Just when we thought chequebooks and cheque processing was on its way out , we see a unique use case where the traditional banking instrument uses new age disruptive technology such as blockchain to combat cheque fraud.Emirates Islamic, one of the leading Islamic financial institutions in the UAE, announced that it will introduce blockchain technology into its cheques as a fraud prevention measure . Read on to find out how Cheque Chain will work.
The Union Bank of India heist is another wake up call to evaluate technologies that avert and plug loopholes and end what is today a wire transfer monopoly
The futurists of the world are besotted by the science that simulates the engagement , decision and the discovery process of the human brain -in other words Artificial Intelligence(AI) or Cognitive Sciences. Cognitive systems quickly identify patterns similar to a way our brain identifies situations and responds to it. Within AI , there are a number of different technologies and they lie at different points in the curve of adoption with virtual assistants and robo-advisors riding the crest of adoption. This post talks about the merits of the lesser known yet immensely intriguing Semantic Technology .
India is set to make up for its recent absence from the AI circuit and companies are making big investments to make it happen.Read on
The Reserve Bank of India (RBI) has said all payment systems will remain closed on 1 April. It is a change from its earlier directive asking banks to remain open on the first day of the next fiscal beginning 1 April. However, there is no change with regard to the payment channels, including RTGS and … Continue reading RBI says all payment systems to remain closed on 1 April 2017
This is a multi-part series written for a leading global e-publications called LetsTalkPayments . To view the detailed post click on the links below The Phoenix Rising The first part of the LATAM Fintech Series explores the region's challenges ,inspite of which it is becoming a leading destination for expansion and investment for the world with … Continue reading Latin America and Its Fintech Fervour
Fintech Startups and the redemption of high technical debts. Who really pays it off ?Read on,,,
India’s first multi-bank mobile payment platform Chillr is all set to launch its Unified Payments Interface (UPI) facility by March-end, which will enable customers of nearly 45 banks to make payments on a single platform.Sony Joy, CEO and Co-Founder, Chillr, estimates around 1.50 crore customers to be on-board this platform by the end of 2017-18. “Our … Continue reading Mobile payment platform Chillr to launch UPI
Any institution that works to establish financial inclusion takes on the role of becoming an emissary of trust - trust in the economy . To establish the first level of trust for the unbanked is one of the biggest challenges across third world economies. Postal networks have often been the most effective tools of establishing … Continue reading Driving Financial Inclusion through India Post
As we struggle to fathom how a decentralized uncontrolled currency may be part of tomorrow’s real world economy there is a paradigm shift in how we perceive money with the onset of blockchain and the bitcoin in banking today. What’s baffling is that the entire control and intelligence lies embedded in an algorithm created by … Continue reading Blockchain Economy – Embracing the Algorithm