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Flipkart has announced partnerships with several banking, insurance and financial service entities, ahead of The Big Billion Days, to make shopping on the platform more affordable than before.

Through these partnerships, the company is offering affordable credit options through seventeen leading banks, NBFCs (non-banking financial companies) and fintech players on the platform, which will drive credit accessibility for over 70 million customers.

Flipkart has partnered with State Bank of India (SBI) and SBI Card to provide a 10 per cent discount to their debit and credit cards holders.

“At Flipkart, customer-centricity is at the heart of all our endeavors, as we create increased shared value for all our stakeholders and partners in

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LONDON–(BUSINESS WIRE)–The global third-party banking software market is expected to grow at a CAGR of over 8% during 2020-2024, according to the latest market research report by Technavio. The report provides a detailed analysis on the impact and new opportunities created by the COVID-19 pandemic. The report also helps clients keep up with new product launches in direct & indirect COVID-19 related markets.

Learn more about how COVID-19 is impacting the third-party banking software market – Request a free sample report

Many organizations are expanding their business in new geographies and acquiring new customers. The growth in the customer base has increased the number of online transactions, which has increased the demand for digital payment solutions. In addition, the rising number of customers seeking help with financial decisions and investments is contributing to the growth of the global third-party banking software market.

Third-Party Banking Software Market: COVID-19 Impact

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NEC has agreed to acquire Avaloq in order to secure a global pathway into the digital payments market. 

Announced on October 5, the deal will bring Avaloq under the Japanese IT group’s umbrella, although Avaloq will continue to operate using its own brand. 

Under the terms of the agreement, NEC will pay CHF 2.05 billion, or approximately $2.23 billion, for 100% of Avaloq shares. At present, 45% is owned by global private equity firm Warburg Pincus, whereas the rest are held by the firms’ founders and employees. 

Founded in 1985, Avaloq is an IT solutions company now specializing in banking, wealth management, and the digital payments space. The firm has developed business process as a service (BPaaS) and software as a service (SaaS) cloud solutions for banks and financial organizations. 

See also: Infosys acquires GuideVision in European services push

Headquartered in Switzerland, Avaloq is listed on the Tokyo stock exchange

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  • This is a preview of Business Insider Intelligence’s inaugural annual UK Neobank Competitive Edge Study, available exclusively to Enterprise subscribers.
  • In addition to mobile banking coverage, Insider Intelligence publishes thousands of research reports, charts, and forecasts on the banking industry. You can learn more about becoming a client here.

Monzo offers the most sought-after mobile banking tools among the UK’s largest neobanks in 2020, according to Business Insider Intelligence’s inaugural UK Neobank Competitive Edge Study. 

The UK is home to some of the world’s largest and most advanced digital-only challenger banks, led in user count by Starling Bank, Monese, Revolut, and Monzo.

In the past few years, these banks have grown to over a million users each, putting them in competition with the nation’s largest banks and building societies. One of the key factors behind neobanks’ rapid growth is their advanced mobile feature sets. 

Business Insider Intelligence’s 2020 UK Neobank

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JOHANNESBURG/ABIDJAN (Reuters) – When COVID-19 hit Ivory Coast, Bonaventure Kra, who works at an import-export business, began to worry. Handling hard cash all day was a risk. Queuing in crowded bank branches exposed him to infection.

A woman prepares to perform a financial transaction on her mobile phone at a bank of the French mobile operator Orange in Abidjan, Ivory Coast, September 18, 2020. REUTERS/Macline Hien

Then, in the midst of the pandemic, French telecommunications giant Orange ORAN.PA launched an entirely digital bank – its first full banking venture in Africa.

“Going back to cash would be like travelling back in time,” Kra said in the country’s commercial capital, Abidjan. “I intend to use it permanently.”

Africa’s mobile phone operators are ramping up plans to bring banking to millions of Africans, in some cases for the first time, after the coronavirus crisis caused a surge in use of digital financial

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Answers to Your Mobile Banking Questions

September 28, 2020 | technology | No Comments

By Chanelle Bessette

As the Covid-19 pandemic leads banking customers to lean into online technology to manage their money, those trying online banking for the first time may find themselves with questions about how to handle things previously done in person or with paper documents.

If you’re stuck on how to handle some of the practical aspects of online banking, here are answers to common questions.

Should I save monthly statements?

Experian  (EXPGY) , one of the three major credit bureaus, recommends keeping bank statements for tax purposes to confirm your income or deductible expenses. If you do end up using your statements for your taxes, you may want to hang onto your statements for up to seven years in case the IRS decides to audit you. Even if your bank keeps digital records of your statements, you may want to print or download your statements just in

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HUNDREDS of Barclays customers have been locked out of online banking this morning after a glitch on the website.

The bank confirmed the problems after more than a dozen Twitter users reported concerns from around 9.50am.

Barclays online banking is down for hundreds of customers

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Barclays online banking is down for hundreds of customers

Data from Down Detector – which tracks outages on major services – indicates that issues started around 9.44am.

At the time of publishing, close to 600 customers were experiencing the outage across cities including London, Cardiff and Birmingham.

Barclays said: “A small number of our customers are having problems logging in to their online banking and making payments on online banking and in the Barclays app.

“We apologise for this and are working to fix it as soon as possible.”

Down Detector reported issues with the bank from around 9:40am today

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Down Detector reported issues with the bank from around 9:40am today

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Annoyed customers took to Twitter after they were unable to access their banks online

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Annoyed customers took to Twitter after they were
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Internet Banking and Fraud

May 4, 2020 | internet | No Comments

Internet banking is arguably the fastest method of paying all kind of bills. With many people having time constraint today, they prefer to use electronic banking. Even, developing countries are now growing into the world of online banking. But fraud is posing a constant threat to its growth.

As internet banking keeps growing, fraud is also growing. The danger of fraud keeps causing major set back for both the providers and consumers of online banking. Now the question that rings are, can internet banking be separated from fraud? Can internet bankers stop fraud? What are the measures that can stop internet banking fraud?

1. Can Internet Banking Be Separated From Fraud?-The hard truth is that fraud and internet banking will always have a relationship. Fraudsters find it easy to communicate on the internet and it is so hard to trace them. With internet banking being the fastest way of cashing … Read More

Internet Banking

May 2, 2020 | internet | No Comments

Internet banking refers to banking operations carried out between banks and their clients through Internet. It is also commonly known as online banking. Internet banking helps in expediting banking operations, reducing the cost and ensuring that you can utilize various banking services in your living room or even while traveling thousands of miles away from your home.

The process of Internet banking begins with every customer being given a unique user name and password by a particular bank. The customer can log on to the bank’s Web site and use this user name and password to access his or her bank account. Then he or she can give instructions online to the bank regarding any particular transaction.

All major banks provide the option of Internet banking to their customers. The banks keep a record of all online transactions. Though Internet banking is fast becoming the most popular mode of banking, … Read More

Guarantees against online fraud are what most consumers look for in internet banking services. As money is a major consideration here, they just want the best protection for their savings and investments. Regardless of whether they’re banking in a brick and mortar institution that has gone online or an online-only bank, consumers demand security.

Banks are working hard to convince customers to try internet banking. Security features of internet banking services are now more advanced giving customers every reason to bank through the internet for added convenience and a lot more benefits. With the ever improving internet technology, anybody today can perform all sorts of financial transactions online in the comforts of their home or office. Apart from the security and convenience, internet banking is also cost effective with less or sometimes no fees at all.

Research experts say that while some consumers see no benefit in eliminating paper when … Read More