Category: Finance

Top 10 Keys to Understand What Regtech Is All About

Finance
Reading Time: 2 minutes

Businesses big and small would have to adhere to various types of regulatory conditions. with the complexity in understanding the terms and the possibility of leaving out certain regulations companies can take help from technology to ensure that the processes go smoothly. Regtech is this technology that helps businesses understand the regulatory compliances.

  1. Banks and financial institutions will start using this technology intensively. In fact, given the frequent regulatory amendments, they might find regtech to be hugely beneficial.
  2. There might come a time when all the banks start using regtech. It has been in the officially declared as part of the budget in a few places already.
  3. Data submission by everyone cannot happen within the desired time. Businesses can thus reap the advantages when selecting a good online identification company that can help them with regtech.
  4. Cutting down the costs of compliance and the penalties charged for missed regulations are reasons why several businesses take up regtech.
  5. With the growing demand for regtech billions of dollars of investment has been planned in this area.
  6. Regulatory awareness is also being handled by several regtech Their goal is to make people understand that the common identification procedures like AML or anti-money laundering measures and KYC or know your customer alone cannot help with regulatory compliance procedures.
  7. Regulators would not be left off the scene altogether. Combined work can result in better processes.
  8. There are multiple ways in which banks can redefine security in the processes with regtech. For example, this can be a great beginning to strongly prevent fraudulent transactions thanks to the better identification procedure.
  9. If businesses would have to speed up their financial transactions and the decisions that precede them then regtech can help shorten the process.
  10. Though a lot is being spoken about regtech there is an ample scope for growth. The technology surely would take some time to catch up on a larger scale.

How to Borrow Money Online in 2018

Finance
Reading Time: 2 minutes

Technology is showing us the way:

There was a time when people used to fret any activity that had to be done online. The trust factor was so absolutely missing. If the transaction involved money, people were more so paranoid. So, when did the actual change happen?

Thanks to the internet, people are now opening up to the benefits of it:

With eh internet boom happening and with the smartphones actually hijacking our own lives including our personal spaces, there can be little doubt now that people now consider even borrowing online!

No surprise there!

Borrowing online is as much as the same as borrowing physically form an institution. The choices a rate same and the convenience are far more. So, what would you choose if you were given a choice?

In a survey conducted by the finance department in the country, people look at both the mediums of borrowing at par. Only the older generation has some qualms at the beginning which are set alright once they borrow for a couple of times and then their confidence in the system is instilled.

What you can borrow:

The sky is the limit here. The limit is probably with the credit institution or the bank that is providing the loans to you but on a scale of one to ten, nine major credit institutions will give you the loan for the highest value in case you satisfy them with all the documents and reliable scores that they demand of you.

There are unsecured loans secured small personal loans and there are also short-term cash loans. The period of repayment and the equal monthly installments are all set by the institution after consideration of various factors including your favorable credit score.

Loans were such a hassle till a few years ago!

Only a decade ago, people would have to queue up in banks from early hours, get a token to see the manager and then do the tedious paperwork before they were granted loans. Today, you could identify the loan, apply and get it processed without even leaving your living room! Have you heard about Netti Vipit yet? Look it up and you will thank me for sure!

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