All posts by banking

From Security to Trust – The New Digital Normal

Reported by | Updated: April 15, 2021

Banking Frontiers, in association with Fortinet, organized a web panel discussion by BFSI CISOs on the growing thrust on trust through security. Edited excerpts: Sunder Krishnan, CRO, Reliance Nippon Life Insurance: The ongoing pandemic and WFH had led to rise in threat and risk factors, as WFH involves use of several devices for doing organizational […]

Instant insurance cover for loans

Reported by | Updated: April 12, 2021

Kotak Mahindra Life provides instant insurance coverage along with loans. It has served 85 million customers through 300 partners: Kotak Mahindra Life Insurance Company is providing bundled insurance cover to loan customers under group credit life insurance. The financial institution in this case becomes the policy holder/group organizer and the borrower opting for insurance insured […]

Digital gives major push to merchant services

Reported by | Updated: April 12, 2021

In the third and last part of the 3-part report based on The 2020 McKinsey Global Payments Report, we discuss the prospects of merchant acquiring business in the wake of the pandemic: The 2020 McKinsey Global Payments Report unequivocally states that the shift to electronic transactions has placed front and center the need for merchant […]

RTGS, NEFT membership for non-banks now enabled

Reported by | Updated: April 9, 2021

Membership of the RBI-operated Centralised Payment Systems (CPSs) – RTGS and NEFT – currently limited to banks, with a few exceptions, is now proposed to be available to non-bank payment system operators like Prepaid Payment Instrument (PPI) issuers, card networks, white label ATM operators and Trade Receivables Discounting System (TReDS) platforms regulated by the Reserve […]

Narrow Business Focus, Wide Technology Adoption

Reported by | Updated: April 8, 2021

U GRO Capital’s flagship platform is capable of onboarding of MSME customers completely digitally, with decision in 60 minutes: U GRO Capital has chosen not to lend to anyone and everyone. Unlike most NBFC lenders, it has shortlisted 8 sectors after an 18-month process involving extensive study of macro and micro economic parameters carried out […]

SBI MF migrates to newer technologies for better CX

Reported by | Updated: April 8, 2021

The company has already seen a substantial increase in the traffic on both its website and mobile app: SBI Mutual Fund is one of the most tech savvy fund houses in the industry. R. S. Srinivas Jain, Chief of Strategy, Digital & Technology, who has an experience of over 21 years in the financial services […]

200,000 customers in 3 months

Reported by | Updated: April 7, 2021

Doorstep banking services has given a boost to phygital services. The service is delivered through 100 centers identified by IBA as part of EASE reforms agenda of 12 public sector banks: Public sector banks have come together to launch Doorstep banking services after Finance Minister Nirmala Sitharaman inaugurated the novel initiative recently. UCO Bank is […]

Towards unlimited variations in SCF

Reported by | Updated: April 5, 2021

Leveraging technology to enhance trust, speed, flexibility, efficiency, and innovation for supply chain financing: During the earlier days, the banking industry was a laggard in terms of technology adoption. The financial services sector has been plagued with a number of manual intensive processes, a lot of forms to be filled, physical verification by making site […]

Touch-free way of interacting with ATMs preferred

Reported by | Updated: April 1, 2021

The ongoing covid pandemic has made offering customers a touch-free way of interacting with an ATM even more important and many banks are actively exploring software, which allows methods for identifying a customer other than the ubiquitous card and PIN, according to the ATM Software 2021 study by strategic research and consulting firm RBR. The […]

Prime-Time for Real Time

Reported by | Updated: April 1, 2021

ACI Worldwide and GlobalData have come out with ‘Prime-Time for Real Time’, a global report tracking and analyzing real-time payments volumes, growth, and dynamics across 48 global markets. (To read the full report click here)