The Monday Roundup: what we are watching this week | May 5th

By Puja Sharma

The Monday Roundup sets the scene for the week’s biggest news stories, industry deals, and upcoming events. For Prime subscribers only.

Better underwriting practices

The Reserve Bank of India’s draft guidelines on gold loans aim to streamline regulations, improve governance, and address industry challenges. This move is being welcomed by FinTech players such as Rupeek, Oro Money, Indiagold, and Manipal Fintech, who see new opportunities to collaborate with banks and NBFCs or grow independently’. The guidelines have also caught the attention of newcomers like L&T Finance and Poonawalla Fincorp, who are exploring co-lending models. By promoting the use of digital tools and better underwriting practices, the RBI’s proposal supports the growth of tech-driven lenders. For many FinTechs, secured gold loans offer a more stable path to expand their offerings, especially at a time when unsecured lending is facing increased scrutiny.

BNP Paribas has signed a renewed and expanded multi-year agreement with IBM, reinforcing a strategic collaboration that dates back to 2019. The French banking group, which has hosted IBM Cloud in its data centres for several years, is now extending the partnership with a new infrastructure initiative set to go live in 2028.

Under the terms of the expanded deal, BNP Paribas will establish a dedicated area within its data centres for IBM Cloud operations. This new environment is intended to enhance operational resilience, ensure redundancy for critical services such as payments, and strengthen data security in line with rising regulatory expectations.

The announcement comes amid growing regulatory pressure under the European Union’s Digital Operational Resilience Act (DORA), which introduces stricter requirements for financial institutions regarding business continuity and IT risk management. The expansion will further bolster BNP Paribas’ ability to manage risks associated with cloud service providers, a priority area under DORA. By retaining IBM Cloud within its data centres, the bank maintains a hybrid approach that combines the benefits of cloud scalability with direct control over infrastructure.

Rising investor confidence in FinTech

Saudi-based FinTech startup Nqoodlet has raised $3 million in seed funding, a round led by Waad Investments with backing from OmanTel, 500 Sanabil Investment, Oqal, and Seed Holding. This funding marks more than just capital—it highlights rising investor confidence in financial technology solutions tailored for the region’s underserved SMEs.

Co-founded by Mohamed Milyani and Yara Ghouth, Nqoodlet offers digital financial management tools to small and medium enterprises across Saudi Arabia and the GCC. The platform has already supported over 600 SMES, reporting an 80% improvement in financial operation speed and notable cost reductions.

The funding will fuel product expansion, boost banking infrastructure, and deepen partnerships, indicating that FinTechs solving local SME pain points are increasingly attracting serious capital.

NTT DATA has introduced ADAPTIS, a unified payment solutions platform, in Malaysia to meet the evolving digital and operational needs of businesses across Southeast Asia. ADAPTIS offers a comprehensive ecosystem that integrates in-store and online payments, business financing, and large-scale payment infrastructure. This launch comes after NTT DATA’s full acquisition of GHL Systems Berhad. The company plans to expand ADAPTIS to Thailand and the Philippines later this year, strengthening its regional footprint. Currently, NTT DATA Payment Services supports over 500,000 merchant touchpoints throughout the region.

What is the buzz

According to reports, Ripple has launched an upgraded version of its cross-border payments platform, now rebranded as Ripple Payments (previously RippleNet). The new solution aims to simplify international transactions for businesses by providing access to over 70 payout markets—including both crypto and traditional currencies—through a single onboarding process. The platform offers faster setup times, improved transaction performance, and enhanced support for crypto liquidity. It also emphasises ease of use and regulatory compliance, reflecting Ripple’s continued push toward mainstream adoption of blockchain-based payments. Initially available in the U.S., the company plans to expand Ripple Payments to additional global markets later in 2024 as part of its broader strategy to streamline and modernise global financial infrastructure.