complete lockdown would continue till June 30 in areas identified as COVID-19 containment zones across the country, but restrictions would be lifted in a phased manner at other places after the ongoing fourth phase, ending this Sunday. "As the country goes to a post-pandemic situation, among all the priorities we have, health recovery will be very important. Risks of a second wave should be monitored closely, as regional experience attests, which can potentially not only extend movement restrictions but also carry significant economic impact. "It is encouraging that states can have a bigger say in this regard, as subject to local conditions, part of the community can be opened up whilst few of the metros where the count continues to rise, higher vigilance can be maintained," Rao said. The Health Ministry said all precautions must be taken while "living with the new normal" of COVID-19, as it stressed on strict adherence to physical distancing and use of face covers at public places by everyone while also following personal and social hygiene standards. DRR BAL

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Fintech company MoneyPlanned raises over ₹2.5 crore from Inflection Point Ventures, others

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The largest bank in Southeast Asia is launching a crypto trading service for retail customers this year

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JPMorgan teams with Singapore's DBS and Temasek to form a blockchain payment platform

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Marketing in the times of COVID-19: DBS Bank

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Indian economy on course for full-year contraction: DBS

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