Before the advent of computers and technology, lenders and banks stored customer and transaction data in physical ledgers and registers. The physical ledgers, along with other confidential documents related to customers, were stored in safe vaults and lockers, which were guarded by armed physical security forces. Since the advent of computers and subsequently, the internet, […]
How Digital Technology Can Modernise Wealth Management in 2021
Wealth Management is an advisory service provided by wealth management firms or consultants. In theory, the wealth manager is expected to be well aware of all aspects of financials, legal, asset management, estates, or property management. But practically, a single person cannot be an expert in all these fields to give solid advice in all […]
Top Fintech Trends to Watch Out for in 2021
It’s fair to mention that 2020 has been the year of disruptions in almost all industries. The pandemic that swept the world, totally altered the way businesses operate. Suddenly, remote and digital channels became primary for most businesses, especially during the times when there were strict restrictions in moving out freely. Some industries were heavily […]
Account Aggregators: Putting the Consumer First
To jumpstart economic growth in the post-pandemic environment, simplifying access to business loans for SMEs is a critical first step. The truth is India still lags behind the global average when it comes to loan origination and disbursal. According to a report by TransUnion CIBIL and SIDBI, the average turnaround time for a business loan […]
Should India Consider Introducing Digital-Only Bank Licenses?
Today banking has become an integral part of everyone’s financial activity, and digital banks in India have advanced to a greater extent. Digital-only banks are transforming the way customers used to view banking operations. New digital-only banks, also known as the neobanks, are being launched worldwide, including the US, Canada, UK, Germany, Hong Kong, and […]
5 Ways in Which Supply Financing Can Change the Way SME Get Financed
2020 has been a tough year for small and medium enterprises (SME) in India. With B2B customers delaying invoice payments well beyond the usual Net30 or Net60, i.e 30 to 60 days after the due date, maintaining liquidity became a huge challenge for suppliers. On the other end of the spectrum, many start-ups and small […]