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Fintech

FUNDAMENTALS OF CHOOSING AN ICO DEVELOPMENT COMPANY

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There are a ton of motivations to employ a business expert whether you need to launch an ICO. We should assume, in case you’re running a company which techniques have fizzled and you don’t have enough thoughts on what to do and what not to, this is the phase when you need to understand that you have to go to a business specialist. Is it accurate to say that you are searching for creative productive counseling to begin your own ICO stage and work for yourself? On the off chance that indeed, at that point you are in the ideal place!   The interest for ICOs (Initial Coin Offerings) has been expanding step by step in the worldwide market. New businesses raise their capital through ICO. Through counsel, we can decrease the method for doing as such, ICO business is exceptionally comm...

Indian Fintech Startup Funding

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  Digital Lending Startup ZestMoney Raises $13.4 Mn From Xiaomi, Others Existing investors PayU, Ribbit Capital and Omidyar Network also participated in the round The company plans to strengthen its technology and data science capabilities ZestMoney will also work to expand use cases for the core ZestMoney Affordability Product  

Providing a Frictionless and Secure Customer Journey in PSD2

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European leaders have long identified that the future of the financial services lies in the co-existence of the conventional banks with emerging fintech. However, to reach to that stage, security of the customer data is the major challenge. Despite industry efforts, fraudulent transaction levels are on the rise in Europe.  Payments Services Directive 2 (PSD2) introduces the concept of Strong Customer Authentication (SCA) to provide transaction security. However, this can put Payment Service Providers (PSP) in a Catch 22 situation by having them tread the thin line between transaction security and customer experience. Let’s see how Risk Based Authentication (RBA) as mandated in the PSD2 guidelines can play the balancing act without compromising on security and ease of use. What is PSD2? PSD...

Fintech is no more the new kid on the block!

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  As NASSCOM 10,000 start-ups presents the second edition of India Fintech Day (#FintechIn5), the themes for this year’s event clearly highlight that Fintech is no more a new phenomenon. In fact, we are no longer just talking about digital payments, which was every coffee table’s discussion last year, particularly after demonetization. We are now in the new era of technological disruption, which even goes beyond SMAC (social, mobile, analytics, cloud) to spread out to artificial intelligence, blockchain, regtech, alternate lending and a lot more. Do attend the event, but if you are not able to, download this 4-pager document on Fintech Landscape as covered in NASSCOM Strategic Review FY 2017, to get the key highlights. (P.S – this is part of a paid report, and we are...

Customer Liability in The Age of Digital Banking

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Who is liable for money lost when fraud occurs in a customer’s bank account or card through illegal access/use of ATM or any of the Digital Channels (Internet Banking, Mobile Banking, Payments, E-wallets, etc.)? The answer depends on the country where the account is being operated. While the customer is responsible for the safe keeping of his/her ATM Card, Pin, Internet Banking and Mobile Banking credentials, different countries have different regulations on ‘limited liability’ of the customer. When a customer discovers and reports fraud in her account through the use of ATM, Internet Banking or Mobile Banking, she is not liable for the full funds lost. In the US, the Federal “Regulation E” Consumer Protection Act ensures that customer’s liability is capped at $50 if she contacts the finan...

A ‘Yin and Yang’ Approach to Growing Top-line and Bottom-line

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How To Monetize your Anti-Fraud Solution to Make Money for you In Chinese philosophy,   yin and yang (also yin-yang or yin yang, ‘dark-bright’) explains how seemingly opposite or contrary forces may actually be complementary, interconnected, and interdependent in the natural world. This intriguing idea actually applies perfectly in the context of banking, if we were to see the yin as saving money (from losses) and the yang as making money (from sales). The fundamental principle is that the very same investment in data analytics and real-time decisioning for detecting/preventing fraud can be monetized for earning more revenues. Imagine an intelligent system that understands customers’ behavioral patterns to detect and prevent fraud is also creating precise personas for marketing teams to ta...

Payment Options – One Size Does Not Fit All

The word ‘cashless’, ‘digital payments’ is currently trending and is the most read about after 8/11. Almost every day, these terms are commonly used in different Indian media. With the government introducing various incentive schemes for merchants and consumers to boost digital payments by reducing MDR, we expect to see a behavioural aspect to change with rise in digital payments in 2017. And more importantly, it is important to observe if we Indians have complete flexibility for making cashless payments in different modes. Unlike the western world where credit cards are the default payment mode, in India there are various payment options available: Payment through netbanking, Debit/Credit cards, mobile wallets, mPoS, UPI, QR Code Aadhar enabled payment, *99# and so...