BANKING 2.0|India and the Internet

Well for customers who are India bound, and are shopping for loans face an acute shortage of options. Most online banks claim to be award winning in terms of design. Unfortunately, most of them act as lead generators and nothing more. I have worked with one of them myself. Even third party loan comparers end up NOT making a commitment on the final loan and amount, because of 

1) lack of credit assurance in India due to established credit ratings for individuals.

CIBIL is considered too young (< 5 years) and is the only credit rating agency.

2) lack of exposure to latest tools available globally online. 

As the saying goes, Why risk being innovative , if you are already having respectable market share, and are meeting your annual banking bonus in India’s financial services sector – booming (till 2007) and now rapidly growing (despite the central bank’s rate raises).

Indian customers remain the most under leveraged in the world, have very low delienquency rates, have Continue reading “BANKING 2.0|India and the Internet”

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