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Many entrepreneurs have gotten stuck on deciding whether to build or buy fintech software. While a personalized solution might appeal to customers, not all startups have the budget to invest in building a customized solution. However, buying a ready-made solution might be less cost-intensive when starting up, the software might now scale well with...
31 January 2023 /retail /startups Banking Strategy, Digital and Transformation
APIs provide rapid and scalable applications for banking, payments, and other businesses that require identity verification for AML and KYC compliance. In most countries, some firms are obliged by law to comply with AML and KYC. When such firms authenticate their consumers, APIs may provide a faster, simpler, and less expensive way to comply while ...
30 January 2023 /security /identity Banking Strategy, Digital and Transformation
Aadhaar OKYC transactions jumped 22% in Nov; Aadhaar Verification transactions grew 11% 28.75 Cr eKYC transactions conducted using Aadhaar in Nov Indian Residents’ use of Aadhaar is continuing to advance across the nation. Aadhaar was used to complete 28.75 crore eKYC transactions in November alone, a 22% increase from the prior month. By the end o...
30 January 2023 /security /identity Banking and Lending Solutions
Introduction to Digital Customer Onboarding with Identity Verification for Neo Banking In the world of finance, digital onboarding is becoming increasingly important for neo banks. Neo banking refers to a new generation of digital-only banks that offer a wide range of financial services through mobile apps and online platforms. These banks are typ...
30 January 2023 /regulation /identity Digital Banking Trends
As we hit full speed with our plans for the coming year, it’s only natural to consider what the months ahead will bring. Yet, in the risk management realm at least, this annual look forward feels somehow different. There’s an unspoken gravitas to the exercise as we survey the dominant trends coloring the global economic picture: high inflation, ri...
27 January 2023 /regulation /predictions Fintech
Thanks to colossal strides in payment technology ingenuity, the world of merchant acquiring has changed drastically over the past ten years. Tried and trusted business models have been reshaped by widespread M&A activity, the pace of transition to e-commerce, and an influx of non-bank fintech competitors. A huge global upswing in e-commerce an...
27 January 2023 /payments Fintech
Abstract The financial services industry has seen significant growth in the embedded finance space for the past decade. The growth areas are mostly in the embed payments, insurance, and credit but are there opportunities to reimage other financial services offerings like investments and advisory services being embedded directly into the customer e...
27 January 2023 /wealth Banking Strategy, Digital and Transformation
As the old saying goes, you never get a second chance to make a first impression, and when it comes to e-commerce, that equates to little more than 50 milliseconds. Alarmingly, a potential customer can be drawn to or turned off by your website or online service at the hint of a glance. Increasingly, it’s becoming ever more difficult to stand out i...
26 January 2023 /startups /identity Women in FinTech
“Banks nowadays are in stiff competition for human resources with fintech. The financial technology sector often offers higher pay. Still, the prospects of many such start-ups are difficult to forecast – they are as likely to occupy a solid niche as they are to go bust. Stable companies in Latvia are only a handful. Primarily, fintech players acti...
24 January 2023 /payments /startups Banking
We are entering 2023 with tighter belts this year. However, we leave 2022 with unmatched blockchain experience, both good and bad. Will trends from 2022 roll into the new year? We look at how the financial system reacted to distributed ledger technology (DLT) in 2022 and what that predicts about its direction in 2023. Cutting a long story short, ...
20 January 2023 /markets /predictions Banking Strategy, Digital and Transformation
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