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 […]
Can Fintech-as-a-Service (Faas) Replace Banks in 2022?
Fintech-as-a-Service (FaaS) is making waves in this age of aggressive digitalisation. Traditional financial and non-financial companies use FaaS to make their solutions more effective and customer-friendly. FaaS uses cutting-edge technology to assist different industries, including lending, credit, and payments, overcome long-standing challenges. When you add in the growing popularity of digital systems like online financing, […]
Risks & Opportunities for India’s Economy with the Rise of Fintech
From significant regulators in Mumbai to Blockchain specialists in cities like Delhi, Bengaluru, and Hyderabad, multiple Indian metropolises are snagging the title of ‘fintech hubs’. With a boom in startup growth and a boost from governmental support, the Indian fintech industry has become a force to reckon with. However, the unprecedented rate at which the […]
Challenges and Opportunities Facing India’s Digital Microfinance
The Internet revolution and increased mobile penetration across rural markets have fuelled the emergence of digital technologies in India’s microfinance sector over the last decade. MFIs have now begun to adapt to new technology trends for faster loan origination, efficient customer service and delivering flexible lending requirements using alternate channels. The proliferation of low-cost mobile […]
Top 5 Mobile Banking Trends to Look Out for in 2022
While 2020 was marked with uncertainties for all the industries, 2021 was geared towards businesses adjusting their strategies for a once-in-a-lifetime pandemic. Digitisation of user experience, for instance, was at the heart of the pandemic-era innovation. The pandemic-led lockdowns urged people to adopt digital ways of performing routine transactions. As a result, “95% of transactions […]
The Rise of Co-Lending and How it Can Ease Credit Availability
Businesses need substantial working capital to maintain their cash flow, ensure smooth functioning, and boost profitability. With time, many small lenders have made a tremendous impact by availing credit to businesses in sectors such as small and medium enterprises (SMEs), agriculture and education. This has also led to difficulty in getting capital for non-banks to […]