Banking

Innovations and practices implemented by FIs in blockchain technology.

Square, Inc. is all set to start its bank “Square Financial Services” in 2021 and open it to small-business customers.

81% of people recently abandoned at least one online form and most won’t return to complete it. The top two reasons?

As the end of 2020 draws near, banks and payment service providers in the European Union face yet another PSD2 deadline. Full enforcement of the much-debated Strong Customer Authentication (SCA) across the region will begin from January 1, 2021*. This implementation comes under extraordinary circumstances caused by the pandemic. Much of Europe has moved into another phase of lockdowns, causing a shift in shopping behavior from brick-and-mortar to digital. The change in purchasing habits has also brought in several first-time online shoppers.

Customers can now have the option of fulfilling all their banking needs through an iPad.

With big banks denying the vast majority of small-business loan applications, the role of other lenders becomes increasingly important.

Initial perceptions of FinTech startups pegged them as standalone disruptors of the financial ecosystem. But the consensus within the financial sector is shifting.

Largely under the influence of FinTech, the robustness of internal infrastructure in banking went from being an industry norm to a disadvantageous hallmark.

Traditional banks are now facing intense competition from FinTech players that are young, dynamic, and more adept at providing financial services in today’s digital era.

Banks are now finding ways to involve themselves with startups to reap benefits by making early-stage investments and launching mentorship programs to attract talent.

Global money transfer company TRANSFAST today announced partnerships with three leading Kenyan banks for instant deposits, as well as the launch of its M-PESA service.

It is estimated that the Cholamandalam's parent company Murugappa group together has over 3.5 million rural customers.