Despite the significant contribution in strengthening countries’ economic growth and driving the engine of employment generation, the SME sector still toils to procure working capital owing to the unavailability of sufficient documents to demonstrate to the banks. Information with regard to the USP of business, balance sheet, products description, history of business operation, and business…
Open banking provides both a threat and opportunity for financial institutions in the future. Banks and credit unions can either sit on the sideline, or leverage the power of open APIs to compete with both small and big fintech providers. Regulations around open banking, like PSD2, will soon prove to be a boon for technology giants…
As transactions continue to leave the bank branch and the cost structure of supporting physical facilities places legacy organizations at a disadvantage, more banks and credit unions are considering a digital-only delivery alternative. Is this a viable strategy for the future? Digital transformation a survival strategy for banks today. Retail banks in the United States…
Facebook-owned messaging platform WhatsApp has recently launched its payment feature in India, allowing the country’s 200 million users to transfer money through the application. Today, India is one of the biggest markets for WhatsApp. Already having been threatened by the disruptive FinTech startups, banks in India are feeling the heat from the tech giant’s new…
India’s 57 million MSMEs employ 120 million people and contribute 45 percent of the nation’s industrial A less discussed side effect of demonetization is that banks are now sitting on an unprecedented sum of surplus deposits, an amount they are struggling to deploy efficiently. Since demonetization,the central bank has amassed a total of Rs.15.28 lakh…
Instead of basing the financial viability of banking services on a model that includes an over-saturation of branches, there is a better way to support inclusion while also increasing distribution and customer service. Agency banking can provide the best of physical and digital delivery. As Bank of America illustrated when they announced the discontinuation of…