Open Banking demands customer-centric approach for banks and TPPs
Open banking has gained momentum in the global banking industry. Banks and Fintechs are adopting the new approach to revolutionize services quicker than ever before – keeping customer needs as the focal point. As banks and financial institutions across Europe are...
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How will Open Banking impact the market for lending
With open banking leading the way, large banks, financial institutions, and aspiring third party providers are preparing to redefine the financial services. They will produce more personalized products and services catering to the financial needs of the consumers....
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PSD2 to push transformation of customer experience in banking
Today’s customers want personalized interactions, easy access to their money, and simplified processes when it comes to banking services. A customer’s banking journey ranges from onboarding to transacting and account maintenance. With the increasing demand for...
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How PSD2 is a massive opportunity for online merchants
PSD2 is coming into force on this 14th September to set standards for fraud prevention, data usage, and transparent online payments across the EU. The idea behind the directive is to safeguard online transactions, unify the payment system, as well as promote new and...
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Real-time payments and PSD2 to drive payment innovation
We live in a world of constant change and increasing speed is the cornerstone for all the services. Disruptive technologies – mobile, cloud, and APIs – have greatly empowered customers who demand convenience, speed, and personalization in the services they get....
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Blockchain-based payments to boost cross-border remittance
Remittance pay market plays a significant role in the economic growth of billions of people around the world, especially in developing countries. According to a report by the World Bank, the total value of global digital remittance industry reached $613 billion in...
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5 ways lenders can enhance operations with real-time bank data
Today, instant accessibility of financial services has become a major requirement for customers. They want banks and Fintech firms to offer financial services tailored to their need and preferences. The industry has been witnessing changes on similar lines where...
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Top 7 trends driving digital transformation in banking (II)
In the previous blog we discussed three trends out of seven driving digital transformation in the banking industry. Now let's have a look at the four trends which are likely to change the face of the industry in times to come. Cloud Computing Even though the adoption...
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How can banks endure radical changes under PSD2?
The Revised Payment Services Directive or PSD2 is amongst the most progressive legislations aimed at revolutionizing the payments and the banking industry. The directive strongly focuses on emphasizing payment security, innovation, and market competition. It also aims...
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Top 7 trends driving digital transformation in banking (I)
‘Technological innovation’ – these two words are so embedded in our day-to-day life that we have almost forgotten how we used to live without mobile phones or internet or even online banking. We take it as a joke that the banking services were limited to a brick and mortar building which we called ‘bank’ within…
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Facebook’s Libra blockchain to promote open identity standard
Facebook has recently unveiled details of its much-awaited digital currency, Libra, which is built on the foundation of blockchain. Libra allows you to send money to your friends and relatives or buy things with nearly zero fees. Since the launch of the white paper,...
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Alternative finance to go mainstream?
In 2017, the alternative finance market grew by 36 percent to reach €10.44 billion. The growth seemed most prominent in the UK witnessing the overall market rise of a massive 68 percent, followed by France, Germany and the Netherlands. Despite the effect of Brexit on...
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Banks are pushing adoption of blockchain to foster innovation
Blockchain technology, even in its infancy, has disrupted the banking and finance sector. Various features like immutability, transparency, and decentralization make the technology immensely fitting for various industries and markets. Talking specifically about banks,...
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Libra: Facebook coin to balance the world of cryptocurrency
Latest Update:According to Wall Street Journal, Facebook has recently sealed a deal with Uber and Payment giants like Visa, Mastercard and Paypal for the coin. The news alleged said that these firms whose businesses extend across finance, e-commerce, telecom and venture capital are going to invest around $10 million in a consortium that will govern…
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How Blockchain Will Transform the Pharmaceutical Industry
The global pharmaceutical industry is expected to reach $1170 billion in 2021 from $934.8 billion in 2017, according to a recent report by the Business Research Company. The pace of market growth, though, increased in 2018 from 2017 (5.8% from 5.2%), it is still...
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