Posts Tagged ‘data processing’
Together is better: When banks meet 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…
Continue ReadingThe World of APIs
If you are using a travel site to book flight tickets or an entertainment app to book movie tickets or simply making payments through your mobile, you are using APIs- the technical name for programs that help software systems connect with one another and perform tasks by sharing information. Closer to home, a telling example…
Continue ReadingHow FinTechs are rewriting underwriting?
Of the over 2000 FinTechs in India, only 4 find a place in the list of 20 plus Indian unicorns and none of them are in the lending business. There is something about lending that goes beyond technology; one, it requires large capital and continuous fund infusion and two, there is substantial risk which tech…
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 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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