Verifying customers online during onboarding is a challenge for financial institutions, however eID verification supports secure digital onboarding.
Read full article: https://diro.io/eid-verification-process-and-client-onboarding-for-financial-institutions/
OVO - Company financial technology or fintech payment OVO product launches financing Micro, Small, and Medium enterprises or SMES named DanaTara.
Based on BPS data, the contribution of SMES in GDP has already reached 60% and absorb 97,22% of the workforce nationally.
However, the penetration of financing in SMES is still low.
The low penetration of financing influenced by the limited access to financial services and financial literacy are not evenly distributed.
(Read: Grab Will Browse the Insurance Market to Finance in Indonesia in 2020)
DanaTara already available for the activists of the SMES that are incorporated in the e-commerce platform such as Tokopedia, Lazada, Shopee and BukaLapak.
ACH payment verification is often a challenge for financial institutions.
By using bank account verification API, banks can secure payments.Read full article: https://dirobankverification.mystrikingly.com/
Term Deposit - a contract under which provides financial institutions an agreed amount of their funds for a certain time, and after the initial financial obligation of the organization employer to pay You this higher amount in the stipulated percent.
The fixed interest rate is safer (at the moment of making a Deposit you will be aware of her interest), but, as a rule, below.
Capitalization of interest (add the interest to the Deposit amount, so that in the following period of the agreement, interest may be accrued from greater amount).
For example: you create a Deposit of 6 per cent, in the amount of 2000 rubles for 1 year.
Here we must reckon with the fact that withdrawal before the deadline will result in the loss of part or all of the interest.
Risks associated with investing in deposits