India’s SME sector has the potential to drive innovation and job growth despite the challenges faced by the economy. However, it is hamstrung by a lack of credit as small business owners do not maintain proper books of accounts and in some cases, do not have enough business experience either. The lending risk is difficult […]
Here’s What 2020 Has in Store for NBFCs
NBFCs have become an integral part of the Indian lending landscape over the years. Since their inception in the 1960s, they have helped to provide a range of financial services to consumers and businesses across the country. As of March 2019, the total number of registered NBFCs in the country stood at 9,659. Despite the […]
Neobanks: Pocket Friendly, Digital Only Banking
Neobanking is the next generation of banking that promises to alter how the world uses money. In a short span of time, neo bank startups have disrupted a lending market that had long been dominated by large public and private sector banks with extensive networks of branches and millions of customers. Neobanks are truly digital […]
Why Neo-Banks are Better than Traditional Banks?
The digital age has caught up with Indian banks at last. If the rise in digital payment volumes is any indication, consumers seem to have developed a preference for app-based banking which gives them greater control over how they manage their money, without restrictions. Customer expectations regarding financial services are changing rapidly. For example, penalties […]
Here’s How to Upgrade Your CBS with Effective Strategies
Very often, banks shy away from integrating advanced products like core banking solutions into their systems. Even if they don’t, most bankers associate the integration of modern technologies with escalated costs and enhanced risks. Core banking solutions are the core frameworks that are used to lodge all the withdrawals and deposits that the bank makes. […]
Common Differences Between Banks and NBFCs
Globalisation is on a steep rise, and businesses tend to turn complex, given this rise. To provide adequate support for these complexities, financial institutions have geared up to offer a range of financial products and services. Such financial institutions provide a strong foothold for businesses all around the world, especially so during the time of […]