Category: Finance

IndusInd Bank, one of the leading private sector banks in India, has launched a new mobile banking app called ‘INDIE’, which aims to provide a personalised and intelligent digital banking experience to its customers. The app, which was unveiled on October 4, 2023, offers a range of features, including ultra-flexible products, instant line of credit, transparent rewards program, high-interest savings account, fixed deposits, and safety and security features. ‘INDIE’ offers…

What is Yield and how does it work? Airwallex, a Melbourne-based fintech unicorn, has introduced a new product called Yield, which allows businesses to earn returns on their foreign currency balances without opening overseas bank accounts. Yield, which is backed by JP Morgan, offers competitive interest rates for Australian and US dollars, and promises to expand to other currencies and markets in 2024. Yield works by pooling the funds of…

What are neo-banks and why are they popular? Neo-banks are digital-only banks that offer banking services without physical branches or traditional infrastructure. They rely on technology to provide convenience, efficiency, and personalization to their customers. Neo-banks are popular among tech-savvy and young consumers who prefer a seamless and hassle-free banking experience. Neo-banks are also known as challenger banks, as they aim to disrupt the status quo of traditional banks in…

A New Era of Financial Management Elon Musk, the tech mogul known for his revolutionary ideas, has set his sights on reshaping the financial landscape. His latest venture involves transforming X, previously recognized as Twitter, into a comprehensive financial hub. This bold move aims to integrate various financial services within a single platform, potentially making traditional banking systems obsolete. X is poised to become a super app, where users can…

The financial industry is undergoing a rapid transformation as fintechs, or financial technology firms, offer innovative and customer-centric solutions that challenge the traditional banking models. Fintechs have grown significantly in the past decade, attracting more users and investors with their digital platforms, collaborative partnerships, and agile teams. However, the recent economic downturn and changing consumer expectations have also forced fintechs to rethink their strategies and focus on sustainability and profitability.…

Open banking is a revolutionary concept that allows customers to access their financial data and services from different providers through APIs (Application Programming Interfaces). However, this also exposes them to various security risks and challenges. In this article, we will explore some of the best practices and solutions to enhance open banking API security and protect customers’ data and privacy. What is Open Banking and Why is it Important? Open…

The banking sector of Bangladesh is facing a severe liquidity crisis, which is hampering its ability to lend and invest. The crisis is caused by various factors, such as high inflation, low deposit growth, dollar shortage, and rising import bills. The liquidity stress has become a major concern for the policymakers and the bankers, who are trying to find ways to overcome the challenge. What is liquidity and why is…

The challenge of “updating” the guajiros The Cuban government is facing a difficult task of convincing the farmers, especially those who grow tobacco, to adopt the banking reform that aims to reduce the use of cash and promote electronic payments. The official press reported on Saturday that the farmers have no culture of banking and prefer to keep their money in hand. The banking reform is part of the economic…

What is a sale-leaseback deal? A sale-leaseback deal is a transaction in which a company sells its real estate assets to another party and then leases them back for a fixed period of time. This way, the company can free up capital that was tied up in its properties and use it for other purposes, such as investing in its core business, paying off debt, or restructuring its balance sheet.…

August Orders Down 12.2% from Last Year According to the latest U.S. Manufacturing Technology Orders Report published by AMT-The Association For Manufacturing Technology, new orders of manufacturing technology totaled $404.2 million in August 2023. This is a 16.1% increase from July 2023, but a 12.2% decrease from August 2022. Year-to-date orders reached $2.23 billion, 12.6% lower than the first eight months of 2022. The report shows that the manufacturing technology…