Looking for knowledge and key business information on the BFSI industry?
TechnoFunc brings to you BFSI industry overview, business model, value chain, competitive landscape, and latest trends. The Term BFSI is an acronym for Banking, Financial Services and Insurance and popular as an industry term for companies that provide a range of such products/services and is commonly used by IT/ITES/BPO companies and technical/professional services firms that manage data processing, application testing and software development activities in this domain. Banking may include core banking, retail, private, corporate, investment, cards and the like. Financial Services may include stock-broking, payment gateways, mutual funds etc. Insurance covers both life and non-life.
Learn the various dynamics and challenges in the domain knowledge for BFSI Industry. Quickly enhance your business acumen and talk like an expert and impress your stakeholders in your next meeting!
Banking has changed radically in the last 20 years, and it is now one of the most competitive businesses in the world. Like any business, a bank must attract customers in order to make money. There is an ever-wider array of services that are offered by the banking industry today. Technology has impacted the banking industry and changed the way it used to operate. With changing times, banks are also offering new innovative products to meet the dynamic evolving needs of its customers. Learn about various banking products and services.
In our day-to-day life, we use words like business, commerce, occupation, trade, industry, etc. quite often. These words have a definite meaning in the 'Business Organization'. After studying this article you should be able to identify the broad categories of human activities and describe what we mean by business and what are the features and objectives of the business. We will also classify the business activities and will explain the nature of the business organization. Read more to know what business is!
A stock exchange or securities market is a place where trading in securities takes place. Read this article to learn the meaning, features, and functions of stock exchanges and understand the importance of stock exchanges and methods of trading on stock exchanges. After taking this lesson, the learner will be able to explain the meaning and importance of stock exchange and state the economic functions of stock exchanges.
Finance is the science around the management of money. Finance encompasses banking, credit, investments, assets, and liabilities. The finance function encompasses a variety of functions, activities, and processes. Finance also consists of financial systems. Acquisition, allocation, utilization, and channelizing the funds to maximize the shareholder's wealth. Finance includes public, personal, and corporate finance.
Everyday people trade goods use services and need to make payments using cash as cash money is the major medium of exchange. Banks have developed various payment methods to facilitate the exchange of money that stimulates the growth of commerce, helps economic development and facilitates flexibility with lower transaction costs with security. Various payment systems exist today, ranging from cheque, wire transfer, cards to online transfer. In this article, we will discuss different types of payment methods that are available today with banking channels.
Banking today is an exciting, fast-moving, around-the-clock, global activity. Changes in regulation, changes in technology, and changes in the competition have pushed banking, to become dynamic organizations that must respond rapidly to changing business circumstances. The advent of private sector banks, the rapid pace of globalization, emerging disruptive technologies are changing the dynamics of the banking industry as well as the competitive landscape. Read about some recent trends in the banking industry.
Banks are commercial institutions and need to increase their business. Unlike other stores and shops, banks are selling services rather than products. Learn how banks get their funds and how they make money on services. Banks and other institutions play this critical role by performing services essential to the functioning of an economy. Safeguarding, transferring, lending, and exchanging money in various forms, along with evaluating credit-worthiness of customers, are the main functions that banks perform. Learn more about the role that banks play in shaping the economy.
Banks are commercial profitable institutions and need to increase their business, grow their revenue, and provide returns to their owners. Unlike other stores and shops, banks are providing services rather than selling their products. Learn how banks get their funds and how they make money on services. Read more to learn how the banks earn their profit!