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ENABLING ACCOUNT AGGREGATOR ECOSYSTEM – PAPERLESS CONSENT DRIVEN ACCESS TO BORROWER’S FINANCIAL DATA
ACCOUNT AGGREGATOR, WHAT IS IT? Account Aggregator is a type of RBI regulated entity (with an NBFC-AA license) that helps an individual securely and digitally access and share information from one financial institution they have an account
Enabling Account Aggregator Ecosystem - Paperless consent driven Access to Borrower’s Financial Data
Account Aggregator, What is it? Account Aggregator is a type of RBI regulated entity (with an NBFC-AA license) that helps an individual securely and digitally access and share information from one financial institution they have an account
Frauds in Financial Institutions and How Technology is doing an amazing job in preventing them?
The banks and other financial institutions reported frauds worth Rs 1.38 trillion in 2020-21 and Rs 1.85 trillion in 2019-20, according to the reports released by the Reserve Bank of India (RBI). In 2019-20, RBI reported Rs 1.85 lakh crore
Top 5 Benefits of using automated Credit underwriting system for financial institutions
When deciding whether to extend credit to one of your clients, there are many factors that go into the process, including your customer's income, expenses, debts, and credit history. Even if your credit department has successfully managed t
Understanding credit underwriting and how its assessment has changed in the age of automation?
Banks and other lending institutions will often use credit underwriting to assess customer’s financial capability before approving or rejecting them for a loan or credit card. Although the practice itself isn’t too difficult to understand,
What is KYC and Video KYC? It’s permissibility, safety and benefits
The term Know Your Customer (KYC) has become quite popular lately, especially in the wake of all the regulations by governments to combat illegal financial activities. However, it isn't the only term that you need to be familiar with if you
Benefits of Video KYC process for the Financial Institutions
The RBI (Reserve Bank of India) clarified its stance on KYC. Know Your Customer (KYC) refers to the process of identifying and verifying customer information, both within and outside India that is used by financial institutions to help prev
