Tag - Fintech

How Are Neo Banks Changing The Conventional Banking Industry?

How Are Neo Banks Changing The Conventional Banking Industry?

With the recent advancements in almost everything (plus the infamous ‘pandemic’), every industry has gone through changes (more or less, but yes). Although ‘banking’ didn’t need many changes, with digitalisation on the rise, even the banking industry has become a racing field for the survival of...

Now KYC on Video! RBI launches new feature for bank customers

Now KYC on Video! RBI launches new feature for bank customers

RBI has introduced Aadhaar-based Video Customer Identification Process (V-CIP) to allow banks and other lenders to remotely complete KYC of customers on video. Lenders can use this facility as an alternative to the already available e-KYC facility. The central bank has amended its guidelines under...

Number of debit cards in India down by 15%

The number of debit cards in India is down by 15% from 998 million cards , as on Nov 3, 2018 to 843 million, as of October 2019. Reason? As per bankers, nearly 155 million cards went out of the market because of the EMV migration from magnetic-strip to chip-based cards, weeded out dormant accounts...