Transparency is a fundamental cornerstone of trust in any lending relationship, and it has special significance in the context of small business lending. The expansion of the economy, the creation of new jobs, and innovation are all significantly influenced by small enterprises. Small firms frequently encounter difficulties obtaining capital due to the complexity of the… Continue reading Importance of making the Indian Digital Lending Sector more Transparent
The Micro, Small, and Medium-Sized Enterprises (MSMEs) in India will be significantly impacted by the surge in digital lending. MSMEs are essential to the Indian economy and make a substantial contribution to job creation and general economic expansion. Over the past few years, MSMEs’ use of Internet payments has increased by 50–100%. According to a… Continue reading What Does the Digital Lending Boom Mean for Indian MSMEs?
The emergence of financial technology (fintech) in recent years has transformed the way we conduct financial transactions. The rise of digital currencies is one of the most significant developments in the fintech industry. While cryptocurrencies such as Bitcoin have gained popularity, central banks around the world are investigating the possibilities of central bank digital currencies… Continue reading Fintech and Digital Currencies: Exploring the Potential of Central Bank Digital Currencies
Digital identity verification has evolved as an important component of credit evaluation processes in the fast-paced world of financial technology (fintech). Traditional methods of verifying identities for credit applications, such as manual document checks and in-person verification, are time-consuming, error-prone, and out of step with today’s customer expectations. Fintech firms are utilizing cutting-edge technologies and… Continue reading The Rise of Digital Identity Verification in Fintech Credit
Digitalization has technically taken every domain by storm however, the area of interest for us is the MSME (micro, small, and medium enterprises) market. MSMEs have varied levels of receptivity to digitalization, but there has been a growing trend toward digital adoption in recent years. Many MSMEs have recognized the benefits of digitalization, such as… Continue reading Are MSMEs receptive to digitalization?
The evolution of Indian banks migrating to digital channels can be traced back to the early 2000s when the Reserve Bank of India (RBI) started promoting the use of electronic payment systems. The introduction of the National Electronic Fund Transfer (NEFT) in 2005 and the Immediate Payment Service (IMPS) in 2010 were significant steps toward… Continue reading Indian banks migrating to digital channels; more on the evolution
Multiexperience is the practice of creating digital experiences across multiple touchpoints, such as mobile devices, wearables, smart speakers and other connected devices whereas digital transformation is the process of using digital technologies to fundamentally change the way businesses operate and deliver value to their customers. In the context of digital transformation, multiexperience plays a crucial… Continue reading Multiexperience in Digital Transformation
Digital banking in India is expected to grow with a CAGR of 23.1% from 2022 to 2030. NBFC growth is also estimated to hit $5 trillion in 2024. E-Banking existed as an additional service before COVID-19. However, after the pandemic, globally, the concept of Internet banking has changed. Indian banks have achieved phenomenal growth by… Continue reading The Future Of Online Banking In India