Launch of new apps and portals to facilitate online banking experience

 


The banking and financial companies are striving to make their operations technology-driven. The launch of online banking facilities is one of the steps taken in that direction. Many fintech companies and banks are launching their apps and online portals to facilitate the banking experience for their customers. New fintech organizations are formed and new apps are launched to facilitate the experience of customers from specific regions. Moreover, new online portals are launched to facilitate trading activities with foreign entities. These steps are taken to close the existing gaps and offer improved experience to customers. According to the report published by Allied Market Research, the global online banking market is estimated to generate $31.81 billion by 2027. Following are some of the activities taking place worldwide.

Fintech companies are trying to close the existing gaps through the launch of innovative products. In addition, some of the entrepreneurs are launching new companies and apps to help people in availing ease in financial experience. Canadian entrepreneur Sam Mizrahi and ex-bunq COO Jon Fath launched a new fintech company called as Rauva. The company will launch a new app to offer country-specific online banking tools and financial management features for freelancers and small & medium-sized enterprises (SMEs) in Mediterranean region of Europe. The company will launch the app in Portugal and Spain in the initial stages. Then, it will expand to Italy, Greece, and France.

With multi-million investment already in place, innovative solutions that utilize artificial intelligence (AI) and machine learning will be developed. These solutions will help in various services including bookkeeping, budgeting, and cash flow management. Jon Fath, the new Chief Executive Officer of Rauva highlighted that new solutions will help people in focusing on the businesses and things they are passionate about. The stress related to daily financial management will be taken out through the app. Such online banking apps will add value to lives of business owners and freelancers in the Mediterranean region.

Along with launching new apps, fintech companies and banks are launching new online portals to facilitate various finance management activities. South Indian Bank a new portal named as ‘SIB TF Online’. The portal is focused on serving the corporate EXIM customers. It is aimed at facilitating the trade-related payments for foreign companies and organizations. Following the upload of relevant documents on the portal, customers will be able to make payments remotely to the foreign entities.

The banking officials highlighted that this portal is another effort toward facilitating the online banking experience for its customers. The portal will offer the internet banking facilities for retail and NRE SB customers to avail foreign remittances through their smartphones, desktop, tablets, and laptops. This eliminates the need to visit the branch for availing foreign remittances along with providing the ability to make the safe and secure transactions around the clock in a paperless manner. The launch of such online portals will speed up the banking services for businesses and individuals and save a lot of time and efforts.  

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