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…

Do Banks Really Know What Customers Want?

Are the Indian banking customers happy with the services being offered? What are the reasons behind their satisfaction or dissatisfaction? How do bank managers foresee the future of Indian banks? These are questions every financial institution must ask themselves before serving the modern day customers. In the recent times, banking services are an outcome of…

Analytics in Banking: A Beginner’s Guide

The face of banking industry has changed tremendously over the years, predominantly after 2008’s economic crisis. Cost of compliance, regulatory reforms and risk management needs careful attention for simplifying business functions. Banking analytics is used for getting intelligent understanding on key business areas. But, no matter how much it is streamlined, the banking industry will…