Raktim Singh Senior Industry Principal at Infosys
Across the globe, each household does financial transactions almost daily. It's part and parcel of every family's life. Though a large population is still unbanked, many families have used banking services in the last decade. But the moot question is whether all these banking services are tailored to that household's needs. Many times, it's a one-s...
22 January 2024 /retail /wholesale Banking Strategy, Digital and Transformation
Recent years have witnessed a significant increase in the level of banking inclusion. In 2022, around 70% of the population had access to a bank account, up from ~40% a decade earlier, according to the World Bank. This expansion is primarily attributable to the digital revolution. As of 2014, only 35% of the adult population worldwide could send or...
19 January 2024 /security /retail Biometrics
Machine Customer refers to software programs, autonomous devices, or both that act as actors engaging in transactions such as purchasing goods and services on behalf of humans or other machines. In contrast to conventional automated systems, machine customers can adjust their behavior over time and make decisions based on various criteria instead o...
17 January 2024 /payments /people Business
The banking industry is characterized by constant change, and adapting is crucial for capitalizing on opportunities and minimizing risks. The increasing demand for real-time information is causing a corresponding evolution and escalation in customer expectations and a transition from physical to virtual service delivery. Need for Agile and Adapti...
12 January 2024 /retail /wholesale Banking
What is Democratized AI: The democratization of artificial intelligence entails universal access to AI. Put simply, open-source datasets and tools, which were created by prominent corporations , require minimal user expertise in artificial intelligence, allowing anyone to construct groundbreaking AI software. The underlying principle of 'Democrat...
11 January 2024 /retail /inclusion Artificial Intelligence
"On-demand pay" allows employees to request a portion of their compensation before the next pay period. This is especially beneficial for personnel who may encounter unanticipated financial obligations. The provision of "on-demand pay" grants personnel the flexibility to withdraw accrued wages at their preferred time. Along with...
10 January 2024 /payments /retail Banking
Financial inclusion is providing access to financial services on an equitable and universal basis. Financial inclusion comprises a sequence of processes by which individuals and organizations can acquire appropriate, timely, and economical financial products and services, including banking products, loans, and insurance. Financial requirements oug...
05 January 2024 /people /inclusion Technology for Social Good
Resilience is a process and an outcome of effectively adjusting to life's challenges and adversities, specifically through the exhibition of mental, emotional, and behavioral flexibility, as well as the ability to endure internal and external pressures. Organizational resilience pertains to the capacity of a business to proactively foresee, prepa...
02 January 2024 /security /regulation Financial Risk Management
Historically, wealth management was limited to the family's elders. These individuals, assisted by advisors and chartered accountants, made prudent and secure investments, guaranteeing the absence of concealed charges or hazards. Those in the upper echelons of society were the primary investors, and their holdings were typically limited to real est...
30 December 2023 /wealth /retail Financial Inclusion
Introduction: The financial industry has been significantly transformed by the Regtech, which has brought about substantial changes to compliance procedures, risk administration, and regulatory disclosure. Regtech, an acronym for regulatory technology, is an emerging industry that makes use of cutting-edge technologies to bolster regulatory procedu...
29 December 2023 /retail /wholesale RegTech
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