The 2008 financial crisis brought with it heightened scrutiny of the financial sector worldwide. Then, the emergence of digital technologies has presented financial institutions (FIs) with new challenges, including data breaches, cyber security risks, and growing cases of online fraud. This makes complying with regulations a difficult and expensive task. RegTech or regulatory technology — a wide range…

Quantum computing is fast being recognized as a technology with the ability to bring about far-reaching reforms in a wide section of industries, including fintech. Computing performed by a quantum computer is referred to as quantum computing. In comparison to conventional computing carried out by a classical computer, a quantum computer ought to possess significantly…

India’s Finance Minister Nirmala Sitharaman presented the Interim Budget 2024-25 on February 1 this year. While the broader focus on growth was welcomed, some sectors of India Inc. were disappointed as their demands were overlooked. The Interim Budget proved to be a mixed bag. Technology: Fuel for Growth The Budget’s emphasis on digitizing transactions for government programs,…

After a tumultuous year, the fintech industry is expected to witness some respite in 2024. Segments that are expected to attract investment include lending, wealthtech, and insurtech. Fintech companies are also expected to purchase small banks and NBFCs during the year. The year 2023 brought with it a fair share of challenges for the fintech industry,…

Personalizing products and services to customers’ needs and preferences — such as through interactive communication channels, targeted offers, personalized user interfaces, and tailored recommendations — has become a critical component in determining the direction of the rapidly developing fintech market in India. Personalization in the fintech space refers to offering services or goods based on user…

The fintech industry in India is expanding rapidly, accompanied by the simultaneous evolution of digitalization, helping people and companies establish their identities online. The dynamics of digital identity verification — which can be described as a one-to-one relationship between people and their digital presence —are at the forefront today. Verifying a person’s digital identity is…

The fintech industry in India is growing exponentially, with an increasing number of companies joining the bandwagon. With a fintech acceptance rate of 87%, higher than the global average of 64%, India is in the lead. This industry, however, has brought with it certain issues relating to data security, money laundering, cyberattacks, consumer protection,…

"Blockchain has a branding issue," says Martha Bennett, Vice President and Principal Analyst, Forrester Research. The branding problem resulted from blockchain's tight relationship with cryptocurrencies and Non-Fungible Tokens (NFTs). The vast majority of people only identify blockchain with the very volatile cryptocurrency market. But there are other applications for technology too. Speaking about the core…

In 2021, Mike Winkleman, a digital artist famously known as ‘Beeple’ sold his collection of 5,000 NFT (Non-Fungible Token) drawings for a whopping $69.3 million. It is listed as one of the most expensive artworks sold by a living artist. The same year, Grimes’ NFT art sold at $6 million and also made rounds on…