Latest opinions that Abhinav Paliwal has shared on Finextra

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Abhinav Paliwal

CEO

PayNet Systems

Member since

08 Jun 2021

Location

India

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Abhinav's opinions

API integrations is the only way forward for financial institutions

API integration is and why is the way forward for financial Integrating new applications into the existing IT infrastructures is a pain for banks. They use 1000 unique applications; however, only 29% of them communicate with each other, according to Connectivity Benchmark report. To solve that and enable point to point integration, they spend time...

10 July 2021 /payments /startups API

How Engagement Module help Neo Banks

It could be 5 - 25% more expensive to acquire new customers than to retain existing ones. New customers have to go through your entire customer acquisition funnel before becoming a customer, which is expensive and time-consuming. On the other hand, customer retention is not only cost-effective but also profitable. According to Frederick Reichh

02 July 2021 /payments /retail Analytics in Banking

Neobanks: Everything You Need to Know

Neobanks are what Slack is for physical offices Keeping the idea of digitisation and financial inclusiveness at the core, the traditional banks have moved from brick and mortar to adapting the digital versions of their services. Neobanks take it a step further with a digital-only approach. Neobanks are a fully functional digital-only bank with ad...

30 June 2021 /retail /startups Open Banking

Your Guide to choosing an White Labeled Neo Banking Platform

With digitisation taking over the world, people have moved to a digital-first approach. Hence, businesses have also evolved with changing customer needs. This transition has already happened in all industries, including retail banks. Retail banks have transitioned from brick and mortar and extended their presence digitally with multi-channel strate...

26 June 2021 /retail /wholesale Online Banking

Trends that will shape Digital Banking's future

Find out the trends that will mould digital banking and how they will impact its future—the rise of FinTech and their association with FinTech. Until 2020, digital banking for banks was confined to having a web and mobile app, but the word now has a different meaning altogether. Last year has made banks realise the gaps in their digital banking jo...

23 June 2021 /retail /startups Open Banking

5 Digital Payment Trends in 2021

According to Finaria.it, the global digital payments industry is expected to hit $6.6 trillion in value in 2021. The sector was valued at $5.4trn value in 2020. Before COVID 19, the industry was growing at a 16% YOY increase, but once the pandemic hit, the pace expedited to over 22%. In the next four years, the digital payments market is set to re...

22 June 2021 /payments Payments strategies 2015-2020-2030

What is Conversational Banking?

Digital banking has done a great job making banking and financial services accessible to users at their fingertips. However, the shift from offline to online has led to a void of personalisation in their experience. According to Accenture, 50% of people want to switch between human and digital channels. Though users can almost do everything nat

12 June 2021 /retail /startups Millennial Banking

Build, Buy or Subscribe a Neo Banking Platform ?

Build, Buy or Subscribe ? Considering that almost all challenger banks have a digitally-focused approach, we can safely say they are taking over the traditional financial institutions in terms of revenue to cost ratio. Digital banking solutions being the catalyst to their growth. Conventionally banks would build solutions internally to automate m

10 June 2021 /retail /startups Banking Strategy, Digital and Transformation

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