Posts Tagged ‘Banking’
Tech companies and the money foray
The growing indispensability of technology companies in the financial industry Global technology giant Google announced that it is entering the banking industry in collaboration with six partner banks to offer current accounts to US-based customers. The impressive list of banks were Citigroup, Stanford Federal Credit Union, Bank Mobile, BBVA USA, BMO Harris, Coastal Community Bank,…
Continue ReadingCentral banks and COVID-19 (Part 2)
In the previous blog, we read about the approach of the US and Indiato the Covid-19-led economic and financial slowdown. In this blog, we will look at two Asian countries, South Korea, and China, as well as the European Union and list out their policies to cope with the economic crisis. South Korea –…
Continue ReadingCentral banks vs COVID-19 (Part 1)
For most of this year, the entire world has been caught in the jaws of a worldwide pandemic of Covid-19. Entire countries have been shut down, and with the unlock measures creating a spike in new cases, many countries have started the second phase of lock downs in a desperate attempt to slow the spread.…
Continue ReadingWhy banks must warm up to APIs?
After enough has been written about the benefits of using APIs for banks, only one pertinent question remains: It now boils down to ‘When rather than Whether’ for API adoption by banks. In that pursuit, the biggest challenge seems to be – ‘how to monetize our API efforts?’ The simple answer is to figure out…
Continue ReadingThe Importance of UI/UX in the Lending Sector
“Design is not just what it looks like and feels like. Design is how it works.” – Steve Jobs This is the visual age. What you see is what you get. In a world where the ubiquity of connected devices have permeated every aspect of customer decision making, visual appeal is what makes or breaks…
Continue ReadingDigitization of the banking and lending sector in a post-COVID world
“Longevity in this world is being able to reinvent yourself or invent your future.” — SatyaNadella, CEO of Microsoft Corporation We are living through historic times. Stories about the Coronavirus lockdown will be told decades into the future; and things will never be the same for anybody. Every industry in the world has had to…
Continue ReadingWill the AI explain itself?
Will the AI explain itself? Though artificial intelligence has existed for decades, it has remained in the fringes for long, with few game-changing applications until today. That said, the current Covid-19 pandemic has moved the world towards embracing AI in as many ways as possible to compensate for the unprecedented restrictions. AI-based social distancing detection…
Continue ReadingDecentralized finance and the banking industry
“Absolute power corrupts absolutely.” — Lord Actor, British historian. Today’s financial world has become too centralized, which has resulted in a few enjoying all the privileges, and many left out of the system. The resulting unrest has birthed a revolution in the making, an antithesis to centralized finance, named aptly as ‘decentralized finance’. Here comes…
Continue ReadingBanking today and tomorrow
What is a bank? Well, the word comes from Italian ‘banca’ that simply means a bench or a counter behind which bankers sit and enable transactions. As simple as that. Cut to today, what does the word bank bring to your mind? The younger you are, the more chances there are that you recall the…
Continue ReadingSupply chain risks in banking
Supply chains- the value network consisting of sourcing of raw materials, manufacturing, outbound logistics, channels and demand management- took a massive beating from the pandemic. As COVID-19 related lockdowns overwhelmed country after country, firms and businesses experienced supply shocks in the forms of both disruptions to the availability of goods sourced from China as also…
Continue Reading