Blog

Elephants can Dance! Here is some good news and bad news, but the bad news first: Retail Banking is being challenged by other market players who are not Banks but payment or transaction services in some form. The good news is bankers can give challengers a run…

All along fintech and financial services have been talking about financial inclusion… we extol at length about the virtues of reaching out to the unbanked, unserved, and underserved. We engage in boardroom brag and PR tom-tom on how we are forever widening the inclusion net. Hang…

App covers multiple platforms and communication channels to enhance customer satisfaction and branch productivity. Allow customers to transact from their mobile devices at any time. Third party agents can use Modifin’s interface to perform transactions on behalf of the bank, meaning customers can fund and…

Digitally-savvy retailers have for long worked on strategies that fluidly combine a physical and online presence. With a strong digital presence and creative strategies, they have been able to offer personalised experiences to their customers. Such extensive and personal engagement by retailers have largely influenced…

Don’t find customers for your product, find products for your customers! – Seth Godin According to a Boston Consulting Group (BCG) study, by the year 2022, global banking revenues will rise to an estimated $5.4 trillion. This number is 75% higher than the level in…

Globally, small, and medium enterprises (SME) account for more than 60% of total employment. SMEs contribute about $850 billion of annual revenue for banks through deposits, payments, lending, and overdrafts. Therefore, it is safe to say that MSMEs constitute a vital part of a country’s…

The key to success is often the ability to adapt! – Confucius Traditional banks are facing a unique dilemma. On the one hand, they must compete with agile fintech firms (with the best technology), as they offer a consistent customer experience across numerous channels. On…

In 2021’s first edition of Boardroom Talk, Modefin invited Mr.Dorji Kadin – CEO, Bank of Bhutan, to join us in conversation about the banking landscape in the kingdom of Bhutan, what is being done, and how is the country gearing up for the inevitability of…

Banking is transforming with a focus on improving regulatory compliances, bottom lines, and customer experiences. The Covid-19 crisis has the spotlight on customer experiences, as remote access to banking services is no more a convenience but a necessity. Therefore, digitization or providing access to financial…

If you’re working in a bank, chances are your bank may not have switched over to a digital environment and customer onboarding is still a ‘good to have’ discussed in meetings, and yet to actually make a mark. But you’re not alone. Digital banking solutions,…