Groww IPO 17x oversubscribed; Product launches from Hong Kong Fintech Week | TWIF - 09th Nov, 2025

RuPaycaptured 18% credit card market share in October 2025, leveraging UPI payments platform.

Finance minister Nirmala Sitharaman announced plans to develop larger banks through consultation with RBI.

Paytmreported Q2 FY2025 net profit of INR 21 cr ($2.4M) after INR 190 cr ($22M) gaming business impairment.

Polygon, a crypto/blockchain platform startup, and Anq, a fintech startup, explored developing Asset Reserve Certificate (ARC), a sovereign-backed digital token fully collateralised by Indian government securities.

State Bank of Indiareported 12.73% YoY credit growth to INR 44.2 lakh crore ($500bn) in Q2 FY26, with strong performance in retail, agriculture, and SME portfolios.

CSB Bankgrew net profit by 16% to INR 160cr ($18M) in Q2, driven by higher interest income and planning retail, SME, and NRI segment expansion.

State Bank of India (SBI)planned to divest 10% stake in SBI Funds Management through an Initial Public Offering (IPO) in 2026, targeting valuation of INR 1 lakh crore ($11bn).

Crif High Markreported microfinance lending portfolio declined 16.5% to INR 3.45 lakh crore ($39bn) in Q2 2025.

Public sector banks in India reported a 9% YoY profit increase to INR 49,456 crore ($5.6bn) in Q2 FY26, with State Bank of India contributing 40% of total earnings.

MobiKwikreported Q2 FY26 financial results with revenue declining 7% YoY and losses increasing 8X to INR 28.6 crore ($3.3M).

Moneyview, a retail credit company, grew revenue 74% to INR 2,339 cr ($264M) and profits 40% to INR 240 cr ($32M) in FY25.

Groww, a digital investment and savings startup, raised INR 2,984.5cr ($336M) through Initial Public Offering (IPO) which was 17.6x oversubscribed.

Bajaj Financial Securitiesacquired a stake in Lemnisk, a customer data platform.

Junio Paymentsreceived in-principle authorisation from Reserve Bank of India (RBI) to issue prepaid payment instruments targeting teenagers' financial education via digital wallet and UPI integration.

Kotak Securitieslaunched Neome, an AI research tool and reduced API fees to support algorithmic trading.

Razorpaypartnered with NPCI International Payments Limited to enable UPI payments for Indian travelers in Malaysia, facilitating direct merchant transactions in Malaysian Ringgit.

Delhiverylaunched a fintech subsidiary with INR 12 Cr ($1.4M) in initial financing to serve the logistics ecosystem.

Pay3launched an Agentic Payments Platform enabling AI agents to autonomously execute stablecoin financial transactions across multiple blockchains.

Paytmlaunched a new AI-driven travel booking app covering flights, trains, buses, and metros with zero convenience fees and conversational interface.

AU Small Finance Banklaunched specialised banking program for women with exclusive discounts, healthcare benefits, and preferential loan rates.

Stable Money, a fixed income savings startup, launched digital gold and silver investment products, expanding its wealth platform offerings.

Reserve Bank of India (RBI)reported digital fraud increase since July and emphasised continuous cybercrime prevention strategies.

Securities and Exchange Board of India (SEBI)escalated efforts to prevent online investment fraud by demanding increased collaboration from social media platforms.

SEBIwarned public about risks associated with digital gold investments.

ICAIsubmitted detailed recommendations for Insolvency and Bankruptcy Code (IBC) Amendment Bill, 2025

Lighthouse Canton, an asset management platform, raised $40M.

Kshema General Insurance, a micro insurance company for smallholder farmers, raised $20M.

Mufin Green Finance, an NBFC, raised INR 50 crore ($5.6M), targeting consumer finance and green energy initiatives.

Zynk, a stablecoin and blockchain based cross border payment infrastructure startup, raised $5M.

PB Healthacquired Amazon-backed digital health startup Fitterfly for its clinically validated disease management programs.

InCred Moneyacquired with Stocko, an online stock trading platform.

Thunespartnered with WeChat Pay in Hong Kong to enable real-time and affordable cross-border money transfers globally, targeting expatriate remittance market.

BRICS nations unveiled a decentralised cross-border payments platform to reduce dependence on U.S.-controlled SWIFT system.

Bank of Thailandlaunched cross-border QR payment linkage with China, enabling direct mobile payments.

Arta, a Singaporean wealth management startup, expanded its AI-powered SaaS platform globally, with Bank of Singapore and Hong Leong Bank adopting the technology for enhanced wealth management services.

State Bank of Pakistanreported 38% YoY growth in digital retail payment transactions, reaching 9.1 billion transactions.

Ant Digitalunveiled AI solutions for financial institutions, demonstrating advanced capabilities in risk management, marketing, and customer experience.

WeBank, a Chinese digital bank, launched its international expansion strategy, highlighting AI-native banking capabilities and technology export initiatives.

HeyMax, a Singapore-based loyalty platform, launched in Hong Kong and partnered with Cathay, aiming to expand its regional rewards network.

XTransferpartnered with Bank SinoPac in Hong Kong to offer cross border products including global accounts, local currency accounts, and foreign exchange (FX) services.

Airwallexsurpassed $1B in annual recurring revenue in Oct 2025

StraitsXpartnered with KasikornBank to enable stablecoin QR payments between Singapore and Thailand, launching in Q2 2026.

Endowuspartnered with Avanda Investment Management to broaden access to Singapore equity investment opportunities under MAS's Equity Market Development Program.

OCBCmaintained net profit of $2B in Q3, with 9% QoQ growth.

Philippine banksincreased profits 4.1% to $3.35B, with assets rising 7.7% to $476.9B due to stable deposits and strong liquidity in first half of 2025.

SEDANIA a Malayasian lending company disbursed MYR 2bn ($480M) through GoHalal Financing Program to support Malaysia's growing gig economy.

XTransfer, a B2B cross-border trade payment company, and OCBC, a Southeast Asian bank, partnered to provide cross-border trading companies with comprehensive, compliant, and efficient financial services and solutions.

Bizcaplaunched Line of Credit Ultra, offering Singapore SMEs up to SGD $300,000 with fast 24-hour approval and flexible repayment options.

Hang Seng Bank in Hong Kong launched Money Safe, a security feature allowing customers to lock funds requiring in-person branch verification for withdrawal.

Visapartnered with DealMe to launch NanuPay, enabling Vietnamese Visa credit cardholders to select installment plans while shopping in South Korea

Clear Junctionlaunched multi-currency SWIFT service for remittance companies in LATAM, APAC, and EMEA regions, enabling faster cross-border payments across 11 currencies.

Hong Konglaunched tokenisation pilot to enhance fintech leadership and global competitiveness.

Niumsecured a payment institution license from Brazil's Central Bank, enabling direct local operations and improving cross-border transaction capabilities.

Singaporepassed amendments allowing discretionary caning up to 12 strokes for scammers and money mules to combat online fraud.

dtcpay in Singapore received Electronic Money Institution (EMI) license from Luxembourg's financial regulator, enabling services across 30 European Economic Area countries

Paywatch, a Malaysian earned wage access startup, raised US$20M.