Innovation, Umbrella apps to drive digital banking in new decade

Digital banking volumes in India are likely to grow on a higher trajectory in the third decade of the 21st century, if the strong momentum gathered in 2020 — during the pandemic — is anything to go by.

The 2020 experience brought forth the challenge of adequate infrastructure for online transactions and customer experience, even as bankers say high growth is imminent thanks to changing consumer behavior towards digital transactions.

The push towards innovation and additional investment made over the past year will help enhance capacities and make systems mature. Mapping growth trajectory of digital payments, a RedSeer Consulting report states they