In Europe, Spain is a bellwether in the fintech domain. According to several studies, the country has seen a five-fold increase in the number of fintech firms, the main contributing factor being the entrepreneurial spirit of the people in creating a digital ecosystem in the country and in helping SMEs to flourish. One unique feature of the fintechs in the country is that they do not directly compete with the financial services firms, but rather supplement and complement their activities.
In the fintech space, Spain has a unique digital bank, Bnext. Launched in 2018 in Madrid, it is in fact a financial marketplace that has 350,000 active users who do more than 100 million euro worth of transactions in a month. Using a bank account, the customers can avail the financial products and services best suited to each of their needs.
CATERING TO NEXTGEN
Bnext’s success can be attributed to its understanding of the digital transformation that was happening, especially in the banking sector, and its response to the mindset of the younger generation, which was finding traditional banking a laggard and a burden.
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Swedbank leverages data to the hilt
Sweden's Swedbank takes innovation to a different level by collaborating with other competing banks:
Digitization is for customer satisfaction, says Argenta Bank
Belgium's Argenta Bank has designed its digitization efforts to enhance customer experience:
Speed, Safety, Compliance
Brijesh Samantaray, Co-founder, Propelld shares the current trends in the education loans how the company is leveraging technology:
Unique methods in fraud perpetration
When we look at some of the very serious frauds that had taken place in the financial realm, it is evident that the perpetrators are somewhat ingenious:
NBFCs: Elevating Organizational IQ
What is more important than hiring smart people is raising organizational IQ. This topic was discussed in depth in a panel discussion at NBFC's Tomorrow conclave organized by Banking Frontiers. Edited excerpts:
Trustful Transformation
Transformation is no longer only about growth & efficiency. It involves aspects like compliance, security and explainability that are impacting NBFCs. These issues are explored in this panel at NBFC's Tomorrow:
CEO Panel: Connecting Traditional Wisdom with Modern Intelligence
Banking Frontiers organized its annual NBFC Conclave titled NBFC's Tomorrow in August 2024 at Mumbai. Highlights of the first panel discussion:
NBFCs EXPERIENTIAL EVOLUTION, TRUSTWORTHY TRANSFORMATION
Banking Frontiers organized NBFC's Tomorrow, its annual NBFC Conclave, in Mumbai on August 21. The program comprised panel discussions on 5 upcoming opportunities for the NBFC sector, along with presentations, fireside chats and a keynote address. Edited excerpts from the conclave:
Smart ATMs - an indication of a resurgence
Smart ATMs can be the future way of how one may be interacting with a bank and doing transactions:
Personalization scores with HNWI & YP
Ghulam Haidar Rasooli, Chief Financial Officer at Afghanistan based Ghazanfar Bank, reveals the impact of personalization and future roadmap: