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Neo banks

The world of FinTech was already undergoing a transformation, even before the Covid-19 pandemic struck. The unprecedented lockdown situation only precipitated the transformation. The digital revolution so far has enabled large scale integrations through APIs to enable a range of services to the customer, be it food ordering, ecommerce, or investments. Though the adoption for…

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API ecosystem

From being obscure technical components to helping create a whole ecosystem that is at the heart of nearly all commerce and business today, APIs have come a long way. We inhabit an app-dependent world, and those apps in turn depend on APIs – application programming interfaces. APIs are the magic glue that connects to integrate…

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Banks and fintechs

When the global economic crisis happened in 2008, there was a sustained narrative of how disruptive and innovative FinTech companies would soon render established banks obsolete. While there has been an undeniable bloom of a variety of extraordinary startups that added tremendous value to the world, the larger picture has been that the old behemoths…

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Data Protection

Arguing that you don’t care about the right to privacy because you have nothing to hide is no different than saying you don’t care about free speech because you have nothing to say. Edward Snowden In the early twentieth century, oil was the world’s most valuable resource. It powered machines, cars, homes. Oil—petrol, diesel… powered…

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digital lending through APIs

Platformable, a consulting firm that helps companies and public bodies generate value through the use of APIs, recently published stats on the status of Open Banking which gives interesting insights especially on regional variations as also the products in favour. Two facts stand out- growth in the European region (29%) was driven by the mandate…

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AI in lending

“By far the greatest danger of Artificial Intelligence is that people conclude too early that they understand it.” ― EliezerYudkowsky Artificial intelligence is when a machine can think. It is that simple—when a machine is able to take in data, interpret and learn from it the way humans do, it is an artificially intelligent machine. AI…

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AA banking

2016: RBI approves a new class of non-banking financial companies to function as Account Aggregators (AA) to extract, aggregate, and transfer financial data with the express consent of users. 2019: Personal Data Protection Bill 2019 (PDPB) introduced in the Indian parliament to provide the legal backbone for AAs. 2020: PDPB yet to come into force,…

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Finance embedded

Though embedded finance is gaining headspace today, it is not a new concept. The traction is due to the recent spike in interest shown by venture capitalists, private equity investors and fintech companies. The changing attitude among banking customers, even among the old, who are now willing to look at non-banking finance, added to the…

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The story of banking licenses in India

In today’s digital era, the Indian banking sector is considered one of the most evolved banking systems in the world. With healthy competition thriving between the public and the private sectors, the banking sector in India has a variety of players that work within the ambit of varying banking licenses and legal frameworks. To understand…

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