Discover a wealth of insightful materials meticulously crafted to provide you with a comprehensive understanding of the latest trends.
According to data released by the Reserve Bank of India (RBI), During the fortnight ending on February 10, India’s banking system credit showed a 16.1 % year-on-year (YoY) increase to a ticket-size INR 134.17 trillion. This is a significant increase from when credit growth stood at just 9% a year back. The rising demand for […]
One of the biggest challenges consumers and providers of financial services face is the lack of a seamless, secure mechanism to access and transfer financial data. For instance, when borrowers apply for business loans on lending apps, they need to share a host of information to establish their creditworthiness. The borrower will need to […]
Today, India has over 2,000 fintech companies, which is expected to grow further in the next decade. The arrival of fintech is rapidly transforming the financial services sector in India. One of the critical areas where fintech companies have garnered traction is the unsecured loan segment, thanks to digital lending. Before the fintech revolution, businesses […]
Technology is developing at an unparalleled rate in the banking and financial sector, completely transforming conventional procedures and products. Fintech is rapidly innovating banking as we know it, from automating routine banking processes using Robotic Process Automation (RPA) to empowering customers by giving them control over their financial data through open banking systems. These changes […]
With growing digitisation, the fillip online shopping received during the pandemic and popularity among the youth have encouraged the Point of Sale (POS) financing options. The most common form of POS financing is Buy Now, Pay Later (BNPL) It is interest-free credit where consumers spread the cost of an item over a short period. Many […]
The COVID-19 pandemic has had a significant impact on the non-banking financial sector. The sudden and widespread lockdowns resulted in a slowdown in economic activity, leading to a sharp drop in demand for loans and a decrease in consumer spending and investment. Non-Banking Financial Companies (NBFCs) faced challenges in terms of collecting payments and meeting […]
The Reserve Bank Of India introduced the Account Aggregators (AA) framework in September 2021 to facilitate access to financial data and encourage financial inclusion. An Account Aggregator collects a user’s digital financial data from one or more accounts and delivers it to the financial institution providing services like loans or insurance to the user. The […]
The digital lending industry has proliferated over the years and now plays a critical role in driving the country’s economic development. According to an EY report, India’s fintech market will be worth $200 billion by 2030, up from $50 billion in 2021. The fintech sector is bridging the gap in providing banking services to last-mile […]
The booming fintech ecosystem in India has led to the emergence of countless companies that offer various credit services. However, despite its benefits, this expanding fintech vista has also led to the proliferation of unregulated digital lenders conducting unethical business, excessive third-party engagement, and rising risks to digital privacy. Moreover, unjust interest rates and inhumane […]
Access to relevant data is a growing need for businesses that must make several daily decisions that impact their business outcomes. This survey from 2020 indicates that countries like the USA, Germany, and India are shifting towards data-driven decision-making. Financial data, in particular, plays a significant role in helping businesses determine the most suitable way […]
