Fintech is the new template for success in Banking
[vc_row][vc_column][vc_column_text] 2020 has helped customers preferred traditional banking to open up and experience the power of new-age banking and Fintechs. Today, customers are choosing a complete digital experience and are demanding better services and new products. This has motivated public and private banks to partner with Fintechs, rush up to meet consumer demands. Major Fintech […]
Demystifying Different Types of KYC
[vc_row][vc_column][vc_column_text]Understand the KYC types, their accessibility to financial institutions, and compliance safeguards around each of them from Authbridge, one of the industry experts on KYC.[/vc_column_text][vc_empty_space][vc_column_text]KYC or Know Your Customer / Know Your Client is a widely used process in the Financial services sector. From account opening, lending, collections, insurance issuance, securities trading to fraud and […]
How is DEPA transforming India’s Financial Landscape?
How is DEPA transforming India’s Financial Landscape? The Data Empowerment and Protection Architecture(DEPA) is a consent-based data-sharing framework created by NITI Ayog. Exponential growth in smartphones and reduction in internet bandwidth has generated tremendous individual data. This data encompasses both structured data and unstructured data. Structured data includes financial information, taxation, business, utilities, and unstructured […]
INDIA FINTECH FUNDING – FEB’21
The India Fintech Funding saw a huge push in the month of February with 13 startups raise total funding of $253 million, not including the debt funding raised by lending startups ProCap and Eduvanz.
TOP OPEN BANKING INITIATIVES IN INDIA 2020
The decade started with a lot of expectations and significant changes in the Banking sector. COVID has posed many challenges and changes to the business community, and the Banking sector was no different. However, Banking sector has realized the need for digitization, and seamless open banking infrastructure is the key to achieve it. This report […]
Are Banks Gearing up for Banking-As-A-Service?
Are Banks Gearing up for Banking-As-A-Service? Open banking has opened up a new collaboration line for Banks to forge a partnership with Fintechs and build new business models using a set of banking APIs. Fintechs have also lapped up these opportunities to create new business models like Neo Banks, Accounting Platform Embedded with Banking, and […]
Urban Cooperative Banks -An Era for Digitization
Urban Cooperative Banks (UCBs) are a critical part of the banking ecosystem in India. There have been approximately 1500 UCBs across India, including multi states and single-state operative banks. These have an overall depositor base of 8 Crore plus. Recent developments on legal framework changes and regulatory framework for UCBs would be transformative for Banks […]
Are you Setting up Lending Fintechs / NBFC : Where to start? Part 2
Getting it Right: Product Market Grip Credit needs are never the primary needs of the customer. Customers are driven by their need to buy a product like a car or a service. When we are building a Digital Lending business for a segment of our choice, we have to focus on the following elements: Customer […]
Open Banking Ecosystem
[vc_row][vc_column][vc_column_text] The banking ecosystem of India has undergone rapid changes in the past 5 years, moving from a traditional product-centric, inside-out approach to a consumption-based, outside-in approach. With the evolution of open banking, pioneered by BFSI players like Yes Bank, Kotak, RBL, etc, the ecosystem has now grown to include NBFC and other tech players […]