Xiaomi announced Mi Credit, its digital lending solution in India. Mi Credit is Xiaomi’s second Mi Finance solution to be launched in India after Mi Pay.
Mi Credit is an online curated marketplace for lending, to offer the best personal loans to Mi Fans. The current lending partners are primarily NBFCs or Fintechs such as Aditya Birla Finance Limited, Money View, EarlySalary, Zestmoney and CreditVidya. It’s built as the first personal loan choice for aspirational young professionals and millennials. Mi Credit solves most challenges associated with the traditional lending industry with a 100% digital experience.
Mi Credit provides an easy application process for securing loans, with an intuitive interface. First time users can complete the digital application form within five minutes, and repeat customers can avail a loan with one click disbursement. Once the loan is approved within minutes, the consumer has the option to choose the amount and the tenure of the loan. The digital advantage also shows in realtime disbursement of loans and lower interest rates. Since Mi Credit is designed as a platform with multiple lending partners, it ensures higher success rate, with higher loan amount at a lower interest rate than any other existing solutions in the market.
Mi Fans can also check their credit score instantly on the app, for free, a service which is powered by Experian. Experian is a global leader in consumer and business credit reporting. All user data on Mi Credit is stored securely in encrypted format in India through our partner Amazon Web Services Cloud Infrastructure.
Hong Feng, Co-Founder and Senior Vice President, Xiaomi Corporation / Chairman and CEO, Xiaomi Finance on the global launch of Mi Credit outside China, “Xiaomi’s Mi Finance business started four years ago in China, with an aim to provide Fintech innovation for everyone. We are committed to be the comprehensive financial partner for our global Mi Fan community, retail partners and manufacturing Industry. Today, we have over 300 million Mi Fans in our global community and having understood their consumption behaviour – it is one of the strengths we aim to leverage to build a stronger Mi Finance business globally. We see a huge opportunity for consumer lending in India with estimations reaching up to $1 trillion dollars in digital lending by 2023, as per a report from BCG. This makes us believe that our Mi Finance business, based on solutions such as Mi Pay and Mi Credit can truly revolutionise the Indian FinTech industry.”
Manu Jain, Vice President, Xiaomi and Managing Director, Xiaomi India further added, “In India, the lending industry is on an explosive trajectory. As per a recent report from CIBIL, there are over INR 4 lakh crores worth of personal loans outstanding from nearly 1.9 crore customers, with each user accounting to an almost INR 2 lakh of outstanding amount. Of these 1.9 crore customers, majority tend to avail it for medical emergencies followed by shopping, wedding, travel and education purposes. We are bringing Mi Credit to India hoping to provide yet another innovative and truly digital solution for their lending needs.”
Mi Credit has been running in India in a pilot format, and has already disbursed loans of over 28 crores (approximately ~1 Cr / day) in November 2019. Over 20% of the users have availed the highest amount of loan INR 1 lakh. Currently, Mi Credit services more than 10 states spanning across 1,500 pin codes, and aims to expand its availability to 100% of the pin codes (more than 19,000 pin codes) by the end of FY2019.
Mi Credit app comes preloaded on all MIUI phones, and can also be downloaded from Google Play Store and GetApps, Xiaomi’s own app store.
Mi Pay is a UPI based payment app available on all MIUI phones, and can be downloaded from GetApps and Google Play Store. It was launched in India in March 2018, and within nine months has already captured over 20 million registered users.
Yahoo Cricket Brings India’s First Super App for Cricket Fans
Yahoo Cricket is creating the first-ever super app for cricket, bringing together fan-favorite experiences and services all in one place.
Cricket fans today are engaging in different ways with the game, going far beyond consuming news and content. They are interacting with friends and family using social media apps, playing on fantasy apps and shopping for cricket merchandise on eCommerce apps. For everything they love around Cricket, fans currently need to go to a different app. On Yahoo Cricket’s super app, users can get the latest scores, commentary and news, but also play free fantasy with their friends, interact with a community of like-minded cricket fans, immerse themselves in the game through polls, quizzes, archival data and do much more — all from the convenience of a single super app. Now with a brand new Match Center in Hindi, the app delivers a more enjoyable experience for our users. Yahoo Cricket, a Made in India product, can be accessed by Yahoo’s global audiences — enjoyed by Cricket fans as part of Yahoo Sports.
“The fan experience is fast evolving in a virtual world, with the mobile at the center of this evolution. We see the opportunity to create a more seamless, integrated experience that brings together everything a cricket fan needs, wants and enjoys, in one place. The first-of-its-kind Yahoo Cricket Super App will revolutionize the experience for fans, giving them efficient access while combining context with convenience under one umbrella,” said Nikhil Rungta, Country Manager, Verizon Media, India.
Yahoo Cricket’s Super App deeply immerses users in the game. Yahoo Cricket covers every match holistically in its Match Centre with pre-match fantasy statistics, detailed scorecard, ball-by-ball commentary, match and player graphs and live polls. The match centre is designed for an elevated second screen experience to engage fans. Now, Yahoo Cricket is bringing this match centre experience in vernacular languages, starting with Hindi — users can now switch to Hindi for World Test Championship Final.
Key features / elements of Yahoo Cricket’s Super App include:
- Match Scorecard and Ball-by-ball Updates in Hindi: Cricket fans can experience the entire match in hindi, for a much more enjoyable experience.
- Play free fantasy Cricket with friends: Fans can play with friends and family by creating their own private clubs for any match or series absolutely free. Yahoo Cricket’s fantasy game is designed for passionate Cricket fans to showcase their knowledge of the game. Users can track their friends’ fantasy points live during a match, maintain history for their club and even share club leaderboards on chat and social sites.
- Fantasy Research Advantage: Fantasy Insights, a user-favorite feature, gives team statistics for every match on Yahoo Cricket. Users can find Fantasy Insights for all international, domestic and even smaller leagues on Yahoo Cricket. Users can find all the details in one place to make better decisions and win on any fantasy platform.
- Real-time Fan Polls: Yahoo Cricket users can participate in live polls during the match on its match centre. Users can predict the outcome of the match, answer brain teasers and quizzes along with other Cricket fans that make the match experience more enjoyable.
- Deep Data Archives: Yahoo Cricket has granular archival match data from 1882-83 Ashes for the Cricket obsessed. Fans can even view player statistics for every series, including India’s historic Test, ODI and T20 wins.
- Next-gen immersive: Yahoo Cricket is also redefining how fans ‘experience’ a match. Upcoming immersive elements include graphic 3D scorecards, Virtual Reality (VR) replays and 360 views of a points table, powered by proprietary immersive technology built on Augmented Reality (AR) and Virtual Reality (VR).
With a reduced app size, users can enjoy a slew of fan-centric features on the Yahoo Cricket app this cricketing season, besides following live cricket scores, ball-by-ball commentary and real-time cricket news and updates. The Yahoo Cricket App is available for download on Google Play and the App Store.
Edit and Create Your Own Video with New Video Editing App ‘MontagePro’
The founders of Mitron TV have launched an advanced video editing application, ‘MontagePro’. The video editing application has been primarily designed for content creators offering premium video editing services for free. The app includes more than 300 premium effects and filters and enables creators to export videos at 60 FPS HD without watermarks. MontagePro is available globally on Google Play and has crossed over 500K downloads.
Targeted at budding and advanced content creators as well as editors, the free all-in-one video editing app offers superior features that are clutter-free with a simple UX and UI for first-time creators and advanced features and effects for skilled creators. The easy to install application provides unique features like PiP (Picture-in-Picture) that allows users to embed another video in a section of their primary video clip, enabling users to upload the same video to multiple social media handles without disrupting the original resolution.
Moreover, users can add custom watermarks of their own from an existing image file while controlling the size, angle, and opacity or export and download videos without any watermark. While exporting the videos, users can choose the desired aspect ratios. The app’s music library comprises trending sound effects to suit all kind of moods & occasions with volume control settings. The app is designed to meet the smallest needs of creators and editors such as trimming, filters, adding text, blur, doodling, speed control, beauty controls, sticker support, amongst others. In addition to high-quality, exclusive features, MontagePro is looking to expand its asset library such as filters, effects, new text styles, and updating the existing music library.
Commenting on the launch of the application, Anish Khandelwal, Co-founder & CTO, Mitron TV, said, “Our aim as a UGC platform is to keep up with advanced technology and on-demand requirements. With our keen focus on building the creators’ ecosystem, all our efforts have been and will continue to be directed towards developing technology solutions for the creator community. There are multiple video editing apps, but when a creator or editor edits a video, he has to pay for several features. We believe that a creator should be given unique opportunities to showcase their creativity. Hence, all the features of MontagePro come for free and it is a one-stop destination for all video editing needs. With MontagePro, we aim to serve the global market by tailoring and simplifying editing tools to meet today’s growing user needs.”
Commenting on the launch of the application, Rumit Anand, VP of Product, Mitron TV said, “The growing demand for video content has compelled content creators to go mobile-first, and with MontagePro we see an opportunity to be strong enablers of this evolving ecosystem”.
He further added, “Since the beginning, our primary goal has been to translate complex editing into simple and usable features that anyone can use. MontagePro was thus created to serve the entire creator ecosystem, from novice to advanced creators. The video editor is at par with global standards and offers custom export settings for easy sharing, as well as the option to customise or completely remove a watermark.”
Digital transformation has continued to drive all industries in the last one year. As per the latest LinkedIn’s ‘Jobs on the rise’ list, content creation is becoming an increasingly popular career for young creators as the demand for local and relevant content is growing. With the increased consumption of content, the MontagePro app from the makers of Mitron TV will help empower and simplify the entire editing process with its avant-garde technological features that will benefit the creator’s community.
Tinder Now Allows Users to Block The Contacts
Whether it’s a former flame, a cousin, or a colleague, just about everyone has a personal connection they’d rather not run into when dipping their toe in the dating pool. In fact, a recent survey commissioned by Tinder found that more than 40% of respondents have come across an ex-partner on a dating app. Another 24% have seen a family member or colleague, and one in ten have even encountered their professor’s profile. Awkward. Given the chance, 78% of those surveyed would prefer to not see, or be seen by, these connections on an app. With this in mind, Tinder is rolling out a new feature that allows members to block personal contacts in the app, empowering them to confidently Like their way to sparking new connections while avoiding the awkwardness of a familiar face they would rather not see.
The new Block Contacts feature, which gives members more control over their experience, is launching just in time to help consumers navigate this year’s wave of springtime uncouplings. Known as “Uncuffing Season,” the annual onset of warmer weather compels hibernating couples to cut ties just in time to enjoy an unattached summer season. The notion of uncuffing isn’t a new phenomenon either, 63% of survey respondents agree summertime is the best time to be single. However, the prospect of a somewhat normal post-pandemic summer has inspired 2021’s “Great Uncuffing.” So much so that the same study found that more than 40% of those surveyed would consider breaking things off with a partner ahead of summertime, and over half of its Gen Z respondents had already bid farewell to their pandemic partners this year.
“We may not be able to save you from awkward run-ins at the coffee shop, but we are giving you more control over your experience on Tinder,” said Bernadette Morgan, Group Product Manager, Trust & Safety at Tinder. “We’re rolling out Block Contacts as an additional resource empowering members with peace of mind by helping create a worry-free space for them to spark new connections.”
Members everywhere will be able to access Block Contacts within their profile settings. From there, they can input which of their contacts they’d rather not see, or not be seen by, on Tinder. Whether those contacts are already on Tinder or decide to download it later using the same contact info, they won’t appear as a potential match. Initially tested in India, Korea and Japan, members who adopted the Block Contacts feature on Tinder added about a dozen contacts to their block list.
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