Tag "BFSI"

What makes APAC Fintech take a lead over North America and Europe?

HONG KONG: Investments in Asia-Pacific financial technology (fintech) ventures, primarily in China, reached $9.62 billion as

Blockchain: Made of Steel, Copper or Mercury?

Pratima H INDIA: Whenever something new happens, people first ask ‘why’ until they slowly move to

Financial services cos to digitize more offerings for ‘Digital Natives’

Veetika Deoras Digital slowly, but surely is becoming the new normal. Customer-centric digital platforms have driven transformational change and have single handedly changed the face of many an industry. Amongst the sectors that have undergone a major disruption, Financial Services

Blockchains and Banks: The Blind Date has begun

Pratima H INDIA: When one first stumbles upon the words – hard fork and soft fork, one is inclined to check if it’s some cooking reality show running by mistake. But no, this is about money, of all things, and

Big Data beckons banks

Rajashekara V. Maiya INDIA: Nearly 90 per cent of the quantum of data generated from the beginning of civilization until 2003 was created in 2015 alone. In 2020, the same amount of data will be generated every second! Even so,

Mudra Bank develops mobile app using Appzillon

CHENNAI, INDIA: Mudra Bank has chosen i-exceed’s Appzillon to extend their services across mobile platforms. Appzillon is an omni-channel application development platform that helps organizations worldwide in their digital initiatives. Micro Units Development & Refinance Agency Ltd (Mudra) was set

Axis Bank sets up innovation lab & accelerator in Bangalore

BANGALORE, INDIA: Axis Bank is coming up with an innovation lab facility in Bangalore, ‘Thought Factory’ – aimed at accelerating the development of innovative technology solutions for the banking sector. The bank is experimenting with emerging technologies such as blockchain,

DBS Bank banking big on Office 365

SINGAPORE: DBS Bank is being announced as the  first Singapore bank to adopt cloud-based productivity technology, Office 365, in the workplace, enabling its employees to change the way they work, as well as make a leap forward in terms of mobility,

DCB Bank launches Aadhaar based ATM in Bangalore

BANGALORE, INDIA: DCB Bank today launched, Bangalore has got its first “Cardless and PIN less” ATM that accepts Aadhaar number and the fingerprint (biometric) to dispense cash from the bank account. DCB Bank pilot launched Aadhaar based ATM in Mumbai,

Paytm’s payments bank will run on Infosys Finacle CBS

BANGALORE, INDIA: Paytm will use Infosys Finacle Core Banking solution for its new payments bank business. Paytm will leverage Finacle’s proven platform for its deposit products and payments platform, enabling it to rapidly roll out innovative offerings. Its Modern APIs

India Post to open 650 payments bank branches by 2017

NEW DELHI, INDIA: The government today cleared a proposal to set up the India Post payments bank with a corpus of Rs. 800 crore, which is expected to be operational by March 2017. India has the largest Postal Network in the

Sun-set hour for traditional banks?

Jonathan Kaftzan INDIA: I don’t know about you, but as time progresses, I find myself going less and less to the bank and doing more of my banking online. Once upon a time, banks required a customer’s physical presence to

Banks chuck legacy vendors, startup love deepens

BANGALORE, INDIA: Despite banks facing intense pressure to increase efficiencies and reduce costs while delivering next-generation digital services, legacy application vendors have been slow to respond to new requirements, according to a new report from Gartner. New vendors are emerging

Ujjivan Financials’ IPO draws massive response

By : CIOL Writers

Small finance bank (SFB) licensee Ujjivan Financial Services’ initial public offering (IPO) raised Rs. 885 crore in an initial public offering (IPO) that closed on Monday after receiving spectacular demand for more than 40 times the shares on offer. Ujjivan’s is

Can banks ward off fintech challenge with a startup mentality?

Balwant C Surti In recent years, the Bank, that grand edifice of solidity and security from days past, has come under threat from sources ranging from regulators to customers to fraudsters to legacy technology. And today, it stands on the

Bangalore startups get a dedicated bank for their needs

BANGALORE, INDIA: There are not many banks in India, which offer specialized service for startups. To address the needs of the growing base of startups in Bangalore, RBL Bank has started of an exclusive branch for startups in the city.

Why banks should consider FinTech partnerships?

MUMBAI, INDIA: FinTech providers are making increasingly significant inroads with customers, yet the vast majority of banks admit they are not adequately prepared to manage this emerging FinTech threat, finds the 2016 World Retail Banking Report (WRBR), by Capgemini and

Infosys Finacle now on Oracle cloud

BANGALORE, INDIA: Infosys Finacle will now be available as a managed service on Oracle Cloud. This offering will enable banks globally to leverage Finacle’s solution suite, along with other enterprise-class applications hosted on premise or in an external environment. The

Financial inclusion is an opportunity worth $380bn

LONDON, UK: Banks can address an additional US$380 billion market in annual revenues by targeting micro-enterprises and bringing unbanked and underbanked adults into the formal financial system, according to a new report by Accenture. The report “Within Reach” outlines how to

Tech Mahindra supports microfinance institution’s expansion plans

BANGALORE, INDIA: Tech Mahindra have implemented Temenos T24 for Microfinance and Community Banking for Grameen Koota Financial Services Private Limited (Grameen Koota). This will help Grameen Koota reach a larger client base. T24 for Microfinance and Community Banking is specially