Praveen Varriar
Superapps: The rise of new era for Digital Banking
The concept of a superapp, super app, or super-app has changed the way users interact with digital services. A super app creates a mini app ecosystem that integrates various functionalities into a cohesive platform. By leveraging its platform’s unique capabilities, it can offer a seamless,…
Lifestyle Banking: Reshaping the future of consumer banking
Over these years, the banking industry has undergone drastic changes driven by digitalization and changing consumer preferences. Banks and financial institutions are looking forward to a concept that aims to provide a comprehensive omnichannel banking experience that seamlessly integrates with various aspects of customers’ lives. Recognizing…
Identification, Authentication, and Authorization: The three Cornerstones for Digital Security
In today’s new digital era, all our activities and interactions are constantly monitored and verified. We must be continually identified, authenticated, and authorized to access any service. While these terms are often used interchangeably, they are distinct processes that play crucial roles in ensuring online…
Omnichannel Banking vs. Multichannel Banking: Why One Reigns Supreme?
In today’s digital age, how customers interact with banks and financial institutions has dramatically transformed. The rise of technology has given birth to various banking channels, from traditional branches to mobile apps. Today’s customers demand more flexibility and convenience than ever before when it comes…
The New African MSME Banking Era: Empowering Growth Through Digital Tools
Africa’s economic future is bright, fueled by a burgeoning population and a vibrant spirit of entrepreneurship. The Micro, Small, and Medium Enterprise (MSME) sector is at the heart of this growth. However, MSMEs often need help accessing the financial tools they need to thrive. This…
Omnichannel Banking Solutions elevate Customer Experience and Transform the Financial Industry
The financial services industry, or BFSI, is rapidly evolving, and consumers demand more convenience and accessibility in their banking experiences. To meet these demands, banks and financial institutions are turning to omnichannel banking, which seamlessly integrates multiple banking and service delivery channels into a cohesive…
Revamping Payment Practices: The Emergence of QR Codes for Merchant Payments in Emerging Markets
Given the pace at which today’s digital customers function, businesses must implement strategies to collect payments quickly and efficiently. A Quick Response (QR) code offers that and more. QR codes have become integral to the payments industry in recent years, providing a cashless, convenient, and…
From Exclusion to Inclusion: The Importance of the ‘Business Correspondent’ Model in Creating a Level Playing Field in Banking
The traditional banking model has been dominated by physical branches, historically a significant barrier to inclusion for many people, particularly those living in remote and rural areas. To ensure greater Financial Inclusion and increase the outreach of the BFSI sector, the banks started giving permits…
Agency Banking for New Age Banks: Connecting Financial Services to Underserved Communities
Agency Banking is a branchless banking that allows banks and financial institutions to extend the network and reach of their products and services cost-effectively through authorized agents. On behalf of banks, an agent offers simple banking services like deposits, withdrawals, transfers, and bill payments to…
The Next Frontier in Mobile Payment: Unlocking the Scales of Open Banking and APIs
Digital wallets have emerged as one of the crucial players in the digital transformation journey of the banking sector. With their convenient and secure payment options, they have successfully captured the attention of consumers and businesses alike. According to a research paper, there were over…