Latest news with #FIs
Associated Press
03-06-2025
- Business
- Associated Press
Quavo Fraud & Disputes Named 'Best Dispute Management & Resolution Solution' by Fintech Futures
WILMINGTON, Del., June 03, 2025 (GLOBE NEWSWIRE) -- Quavo Fraud & Disputes has been recognized as the winner of the 'Best as-a-Service Solution – Dispute Management & Resolution' category at the 2025 Banking Tech Awards USA, hosted by Fintech Futures. The award honors Quavo's QFD® platform, an end-to-end SaaS solution purpose-built to transform and streamline dispute management for financial institutions and deliver a seamless experience for accountholders. This prestigious accolade underscores Quavo's continued commitment to innovation in fraud and dispute resolution, enabling financial institutions to reduce operational costs, ensure regulatory compliance, and deliver trust-building experiences that foster loyalty among accountholders. 'This award is a testament to our team's relentless focus on customer experience, compliance, and AI advancements,' said Chief Product Officer and Co-Founder, David Chmielewski. 'By building QFD® with intelligence from the ground up, we've created a platform that adapts to change, scales with demand, and earns trust with every interaction.' Quavo's flagship solution, QFD®, is an AI-powered platform built exclusively for financial institutions to automate and streamline the entire dispute lifecycle. The platform delivers a compliant, scalable, and highly automated experience, enabling financial institutions to act quickly and accurately while empowering consumers with transparency and control. Now in its fourth year, the Banking Tech Awards USA celebrates the most innovative and impactful achievements across banking and fintech. This year's competition featured more than 80 leading banks, credit unions, and technology providers across 40+ categories, including technology excellence, leadership, and project implementation. About Quavo, Inc. Quavo is a leading technology partner and strategic advisor, helping financial institutions (FIs) build trust-driven customer relationships through faster, more transparent dispute resolutions. Our mission is to restore financial trust by simplifying fraud and disputes. Quavo's award-winning technology automates the entire dispute lifecycle, from intake to resolution. FIs can pair this end-to-end solution with our expert-led back-office investigation team in one turnkey managed service. Scalable for institutions of all sizes, Quavo's solutions reduce losses, ensure compliance, and enhance customer loyalty. Learn more at Media Contact: Julia Lum PR & Events Specialist [email protected]
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Business Standard
29-05-2025
- Business
- Business Standard
FPIs' investment in corporate bonds rises 11.4% in FY25: RBI report
Investments by foreign portfolio investors (FPIs) in corporate bonds grew by 11.4 per cent in 2024–25, rising from ₹1.08 trillion in 2023–24 to ₹1.21 trillion in FY25, according to the Reserve Bank of India's Annual Report 2024–25. However, utilisation of the approved investment limits declined slightly to 15.8 per cent as of end-March 2025, down from 16.2 per cent a year earlier, primarily due to an expansion in the absolute investment limits for FPIs, the report said. Primary corporate bond issuances during the year rose by 16.1 per cent to ₹9.9 trillion, up from ₹8.6 trillion in 2023–24. Outstanding corporate bonds (as of end-December) also increased by 13.3 per cent, reaching ₹51.6 trillion compared to ₹45.5 trillion in the previous year, the report noted. Additionally, primary issuances of listed corporate bonds on domestic stock exchanges increased in the year, along with higher mobilisation through overseas markets. Private placements continued to dominate as the preferred mode of issuance, accounting for 99.2 per cent of total funds raised in the domestic bond market. The report highlighted that average daily turnover in the secondary market rose to ₹7,645 crore in 2024–25, up from ₹5,722 crore in the previous financial year. 'Average daily turnover in the secondary market on corporate bonds increased to ₹7,645 crore during 2024–25 from ₹5,722 crore during the previous year,' it stated. Corporate bond yields declined in line with government securities (G-sec) yields, with the average yield on AAA-rated 3-year bonds falling by 15 basis points (bps) for public sector undertakings (PSUs), financial institutions (FIs), and banks; 28 bps for non-banking financial companies (NBFCs); and 33 bps for corporates as of March 2025 compared to March 2024. However, the spread between these corporate bond yields and G-sec yields of similar maturity widened, indicating that the drop in corporate bond yields lagged the decline in G-sec yields. 'Corporate bond yields softened during 2024–25, mirroring G-sec yields. The monthly average yield on AAA-rated 3-year bonds of PSUs, FIs and banks; NBFCs; and corporates fell by 15 bps, 28 bps and 33 bps, respectively, in March 2025 vis-à-vis March 2024,' the report added.
India Gazette
29-05-2025
- Business
- India Gazette
Corporate bond yields eased in 2024-25; turnover and issuances see strong growth: RBI Annual Report
New Delhi [India], May 29 (ANI): Corporate bond yields softened in 2024-25, tracking the decline in government securities (G-sec) yields, according to the Reserve Bank of India's annual report released on Thursday. The average monthly yield on AAA-rated 3-year bonds declined across all major borrower categories in March 2025 compared to a year ago. RBI said 'The monthly average yield on AAA-rated 3-year bonds of public sector undertakings (PSUs), financial institutions (FIs) and banks; non-banking financial companies (NBFCs); and corporates fell'. Yields fell by 15 basis points (bps) for public sector undertakings (PSUs), financial institutions (FIs), and banks; by 28 bps for non-banking financial companies (NBFCs); and by 33 bps for corporates. The secondary market saw increased activity, with the average daily turnover in corporate bonds rising to Rs 7,645 crore during 2024-25 from Rs 5,722 crore in the previous year. The primary market also witnessed growth. Issuances of listed corporate bonds on domestic stock exchanges increased during the year, along with a rise in funds raised through overseas markets. Private placements remained the dominant route for raising funds, accounting for 99.2 per cent of the total resources mobilised through the domestic corporate bond market. Foreign portfolio investors (FPIs) increased their investments in corporate bonds. However, the utilisation of approved FPI limits declined slightly to 15.8 per cent at the end of March 2025, compared to 16.2 per cent a year earlier. This decline came despite a rise in the absolute limit for FPI investments. The data also highlighted continued strength in India's corporate bond market, supported by lower yields and strong investor interest. (ANI)
Finextra
13-05-2025
- Business
- Finextra
Navigating the macro-economy: Opportunities in multi-currency settlement
Watch this webinar, in association with Standard Chartered, to learn how diversification in settlement currencies is key to weathering today's macro-economic headwinds. How is the macro-economic environment reshaping global trade and payment requirements? Currency diversification is accelerating; how are geo-political tensions and shifting trade flows reshaping global payment demands? Client expectations in cross-border payments are on the rise; how are banks navigating these demands to stay competitive? Multi-currency clearing is no longer optional; how are FIs evolving their strategies to support growth and resilience? As the global macroeconomic environment becomes more unpredictable, transaction banking is undergoing unprecedented change. Increased geo-political and trade uncertainty; intensifying currency diversification needs; shifting client demands; and the impending ISO 20022 migration deadline are accelerating the need for cost-effective access to multi-currency clearing and settlement. According to the Bank of England, the value of cross-border payments will hit $250 trillion by 2027. Evidently, economic uncertainty is supercharging institutions' currency diversification requirements; and, though the dollar remains the reserve currency, FIs are increasingly turning to multi-currency solutions within emerging markets, such as the Renminbi and Rupee. But the geo-economic domain is not the only source of change. There are new cross-border data requirements, soaring demands for real-time notifications, as well as evolving blockchain technologies and increased application programming interface (API) integration. Against this backdrop, institutions' long-term stability and growth will hinge on the strength of their interbank relationship, its global reach, connectivity, and of course, the vision. Sign up for this Finextra webinar, hosted in association with Standard Chartered, to hear our panel of experts discuss the benefits of diversification in settlement currencies, against the backdrop of strong geo-political headwinds.
Hindustan Times
10-05-2025
- Business
- Hindustan Times
Equipped to thwart cyber attacks: Banks, insurance firms to Sitharaman
Indian banks and insurance firms on Friday assured finance minister Nirmala Sitharaman that they are ready to thwart any cyber-attacks by Pakistani hackers, and fully-equipped with systems such as anti-DDoS (distributed denial-of-service). 'To guarantee institutional readiness, mock drills have been held encompassing cybersecurity and disaster recovery scenarios at the highest levels,' they told her during a meeting on Friday. The financial institutions (FIs) are vigilant, actively watching phishing attempts, they said. Sitharaman directed banks to continue providing seamless services to people even in remote areas in coordination with regulators and security agencies, if required. She also directed insurance companies to ensure timely claim settlements and uninterrupted customer service. The FM has been meeting with managing directors and chief executives of banks and insurance companies amid emerging security concerns arising from tensions at the border, a finance ministry spokesperson said. Both public and private sector firms participated in the meeting. Speaking to them, Sitharaman emphasized the critical role of the banking and financial sector in ensuring economic stability during heightened geopolitical tensions. She directed all banks to remain fully alert and prepared to deal with any eventuality or crisis, ensuring uninterrupted access to banking and financial services for citizens and businesses across the country, especially in border areas. She remarked that emergency protocols should be updated and tested to handle any arising contingencies. The finance minister also expressed deep concern about the safety of bank employees and their families working in branches in border areas witnessing attacks from Pakistan. She directed banks to ensure their adequate safety by effectively coordinating with the security agencies. She specified that priority must be given to seamless cash availability at ATMs, uninterrupted UPI and internet banking services, and continued access to essential banking facilities. Sitharaman also directed banks to conduct regular audits of their cybersecurity systems and data centres and ensure that all digital and core banking infrastructure is fully firewalled and monitored round the clock to prevent breaches or any hostile cyber activity. Senior officials from the department of financial services (DFS), CERT-In (the national nodal agency for responding to computer security incidents), the Reserve Bank of India (RBI), the Insurance Regulatory and Development Authority of India (IRDAI) and the National Payments Corporation of India (NPCI) attended the meeting. The executives apprised FM about the measures they are undertaking, given the ongoing tensions at the border, the ministry said in a statement. 'Bank MDs and CEOs informed that cybersecurity measures have been reinforced throughout the banking system,' it added. Bank officials stated that their security operations centre (SOC) and network operations centres are fully operational and on high alert. These centres are coordinating closely with CERT-In and the National Critical Information Infrastructure Protection Centre (NCIIPC), facilitating real-time data sharing and threat monitoring. The FM instructed banks to designate two dedicated senior officials at their HQ, one for reporting all cyber-related matters and the other to ensure operational matters, including the functioning of bank branches and the availability of cash in ATMs. Both dedicated officers should report any incident to CERT-In and relevant agencies and DFS on a real-time basis. Sitharaman reiterated that the government is firmly committed to national security and economic stability, noting that the country's banking and financial system remains robust and resilient.
