Introduction Open banking is a system where banks and financial institutions share customers’ financial data with authorized third parties. This data sharing, previously not allowed, enables the making of innovative financial services and products, such as comparison tools and personal finance management apps. To understand this system, let us look into the essentials crucial for […]

Introduction As Indian generative AI has been progressing, let’s take a look at its impact on the financial sector and how it is boosting the Indian economy. Generative artificial intelligence (AI) in India is rapidly advancing across various sectors, leveraging technologies like generative adversarial networks (GANs) and variation autoencoders (VAEs). This technology holds promise in […]

Introduction Over the years, as we’ve witnessed the Finance Sector evolving, we noticed that certain innovations pose the cornerstone of progress, i.e., Blockchain Technology.  Blockchain emerges as a transformative catalyst, reshaping conventional norms and driving the industry towards an unconventional yet progressive path. As Digital Technology continues its relentless growth, the adoption of Blockchain in the […]

In the present banking world of finance services, and insurance, data is considered to be the king. To evolve and stay competitive in this sector, organizations need to utilize Big Data Analytics and Business Intelligence platforms for data-driven decision-making. This blog shall focus on understanding how these tools are able to transform BFSI sector and […]

As the world enters the cloud generation, mainframe-based banking platforms are nearing an evolutionary dead end. Slowly but surely, the bank’s entire technology ecosystem – from the programming languages, the operating systems, and the hardware, to the way their IT organizations operate – will all be in need of modernization. The situation is worsened by […]

The financial industry is evolving at a rapid pace, all thanks to Technological Advancements and increasing customer demands. If we were to discuss about one such innovation that has swept through the financial institutions and banking sectors, it would be the emergence of open banking and the development of APIs. Recent studies have revealed that […]

Introduction In today’s digital era, The financial services industry is growing and transforming exponentially and this change is fueled by incorporating advanced technologies like Machine learning and AI in financial services. Across various sectors of financial services, about 75% of them incorporate the usage of at least one significant AI use case to accelerate their […]

Are you ready for an unforgettable experience at the BFSI IT Summit in Singapore? Get ready to hear from some of the brightest minds in the banking, financial services, and insurance industries on May 12th, 2023. The theme of this year’s summit is “Transitioning into the Future with Web 3.0, Cloud, and Cybersecurity.” As part […]

The Singaporean banking sector has long been a powerhouse in Southeast Asia, playing a pivotal role in the region’s financial landscape. Trends in this dynamic industry have evolved considerably in recent years, driven by factors such as Technological Advancements, changing Customer Expectations, and mounting regulatory pressures. Factors such as a sound economic and political environment, […]

Technology has modulated the way the Banking and Financial service industry operate. Over the years, the banking industry began to embrace technologies such as Artificial Intelligence, Machine learning, Mobile Banking, RPA and Blockchain with a view to leverage existing data and transforming customer experience. The role of innovation in bringing automation to the industry has […]