Why is India spearheading the Fintech Revolution

The acceptance and adoption of a paperless and digitized approach have led to a transformation in the banking industry. Fintech has acted as a facilitator in promoting an unconventional approach to money matters. With 6,639 Fintech in India of which, 21 of them stand tall as unicorns, India is the third-largest Fintech-related ecosystem in the… Continue reading Why is India spearheading the Fintech Revolution

Machine learning techniques for the detection of financial fraud

The financial ecosystem has seen a tremendous extension since its formal inception in the year 1770 with the establishment of the Bank of Hindustan. Mere services grew to a full stack of financial services and with the digital revolution, services have been shifting online. Digital banking forms are rapidly increasing across the globe. Payments companies… Continue reading Machine learning techniques for the detection of financial fraud

5 Reasons Why You Should Take a Top-Up Loan

Walking with a population of 136 crore Indians with contrasting needs and demands means innovation must be at its finest! To date, traditional banks have taken care of the needs but with Fintech joining hands, services that place customer centricity in the high-importance grid have grown manifolds. The financial world has crossed the road from… Continue reading 5 Reasons Why You Should Take a Top-Up Loan

Lord of the Rings or Collab with the Fintech?

India owns 12 Public Sector Banks (PSBs), 21 Private Banks (PBs) and 43 Regional Rural Banks (RRBs) as of January 2022. Amongst these, only a handful was constituted in recent years while the majority are age-old banks with legacy data, frameworks and policies with long-in-the-tooth customers. These banks have managed to remain cemented in the… Continue reading Lord of the Rings or Collab with the Fintech?

Strategic initiatives and the winning game of Wealth Tech

Wealth Management has been an invariable part of society. From saving money in piggy banks to saving it in bank accounts, society has always had the ‘Save The Money’ ideology. With evolution, the brick-and-mortar model of savings converted into tech-driven options that we know today as WealthTech where individuals can save and invest through a… Continue reading Strategic initiatives and the winning game of Wealth Tech

Financial Inclusion and Its Impact on Financial Efficiency and Sustainability

The Indian regulators are cognizant of the significance of financial inclusion to achieve economic growth and the fact that to achieve the said objective, equitable growth opportunity through inclusive financial services is primary. India being a diverse country with a noticeable disparity in income and education across levels acts as an opportunity and challenge both,… Continue reading Financial Inclusion and Its Impact on Financial Efficiency and Sustainability

The MSME and Rural India Landscape

Financial inclusion is a key determinant for the development of an economy. However, increasing financial services penetration by setting up Tier II & III cities branches leads to high customer acquisition costs for banks and NBFCs. Additionally, the high cost of delivery, small transaction sizes, lack of credit history, and documentation among rural individuals &… Continue reading The MSME and Rural India Landscape

How can the banking industry respond to the threat of disruption?

The concept of credit cards emerged in the 1950s and thus began the phenomenon of competitive financial services and innovative banking. Thereafter, with the initiation of internet banking in the 1990s and digitized payment technology recently, the financial ecosystem has undergone an absolute change. Until recently, traditional banks ruled the financial ecosystem but with the… Continue reading How can the banking industry respond to the threat of disruption?

How Technology Is Transforming Lending and Shaping A New Era of Small Business Opportunity

India is a land of extensive opportunities and a home to 6.3 crore MSMEs; a significant chunk of the population and needless to say, an essential part of the economy. These MSMEs indulge in several kinds of businesses and yet they all face a similar challenge- access to capital. Formerly, banks were a traditional source… Continue reading How Technology Is Transforming Lending and Shaping A New Era of Small Business Opportunity

Who are the Fintech Borrowers?

India as a market is fairly complex and dynamic in terms of geography, consumer behavior and preferences. The consumer market is vast and diverse for any given product or service. Needless to say, the unifying force in all these segments is the acceptability and usage of mobile connectivity, application and platform. Fintech has anchored a… Continue reading Who are the Fintech Borrowers?

The journey from KYC to e-KYC and now Video KYC

The Know Your Customer (KYC) policy is a mandatory framework for the financial ecosystem used for the customer identification process. To comply with international regulations, Know Your Customer procedures need to be implemented in the first stage of any business relationship when enrolling a new customer. Primitively, KYC was an in-person inspection process but with… Continue reading The journey from KYC to e-KYC and now Video KYC

Budget 2022, Finance and Inclusion

India’s Finance Minister Nirmala Sitharaman presented the Union Budget 2022-23 in Parliament on the 1st of February, 2022 where she disclosed key highlights of India’s plans toward being a financially inclusive country. The focal concern has always been financial inclusion since it is directly related to the growth of an economy. The Budget 2022 speaks largely… Continue reading Budget 2022, Finance and Inclusion

The importance of Insurance

The year 2019 and forward witnessed an impact never anticipated or felt before globally. It sent out waves of disruption for individuals, society, businesses and the economies across the globe. Where a majority of individuals, businesses and economies grappled, a few thrived therein. A specific domain that witnessed a transformation has been the insurance industry.… Continue reading The importance of Insurance

Financial Inclusion through Financial Technology

The general concept of financial technology is the adoption of products and services by companies that are fully digitized and online in the financial sector. Financial technology has evolved into a more specific, focussed and strategic role owing to its wider objective, i.e., catering to the financial needs of the underserved; the core target segment… Continue reading Financial Inclusion through Financial Technology

Creating Value through Technology

The amalgamation of Finance and Technology has given birth to Fintech. Needless to say, technology is the backbone of the Fintech business. Whether product delivery, customer experience or service as a whole, technology is an intrinsic part of Fintechs. Niyogin, built differently and making a difference, offers credit modules, a wealth tech platform, rural tech,… Continue reading Creating Value through Technology

Financial Empowerment

A financially empowered India; a vision several Fintechs hold albeit only a handful is vigorously working towards it. Niyogin, a unique early-stage public listed company is striving to empower millions of aspiring individuals and small businesses to transform their dreams into realities through an ecosystem of products, partnerships and exceptional customer experience – all powered… Continue reading Financial Empowerment

5 Uses of Financial Analysis

Financial analysis is the assessment of viability, stability and long-term profitability of a business or a project. The reports are prepared using ratios and other techniques obtained from financial statements and other significant reports. Financial analysis indicates the financial health, performance and prospects of a business. With the help of historical data and projections, financial… Continue reading 5 Uses of Financial Analysis

What is credit risk underwriting and what are the models widely used?

The principal objective of financial institutions is to provide individuals and corporations with financial assistance. However, while doing so, the said financial institutions must safeguard themselves from underlying risks. Credit risk underwriting is the process through which financial risk is gauged with the help of data extracted from clients. It typically involves loans, insurance, real… Continue reading What is credit risk underwriting and what are the models widely used?

Key Functions of Retail Banking VS Corporate Banking

Retail Banking and Corporate Banking; two established dominant verticals in the financial ecosystem cater to business-to-consumer (B2C) and business-to-business (B2B) segments of society. The retail business is a model built for the general public while the corporate banking model aims at MSMEs and large-sized businesses. Key Differences Key Basis Retail Banking Corporate Banking Nature of Products… Continue reading Key Functions of Retail Banking VS Corporate Banking

The BIG move by RBI; Fintech in a spot or being put at the right spot?

The Working Group formed by RBI in 2021 acknowledges the potential that digital lending holds in the realm of finance. Digital lending has provided unique solutions and services in recent years. Moreover, it has also showcased the ability to hold the crowd together and promote the prowess of financial inclusiveness. However, recent announcements by RBI… Continue reading The BIG move by RBI; Fintech in a spot or being put at the right spot?

India’s future: Cryptocurrency or Central Bank Digital Currency?

The provision of Central Bank Digital Currency (CBDC) has been circulating for quite some time now globally. For instance, China has already issued digital currency, eCNY, as a part of its third trial; a concept they have been working on since 2014. At present, China is leading amongst G20 countries who are still exploring the… Continue reading India’s future: Cryptocurrency or Central Bank Digital Currency?

5 ways how technology has enabled financial modelling and forecasting

website small five ways how technology is changing financial modelling and forecasting

There is a common notion that ‘technology’ is a separate physical entity. They don’t view technology as an element that can possess variable characteristics, for instance- forecasts, probability statements etc. Technology is considered to either exist in a given situation or not. It is seldom seen as a paramount and prerequisite to other components it… Continue reading 5 ways how technology has enabled financial modelling and forecasting

The New Age Finance: InsurTech

The world is well versed with the word ‘Fintech’; an industry that has disrupted the financial ecosystem. It has been an aggregator and given rise to various branches we refer to as InsurTech, WealthTech, RegTech, etc. The convergence of existing service with technology has introduced us to ‘Tech-led’ products and services. InsurTech; a short form… Continue reading The New Age Finance: InsurTech

What is the future of Cryptocurrency?

The cryptocurrency was first introduced in the year 2008 after the financial crisis that shook the entire world. It gained momentum in India post-2015 after it showcased the potential it holds. At present, over 15 million people own cryptocurrency in India with total holdings of around Rs 400 billion. Moreover, cryptocurrency has massive institutional buy-ins… Continue reading What is the future of Cryptocurrency?

Fraud Detection and Prevention in Fintech

Artificial Intelligence and Machine Learning are paving the way to a melange of financial services, products and transactions online. It is allowing a course into the digital realm that was otherwise unexplored. The implementation of advanced technology has led to an astounding increase in businesses that specialize and embed financial transactions online. This shift has… Continue reading Fraud Detection and Prevention in Fintech

Financial Planning: Economy, Businesses and Households

The volatile global financial scenario has challenged many of our convictions about the financial sector. The fundamental; financial literacy has enabled this change in belief. It is imperative developing and developed economies partake in this transformation through financial literacy thereby successfully indulging in financial planning. The Economy There is practically no country that has developed… Continue reading Financial Planning: Economy, Businesses and Households

Banking for Teens

Banking for teens; a new wave by Fintechs is all about tapping the untapped! With over 2000 Fintechs competing in the digital space, innovation in every segment seems inevitable. Earlier traditional banks had acknowledged this unpenetrated market of kids, teens and tweens as well. They introduced services such as junior accounts to serve the said… Continue reading Banking for Teens

Financial Inclusion: Concept and Measurement

The concept of financial inclusion was first introduced in India in 2005 by the Reserve Bank of India. It strives at offering banking and financial services to economically underprivileged individuals. It aims to elevate the socio-economic status of individuals regardless of their income or savings, ensuring the marginalized make the best use of their money… Continue reading Financial Inclusion: Concept and Measurement

Can Microfinance lead to Women Empowerment

Microfinance is recognized internationally as a tool to combat poverty and augment rural development by creating awareness and empowering women which ultimately results in the sustainable development of the nation. As per the census, women have been the most underserved, underprivileged and discriminated strata of the society around the globe. Empowering women begins with changing… Continue reading Can Microfinance lead to Women Empowerment

The New Age Finance- Wealth Tech

The term ‘WealthTech’ was coined in the early 21st century with the convergence of Wealth with Technology. The concept of wealth management evolved to be known as ‘WealthTech’. Elements like artificial intelligence, big data, SaaS allowed a transformation in the ecosystem of hedging. WealthTech has allowed individuals to ‘personalize’ their finance. By automating and increasing… Continue reading The New Age Finance- Wealth Tech

Can Crypto lead to Financial Inclusion?

 Crypto was introduced to the world in the year 2009 as Bitcoin that aimed to become a decentralized mainstream peer-to-peer payment network and digital currency. Since, several other crypto currencies were introduced that function similar to capital market. Individuals can buy and sell these digital currencies swiftly and real-time which gave rise to the possibility that… Continue reading Can Crypto lead to Financial Inclusion?

Fintechs Fighting Fraud and Risk Through Artificial Intelligence

Disruption; an aggregator of a number of changes brought about a change in the banking after the crisis of 2008-2009. The crisis revealed loopholes in the banking system and how technology and innovation was the way forward. Whether newer products and services or operations, innovative technology held the potential to improve the overall scenario in… Continue reading Fintechs Fighting Fraud and Risk Through Artificial Intelligence

Traditional Banking: Rise or Collab?

Acceptance of Fintechs is on an upward trajectory owing to digitization in the financial world and with customers embracing the change, the shift is evident. Artificial intelligence, machine learning, robotics etc. have accelerated the acceptance and currently, Fintechs are better placed than before and are contributing to the financial world in multiple influential ways, for… Continue reading Traditional Banking: Rise or Collab?

How is predictive analytics transforming banking?

Financial Institutions extract information from existing data to ascertain customer patterns and predict future outcomes and trends, known as predictive analytics. They forecast future with acceptable level of risk, reliability and scenarios. Predictive analytics assist financial institutions fetch admissible customer data, identify risk and fraud, screen varying applications, manage customer experience and relationships basis past… Continue reading How is predictive analytics transforming banking?

Gaps left by Financial Institutions that gave rise to Fintechs

‘Finance’ has always been an indispensable part of our society. Earlier, an unorganized lending system reigned the market that was then taken over by an organized brick and mortar model and today, with advancement, Fintechs are competing fiercely for a substantial stance. Gone are the days when the idea of integrating finance with technology was… Continue reading Gaps left by Financial Institutions that gave rise to Fintechs

How are Fintechs Redefining Customer Journey

Customer experience is now an integral part of most industries. With Fintechs coming in and challenging the traditional methods of addressing the customers, they are also redefining customer experience. Upstarts, i.e., Fintechs are taking it upon themselves to change a number of old age methods and many of these may not even associate with the… Continue reading How are Fintechs Redefining Customer Journey

Fintech Growth Hacks

FinTechs are reimagining the entire banking space by revolutionizing several processes and services. They have made ‘finance’ seamless and quick while taking a paperless, presence less and cashless approach. At present, India comprises of 2000+ Fintechs, most of which are based out of Bangalore. With a sudden rise and success of Fintechs in the financial… Continue reading Fintech Growth Hacks

How Fintechs are helping MSMEs bridge their gap of Cash Flow Cycles

India is home to 6.3 crore Micro, Medium and Small Enterprises (MSMEs). While MSMEs hold a major share in the Indian economy, they often face cash flow limitations. Until now, traditional banks were weary of extending capital assistance or loans to MSMEs citing their sporadic cash flow and volatile and vulnerable business cycle that largely… Continue reading How Fintechs are helping MSMEs bridge their gap of Cash Flow Cycles

Embedded Finance

The understanding and implementation of technology in various aspects has allowed us to transform how we perform financial tasks. Today, we can initiate a number of financial tasks at a click! And, it only gets innovative as we delve deeper. Finance is no longer associated with ‘banking’ only rather, several businesses are offering it as… Continue reading Embedded Finance

SaaS led transformation in Fintechs

Digitization has transformed the way businesses function today. Organizations are investing in technology for efficacy and optimization of internal processes to build business models with enhanced customer experience. Today, technology is all over and changing the dynamicity of various internal and external processes by integrating various bits and processes on one platform. Product development and… Continue reading SaaS led transformation in Fintechs

Traditional Banking: Rise or Die?

The origination of the banking saga in India dates back to the 18th century. Ever since, banks and their processes have evolved, adapting to prevalent market needs and sentiments. In comparison to yesteryears, banks have progressed and revolutionized but, with the introduction of Fintechs to the equation, banks are now facing the challenge to evolve… Continue reading Traditional Banking: Rise or Die?

5 Ways to Maximize on Cashbacks with Your Credit Cards

Before the plastics, i.e., the cards, money had ruled the market. In the year 1980, The Central Bank of India launched its first Credit Card of Visa brand, and thus, the Indian society was introduced to the concept of credit cards. Ever since credit cards have come a long way in terms of their functionality… Continue reading 5 Ways to Maximize on Cashbacks with Your Credit Cards

5 Ways to Improve your CIBIL Score

Considering consumer spending across India amounting to nearly INR 22 trillion by the end of the first quarter of 2021, it is evident that Indians have a penchant for purchasing. With newer and innovative payment systems, Eg: Payment Programs in Fintech: Buy Now, Pay Later, consumers are being made well-versed with the concept and different options… Continue reading 5 Ways to Improve your CIBIL Score

Integrated Fintech: The Futuristic Plan

Until a few years ago, technology used to be a support function for the back office of most financial organizations. Today, it is defining industry for bankers and traders. With the help of Artificial Intelligence, Neural Network, Big Data Analytics, Robotics, etc., Fintech has found its place in the innovation economy. The Role of Artificial Intelligence… Continue reading Integrated Fintech: The Futuristic Plan

Rural Inclusion in the Financial World

India is home to over 1.3 billion people, out of which 850 million reside in rural areas. Major chunk of this population is underserved in terms of basic banking services. To promote financial inclusion, the GOI introduced various initiatives, most important among them was developing a digital pipeline that involved linking Jan Dhan accounts (currently… Continue reading Rural Inclusion in the Financial World

Payment Program in Fintechs: Buy Now, Pay Later

Fintechs have disrupted the way traditional banks have functioned to this day and paved a path for themselves. They have leveraged the estimation that only 8% of the world’s currencies exist in physical form and the rest is cached as mere digits inside computer memory. Fintechs have evolved surrounding this fact by offering integration between… Continue reading Payment Program in Fintechs: Buy Now, Pay Later

The Role of Artificial Intelligence in FinTechs

Artificial Intelligence, a key element in today’s technology has been around since the 1950s, since the same time when laptops were big machines. In the year 1951, Marvin Mushy and Dean Edmunds built the 1st Artificial neural network that acted as a base to what we call Artificial Intelligence today. If simply put, Artificial Intelligence… Continue reading The Role of Artificial Intelligence in FinTechs

The Future of e-RUPI in India

India, a country with innumerable opportunities, is quickly progressing towards a financially-inclusive society. While the emergence is taking its course, amongst all, the buildout of financial technology is a worthy fragment to highlight. This evolution has allowed us to envisage a cashless tomorrow without a dependency on smartphones or an internet connection. The GOI recently… Continue reading The Future of e-RUPI in India

The Rise of Women’s Equality Through Financial Inclusion

Much of world history is rife with stories of women fighting for their fundamental rights. Today, as we stand in the 21st century, living in a dynamic era, we see an upward curve towards women’s equality and empowerment. Although India attained freedom in the year 1947, women continue to battle the society for their rights, equal… Continue reading The Rise of Women’s Equality Through Financial Inclusion

e-RUPI and the Financial World

e-RUPI and the Financial World e-RUPI, a game-changer technology-driven payment method introduced by the Government of India (GOI) for the rural populace is said to benefit the target audience in abundance. It is an SMS/e-voucher based one-time payment method where individuals can avail government benefits/schemes without the need for a bank account. While it will… Continue reading e-RUPI and the Financial World

Traditional Banking: Rise or Collab?

Acceptance of Fintechs is on an upward trajectory owing to digitization in the financial world and with customers embracing the change, the shift is evident. Artificial intelligence, machine learning, robotics etc. have accelerated the acceptance and currently, Fintechs are better placed than before and are contributing to the financial world in multiple influential ways, for… Continue reading Traditional Banking: Rise or Collab?

Financial Inclusion: Concept and Measurement

The concept of financial inclusion was first introduced in India in 2005 by the Reserve Bank of India. It strives at offering banking and financial services to economically underprivileged individuals. It aims to elevate the socio-economic status of individuals regardless of their income or savings, ensuring the marginalized make the best use of their money… Continue reading Financial Inclusion: Concept and Measurement