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Defaulter of P2P Lending has several reasons one of it can be Credit risk predictive engine used. If risk profile of borrower is misleading due to weakness in calculating and attaching risks - most may land into such issue. How efficiently Lender is being educated to evalute and authenticate borrower is yet to be known!

How Custodian bank will control such loopholes?

I have also lost track after Dec 2016 ( BHIM app and QR code was to be launch together but some how missed it from tracking it).

I believe intially it was marked as IndiaQR but rechristened as BhartQR (it goes with BHIM App). ( Link as of yesterday  - http://economictimes.indiatimes.com/industry/banking/finance/bharat-qr-code-launched-to-push-less-cash-economy/articleshow/57256004.cms)

Merchant sign up still needed ( http://timesofindia.indiatimes.com/business/india-business/common-qr-code-for-payments-soon/articleshow/55798001.cms)

As expected, banks seems to be gearing up with this new development to ensure grab the churns to PayTM and other players.

It will benefit in Aadhar enabled payments using QR code and BHIM App.

IndiaQR is joint effort of NPCI,MC,VISA indicates to support open loop payments using wallets.

Is it going to create interoperatablility of wallets ( PayTM  Wallet reading IndiaQR :))

Requirement for cash in matured market such as UK will find challenging in operating ATM network in coming years but, banks can look at ATM location as Location based marketing spot (Revenue/profit center) rather than Services outlet ( Cost center).

Banks in UK can take some learning pages from Indian ATM Outsourcing model.

1. More than 60% of bank ATMs are operated by third party ATM oursourcing companies with bank's responsbilities only to provide access to its ATM switch/network and cash ( Typically called Brown label ATMs).

Companies comply with all regulatory compliance, preserves bank's branding on outlet, screen and in-lobby visual merchandise at 50 to 60 % of the cost from bank owned ATM lobbies.

these companies operate ATMs on transactions fee basis and fees are far below interchange prevail.

2. With more than 5 active White label ATM operators in India ( Indepdent ATM Deployers - IAD) having started operating its ATM network, banks have closed/relocated its ATM to curtail bank's own ATM lobby overheads espcailly low foot fall traffic locations.

3. Some of the bank's such as DBS, has adopted Hybrid model where in Signage is of DBS but ATM is WLA/IAD operated for residual monthly outgo.

4. Location based marketing:

Across globe ATM locations are used for residual income generation using kiosks, Wi-Fi Hotspot, Mini Service Outlet/marketing spot which can generate residual income to cover upto 20% of cost overheads in some cases.

Thanks for brining perspective of VR for Banks to create experience of Brick and mortar using wearables.

Linden Lab was the first Browser/client-server commeical platform with its own community currency ( It can be purchased using USD with conversion of 1 USD=0.89 Linden).

IT companies such as IBM, CISCO, HP has its store front, virtual events to showcase and demo its products for visitors with virtual relatity tour as well as Banks such as Barclays, ABM AMRO, BankAM showcase it's branch with virtual tellers, officers helping visitos with advices and products.

There were retailers, invidual virtual goodsellers, virtual merchandise vendors also can be located as virtual market place. Regret to say it has hardly made any noise into main stream business cases for success.

The mainstream business can fetch new ways and model such as Amazon's ECHO,  EVA of KPMG, Microsoft Cortana , Kinnect and HoloLens.

Surprised as well as confused - Bank must have applied some software patches to fix bugs, put some enhancements which could have created glitches.

Is the issue so serious and unpredicatable that, Roll back plan has also back fired ?? If it is so, then it's dangerous to keep money with such setup.

When most of the countries are having cashless ( or Less Cash) society on its agenda, top-up for spare changes ( ofcourse, presently spares change paid to charity has been promoted by several retailers) to pre-paid cards is good option.

I found BioPay also interesting initiative but again, cost of upgrading POS terminals at Merchant outlet needs to be considered as entry barrier. Korea can look at Indian model JAM - Jan Dhan Account - Aaadhar (Biometric Authentication) - Mobile ( Mobile with Finger print scanner) to ensure secured wireless payments can be carried out with least upgrade cost.

Rightly said FinTech is Ever Changing Ecosystem - Herd approach, Group Thinking ( it has come due to 'Me Too' Fintech startup increases in such ecosystem) all leads to USP for PwC to position its "DeNovo Service" :)

YES bank is truely moving towards Digital transformation as I compared it with few close peers websites and offerings which does not even highlight their offerings as App so prominently.

YES Bank has clear Link on Home page - 'App Store' which has apps to interact using new digital channels.

SBI - largest legacy bank in India has become first bank who has followed brilliant Digital Transformation cycle.

2014 - "SBI In Touch Lobby"  to build Digital channels for serving customers and attach it to medium scale branches.

2015 - Branch Consolidation to survey existing branch format and close/relocate/open branches with SBI IN Touch lobby with minimal staff.

2016 - Apart from Branch Consolidation, started building enterprise app library and Fully Digital bank infrastructure.

SBI is yet to fully complete its branch consolidation spree to strategise physcal foot print. One of the issue is demography of customers which bank will work to align its channels.