Traditional banks did enjoy a monopoly in financial markets for the longest time as they boasted of licenses and regulations to back them up. With the advent of globalisation, banking in itself has undergone a tremendous revolution of sorts. Today, there is an intense global competition, large markets to serve and the popularity of technical […]
The Impact of Fintech on Today’s E-commerce Sector
The year 1991 introduced the World Wide Web to the world. Fast forward to 1994; Pizza hut was the first significant business to offer online purchasing to its customers officially. Pizza Hut’s move was regarded as an essential milestone in the history of the internet and is often considered the start of ecommerce. The idea […]
FaaS: The Emerging Global Trend of Fintech-as-a-Service
All businesses aim to embrace the use of modern software technology to ease their core functions and enhance profitability. This includes lending businesses like banks, NBFCs, and MFIs. Fintechs are companies that are an amalgam of technology and financial functions to offer streamlined financial products/services that were previously available only through heavily-regulated, traditional financial institutions. […]
Are Banks the Next Big Data Giants?
Banks, as we see today, are fast leveraging the latest technology to be the best in the financial services market. Traditional banks often deal with too much data and find it difficult to declutter, structure, and analyze the vast database from their legacy systems. They increasingly feel the need to leverage data as efficiently and […]
Why Lenders Shouldn’t Shy Away from MSME Digital Lending
Micro, Small, and Medium Enterprises sector is the backbone for developing nations like India. In fact, Indian MSMEs are currently working to strengthen their presence across sectors while simultaneously expanding their footprint globally. The consistent progress of the MSME sector is closely related to India’s pursuit of becoming a global economic power. However, progress and […]
Role of Banks Statement Analysis in Lending Risk Management
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 […]