December 5, 2016

Accelerating journey towards digital banking with a 'Bank within a Bank' model

Posted by Richard Longo (View Profile | View All Posts) at 4:47 AM

Businesses across various and diverse industries have seen rapid disruption in the past few years. One of the major drivers for this disruption is the consumer and how they are coming to expect a Frictionless approach. Some have called it the Uber effect. No cash is needed, it is on demand and simple to use. That experience is what customers are now expecting when interacting in the Ecommerce world.  Many traditional corporates are playing catch-up and some like Sears, JC Penny's, American Eagle, Sports Authority and Barnes & Noble cannot pivot fast enough, leaving them in a position of reporting negative growth or closing all together. Players like Amazon are disrupting their business models by leveraging the latest in technology and rolling out customer centric digital offerings. These offerings appealed to the digitally savvy customers and those companies have grown rapidly over the past few years. 

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November 30, 2016

The Impact of Blockchain Technology: Why Banking will Never be the Same

Posted by Peter Loop (View Profile | View All Posts) at 6:59 AM

Banking will never be the same, with distributed ledger technology. The industry is changing very rapidly. Banks are dealing with the most sophisticated customers in history, whose basic demands include speed, convenience, and personalization. The banking sector is facing unprecedented levels of regulation in the wake of the financial crisis, with regulators demanding greater transparency in banking operations. Economic uncertainty and slowing growth around the world are straining the core business, forcing banks to look at shoring up non-interest income. Last but not least, new, non-banking players are rewriting the banking landscape with their innovative, often disruptive, business models.

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November 10, 2016

By mutual consent: Why partnership is the way forward

Posted by Rajashekara V. Maiya (View Profile | View All Posts) at 8:00 AM

What is Brazil's Bradesco Bank doing with a blockchain-based digital wallet from a local startup? Why has UK challenger bank Metro tied up with peer-to-peer (P2P) lending pioneer Zopa? How does one explain India's state-owned Bank of Baroda - the country's second-largest player - partnering with financial technology (fintech) startups, such as FundsTiger and KredX, instead of fighting them?

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October 28, 2016

Why India is a poster child for global banking models

Posted by Puneet Chhahira (View Profile | View All Posts) at 9:56 AM

Digital disruption is paving the way for newer, more agile banking models and India is becoming the poster child for banks all over the world. Between the innovations in mobile and social banking, and progressive regulations, India has managed to leapfrog the legacy systems and processes that burden most banks in the world.  One of the most recent technology led revolutions in the banking front in India, was the launch of Unified Payments Interface (UPI), by the National Payments Corporation of India (NPCI). The UPI has the promise to be a game changer in the era of cashless payments. Imagine a scenario where you don't have to jump through all the hoops to make a payment, and just need a unique ID, similar to an email ID, to make a payment. Imagine a cashless transaction, that doesn't require you to type out your credit or debit card details.

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October 26, 2016

How Ready Are Indian Banks For Blockchain Adoption?

Posted by Rajashekara V. Maiya (View Profile | View All Posts) at 9:06 AM

Blockchain technology underlying the 'Bitcoin' crypto currency has created lot of buzz in the technology landscape compared to any other technology in the past. Perhaps, blockchain is considered to be the biggest disruption post 'internet'.

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September 19, 2016

Lessons from Big Brother: Banks can teach FinTech

Posted by Puneet Chhahira (View Profile | View All Posts) at 9:36 AM

The rise of financial startups has taken bank bashing to new levels. FinTech has become a metaphor for all that banks should but could never be. Enough and more has been said about what banks need to learn, not to mention fear, from their new rivals.

But there is always another side to every story, and the spate of FinTech-bank collaborations is proof of that. Why else would FinTech companies do a U-turn to partner with the same banks they were supposed to slay? The truth is that while financial startups are doing some things right, they still have a lot to learn and gain from their traditional banking rivals.

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August 29, 2016

The Rise Of The Better Indian Bank

Posted by Puneet Chhahira (View Profile | View All Posts) at 12:38 PM

Every month your bank reminds you that your credit card payment is due. But on the rare occasion that you forget to pay, I really doubt anyone bothers to check with you once more before slapping that late fee. Isn't that strange considering your bank knows you intimately - your bank balance, creditworthiness, the fact that you always pay on time - and therefore knows with reasonable certainty that this is a one-off slip up? Shouldn't the bank have at least shown you the courtesy of a call?

A bank that truly worked for the wellbeing of its customers certainly would have. This is what separates the better bank from the rest of the field. Unfortunately most banks do not live up to their promise of customer-centricity, or to their customers' expectations. That leaves the door wide open for non-banking players, such as Fintech companies, to take a quick share of the market by offering products, services, solutions and experiences that really work in their customers' favor. 

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August 2, 2016

Benefit with Blockchain

Posted by Rajashekara V. Maiya (View Profile | View All Posts) at 10:38 AM

Some of you might have heard of Blockchain. You might have read that it could disrupt and change banking, payments and other financial services forever. Perhaps you are wondering how it might affect you, especially if you are employed in the financial services industry. 

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July 28, 2016

P2P Lending Beckons Indian Banks

Posted by Anirban Dey (View Profile | View All Posts) at 1:49 PM

Who hasn't borrowed from a friend or family in times of need? P2P (peer to peer) lending concept is probably as old as money itself. But why is it attracting so much attention now?

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July 26, 2016

Winning the Digital Wallet War

Posted by Puneet Chhahira (View Profile | View All Posts) at 10:48 AM

The past couple of years have seen the launch of several mobile wallets in India, one of Asia Pacific's fastest growing markets in this space. Researchers forecast that the country's mobile wallet business will grow to about US$ 11.5 billion by 2022.

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