Open Banking, Open Data and Financial-grade APIs

whitePaper | October 21, 2021

Some might say Video Banking is already a "next-generation" technology, and in many ways it is. But even though using video to provide face-to-face communication with remote experts is a welcome addition to online banking, most deployments to date add little more than a trust element. We can still find much room to further improve the customer experience as it relates to video and digital banking, as we will demonstrate in this paper. Video Banking is a remote one-way or two-way connection between you and a bank representative working in a call center, branch office, or from home. There are several use cases for Video Banking, depending upon your location and need. A common Video Banking model is the Personal Teller Machine (PTM),calso called a Video Teller Machine (VTM). A PTM functions like ancautomated teller machine (ATM) outfitted with a built-in monitor, camera, microphone, and speakers to facilitate video interactions. That allows a connection with a remote banker to answer questions about transactions when you need help. PTMs often have the convenience of 24-hour service with remote bankers on a shift-based roster to cover the customer load.

whitePaper | December 22, 2022

Payments is fast becoming the priority for many organizations, acting as the digital connective tissue that is cutting across industries and domains. Businesses and consumers are looking for seamless, frictionless — and maybe even enjoyable - experiences. We’re here to help you understand which could have the biggest impact on buyer behavior and your operations — and which are most deserving of your attention and your modernization budgets.

whitePaper | June 10, 2022

End-to-end digitization of enterprisewide operations enables new customercentric business models, new products and services, new ways of working, and an ecosystem of partners. Digitization is critical to meeting customer expectations and powering financial performance across revenue, costs, and capital.

whitePaper | December 7, 2022

Financial inclusion can be characterised as a means to an end. By ensuring access for households and small and medium enterprises to safe, essential financial services, financial inclusion is a key facilitator of inclusive economic growth. Not only does financial inclusion promote regional economic objectives, it is also considered as an enabler for 7 of the 17 sustainable development goals defined by the United Nations Department of Economic and Social Affairs.

whitePaper | November 30, 2021

In writing this Discussion Paper, “A Proposal for Digital Banks in India: Licensing & Regulatory Regime”, we are pleased to have collaborated with Black Dot Public Policy Advisors as the knowledge partner. Mr Mandar Kagade, Founder Principal at Black Dot made valuable contributions in developing this Discussion Paper. Ms Shehnaz Ahmed of the Vidhi Centre for Legal Policy acted as external expert reviewer of the Discussion Paper and offered detailed comments and inputs. We acknowledge her valuable contribution. We are also grateful for the support and inputs from the Department of Financial Services, Ministry of Finance, representatives of public sector banks including the State Bank of India, and Sabyasachi Upadhyay, Associate, NITI Aayog. Useful insights were also obtained from the deliberations in the conference, “Neo-banking for Business: The Future of Digital Banking”, especially Mr Sopnendu Mohanty, Chief Fintech Officer, Monetary Authority of Singapore. They are gratefully acknowledged. Last but not the least, the inputs offered by the fintech sector stakeholders who were approached for inputs in the course of drafting this Discussion Paper is acknowledged. NITI Aayog would endeavour to continue with the stakeholder consultation in evolving policy dialogue.

whitePaper | August 23, 2022

Over the last few years, consumers have shown extraordinary resilience through much uncertainty. Many have adapted by converting to a digital lifestyle. But creating great customer experiences in this digital-first world can be challenging. Financial Services is a highly regulated industry, and this can create gaps within the customer experience – but it doesn’t have to.