In the Union Budget for 2022-23, Finance Minister Ms Nirmala Sitharaman talked about the virtual currency space. She also mentioned the creation of a Central Bank Digital Currency (CBDC), or the digital rupee, in the financial year 2022-23, in addition to announcing a flat 30% tax on profits from virtual currencies. Income from the transfer […]
BaaS, or Banking as a Service, is part of the FinTech revolution that is gripping the world, as well as India. BaaS refers to banking services that operate entirely online. BaaS platforms offer complete end-to-end solutions digitally. Traditional banks, which have hitherto been used to doing business offline, are now experiencing a crisis of faith. […]
Banking as a Service (BaaS) has replaced open banking in India, and it is transforming the banking business. This may appear to be a bold statement. However, industry developments such as the rapid expansion of neobanks and the proliferation of customer-centric banking products support it. BaaS is becoming more popular as the demand for customer-centric […]
The speed of digitisation in financial services had been picking up for a while, but the pandemic has accelerated it big time. Fintech-as-a-Service (FaaS) platform, growth in digital-only banks, increased usage of biometric security systems, and the rise of autonomous finance have all lately emerged. When it comes to digital transformation, Fintech, of course, is […]
