The Indian Banking System is in a deep crisis with non-performing assets (NPA) shooting through the roof. If the recent financial stability report published by Indian banking regulator the Reserve Bank of India is indicative of the current situation, the path to recovery may prove to be a Herculean task.
Like his namesake from the 14th Century Conqueror in Asia, Co-CEO of Route Trading Taimoor Iqbal shares a story of perseverance in the face of giants. Iqbal discusses his 12-year long journey to make the ‘Know Your Customers’ Customer’ in the Home Remittances Sector a force for high street bankers to reckon with...
RegTech is holding the attention of traditional banking institutions to deal with the growing complexities of global regulatory compliance requirements. According to Bengaluru-based FinTech consultant Medici, it estimates the global demand for regulatory, compliance and governance software to reach USD 118.7 billion, by 2020.
While the fault line has been forming for some time, it is about to turn into the Grand Canyon with banks on one side, and tech companies on the other. As of January 2018, the Second Payment Services Directive (PSD2) regulations come into effect across the European Union enabling businesses and customers to use third-party providers to manage their finances.