Digital payments have become so commonplace today that consumers involuntarily reach out to their smartphones for making purchases for virtually anything and everything under the sun. It is no shocker that over 40 billion digital transactions amounting to a value of more than quadrillion Indian rupees were recorded in the financial year 2021 alone! In […]
What are the Differences Between Payment and PSP Gateways?
In the world of digital commerce, the need for integrated, multi-channel payments continues to grow. With billions of daily transactions, payment gateways are becoming the leading edge of security, functionality, speed, and reliability. In the same vein, payment service providers or PSP gateway are turning into invaluable team players for companies and eCommerce sites in […]
Critical Steps to Ace Your Bank’s Cloud Transformation
Ever since banking has gone digital, security risks have drastically multiplied. As a result, banks need to opt for high-end & secure data storage units that reduce the chances of malicious attacks and enable quick recovery. These factors (among others) have led many banks to opt for cloud computing and storage in recent years. As […]
Can Embedded Finance Democratise the Digital Lending Segment?
The past few years have seen the growth of financial services and digitisation via adopting newer methods for wealth management, payments, insurance, and lending. Consequently, the digital lending sector is undergoing a similar transformation to overcome traditional banking pain points and highlight financial inclusion by offering individuals, and businesses access to financial services and products. […]
Banks and FinTech: Rivals or Partners?
FinTechs are new-age disruptors challenging the traditional banking model leveraging innovative technology to meet user expectations. Their popularity is rising due to their excellence in mobile expertise, accessibility, convenience, and contextuality. Moreover, they have the edge over traditional banks primarily due to the mobile experience, as mobile devices are the most ubiquitous. As per Statista, […]
Google’s Entry in Indian Retail Banking: The Challenges & Implications
In a paper released in February 2019, the Financial Stability Board highlights the potential impact of BigTechs on lending institutions. As per the paper, India’s traditional home ground of the banks stands invaded! Amazon, Facebook, Google, and Apple, collectively referred to as Big techs, are the tech giants who already command a strong influence on […]