The Thinking Cubicle

Introduction The rise and impact of Digital Media in the holistic development of the nation is evident to everyone. What has grabbed more attention is the application of digitalised technology in the banking sector, especially in the field of borrowing  and lending activities.  All the tasks associated with lending, when manually performed, took a considerable amount of time, which made the entire process lengthy and tiresome along with inefficiencies and delay. With the advent of digitalisation and automation, the entire process of loan origination can be transformed better making it more efficient, transparent & seamless for both parties. In today's blog, we are going to discuss in detail the prominent lending platforms and how its application has enhanced the efficiency and efficacy of the lending process in today’s banking scenario. To know further, please read the blog till the end. What do you mean by Digital Lending? Digital Lending refers to the process of offering...

Over the years, the banking system has developed efficiently to cater to the ever increasing demand of its customer base. The Digital India Campaign has ensured that banks improvise themselves with the booming technology and latest facilities.  10 New Features in Banking Sector In today’s blog we are going to discuss about 10 new features that are gradually being incorporated in the banking sector to empower its efficiency and utility. Biometric Authentication:   Banks are integrating biometric authentication to further improve the security credentials of the users. This includes facial recognition, fingerprint analysis, iris scanning etc. With the ever rising theft, it is very important to protect the users from breach and theft. AI-Powered Customer Service:  Artificial Intelligence has entered the banking sector as well. AI enabled chat-bots and virtual assistants are present to cater to the queries and doubts of the users, and eventually connects to the online customer...

We all have wondered how easy life would have been if we didn’t have to carry bundles of cash while traveling places. The world isn’t a safe place and theft, and robbery is what we witness frequently. The Covid 19 era introduced us to the concept of Digital Wallet, as a part of our Prime Minister’s mission to transform India into ‘ Digital India ’. We didn’t have to carry cash anymore, and payment can be made in seconds. But what exactly is the Digital Wallet? Let us know in detail in today’s blog, where we are going to discuss everything related to this booming innovation. What is a Digital Wallet? A Digital Wallet is a software induced system that is specifically designed and integrated with the aim of storing confidential user information in-order to streamline their payment process wherein they won’t have to repeatedly input data every time during purchase. Basically it’s a digitized version of a physical wallet! By using the same, users can make payments through their phones, tabl...