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API-led AP-AR automation solutions today connect a business’ treasury, payments and credit workflows, creating unprecedented access for banks to drive engagement with SME businesses. Accounts payable and accounts receivable (AP-AR) automation is at the core of creating real-time visibility into a business’ working capital. With an estimated marke...
16 February 2023 /payments /wholesale Banking Strategy, Digital and Transformation
New age core banking solutions like Thought Machine, Mambu and Pismo are on their way to transform banking as we know today Simplistically put, these are a set of cloud native, even driven domain microservices that facilitate quick creation and launch of new products, configuration of workflows, accounting entries and interface with other internal...
15 February 2023 /retail /predictions Banking
In a discussion that I recently witnessed, a participant wished to know the best and the latest technology initiative that any bank has undertaken in Trade Finance and the benefits that they got out of it. The question set me thinking. There is nothing like end-to-end digital trade as yet. There are no fintechs that distribute traditional trade p...
14 February 2023 /wholesale Transaction Banking
Even though technology, consumer behavior, and finance are always evolving, credit card products from banks have largely stayed the same. Of course, some things have changed: signatures are being replaced by biometrics, some retailers don’t even require us to queue to pay, and new models for repayments, such as Buy Now Pay Later (BNPL) are growing...
13 February 2023 /payments /retail Banking Strategy, Digital and Transformation
Back in 2016, I was fortunate to be part of the team chosen for a week-long workshop/training on Blockchain. We were introduced to the basics, formed teams and built some use cases to understand how it works. Subsequently, I could also participate in building proof-of-concept on payments and trade finance. There was, and continues to be, a lot of ...
13 February 2023 /wholesale /predictions Blockchain Observations
The buzz around SME or MSME Lending has been around for quite some time. For the uninitiated, MSME is Micro, Small & Medium Enterprises. To give you a perspective, Government of India defines enterprises with revenue not exceeding Rs.5cr as micro, those between Rs.5cr to Rs75cr as small and Rs 75cr to 250cr as medium sized businesses. Major co...
10 February 2023 /wholesale /inclusion Small Business Lending Innovation
Finance Minister Nirmala Sitharaman tabled the Union Budget 2023-2024. Like previous Union Budgets, this fiscal year focuses on Inclusive Development (financial inclusion of small Businesses and support ease of doing business), promoting Public-Private Partnerships, Skilling (teaching-upskill), and setting off medium to long-term national develop
06 February 2023 /regulation /startups Regulatory Reporting
The carousel of financial sector regulations must continuously turn to keep up with an evolving space. As new technologies come along, new threats follow. In 2022, cyber attacks continued unabated, with a report showing that more than half of financial firms were hit by ransomware in 2021. Crypto assets have also changed the financial landscape ad...
02 February 2023 /regulation
In our family 2 inch gaffer tape is known as 100mph tape. The name is a throwback to the days when my dad used to rally. Anyone who has rallied will know things break and fall off, and rallying isn’t a sport with a pit with a team of fully equipped mechanics around every muddy turn or conveniently positioned in every forest, so much of the time yo...
01 February 2023 /wealth /predictions Fintech
On a regular basis, companies board on transformation initiatives that help them in improving the performance of operations, helping to meet industry obligations, address regulatory or key performance issues etc. Once these projects are fully implemented and in use, it is the people who need to learn to adjust to the new requirements of their task...
01 February 2023 Change Management
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