Mobile banking has become a popular way for consumers to perform banking tasks today—from depositing checks and transferring money between accounts to paying their bills and setting up automatic payments. In fact, 82% of bank clients believe mobile applications enhance their financial lives. So what is the effect of this mobile banking boom on […]
Mobile Banking Frauds: How Can Banks Help Prevent Them?
Mobile banking is revolutionising ways for people to access their accounts, thanks to its ease of use and flexibility. Consumers can deposit cheques, pay bills, transfer funds between accounts, and even send money to persons or businesses anywhere in the world using virtually any device with an internet connection. Unfortunately, this transformation in accessibility and […]
How Will AI Shape the Post-COVID Future of Financial Services in India?
The finance industry embraced technology with open arms ahead of time, only to earn an early mover advantage. The result is promising changes in the finance landscape. Today, products like chatbots, automation, data analytics, cybersecurity, and more are questioning India’s future in financial services. Technology battled the challenge of financial inclusion that the pandemic brought […]
Credit Underwriting Made Easy – A Comprehensive Guide
The lending landscape has not moved to digital. However, we are witnessing some industry-wide frictionless lending processes introduced by new tech-savvy market players. As a result, the total size of the lending market in India stood at ₹156.9 Lakh crores in the FY 2022-2021. Based on the trends in 2018-2021, it is a 100% hike […]
Top 6 Pros and Cons of CBS in Banking
Financial transactions are much easier and more convenient today than in the 1970s. From anywhere, one can withdraw money from their bank accounts, open fixed deposits, or even trade on the stock market. Thanks to the CBS in banking industry, all of these faceless, timeless, and paperless transactions are now possible. Core banking software (CBS) […]
Core Banking vs Retail Banking: What’s The Difference?
When a bank representative approaches us to open an account, they usually inform us that their bank provides core banking facilities. Similarly, when we log in for net banking, we’re asked if we’d like to use a retail or corporate login. Even though retail and core banking are critical components of today’s banking system, they […]