Connect with us

Technology

Fibe to offer credit access to last-mile consumers on the ONDC Network

Published

1 week ago

on

Salaried individuals can avail cash loans from INR 20,000 to INR 5,00,000

MUMBAI, India, Sept. 2, 2024 /PRNewswire/ — Fibe, India’s leading fintech, has integrated onto the ONDC Network to extend credit services to the underserved parts of the country. It has become one of the first fintechs to be onboarded on the Open Network’s financial services-credit category.

Fibe will offer cash loans ranging from INR 20,000 to INR 5,00,000 and help provide credit access to young salaried individuals at the last mile to fulfil their aspirations. This strategic decision will eliminate the lengthy paperwork process, allowing customers to avail a loan within just 6-7 minutes of applying for it online on the platform. Fibe has enhanced its infrastructure to ensure a seamless experience for customers on the ONDC Network seeking credit.

Akshay Mehrotra, Cofounder & CEO of Fibe, said, “We are proud to join the ONDC Network in its mission to drive financial inclusion in the country by catering to populations in the underserved markets. We are looking forward to leveraging the widespread reach of the Open Network to extend our offerings to every consumer in the hinterlands as well. We remain dedicated to empowering the youth, especially the salaried class, in their journey to fulfilling their aspirations. This initiative aligns well with our mission. Together with ONDC Network, we will continue to foster an ecosystem wherein every person has the necessary tools and support to thrive financially, thereby deepening our impact across the country.”

“We have recently launched financial services on the ONDC Network, and it is encouraging to see the expansion of these services with Fibe joining us,” said T Koshy, MD & CEO, ONDC. “This step enhances our efforts to democratize access to financial services, providing quick and seamless credit availability for consumers across the country, including those in remote and underserved areas. We are working towards simplifying the borrowing experience, driving financial inclusion and empowering every individual economically.”

Fibe has positively transformed the lives of over 25 million customers, significantly expanding its presence from 18 to 350 cities. Its mission to provide reliable credit solutions to Bharat has empowered countless individuals. It has disbursed more than 6.5 million loans worth over INR 22,500 crore since inception.

About ONDC:

Incorporated on 31st December 2021, Open Network for Digital Commerce (ONDC), a Section 8 company, is an initiative of the Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry, Government of India, to create a facilitative model that revolutionizes digital commerce, giving greater thrust to penetration of retail e-commerce in India. ONDC is not an application, platform, intermediary, or software but a set of specifications designed to foster open, unbundled, and interoperable Open Networks.

For further information, visit ONDC | Open Network for Digital Commerce

About Fibe:

Fibe (previously EarlySalary) is one of India’s leading consumer lending apps focused on young, aspirational, and tech-savvy Indian consumers. It is building a financial ecosystem that enables the mid-income group to fulfil their aspirations. It is an industry leader in the salary advance segment with the fastest processing time. It has launched a host of financial products like Cash Loans, long-term Personal Loans and Buy Now Pay Later plans. It offers a 100% digital loan application process that takes just seconds to complete. Its technology arm – Social Worth Technologies Pvt. Ltd. has partnered with Axis Bank to launch the Fibe Axis Bank Credit Card.

Fibe has grown multifold over the years and emerged as a market leader in providing financial assistance to young middle-income groups in India. Due to its highly scalable business model, Fibe recently has been upgraded to BBB+ by CARE Ratings and has been certified with ISO/IEC 2001 for its Information Security Management System (ISMS). Today, Fibe has access to debt lines to leading PSUs & Private Banks, Large Notable NBFCs and NDCs. The company has already disbursed more than 6.5 million+ loans worth Rs. 22,500 Cr+.

Winner of BW Festival of Fintech Lending Platform of the Year (Gold) and Fintech Brand of the Year (Silver)Featured in Economic Times Best Brand Award at the Best Brands Conclave 2022Winner of the BFSI Leadership Award at the 5th NBFC100 Tech SummitWinner of Young Indians Delhi Youth Conclave AwardDream Company to Work for in Fintech by HRM Asia Pacific CongressWinner of G20 Digital Innovation Alliance – Best Startup in Fintech

Photo: https://mma.prnewswire.com/media/2494429/ONDC_integration_FIBE.jpg
Logo: https://mma.prnewswire.com/media/2431986/Fibe_Logo.jpg

 

View original content to download multimedia:https://www.prnewswire.com/in/news-releases/fibe-to-offer-credit-access-to-last-mile-consumers-on-the-ondc-network-302235964.html

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Technology

Bruce Lee, LeBron James, and Global Icons Highlight Julien’s Auctions “Legends in Motion” Exhibition in Hong Kong

Published

37 mins ago

on

September 11, 2024

By

Exhibition Features Memorabilia from BTS, Kobe Bryant, Taylor Swift, Michael Jackson and More

HONG KONG, Sept. 11, 2024 /PRNewswire/ — Julien’s Auctions presents “Legends in Motion”, an exhibition and auction showcasing iconic memorabilia from global legends in sports, film, and music. The exhibition is free to the public at Pacific Place, Hong Kong, from September 14 to 27. Bidding is now open at www.juliensauctions.com, closing with a live auction at Island Shangri-La on September 28.

Key Highlights:

Bruce Lee:40 rare artifacts displayed for the first time in over 50 years.Items from Enter the Dragon, Fist of Fury, and The Big Boss.Key memorabilia include personal nunchakus, wooden dummy used for Wing Chun, and items reflecting his dedication to Jeet Kune Do.LeBron James:St. Vincent-St. Mary High School Basketball Jersey from his famous 2002 Sports Illustrated cover shoot, known as “The Chosen One.”Estimated value: US$1–$2 million; expected to set a world record for the highest-selling high school jersey.Limited-edition photo prints from the shoot by renowned photographer Michael LeBrecht.Kobe Bryant:Game-Worn Los Angeles Lakers Jersey from the 2013-14 NBA season (Estimate: US$80,000–$100,000).BTS:Outfits worn in their iconic “Life Goes On” music video (Estimate: US$60,000–$80,000).Taylor Swift:Autographed gold knee-high boots (Estimate: US$1,000–$2,000) and signed The Eras Tour fedora (Estimate: US$2,000–$4,000).Michael Jackson:”Thriller” era Bellmaster jacket (Estimate: US$40,000–$60,000) and a 2002 signed embellished jacket (Estimate: US$100,000–$200,000)AND MORE:Memorabilia from Lionel Messi, Freddie Mercury, Lady Gaga & others

Event Details:

Public Exhibition: Free at Pacific Place, Hong Kong.Dates: September 14 – 27.Hours: 11 AM – 8 PM daily.Live & Online Auction:Location: Island Shangri-La, Hong Kong.Date: September 28.

Time: 10:00 AM HKT (U.S. September 27, 7:00 PM PDT/10:00 PM EDT).

David Goodman, CEO of Julien’s Auctions, said, “We are excited to showcase artifacts from legends like Bruce Lee and LeBron James in our first-ever Hong Kong auction, with free shipping for global buyers.  This exhibition offers fans and collectors a unique chance to view these treasures up close before bidding.”

Various methods of payment are accepted.

 

Photo – https://mma.prnewswire.com/media/2502212/LEGENDS_IN_MOTION.jpg

Video – https://www.youtube.com/watch?v=ko45Ix47fX4

Video – https://www.youtube.com/watch?v=0lbpUB3sVhw 

Continue Reading

Technology

CLOU Electronics Signs BESS Warranty Service Agreement in Chile, Expanding the O&M Coverage into South America

Published

37 mins ago

on

September 11, 2024

By

ANAHEIM, Calif., Sept. 10, 2024 /PRNewswire/ — CLOU Electronics, a leading BESS system integrator, has recently signed a BESS Warranty Service Agreement with INGENOVA ASESORIAS S.A. in Chile. Under this agreement, CLOU’s subsidiary, CL Energy Company, will engage the contractor to provide warranty repairs, commissioning, maintenance, and logistics services for Chile BESS market.

As many countries today, Chile is witnessing a transformative period in energy, incentivizing through several initiatives the development of energy storage and electric mobility. Over the past year, the Chilean market has seen a surge in large-scale project announcements, driven by an ambitious goal of achieving 70% renewable energy consumption by 2030, significantly increasing the installation of renewable energy generation facilities, leading to a critical need for advanced energy storage solutions.

As a worldwide pioneer in storage technology, CLOU has played a crucial role in several landmark projects, from design to operation. Notably, CLOU was involved in the development of a 485MWh BESS in the Atacama Desert in operation since 2023, and recently has awarded a 420MWh from Transelec S.A., Chile’s leading high-voltage transmission system provider with over 80 years of experience. The project will be located next to the Granja Solar photovoltaic plant, close to Pozo Almonte, in the northern part of Chile.

CLOU’s Engineering & Procurement Package (“EP Package”) solution will offer far more than just system integration. It will deliver comprehensive support throughout the entire project life cycle, by means of a multicultural service team including engineers from CLOU, alongside with local partnerships with deep service training and experience. This is why CLOU has signed a BESS Warranty Service Agreement with INGENOVA ASESORIAS S.A.

Ingenova has 20+ years in the Chile BESS market, and is well recognized as an engineering, equipment supply and construction company in the electrical field, covering the infrastructure, water, mining and energy sectors.

As the customer demand are getting complex and lifecycle O&M is playing a crucial role for a project, CLOU remains deeply committed to meeting both the immediate and long-term needs. This new agreement will further enhance CLOU’s capabilities in project design, equipment supply, system integration, project delivery, operations and maintenance, and after-sales service in the south cone.

View original content to download multimedia:https://www.prnewswire.com/news-releases/clou-electronics-signs-bess-warranty-service-agreement-in-chile-expanding-the-om-coverage-into-south-america-302244495.html

SOURCE CLOU Electronics Co., Ltd.

Continue Reading

Technology

CLOU Electronics Releases Two Versions of the 5MWh+ Energy Storage System Aqua-C2.5

Published

2 hours ago

on

September 11, 2024

By

ANAHEIM, Calif., Sept. 10, 2024 /PRNewswire/ — The global leading energy storage system integrator, CLOU Electronics, has introduced its latest liquid-cooling energy storage system, Aqua-C2.5, during the 2024 RE+ exhibition in Anaheim. This next-generation system is designed to support grid stability, improve renewable power quality, and deliver optimized LCOS for future energy storage projects.

The Aqua-C2.5 represents CLOU’s cutting-edge innovation for the utility-scale energy storage market, featuring a large 314/320Ah LFP battery cell capacity. The system is available in two versions: High Voltage Box and String PCS, providing flexibility to suit different project needs. The Aqua-C2.5 integrates long battery modules in a compact 20-ft container, significantly enhancing power density and enabling it to reach a 5MWh+ nominal capacity.

Both the High Voltage Box and String PCS versions enable precise charging and discharging of individual battery racks, maximizing the system’s overall round-trip efficiency (RTE) by streamlining energy conversion between DC and AC. This boosts the system’s energy discharge capacity over its full lifecycle.

Additionally, the modular design of both the battery pack and PCS simplifies operation and maintenance (O&M), reducing time and costs while ensuring high system availability. Features like automatic state of charge (SOC) calibration also reduce power plant upgrade times.

The Aqua-C2.5’s long battery module configuration allows for back-to-back installation, saving valuable footprint space and ultimately lowering upfront investment costs while increasing project revenue.

A standout feature of Aqua-C2.5 is its advanced bionic thermal management system. This system automatically adapts to the battery’s operational and environmental conditions, ensuring optimal heat dissipation across both the PCS and battery modules inside the container. With a cell/module temperature difference of just 2.5 degrees Celsius, the system is built for long-term performance, offering a 20-year operational life with improved charging and discharging efficiency.

As the global renewable energy market continues to grow, maintaining battery cell consistency is increasingly critical for energy storage systems. Inconsistencies can reduce performance, increase safety risks, and shorten system lifespan. The Aqua-C2.5 addresses this with CLOU’s Smart Scales Intelligent Balancing Technology, which optimizes energy distribution through active balancing. This ensures consistent operating conditions for each cell, reducing deviations and enhancing overall system stability and reliability. Compared to traditional passive balancing, Smart Scales offers bidirectional energy control, fast high-current balancing, reduced energy loss, and optimized battery performance.

The Aqua-C2.5 is also engineered for durability with an impressive C5 anti-corrosion rating and IP55 protection, making it suitable for operation in 0-95% (non-condensing) humidity and temperature ranges of -30℃ to 50℃(optional -35℃). It can maintain 100% nominal power output even at altitudes of up to 4,000 meters. The liquid cooling system also keeps the sound pressure level low, with standard versions at ≤75dB(A) and optional versions as quiet as ≤65dB(A), ideal for noise-sensitive environments.

With over 30 years of experience in power systems, CLOU continues to set industry benchmarks in energy storage compliance. The Aqua-C2.5 has earned multiple certifications, including CE, UL1973, UL9540A, UL9540, IEC62619, IEC63056, IEC62477-1, UN38.3, NFPA855, and NEC, and has passed the rigorous IEEE693 seismic test. To date, CLOU has delivered 5 GWh of energy storage solutions globally, underscoring its success and reliability in the industry.

 

View original content:https://www.prnewswire.com/news-releases/clou-electronics-releases-two-versions-of-the-5mwh-energy-storage-system-aqua-c2-5–302244454.html

SOURCE CLOU Electronics Co., Ltd.

Continue Reading

Trending