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
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
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