Digitization

APRA And Its Contribution In The Australian Financial Sector APRA, or the Australian Prudential Regulation Authority, is a financial regulator that was formed in 1998 as a result of the Wallis Inquiry. APRA is an independent statutory authority that reports to Parliament through the Treasurer. APRA’s primary responsibility is to regulate Australia’s financial sector and …

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APRA Overview: What You Need To Know About The Australian Prudential Regulation Authority This blog post will provide an overview of the Australian Prudential Regulation Authority (APRA). We will discuss APRA’s role in the financial sector, its regulatory reporting requirements, and how they are supporting the growth of fintech in Australia. We hope that this …

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Banking In The Metaverse: Virtual Reality Powering The Banking Experience For better or worse we have all already heard of ” Virtual Reality “, while perhaps it could be the first time you hear of “Metaverse”. Introduction In this article, we will discuss all the aspects of “Banking in the Metaverse”. Covid-19 has accelerated Digital …

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Automation Is Not The Final Stop. For An Invisible Bank, Autonomous Is The Next Step Author: Vinith Basani, Solutions Consultant, Profinch Solutions HOW THINGS ARE “Banking is necessary but, banks are not” –  is a heavily used, timely quote, and it is where I see the trend going. The world of INTERNET has brought in a …

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Digital Claims: The ‘Moment Of Truth’ For Insurers Author: Vijay Kasturi, Head of Sales & Business Development – Western Europe at Profinch Solutions When a human being or even an animal faces risk, there can be one of two reactions – fight or flight. Risk is inarguably ubiquitous and something that most of us deal with …

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6 Missing Pieces Of Digital Banking That Could Bring Transformation Banks and financial institutions were the earliest adopters of technology and banking has undergone massive transformation ever since they opened its doors to technology and digitalisation. Core banking services, NEFT-RTGS and finally debit cards introduced by banks paved the way for digital transformation. This stupendous …

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The Need for Seamless Customer Onboarding The advent of technology and digitization has ensured that individuals are now increasingly aware of the options available to them in all contexts – be it clothes, food, entertainment, or the big F – finance. Previously, people only had second-hand knowledge on money matters – they largely depended on …

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Digitization of African MFIs – The Ground to Cover and Opportunities Therein Author: Krinal Gupta, VP – Product Sales (Africa) at Profinch Solutions As with almost every global economy, the African economy has also suffered major knocks from the Covid-19 pandemic, resulting in a worrying drop in the country’s Gross Domestic Product (GDP), as well as its …

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Digitalizing Fund Transfer Pricing: 8 Benefits of platform approach over patched solution Banks today work in a highly competitive and complex profitability landscape which requires them to perform exceedingly well in order to meet heightened expectations. An effective Fund transfer Pricing model acts as a large piece of the puzzle and can effectively aid robust …

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The Power Of Open Banking – Turning Foes Into Friends “You must learn to let go. Release the stress. You were never in control anyway” – Steve Maraboli The banking industry seems to be more accepting of this universal truth now. New competitors to traditional banking in the form of Big Techs and Neo Banks …

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