After the pandemic hit the world, loan defaults have been on a steeper rise than before. Direct consumers and SMEs are still struggling to repay loan dues, and the crisis is going away anytime soon. Consequently, a major challenge that all banks and financial institutions face today is tackling the hidden non-performing assets. While retail […]
Tips to Identify Fake Document for Fraud Prevention
Criminal activities have increasingly utilised fake document or document forgery, resulting in billions of dollars being lost by the global economy each year. Countless reasons drive the creation of counterfeit documents, such as obtaining loans beyond their eligibility, buying or selling properties, acquiring loans, evading arrest, or staying in a country illegally. Even a few […]
How Cloud Technology Can Future-proof Digital Payments
The days when digital payments were used only for online shopping are gone. In the last few years, there has been a steady increase in digital payments even in brick and mortar shops and pavement shops. Digital payment is becoming a new norm even for common money transfers between two parties. With the restrictions in […]
Fraud Detection and Prevention in the Fintech Space
The Fintech industry is leading the digital transformation among all the industries. Gone are the days when customers visited physical branches of banks or NBFCs for every operational and transaction need. Today, almost all banks and NBFCs provide online services through multi-channels like web, mobile, tab, pos machines, ATMs, smartwatches, smart voice assistants, etc. However, […]
5 Ways Digitisation Can Help Banks and Lenders Ensure Customer Data Safety
Before the advent of computers and technology, lenders and banks stored customer and transaction data in physical ledgers and registers. The physical ledgers, along with other confidential documents related to customers, were stored in safe vaults and lockers, which were guarded by armed physical security forces. Since the advent of computers and subsequently, the internet, […]
How Digital Technology Can Modernise Wealth Management in 2021
Wealth Management is an advisory service provided by wealth management firms or consultants. In theory, the wealth manager is expected to be well aware of all aspects of financials, legal, asset management, estates, or property management. But practically, a single person cannot be an expert in all these fields to give solid advice in all […]