Covid-19 Accelerates Banks’ Move to Digitalization

The economic crisis resulting from COVID-19 pandemic-led lockdown has brought about drastic changes in everyone’s life and the way businesses are done, including the banking industry. While there have been a lot of talks to move to a more digital banking model for almost a decade, the COVID-19 outbreak has coxed the banking sector to …

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P2P Lending, RBI’s take and Our Take. Propelling the economy?

What does RBI think?​ The RBI devised a regulatory framework for all Peer to Peer lending companies, which is categorized as NBFC-P2Ps, conditioned the minimum NOF (Net Owned Fund), set down various regulatory and prudential requirements within this framework. Finally, the P2P lending platform is recognized as an NBFC- P2P industry with better credentials and respect in the mind of …

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10 ways to Craft your Sales Incentive Plans and Achieve Pathbreaking ROI!

It is not easy to achieve growth in today’s changing and challenging selling environment. Sales representatives are interacting with informed customers, who are prepared with prior research, and asked to sell new types of complex, digital products. Organizations need to find new ways to motivate all employees to improve performance and increase business value. Considering …

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Why do enterprises need a Business Rules Engine?

The banking and financial markets are full of regulatory requirements. Numerous business rules and decisions are made within the financial industry to process claims, validate transactions, compute benefits, determine rates, and deal with exceptions. It would be easy to manage these rules if they were fixed. However, businesses have intricate processes that continually evolve. As …

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How is Coronavirus Disease 2019 (COVID-19) impacting the BFSI industry

Covid 2019 has literally shaken the world, it has slowed business down, it has hit a pause on our economy and impacted all the sectors you can think about. The most impacted is the financial sector, this perhaps could be the most serious challenge faced by banks and NBFC’s. The after impacts of COVID-19 will …

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Comprehensive Machine Learning Applications for Banks and NBFC’s with Use Cases!

Artificial Intelligence (AI) spend in the banking and finance industry in the United States has increased at 82.9% during 2018 to reach US$ 696.3 million. Over the forecast period (2019-2025), spend on AI is expected to record a CAGR of 28.4%, increasing from US$ 1,094.9 million in 2019 to reach US$ 6,289.1 million by 2025 …

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8 Things You Should Look for Before Selecting a Compensation Management Solution

“A recent Gallup poll survey revealed that only 2 in 10 employees say their performance is managed in a way that motivates them to do outstanding work and 21% employees strongly agree their pay and incentives motivate them to achieve their goals”. We quite agree to that but here is the catch – it’s a …

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