Banking Trends
The neo-kids in town
The current buzz in fintech is around Neo Banks and Account Aggregators (AA). Investor interest in Neo banks especially, seems to have spiked with about 8 players raising over $90 million in recent times. As for AAs, the news is that RBI regulations are getting in place and in-principle approval has been accorded to about…
Continue ReadingDigital Mortgage Lending
There are over 500 alternative lenders in India, next in volume only to payments players. While they may have filled the space left vacant by banks and NBFCs in SME financing especially, a surprising fact is that there are very few of them doing mortgage finance. Even globally, such as in the US where mortgage…
Continue ReadingRBI takes the digital route with video KYC
Digital revolution is here, and what more of a testament could one ask for than the RBI’s latest announcement. That’s right! RBI’s circular on January 9,2020 was the talk of the town not just among industry professionals in the BFSI segment but across the entire gamut of industrial ecosystem. Let us understand how this remarkable…
Continue ReadingIs digital lending the ‘GAME CHANGER’ in the financial block?
Did you know that India’s digital lending stood at US$ 75 billion in FY18 and is estimated to be US$ 1 trillion by FY2023? Astonishing, isn’t it? This exploding term (digital lending) is quite the buzzword in the world of digital transformations. But how exactly does this trend transform the lending game? Well, it’s time…
Continue ReadingPrioritizing customer centricity for a better marketing and sales strategy
Customers are critical assets to any business entity. Before recent times, lending institutions focused on building better relationships with their customers. The customers, in turn, relied on these firms for sound financial advice before making any investment, purchase or debt-related decisions. With the rapid evolution in the sector in recent years, lenders have overlooked this…
Continue ReadingHow tech innovations reshape banking in India!
With the evolution of modern technology, financial institutions are taking advantage of this to be more engaging with their customers! Technology is already transforming the financial sector, and the traditional ways of banking will grow old in the next 5 years! There have been numerous growth opportunities when it comes to safe banking like advanced…
Continue Reading3 marketing-driven strategies retail banks can adopt to enhance their value-chain
“Packaging and branding of products and services are going to be the key differentiator between banks,” said Dr. K.C. Chakrabarthy, Deputy Governors (2009-2014) of Reserve Bank of India (RBI) Retail Banks are one of the key factors behind the rapid growth in Indian banking sector. The prime focus of every retail bank in India,…
Continue ReadingHow a Credit Card Processing System works:
Credit card transaction process might seem very simple wherein a customer swipes the card and a transaction or withdrawal (process) is done. But behind every single process, there are more complex procedures. Earlier, credit cards were processed manually by taking a print of the customer’s credit card information and transmitted through phone or internet. This…
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