There is a crucial need for widespread Fintech adoption. Payments have increasingly gone digital in recent years in order to address the burgeoning need for a seamless customer experience. Fintech companies have taken advantage of the strong banking and payments infrastructure in India to introduce a plethora of innovative products and services. Banks have increasingly adopted these new age solutions…
The concept of open banking has been around for at least 5 years now. Alright, but what is Open Banking? Simply put, it is a practice by which third party service providers are given secure expressly permissioned access to customer’s banking and financial data such as bank statement for the last few months, deposit details, credit facilities availed and repayment…
Digitalization of payments has emerged as a transformative force for small and medium entrepreneurs in India. In 2016, India launched its Unified Payment Interface which allowed seamless instantaneous money transfers across banks on its network. Savvy banking institutions developed their own Apps on the UPI infrastructure to improve their customer reach and experience. So, for the first time in India…
As a result of the advances in security technology and the evolving habits of customers, the payments industry is experiencing rapid growth. Advances in security technology and the evolving habits of customers has led to rapid growth in the payments industry. Here are 7 key trends that are redefining the future of payments. The Rise of Gen Z Reports suggest…
The introduction of Artificial Intelligence in banking has expanded the range of financial services available to investors. Artificial Intelligence makes financial services more easily accessible and personalizes financial transactions for investors. With AI-powered banking, spending, saving and investment habits are centered around your personal financial goals. AI-based banking helps financial institutions create futuristic banking products that can learn from your…