Digitisation of Retail Banking Products
Digitisation of Retail Banking Products - Notes and MCQs Digitisation of Retail Banking Products The digitisation of retail banking involves the integration of modern technologies in banking services aimed at enhancing customer experience, operational efficiency, and cost optimization. Key Topics Covered Technology in Retail Banking Technology Processes in Retail Banking User-Friendly Digital Features Customer Analytics IDRBT INFINET SFMS NFS IBCC Wealth Management Solutions Digital Lending Mathematical Examples Digital Lending Interest Calculation: Loan Amount = ₹2,00,000 Interest Rate = 12% p.a. Tenure = 2 years Interest = ₹2,00,000 × 12% × 2 = ₹48,000 EMI Calculation using Formula: EMI = [P × R × (1+R) N ] / [(1+R) N – 1] P = ₹1,00,000, R = 10%/12 = 0.00833, N = 12 EMI ≈ ₹8791 C...