Banking, Financial Services and Insurance (BFSI) Trends

The introduction of cash handling devices and technology has transformed cash transaction management for businesses in general. The management of cash transactions is now more efficient, accurate , and secure. The continuous growth of technology is allowing businesses to choose from an array of cash handling solutions that best fit their needs.    Cash handling devices include coin sorters, bill validators, cash recyclers, and smart safes, among others. These tools are widely used for processing cash payments, managing cash flow, and reducing the administrative workload associated with cash handling. Introducing automation reduces dependence on manual labor, lowers the risk of fraud, and accelerates transaction times, which is particularly important in industries such as healthcare, where efficiency is important.    Growth in the adoption of technology and innovation in automated cash handling systems, including cash recyclers and smart safes, drives the cash handlin...

In the past few years, blockchain technology has become popular due to it s open networks that are maintained indefinitely without the aid of any company or central authority. Blockchain networks have helped a number of existing services to expand their offerings in a decentralized way without relying on central author ities or intermediaries. One of the key segments that has experienced rapid innovation due to blockchain is the financial services industry. The blockchain-based alternatives to traditional financial services are called decentralized finance or DeFi.    Some prominent features of DeFi   Unlike centralized institutions, in DeFi , a code acts as the only intermediary in the proc ess. The changes to that code are usually made democratically by community governance voting. Moreover, decentralized finance platforms are permissionless , offering greater access to users irrespective of borders. Individuals can easily create their own DeFi applicati...