📚 Extracted Documents

This news article, authored by Hiral Thanawala, reports that the Fintech Association for Consumer Empowerment (FACE) has identified and reported over 700 illegal digital lending apps for review and action. The article highlights FACE's efforts in revising its Code of Conduct to incorporate good lending practices, emphasizing responsible lending. This report was released on Moneycontrol's platform on September 25, 2023.

This news article from Livemint discusses how the Fintech Association for Consumer Empowerment (FACE) is seeking approval from the Reserve Bank of India (RBI) to become a self-regulatory organization in the digital lending industry. FACE aims to promote consumer empowerment through ethical lending practices and collaboration with regulators. The article highlights FACE's role in the digital lending sector and its intentions to uphold standards and protect consumers.

This is a news article from the BW Online Bureau announcing the appointment of Sugandh Saxena as the first CEO of the Fintech Association for Consumer Empowerment (FACE). The article details Saxena's extensive background in microfinance and her plans to strengthen ethics and consumer protection within the digital lending industry. FACE is in the process of becoming a Self-Regulatory Organisation and aims to work closely with various stakeholders to enhance financial inclusion and consumer empowerment.

This news article from Times Now details how the Fintech Association for Consumer Empowerment (FACE) has applied to the Reserve Bank of India (RBI) for a role as a Self-Regulatory Organisation (SRO) in the digital lending industry. The article highlights FACE's efforts to promote responsible lending and address exploitation by predatory lenders. FACE aims to enhance consumer trust and maintain ethical practices in the digital lending sector, catering to a significant portion of the market in India.

The Fintech Association for Consumer Empowerment (FACE) has applied to the Reserve Bank of India (RBI) to be designated as a Self-Regulatory Organisation (SRO) in the digital lending industry. FACE aims to work with RBI to enforce ethical lending practices, improve consumer protection, and eliminate illegal lending apps that exploit consumers. The article highlights the significance of SROs in ensuring regulatory compliance and fostering responsible lending in the fintech sector.

This news article discusses the rapid growth in India's digital lending market, noting a 200% increase in credit disbursement during the second quarter of the fiscal year. The Fintech Association for Consumer Empowerment (FACE) reports that the substantial growth is driven by the increase in both the number of loans and the amount disbursed. It highlights the factors influencing the market, such as pricing variations and the impact of regulatory measures by the RBI.

This news article reports on the launch of 'Luminate Exchange' by Equifax India in partnership with the FinTech Association for Consumer Empowerment (FACE) to combat fraud in the fintech sector. The launch represents India’s first risk management exchange designed to provide real-time fraud prevention solutions for fintech lenders, utilizing big data to enhance security measures in digital lending. This collaboration aims to aid fintech companies in improving their due diligence processes and fostering ethical lending practices in India.

This document is a news article from PTI News about a reported 49% increase in digital loan disbursements by value during the financial year 2023-24, as claimed by the Fintech Association for Consumer Empowerment (FACE). The article highlights concerns from the Reserve Bank regarding certain lending practices and ongoing regulatory discussions. It provides key statistics and insights into the digital lending sector in India.

This news article discusses a report by the Fintech Association for Consumer Empowerment (FACE), highlighting how consumers are turning to FinTech apps to manage their financial needs, particularly in emergencies and for educational purposes. It reveals that a significant portion of borrowers prefer FinTech solutions over traditional banks or non-bank financial companies for ease and accessibility. The report also notes areas where these apps can improve, such as simplifying the process of selecting the right app and clarifying loan terms.

The document is a news article from GadgetsNow about the launch of the Fintech Lending Risk Barometer by the Fintech Association for Consumer Empowerment (FACE) and the Center for Financial Inclusion (CFI). This initiative aims to systematically identify and assess emerging risks in the Indian fintech lending sector through a comprehensive survey among industry stakeholders. Key risks highlighted include unlawful fintech lenders, cyber fraud, and data privacy concerns, with insights drawn to prioritize actions for a safer digital lending ecosystem.

This news article reports on the Fintech Association for Consumer Empowerment (FACE) expressing support for the Indian government's move to ban predatory lending apps. FACE's CEO, Sugandh Saxena, highlighted the importance of the government's actions in ensuring that only legitimate lending apps remain, thus enhancing consumer trust and market expansion for lawful digital lenders. The article underscores FACE's commitment to collaborating with authorities to maintain a secure digital lending environment.

The article discusses the Fintech Association for Consumer Empowerment's (FACE) support for the government's decision to ban predatory lending apps. FACE CEO, Sugandh Saxena, comments on the importance of the government's actions in creating a safe digital lending ecosystem and rebuilding customer trust. The article emphasizes FACE's commitment to contributing to a trustworthy digital lending environment alongside RBI and government departments.

This article from Inc42 reports on the Fintech Association for Consumer Empowerment's (FACE) support for the Indian government's ban on predatory lending apps. The ban targeted apps with alleged Chinese connections, although some bans were later revoked by the Ministry of Electronics and Information Technology (MeitY) for certain apps. FACE's CEO, Sugandh Saxena, emphasized that these actions will help legitimize the market and protect consumer trust.

This news article, published by The Financial Express and written by FE Bureau, discusses the Fintech Association for Consumer Empowerment (FACE) applying to the Reserve Bank of India (RBI) to become a self-regulatory organisation (SRO) overseeing the digital lending sector. This move follows recommendations from the RBI's working group on digital lending to establish an SRO for participants in the digital lending ecosystem. FACE aims to enforce responsible lending practices, enhance data security, and curb illegal lending activities.

This news article, published by the BW Online Bureau, discusses FACE's application to the Reserve Bank of India to become a Self-Regulatory Organization (SRO) in the digital lending industry. FACE aims to address consumer protection, financial literacy, and curbing illegal lending apps while working with regulators. The move seeks to promote a responsible lending ecosystem in India, enhancing transparency and ethical practices among digital lenders.

This is a news article announcing the appointment of Sugandh Saxena as the first CEO of the Fintech Association for Consumer Empowerment (FACE), an industry association for fintech lenders in India. The article highlights her background, the role FACE aims to play in the digital lending industry as a potential Self-Regulatory Organisation (SRO), and her objectives to foster ethical lending practices and consumer empowerment. It notes her previous roles and experience, particularly in self-regulation and compliance in the microfinance sector.

The document is a report released by the Fintech Association for Consumer Empowerment (FACE) detailing the progress and impact of fintech personal loans in India for H1 FY 24-25. It highlights the role of fintech in providing credit to underserved markets, noting a slowing growth rate and specific loan distribution trends. The report provides detailed statistical insights, including loan sizes and customer demographics, underscoring the significance of fintechs in the digital financial inclusion landscape.

The Fintech Association for Consumer Empowerment (FACE) and the Center for Financial Inclusion (CFI) have launched India's first Fintech Lending Risk Barometer, highlighting illegal lending, cyber frauds, and data privacy as the top three risks in the fintech industry. The study aims to create a systematic baseline of emerging risks and provide insights and recommendations for a safer digital lending ecosystem in India. This initiative is part of a broader effort to monitor market risks and facilitate consumer protection in fintech lending.

This document is a report released by Equifax and the Fintech Association for Consumer Empowerment detailing the growth of fintech lending in India. It highlights a significant increase in loan disbursements, particularly for personal loans, and identifies key states where digital lending is prevalent. The report aims to inform market participants about current trends, regulatory developments, and opportunities for growth in the digital lending ecosystem.

This document is a news article detailing Google’s collaboration with the Fintech Association for Consumer Empowerment (FACE) to combat predatory digital lending apps in India. It describes the joint efforts of Google and FACE to enhance user safety through the DigiKavach initiative by leveraging market intelligence and strict policy enforcement on the Play Store. The article highlights the actions taken by FACE and Google’s commitment to creating a secure digital environment.

This news article discusses the 40% growth in digital lending during Q2 FY 23-24, according to the latest FACETS report by the Fintech Association for Consumer Empowerment (FACE). It highlights key data points like the disbursement of 2.4 crore loans worth Rs 31,692 crore, and emphasizes the industry's focus on customer grievance resolution. The article provides insights into how digital lenders are improving customer protection and experience in the fintech sector in India.

The document is a report released by the Fintech Association for Consumer Empowerment (FACE), detailing the growth in digital lending disbursement volumes and values by 31% and 32% respectively for Q1 FY 23-24. The report highlights the impact of the Account Aggregator framework and the industry's adaptation to the Digital Lending Guidelines. It presents insights into loan disbursements, value increases, and the adoption of new regulatory frameworks across member companies.

This document is a statement from the Fintech Association for Consumer Empowerment (FACE) supporting the Indian government's actions against illegal lending apps. FACE emphasizes the need for a trustworthy digital lending environment and praises efforts from the Ministry of Electronics and Information Technology (MEITY) to prioritize consumer safety. The document also outlines FACE's mission to advance fair and responsible digital lending practices.

The document, issued by the Fintech Association for Consumer Empowerment (FACE), outlines the adoption of an upgraded Code of Conduct to enhance customer protection in the fintech digital lending industry. The document highlights the election of new Member Directors, Naveen Kukreja and Ashish Goyal, and describes the new Code's seven guiding principles aimed at promoting inclusive, transparent, and responsible digital lending practices. Additionally, it discusses FACE's ongoing efforts towards becoming a Self-Regulatory Organisation (SRO).

This document is a report published by the Fintech Association for Consumer Empowerment (FACE), detailing the findings from a survey on users' experiences with digital lending applications in India. The report, launched in collaboration with MicroSave Consulting, highlights gaps in consumer knowledge and behavioral biases that leave users vulnerable to fraudulent loan apps. FACE's initiatives, such as monitoring app stores and awareness campaigns, are also discussed to promote a safer digital lending ecosystem.

The document is a quarterly report by the Fintech Association for Consumer Empowerment (FACE) titled FACETS, focusing on digital lending disbursements for Q3 FY 23-24. It highlights a 12% growth in loan disbursement volume and 46% growth in value, with a special emphasis on women's participation in digital lending. It notes the progress of FACE members and offers insights into the industry's adaptation to market conditions.

This document is the 10th issue of the FACETS report released by the Fintech Association for Consumer Empowerment (FACE). It details the growth and trends in the digital lending sector for the fiscal year 2023-24, highlighting key metrics such as loan disbursement volume and value. The report reflects on the industry's advancements and the contributions of FACE's member companies towards financial inclusion and regulatory compliance.

The document is a comprehensive report published by the Fintech Association for Consumer Empowerment (FACE), titled 'Fintech Personal Loans', providing an analysis of the fintech lending industry from 2018 to 2024. It highlights the significant growth of fintech NBFCs in the personal loan market, especially among young borrowers and those in Tier III areas, and discusses the implications for digital financial inclusion and responsible use of technology. The report emphasizes the steady growth, geographical spread, and evolving ticket sizes of fintech loans, underlining the industry's potential in the expanding digital economy.

The document is the 11th issue of the FACETS report released by the Fintech Association for Consumer Empowerment (FACE), detailing trends in digital loan disbursements for Q1 FY 24-25. It highlights a significant year-on-year growth in disbursement volume and value, underscoring the sector's role in financial inclusion and customer demand for digital credit. The report also provides insights into disbursement volumes, average loan size, and asset under management (AUM) among FACE member companies.

The document is a report released by the Fintech Association for Consumer Empowerment (FACE) and Grant Thornton Bharat titled 'FACE & Grant Thornton Bharat Risk Barometer 2024'. It examines key risks in the FinTech lending sector in India, such as unauthorized lenders, cyber fraud, and regulatory challenges, and aims to provide insights for addressing these issues. The report also discusses compliance impacts and unfair conduct practices affecting industry reputation.

This document is the 12th issue of the quarterly report, FACETS, released by the Fintech Association for Consumer Empowerment (FACE). It details the lending activity of FACE member companies in Q2 FY 24-25, highlighting disbursement volumes, average ticket sizes, and total assets under management (AUM). The report showcases the growth of digital loan disbursements and the significant role of the FinTech sector in financial inclusion in India.

This document is a press release from the Fintech Association for Consumer Empowerment (FACE) announcing the appointment of Shri Manoranjan Mishra, a former RBI Executive Director, as an Independent Director on its Board. The release outlines Mishra's extensive background in regulatory expertise and his role in strengthening the governance of FACE. The addition comes as FACE aims to enhance responsible and consumer-centric governance in the FinTech sector.