26 Results
Abhinav Paliwal CEO at PayNet Systems
Starbucks is a bank. Today, that “bank” has 24m+ members and $1.6B in “deposits". Here is the backstory of worlds largest Neo Bank - Starbucks : In 1994 they have 425 total stores in their 23rd year By 1999 They opened 625 new stores By 2007 They where opening 3500 stores per year But eventually, this growth backfired. Stores were...
04 April 2022 /payments /retail Digital Banking Trends
Handling cash flows has always been key to businesses’ survival. However, walking the path with numerous customers, partners, merchants, and vendors every single day of a year is challenging. Often, on an invoice, there could be multiple sub-payees, which makes it so complex for your workforce. Could split payments be the answer? Understanding
29 January 2022 /payments /startups Payments strategies 2015-2020-2030
Everything Worth Knowing About Neo Banks! Neo banks have taken the world of banking by storm ⚡️ and not without some very good reasons. These financial institutions seek to make banking more accessible by offering customers a cheaper and more convenient alternative to traditional banking. In the process, they are changing the face of fintech. T
11 January 2022 /retail /startups
Brazil’s Nu Bank, the largest #Neobank globally, recently filed to go public. This has sparked curiosity in its business model. How Nu Financial earned over 48M customers in Brazil, Mexico and Colombia, including 1.1M SMEs. Nubank started off using credit cards as an initial wedge to acquire customers. Today, Nubank offers financial products in...
14 December 2021 /retail /startups
Thanks to emerging technologies, banking sector has undergone colossal transformation in recent years. The future of banking has moved towards cross-platform mobile frameworks (Flutter, React Native, Ionic, etc.) as well as dynamic back-end that might involve a string of databases, all storing various components of the data. Banking involves conti...
21 November 2021 /payments /retail Digital Bank Transformation
Banking today is ages different than what it was just a decade ago. And it won’t be an exaggeration to attribute a major chunk of this transformation to technology. Even today, banks need to tweak the underlying code beneath their applications in line with diktat of the market or newer technologies. A key factor leading to easy innovation is the
10 November 2021 /retail /startups Digital Bank Transformation
Launched just about a decade ago in 2011, mobile wallets are one of the newest forms of payment. They are your digital applications like Google pay, Apple Pay etc., that store your payment information on a mobile device. They store users' card details, coupons, tickets etc., in one place for them to make payments on the go digitally. These wallet...
31 July 2021 /payments /startups Fintech innovation and startups
People today have become used to instant service, with e-commerce bringing this change through same-day deliveries. So when they have to wait for responses from their financial service provider, it may irk them. They expect the same level of immediacy across service providers. However, research shows that the average response time for customer se...
22 July 2021 /payments /retail Millennial Banking
1 out of 5 people on the planet already use Whatsapp. Not only does this messaging app has a massive reach, but it has also managed to make people hooked onto its platform. It’s great to have mobile apps and web financial services, but people don’t visit those channels as often as they visit their Whatsapp. Hence to constantly stay on their mind fo...
16 July 2021 /payments /retail Millennial Banking
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
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