Domestic fintech lenders gain business as Google cleans up China-backed apps
Indian fintech lenders grab turf from China as Google begins app clean-up Fintech players further claimed that out of the new applications received in the last two months, nearly 40-45% were from customers that had earlier dealt with China-backed lenders. Synopsis Most domestic fintech lenders that ET spoke with said that their business rose 20-40% month-on-month since December, when the crackdown started. Recently, Google pulled the plug on more than 500 instant-credit apps that had their roots in China and were not compliant with the central bank norms. With Google removing nearly 500 China...
Source: indiatimes.com