Banking and financial services for the last few years have turned fast-paced with the adoption of technology. Fintech is said to be the epicentre of this change. Companies including Google, Facebook, Uber, and Amazon have entered the fintech realm, which is developing...
Access to formal and affordable channels of credit has always been a problem for small and medium enterprises (SMEs). It remains one of the most painful points among SMEs in major countries, including India and the US. Despite their significant contribution to the...
Until recently, financial data has remained an untapped powerhouse of insights. Since Open Banking gained traction in Europe and several other continents, this data is empowering customers instead of being locked away in banks’ vaults. Data insights have become a part...
Even though banks remain key players in the finance industry, alternative finance and online lending platforms are witnessing immense growth. According to the report by the Federal Reserve, alternative lenders garnered around 32% of all business loan applications in...
The market share of credit unions (CUs) in the finance sector is only a fraction of their bank counterparts. However, they play a valuable part in building a healthy banking sector. They also tend to offer more inclusive banking than some commercial banks. According...
The Revised Payment Services Directive has been working on to build a framework for the Third Party Providers like PISP (Payment Initiation Service Provider) and AISP (Account Information Service Provider) to develop services on top of bank’s data. Open Banking under PSD2 has made it all possible with bringing the focus on access to the account. As a result, banks will not be the only ones with information about transactions, customer’s banking history, as well as his financial position.
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