Credit cards have always been a risky means of payment. There is always the possibility of loss, theft or misuse. Enter the virtual credit card. It is a digital proxy card ID that can be used instead of your physical credit card. They are a number of ways to avoid divulging personal information and overspending. […]
Effects of Mobile Banking on Digital Economy: Boon or a Curse?
Mobile banking has become a popular way for consumers to perform banking tasks today—from depositing checks and transferring money between accounts to paying their bills and setting up automatic payments. In fact, 82% of bank clients believe mobile applications enhance their financial lives. So what is the effect of this mobile banking boom on […]
Top 6 Pros and Cons of CBS in Banking
Financial transactions are much easier and more convenient today than in the 1970s. From anywhere, one can withdraw money from their bank accounts, open fixed deposits, or even trade on the stock market. Thanks to the CBS in banking industry, all of these faceless, timeless, and paperless transactions are now possible. Core banking software (CBS) […]
How Gromor Is Leveraging Account Aggregator to Upgrade Its Lending Process
Account aggregators are RBI-regulated entities that collect financial data from Financial Information Providers (FIP) like banks and tax departments and give access to Financial Information Users (FIU) like investment firms with customer consent. As many as 61% of the bank executives believe that a customer-centric model is “very important” in today’s digital age, as per […]
Top 4 Mobile Banking Risks and How to Mitigate Them
Shrinking sizes and expanding prowess, mobiles promise a great deal: calling, dating, job-hunting, working, and…banking. As a result, these portable powerhouses have irrevocably changed lives, corporations, and consumer behaviour. A greater demand for easy, all-around access to products and services has steered technological and communicative developments. So, a significant result has been the advent of […]
Why Mobile Banking Is a Must for Your Digital Banking Strategy?
An estimated 70% of Indian online adults with a bank account do their banking on a mobile app or website using their smartphone, according to data by Forrester research. The Covid-19 pandemic has expedited the already-existing need for a completely digitised world and brought it to the centre stage. For banks and NBFCs, the most […]