A bank statement gives a view of all the transactions undertaken by the account holder including deposits, withdrawals, transfers, debit card payments, interest earned, bank service fees, as well as the other installments they are paying over a fixed span of time. All prospective lenders ask for a copy of the applicant’s bank statement from […]
A Brief Trajectory of Fintech Revolution in India
Fintech is relatively a new term on the market. Gradually, it is shaping up into a massive industry that comprises both startups and prestigious financial institutions that strive to enhance the level of financial services. Credit cards were first launched in the 1950s, and it took ATMs a decade to change the way money was […]
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. […]
Open Banking Is Here and for the Better: Know How?
Digitisation is slowly yet steadily consuming all our day to day functions, in a quest to make them simpler to execute. Resultantly, we have life processes that are easier, faster and better all thanks to the tech influx. Even the economy, on the whole, has started to transition into a digital data-driven engine with its […]