Letters of credit are some of the important financial instruments in the banking world, especially in international and foreign trade dealings. It is a kind of promise from the bank that the payment by the buyer to the seller will…
Foreign outward remittance is the process of transferring funds from one country to another, usually for reasons that could pertain to business, education, family support, or investments. This practice keeps being vital for international trade and personal transactions, as it…
While digital platforms have been formed to facilitate the transfer of money and other assets, there has been a great rise in P2P scams, or peer-to-peer scams. Because more people are using P2P software for payments, file sharing, and various…
Efficient payment management is integral to business operations in the ever-evolving digital economy. In such a context, the role of payment orchestration comes into play specifically. You must wonder what is payment orchestration, and how different is it from…
Recurring billing is a model of payment whereby an organization charges for goods or services rendered to customers periodically, often month-to-month or year-over-year. Large enterprises that offer subscription-based services, such as online streaming services, SaaS providers, and gyms, all use…
EFT has become an integral part of modern financial management. From bill payments to sending money to family and friends, EFT provides a fast, safe, and efficient means of moving money electronically without physical cash or checks. Let's look…
Treasury management is concerned with economically providing the organization with adequate liquidity and cash flow to meet operational needs and taking care of risk mitigation on the other. Be it a small business or another giant multinational, having a proper…
In today's interdependent world, financial institutions and businesses rely extensively on smooth cross-border transactions. Correspondent banking lies at the heart of these international financial activities a system whereby banks in different countries can make and receive payments. This article aims…
Cross-border payments are key facilitators of cash movement between and amongst nations in the global economy. They take shapes and forms, whether over who transacts, the transaction's nature, or the systems involved. In this blog, we will look at…
The banking industry in India has undergone various metamorphoses for several centuries, rooted in socio-political upheaval, regulatory reforms, and technological changes. The metamorphosis of banking from brick-and-mortar banks to digital banks reflects the progress of the nation toward economic growth.…
