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Understanding Financial Technology And Its Impact On Our Lives

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Gone are the days of waiting in long lines at the bank. With a few taps on your smartphone, you can check your account balance, transfer funds to a friend, or even invest in stocks. This is the magic of financial technology , or Fintech, a rapidly growing field that's transforming the way we manage our money. Fintech is more than just a fancy term. It's a wave of innovation that's making financial services more accessible, convenient, and personalized than ever before. In this blog, we will explore the ins and outs of the fintech industry , exploring its impact on our everyday lives and how it's shaping the future of finance. Read on. What is Fintech? The Financial Tech Revolution Fintech, short for financial technology , refers to innovative solutions that use technology to improve and automate financial services. In simple terms, it's about using smartphones, computers, and the internet to make banking, investing, and managing money easier and more accessibl...

Ram Mandir Inauguration- Time, Date, Specification, Schedule on 22 January

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 As we all know 22 January 2024, one of the important day for entire nation in the Inauguration of Ram Mandir in Ayodhya. This temple has been completed in the span of approx 3 years and everyone is curiously waiting for its inauguration. Dozens of VVIP guest, which primarily include our Prime Minister Narender Modi and other ministers as well will be attending the event of Ram Lalla consecration ceremony. High security will Special Task Force (STF) of Uttar Pradesh will be altered to make sure the comprehensive security among people.  People from all over are excited to be a part of this day and if you want to attend this day directly from the place (Ayodhya), then you need to know certain things before: The schedule which will begin from 16 January 2024 to ending at 22 January 2024 is been given below: Atonement ceremony and Dashvidh bath on January 16. A 'Mahapujan' will be conducted, with Vedic Scholars led by Pandit Laxmikant overseeing rituals such as S...

Future Of Banking And Digital Payments In 2024

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There is no denying the fact that the banking industry has undergone a significant evolution over the last decade. Thanks to shifting consumer expectations and technological advancements, the focus today is more on leveraging the best payment processor for exploring the best of banking and digital payments. Past & Present Of Banking and Digital Payments In 2022, the global core banking software market was estimated to be worth approximately US$12.51 billion. Furthermore, the total transaction value in the segment of digital payments market is expected to cross US$9.46 trillion in 2023 and US$12.78 trillion by 2027. Since COVID-19, there has been a massive spur in terms of financial inclusion. This unprecedented growth helped in building resilience at multiple touchpoints, narrowing the account ownership gaps, and creating new (or previously hidden/unexplored) economic and growth opportunities. For instance, worldwide account ownership has now reached 71 percent of people li...

RBI Rolls Out Credit Lines On UPI: An In-Depth Detail

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The digital payments boom of India is no less than a celebrated story for its massive impact on rapid organic adoption and financial inclusion. But not long back, a significant majority of Indians were even devoid of a bank account to send and receive payments, and save money. The less educated, the poor, women, the out-of-labour force, the economically disadvantaged, and people living in rural areas and areas that were hard to reach constituted a big population of those without a bank account then. To start with, India was a bit late to the world of digital payments (such as the concepts of neo banking, mobile wallets, and payment gateway). Digital wallets were introduced by PayPal in 1998 in the United States. It took India more than a decade when Unified Payment Interface (UPI) was launched on August 25, 2016, to facilitate secure and real-time money transfer for its citizens (person-to-person and person-to-merchant transactions). A few years later, UPI has emerged as the biggest...

Importance Of Data Security In Payment Integration

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Contrary to popular belief, cyberthreats not only large-scale institutions and governments but also small, medium, and large businesses. The worst part is that the primary victim of a majority of cyberattacks is personal financial data. Therefore, it does make sense for the best credit card payment companies to focus on the importance of data security in payment integration while handling critical customer data. What is Data Security and why is it important? Data Security can be described as the continuous process of safeguarding digital information from theft, corruption, or unauthorized access throughout its lifecycle. From the viewpoint of the credit card companies, the concept of data security encompasses every single aspect and layer of information security from the physical security of storage and hardware devices to access and administrative controls, as well as organizational procedures, processes, and policies along with software applications. When properly formulate...

The Rise And Future Of AWS Cloud In Fintech Industry

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In today's business landscape, tech-savvy banking and financial institutions are realizing the need for agility in seamless cloud technology to capture the lion's share in their market segment. This is where Amazon Web Services (AWS) Cloud integration is guiding them to continuously provide innovative products and/or services and establish seamless client interactions. Businesses that embrace AWS Cloud gain from increased scalability, security, efficiency, productivity, and reliability while gaining access to a much larger and state-of-the-art infrastructure. Let us have a close look at some interesting statistics. Ø   The world's most broadly adopted and comprehensive cloud, AWS has more than 1 million active users in 190 countries covering seventy-seven Availability Zones (AZs) in 24 geographic regions globally and holds 41.5 percent of the cloud computing market. With a 45 percent market share, AWS ferociously dominates the global Infrastructure-as-a-Service (IaaS) spa...