Human beings have a very typical habit….they will focus on things within their ‘Goldilocks Zone’. The term was first used to describe the part of space surrounding the Sun, where water remains a liquid and can sustain life. Taking a clue, I describe Goldilocks Zone for people as the space around them where they can do their work comfortably. While most find comfort in their individual Goldilocks Zone, some of the bold ones go beyond. Columbus sought a sea route to India and discovered America. NASA landed a man in flesh and blood on the moon. Hubble and James Webb satellites help astronomers ..read more

In line with increasing regulatory scrutiny in India to combat money laundering and terrorist financing activities, the premier authority that regulates the Indian Insurance industry, IRDAI – Insurance Regulatory and Development Authority of India, has published their latest master guidelines applicable for all Life, General, and Health Insurance firms from Nov 1, 2022. The guidelines seek to implement the provisions contained within the Prevention of Money Laundering Act, 2002 (PMLA/PML Act/Act and the Prevention of Money – Laundering (Maintenance of records) Rules, 2005 (PML Rules/Rules) i ..read more

The Banking Frontiers publication group is pleased to announce that Shri Suresh Prabhakar Prabhu, Chairman of the committee to draft the National Cooperation Policy, will be the Chief Guest for the 16th National Cooperative Banking Summit (NCBS) & Frontiers in Cooperative Banking Awards (FCBA) 2022, which will be held in Indore on 15-16 October, 2022. The national-level committee, chaired by Suresh Prabhu and constituted by Union Home and Cooperation Minister Amit Shah, consists of 47 members from across the country. Suresh Prabhu, an entrepreneur ..read more

ADM Capital Climate, Allinfra, and Ultimate Carbon have launched Asia Carbon and Environmental Products (ACEP) Warehouse and Think Tank. The ACEP Warehouse and Think Tank will focus on the creation of a portfolio of high-quality and high-integrity environmental financial products such as carbon credits or renewable energy certificate that are digitally enhanced and originated in Asia. To do so, ACEP will leverage the project development, technology, carbon and investment management capabilities of the partners and will be seeded with a $10 million warehouse facility as a proof-of-concept. Th ..read more

A recent study highlights that investment companies are limited by their current data management capabilities: A recent study titled ‘Data Management Challenges in The Investment and Asset Management Sector: How Investment Firms Can Improve TCO and ROI with Managed Data Service Partnerships’ suggests that investment firms must address some common challenges related to data governance and architecture and they are found to be still limited by their current data management capabilities. The report, prepared by Worldwide Business Research (WBR) Insights and Rimes, a firm that provides transforma ..read more

“Building resilient business models amid volatility and change,” will be the theme of Singapore FinTech Festival (SFF) to be held from October  31 – November 4, 2022. Organised by the Monetary Authority of Singapore (MAS)  and Elevandi, in collaboration with Constellar and The Association of  Banks in Singapore, this year’s SFF will return as an in-person event for the first time since  2019 in a grand reunion of the global FinTech community. Government leaders, regulators, financial services leaders, entrepreneurs, investors, and technology leaders will take stock of the ..read more

India is among the fastest growing fintech markets in the world with a market size of $31 billion in 2021 that is expected to reach $1 trillion by 2030, said Dr V Anantha Nageswaran, Chief Economic Advisor of India, Ministry of Finance, Government of India, speaking at the Global Fintech Fest 2022 (GFF 2022) in Mumbai. “A major shift towards a more equitable distribution of investment across sectors including InsurTechs, WealthTechs, etc, has started taking place. We are talking about bridging the digital divide and the economic divide. T ..read more

A report titled ‘India Digital Payments Report’ prepared by Worldline India, which provides secured transaction payment services for banks, highlights that UPI has become a trendsetter in the payments domain: UPI, or Unified Payment Interface, transactions recorded about 99% increase in volume and over 90% increase in value in Q1 2022, compared to the corresponding quarter in 2011, finds the ‘India Digital Payments Report’ by Wordline. In Q1 2022, UPI clocked over 14.55 billion transactions in volume and Rs26.19 trillion in terms of value, says the report, adding the top remitter banks were ..read more

State Bank of India has unveiled its next-generation contact centre service, which will provide a more personalised and better client experience. The revamped contact centre will set a new industry standard by offering 30+ banking solutions in 12 languages, available 24×7 from the comfort of home. To further simplify the process, the bank has introduced easy-to-remember 4-digit toll-free numbers (1800-1234 or 1800-2100). The customers can avail of an array of services related to accounts, ATM cards and cheque book, emergency services (ATM card or digital channel blocking), access to digital pr ..read more

Citi Treasury and Trade Solutions has planned to launch 24/7 Clearing as a service to its financial institution clients, beginning with 24/7 USD Clearing in Q4 2022. This new service is designed to enable Citi’s clients to make USD payments across Citi’s 1,500 financial institution customers globally 24 hours a day, 7 days a week, including holidays, with plans to expand to other client segments without the need for new technology or proprietary channels. The service will help in markets operating outside of the US working days (e.g.,Middle East), meeting collateral requirements on weekends ..read more