Mobile Banking – The Future is now!

The banking industry is evolving every day. Mobile banking services are transforming from being a service for the tech-savvy to a mass-market provision availed by all customer segments. Moreover, banks have observed the convenience, ease and increased ROI of providing banking services over the mobile platform. Mobile banking service is relatively new, however, it has…

The wave of Business Intelligence in Banking is here!

Business Intelligence (BI) is responsible for enhancing the banking operations like identifying patterns, analysing connections, addressing and resolving issues in real-time etc. Many financial institutions have already started benefitting from the BI technology. However, its full potential is yet to be discovered. Business intelligence solutions are not very new to the banking domain. It can…

All You Must Know about Payment Gateways!

The payment systems have evolved as the online payments popularise on the ecommerce domain. Debit/credit cards, internet banking and even e-wallets have emerged as a means of offering extreme convenience to shoppers for payment of goods and services they buy. These transactions are initiated and completed via a network that we refer to as ‘payment…

Conversational Banking – Fad or Future?

The revolution in banking has already begun with a variety of digital solutions available today. These solutions have bridged the gap between customers and the servicing banks by nurturing their relationships through better interactions. Earlier, customer interactions in banks were limited to physical branch visits. Today, digital means like online and mobile banking have popularised…

Why Financial Institutions Must Bank on Money Transfer Systems?

Financial institutions have begun stepping into the digital world and are no more limited to direct and physical banking methods. With platforms like mobile and internet, banks and credit unions have started adapting innovative concepts like the money transfer systems. These systems offer ease and convenience to both the banks and their customers. Money transfer…

Financial Inclusion in India – The Rise of Business Correspondent Model

In January 2006, the Reserve Bank of India issued a set of rules enabling banks to utilize two classes of middlemen for the banks and financial institutions to serve the unbanked or under-banked population with basic financial facilities – Business Correspondents (BCs) and Business Facilitators (BFs). Under financial inclusion schemes, the BCs represent bank as…