The Reserve Bank of India (RBI) introduced Credit Line on UPI in September 2023, a move designed to bridge credit gaps and make credit more affordable and convenient for the underserved population. Additionally, the decision could also encourage credit card users to switch to UPI credit lines, providing a seamless credit alternative other than conventional […]
Open Banking vs Platform Banking: Implications for Traditional Banks
Traditional banks often struggle to adapt due to a lack of innovation and personalised services, leaving them vulnerable to disruption. Open banking addresses these issues by securely enabling data sharing between banks and approved third parties via application programming interfaces (APIs). This collaborative method sharply contrasts with traditional banking’s siloed data model. India’s open banking […]
Should Lenders Adopt API Banking Over Traditional Banking: A SWOT Analysis
According to reports, around 87% of Indian households use fintech services. This has made banks and credit unions invest heavily in APIs, which act as digital bridges to securely share financial information and services. The latest PYMNTS data shows that 47% of lenders have already invested heavily in APIs in 2022. But why are the […]
API Banking in India: Intersection of Tech and Regulatory Frameworks
The Indian financial ecosystem maintained a guarded position for several decades primarily depending on traditional technology systems. Fast forward to 2024, the outlook has changed drastically, paving the way for new financial products and services backed by cutting-edge tech and innovative solutions including Application Programming Interface (API). API banking or banking-as-a-service (BaaS) is primarily driven […]
Open Banking in 2025: Emerging Trends and Future Forecasts
Open banking is a significant development that enables secure data sharing and collaboration between financial institutions, technology companies, and customers. It breaks down traditional barriers in finance by facilitating secure collaboration and data sharing between all stakeholders. As a result, this empowers customers, fuels competition, and drives innovation in financial services. As per estimates, the […]
Implementing Automated Bank Statement Analysis: Best Practices
Automated bank statement analysis is transforming the financial landscape, as paper-based statements have given way to online digital statements, which are more customer-friendly and prevent fraudulent transactions. In general, bank statement analysis involves scanning and reviewing financial statements to gain insights into a person or organisation’s financial health to ascertain their income and repayment capacity. […]