India has a fairly high economic growth compared to other developing and even some developed countries in the world. Despite this, the truth remains a major part of India’s population still remains unbanked. Consequently, financial inclusion has always been the major goal of the Government of India and the economic policies have been framed keeping […]
Can Neobanks finally find the path to Profitability in 2021?
The digital acceleration in retail banking has given rise to the generation of digital-only banks a.k.a. neobanks. These banks exist only in cyberspace and have no brick and mortar branches. These neobanks interact with their customers through digital channels and also focus more on the customer experience which differentiates their offerings from the traditional banks. […]
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 […]
How Account Aggregators are Becoming Consent Managers in India
The greatest benefit of the amalgamation of digital technologies is that data from various sources can be brought together in one place for better effectiveness. Even in the world of financial services, cutting-edge technologies that have been introduced have brought a shift in the consumer expectations of speed, safety, and security. This kind of varying […]
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 […]