Pine Labs appoints Nitish Asthana as President and COO

* * * * SAVE Solutions secures Rs 120 cr funding from Maj Invest SAVE Solutions, a business correspondent platform, on Monday said it has raised Rs 120 crore from Danish asset management company Maj Invest. The series B investment by Maj Invest will enable SAVE to address the rapid growth planned for its business correspondent network as well as provide growth capital for its two lending entities, a statement said.

Fintech firm Pine Labs on Monday said it has appointed Nitish Asthana as President and Chief Operating Officer. Joining the company's leadership team, Asthana will focus on accelerating the company's efforts towards technology innovation and increasing digital payment acceptance among merchants across India and Southeast Asia, a statement said. With more than two decades of experience in senior executive roles across payments, fintech and finance areas, Asthana previously served as the Managing Director (India and Sri Lanka) at First Data Corp, Fiserv. Pine Labs serves over 1.5 lakh merchants in 3,700 cities with over 4.5 lakh merchant touchpoints. * * * * SAVE Solutions secures Rs 120 cr funding from Maj Invest SAVE Solutions, a business correspondent platform, on Monday said it has raised Rs 120 crore from Danish asset management company Maj Invest.

The series B investment by Maj Invest will enable SAVE to address the rapid growth planned for its business correspondent network as well as provide growth capital for its two lending entities, a statement said. Founded by Ajeet Kumar Singh, Pankaj Kumar and Ajay Kumar Sinha, SAVE Solutions intends to make financial services accessible to underserved rural communities by offering them savings and lending products through its wide network of touchpoints located within their vicinity.

SAVE Solutions raised its series A round of funding from Incofin, a Belgium-based impact investor, in September 2017. * * * * Wibmo launches video-based customer identification process for banks Wibmo Inc, provider of payer authentication services, on Monday launched its video-based KYC (know your customer) solution 'Wibmo Video-KYC' to enable banks to digitally onboard their customers.   With Indian regulators opening up digital channels for KYC compliance, banks are looking at faster and more cost-effective ways to onboard customers, especially during the current COVID-19 pandemic, a statement said.   Headquartered in Cupertino, US, Wibmo Inc is a part of Nasper's PayU group of fintech companies and processes billions of transactions annually for financial institutions in over 20 countries..