- Cashless Transactions in India Set to Boom over the Next Few Years
The proportion of cashless transactions varies widely across the globe with some countries, like India, still considered a cash economy. Last year more than 70% of Point of Sale (POS) transactions in India were in cash and just 20% were credit or debit card transactions. Whereas cash transactions in South Korea were only 11% with credit and debit cards making up a staggering 85% of POS transactions. However, data suggests that cashless transactions in India are set to boom over the next few years.
- How IoT looks set to transform the future of banking
In the world of banking, IoT – the Internet of Things – is a nascent technology. Though BizTech reports that banks have not widely adopted IoT technologies, many financial firms clearlysee the germ of potential in IoT. Over 40% of them are experimenting with IoT and Big Data, says RedPixie
- Tiny Branches vs. Microscopic Profits: Calculating Profitability
Some branches are so small, they fall into the “why bother” category. Here’s how to correctly measure the ROI of the retail locations in your branch network.
- Are Your Bank’s Branches Too Small to Survive?
The future of bank branches is a topic sparking much debate among banking professionals. But most of the industry analysts tend to focus on changes in consumer behavior and the shift toward digital channels. There is, however, an even bigger challenge facing the industry: the sheer number of branches that are too small to be profitable. Many simply aren’t growing at a sufficient rate, and will never reach profitability.