“Open Banking” in a nutshell

Banking is changing, the way we do banking has changed.

News and Trends in Financial Services

The terms “Open Banking” or “API Banking” comes up quite often in discussions about the future of Banking and finance. the term is also used to describe two pieces of financial regulation: The competition and Market Authority’s (CMA’s) ‘Open Banking Remedy’ and the European Payment Services Directive 2 (PSD2).

But what does this mean in conrete?

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Effects of Demonetisation on Microfinance in India

Very good points mentioned in the article on Fintech

Daily Fintech

microfinance

This is a guest post by Arunkumar Krishnakumar, who is deeply involved in the early stage Fintech scene in London but was raised in India. So he is highly qualified to write about this important and controversial topic.  

Muhammad Yunus, who was awarded the Nobel Peace Prize for founding the Grameen Bank and pioneering the concepts of Micro Finance, said:

“I did something that challenged the banking world. Conventional banks look for the rich; we look for the absolute poor”

The Micro Finance industry, despite being hailed as a saviour of the poor, has had a turbulent ride in many parts of the world. There have been various incidents in the emerging markets where farmers have committed suicide when they haven’t been able to pay off their debts. As a result, the industry was regulated in some parts of the world, and institutions offering Microfinance had…

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