Banks Vs Fintech
A case for Startups and Businesses
Razorpay Merchants often ask for a unified platform that helps them make, control, track, and analyse all types of money movements. This is because traditional business banking requires endless hours of manual effort, owing to multiple complex and buggy software, lack of insight and flexible money movement views.
Find out what you can do to break free from traditional payouts and disbursals, and serve your customers in the best way possible!
What's inside
The potential
There are over a lakh bank branches in India today, and they thrive in a strapped market. Banks successfully earned customer loyalty and success. But in today’s times, customer experience plays a much more significant role than anything else. And, this is where fintech comes in.
The impact of fintech
Fintech firms have pretty much taken over the Indian banking and finance sector over the years, and this is backed by the ever-growing adoption of internet and smartphones. Online payments, money lending, and end-to-end cashflow management now can be done on a smartphone.
Fintech over traditional banking
With fintech comes enhanced and personalised user experience, among other advantages like better technology and functional efficiency. Making all aspects of finance more accessible to Indian consumers, fintech is much preferred over traditional banking services.
Operational efficiency of fintech
Fintech solutions are built in a way that they optimise the entire journey of a customer such that there is a shorter turnaround time in between two processes. These solutions are also made to be more relevant to the customers’ needs.
Fintech provides the most comprehensive solution
Businesses today, flourish in an intricate and diverse ecosystem. Thus, an organisation not only requires a robust framework to collect customer payments but also a system for this inflow. Comprehensive solutions for use cases like these are best provided using fintech.
Why fintech is a winning solution
With RazorpayX, every aspect of financial operations is simplified, accelerated, and supercharged. RazorpayX provides a unified platform that helps make, control, track, and analyse all forms of money movement from its powerful dashboard.
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