Best Pratices for Open API Deisgn
Technical Updates

BEST PRACTICES TO OPEN API DESIGN

API or Application Programming Interface, when I first heard of this term, I thought it to be some form of magical code that helps in fewer bugs and improves quality. However, after exploring, I got to know how deeply I was wrong.  API’s that are part of modern mobile and …

Agent Banking
Financial Inclusion

Agents Enabling Financial Inclusion

Agents are the face of change to people’s financial security and independence. What is an Agent? What is a Business Correspondent?     Why We Need an Agent?   Modes Of Operation Of Agent   Come and signup for Teknospire Agent Banking Solution, and help in enabling financial and social …

Banking need to be Omnichannel
FinTech Trends

Why do Fintech Start-ups need to be Omnichannel and not Multichannel?

A few years back when we were looking for a Locker facility in our neighborhood, we found the state cooperative bank as the best choice. With the focus on availing only the Locker facility, we never explored the options like internet banking or mobile banking for the bank. Later with …

Four Pillars of Digital Banking
FinTech Trends

FOUR PILLARS OF DIGITAL BANKING

Banks are aware of the fact that they are no longer serving the traditional customer base, they are in dire need to transform their business models and stay relevant in the industry. Here are the four pillars that could help the banks in realigning their business models either with a …

Myths of Open Banking
FinTech Trends
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SIX MYTHS OF OPEN BANKING

Its just six months that PSD2 came into force, and the Open Banking Implementation Entity (OBIE) stats demonstrate that in June, there have been 1.2 million uses of open banking API’s, up from 720,000 in May. Another report from the Open Data Institute and PwC highlight that the Open Banking …

Open Banking Ready
FinTech Trends

IS YOUR FIRM OPEN BANKING READY?

Open Banking Rule was introduced in January 2018 with a prime motive to empower customers. Today where “Experience, Convenience and Priority” means customer service, Open API Banking is an initiative to streamline the banking services and put the customer first. Open Banking protocol advises financial institutions to use Open API …

Open Banking Inittaives in APAC
FinTech Trends

Open Banking Initiatives in Singapore, Australia, Hong Kong and India

The hurricane Named PSD2 has captured most of the banks and fintech across the globe. Almost six months later –  IDC published a list of APAC countries in terms of readiness for Open Banking. While Singapore And Australia Have Occupied the First Two Slots In the State of Readiness of …

Decentralized Network
Technical Updates

NEED OF THE HOUR – ADOPTION TO A DECENTRALIZED DISTRIBUTED NETWORK?

We are seeing technology-driven networks replacing bureaucratically-driven hierarchies,” says VC and futurist Fred Wilson. It seems Big Data buzz has ended, the need of the hour is not on how to gather data but “how to protect it”? How to stop it from being hacked or access by unauthorized third …

Open Banking Use cases
Technical Updates

OPEN BANKING – EXAMPLES, USE CASES, IMPLEMENTATION, OPPORTUNITIES

In olden days or even a decade back Banking as a service [BaaS] was only taken by trusted entities – BANKS. However, with the technology innovation Banks, Fintech and GAFA [Google, Apple, Facebook, and Amazon] are tapping onto the opportunity open up by the PSD2 directive to offer BaaS. While …

Governance and Financial Inclusion
Financial Inclusion

HOW GOOD GOVERNANCE COULD HELP IN FINANCIAL INCLUSION

Could adequate governance enhance access to financial services? While the short answer is yes, the long-form answer is the review of standards, processes, and act of governance, that could bring in a more profound level of financial inclusion.  We all know how growth and financial inclusion are directly proportional to …