Leading From The Front

Banks have always been at the forefront of the digitalisation revolution. Internet banking arrived in India as early as the 1990s and mobile banking became a reality in the early 2000s. The introduction of National Electronic Funds Transfer (NEFT), Real-Time Gross Settlement (RTGS), Immediate Payment Service (IMPS) and, more recently, the Unified Payment Interface (UPI) has continued to revolutionise the way we bank. Fintech apps and platforms have just added to the convenience of customers. The Covid pandemic gave the entire banking ecosystem, including fintech platforms, a fresh push as even people who were hitherto apprehensive about using digital platforms took to it due to social distancing and restrictions. “The pandemic has brought unprecedented changes in the way businesses operate. Fintech apps registered high growth, thanks to social distancing norms and lockdowns...