Due to the complicated, segregated legacy technology that makes up the operating system of the majority of banks, business banking clients frequently have a more difficult time obtaining a bank account than the average retail client. A fragmented, prone to error manual process not only produces a bad customer experience but also increases costs, complexity, and levels of dissatisfaction for…
Digital transformation continued to be an important trend in banking since 2018 and especially since the pandemic. Similar to its impact on other business domains, technology is rapidly changing every facet of the financial services industry. However, the sector still has a long way to go with a substantial percentage of banks are yet to launch a digital transformation strategy. …
The recurring payment collecting method in India has drastically changed since the introduction of e-mandates in 2018. E-mandate has simplified and made it much easier for lenders to collect recurring payments with a much reduced operational costs. So, what is this E-Mandate that almost transformed the recurring payments landscape in India? Let’s dig a bit deeper to know what it…
The world’s second-fastest growing digital economy, India, is also developing into a fintech and payments hub. Both public and private sectors in India are going through rapid digital transformation by embracing automation and advanced data analytics. The Impact of Demonetization and Covid-19 pandemic: The Fintech sector in the country is one of the industries at the forefront of transformation. India’s…
Real-time Payments are accelerating the speed, innovation, and efficiency of digital payment systems, as well as redefining the future of payments. The pandemic has boosted demand for faster transactions and better digital payment solutions across industries. Contextual commerce is becoming increasingly popular, allowing customers, workers, merchants, and suppliers to conduct business more efficiently and in line with their 24/7/365 lifestyle.…