Author: Bfsinxt Desk

Rakesh Jha, Executive Director (Designate), ICICI Bank said, “We are delighted to be part of the initiative of setting up DBUs across the nation, under the aegis of RBI. They operate like digital branches where customers can undertake banking transactions digitally, at a time of their convenience. They can also seek guidance from experts on banking services at these units.

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Customer experience is a major market driver and competitive advantage in the banking industry, and new customer-centric initiatives must provide a differentiated and seamless experience for fast, easy, and full access from anywhere, at anytime, and on their own device. Bfsinxt.com spoke with Vishak Raman, Vice President of Sales, India, SAARC and Southeast Asia at Fortinet on how security operations and strategies are a true enabler and driver of innovation and business initiatives for banks.

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Narendra Ostawal, Managing Director, Warburg Pincus said, “We believe micro-enterprises in semi-urban and rural India are underserved by formal sources of credit and we believe Vistaar has the potential to fulfil that need gap and be a driver for broad-based growth on those regions and communities. Warburg Pincus has a deep history in partnering with exceptional teams, particularly within financial services and looks forward to a similarly exciting future at Vistaar.”

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Sriram H. Iyer, Head – International Banking Group, ICICI Bank said, “With the launch of ‘Smart Wire’ facility, which is an industry-first initiative, we are offering our NRI and resident customers a unique combination of speed and an enriched experience of executing a cross-border transaction. We believe this new facility will help our customers to conveniently carry out quick and hassle-free money transfers.”

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A study by Capgemini Research Institute titled as ‘World Payments Report 22’, finds that new payment methods are expected to increase from around 17 percent of total non-cash transaction in 2021 to around 24 percent by 2026. While B2C payments have flourished, the B2B value chain has too often been neglected. It added, “The payments industry has remained resilient through recent unprecedented market volatility, accelerated by the adoption of innovative new digital payment methods for consumers. However, many banks are failing to provide the same support for small to medium businesses.” According to the report, despite promising post-pandemic recovery levels,…

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