Abhinav Paliwal CEO at PayNet Systems
It could be 5 - 25% more expensive to acquire new customers than to retain existing ones. New customers have to go through your entire customer acquisition funnel before becoming a customer, which is expensive and time-consuming. On the other hand, customer retention is not only cost-effective but also profitable. According to Frederick Reichh
02 July 2021 /payments /retail Analytics in Banking
Neobanks are what Slack is for physical offices Keeping the idea of digitisation and financial inclusiveness at the core, the traditional banks have moved from brick and mortar to adapting the digital versions of their services. Neobanks take it a step further with a digital-only approach. Neobanks are a fully functional digital-only bank with ad...
30 June 2021 /retail /startups Open Banking
With digitisation taking over the world, people have moved to a digital-first approach. Hence, businesses have also evolved with changing customer needs. This transition has already happened in all industries, including retail banks. Retail banks have transitioned from brick and mortar and extended their presence digitally with multi-channel strate...
26 June 2021 /retail /wholesale Online Banking
Find out the trends that will mould digital banking and how they will impact its future—the rise of FinTech and their association with FinTech. Until 2020, digital banking for banks was confined to having a web and mobile app, but the word now has a different meaning altogether. Last year has made banks realise the gaps in their digital banking jo...
23 June 2021 /retail /startups Open Banking
According to Finaria.it, the global digital payments industry is expected to hit $6.6 trillion in value in 2021. The sector was valued at $5.4trn value in 2020. Before COVID 19, the industry was growing at a 16% YOY increase, but once the pandemic hit, the pace expedited to over 22%. In the next four years, the digital payments market is set to re...
22 June 2021 /payments Payments strategies 2015-2020-2030
Digital banking has done a great job making banking and financial services accessible to users at their fingertips. However, the shift from offline to online has led to a void of personalisation in their experience. According to Accenture, 50% of people want to switch between human and digital channels. Though users can almost do everything nat
12 June 2021 /retail /startups Millennial Banking
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