Poverty is a significant economic problem in the majority of the developing world. In most rural areas of India, agriculture is the principal source of revenue. Agriculture employed 42.6% of India’s workforce in 2019. However, the rural community has been largely cut off from official financial institutions, resulting in poor performance Microfinance raises household income […]
What Makes CBS a Vital Component of Banking in 2022
Advancement in banking tech has enabled a significant shift in how banks operate. The implementation of the Core Banking System or CBS, for instance, is one of the most innovative developments that has revolutionised conventional banking systems. According to the Market Research Future (MRFR) research, the worldwide CBS in banking is highly lucrative and expected […]
The Coming of Age of Fintech-as-a-Service (FaaS)
With Fintech, the financial sector has rapidly adapted to the changing technology landscape. Fintech has enabled financial institutions and banks to provide personalised digital services. This increasingly popular solution is known as Fintech-as-a-Service (FaaS). FaaS provides a complete stack of payments, commerce, and financial services capacities integrated into any application – web or app. This article […]
How Collaborative Lending Can Extend Credit to the Underbanked
Governments globally have strived hard to usher in financial inclusion within their respective economies sustainably and responsibly. Yet, the undeniable truth is staring; most of the population has moved from being unbanked altogether to being underbanked. However, this large chunk of people can maintain bank accounts, perform transactions etc., on their digital devices, all thanks […]
Buy Now Pay Later (BNPL) Misconceptions Businesses Should Discard
Buy-now, pay-later (BNPL) services have grown in popularity in recent years, and amid the Covid-19 pandemic, it has witnessed a significant spike in customer growth. According to estimates, the global BNPL industry is expected to grow by 10-15 times, exceeding $1 trillion in the annual gross volume of goods. Millennials are now 37% less likely […]
Why Fintech Customer Service Is Crucial for Fintech Startups
Fintechs ideally live and breathe fintech customer service. Instead of clunky internet banking UIs, fintech often alludes to modern and intuitive interfaces and personalised customer support and experience. For a long time, the traditional banking industry has generated lousy press regarding customer support. This is because it has primarily been manual and has been driven […]