Displaying items by tag: Amala Core banking

The year 2020 has taught a lot to the financial sector and financial institutions. One of the biggest and the major lesson that the financial institutions has learnt in the year 2020 is the importance of the Digital platforms in execution of their activities. Due to the outbreak of the Covid-19 pandemic many of the activities that involves physical meetings were banned as part of precaution against the spread of the pandemic Covid-19.

Financial inclusion is where individuals and businesses have access to useful and affordable financial products and services that meet their needs that are delivered responsibly and sustainably. Financial inclusion is defined as the availability and equality of opportunities to access financial services.

The global financial institutions operations have changed lately to accommodate the best global economy, one that is more efficient and manages the risks that may tend to occur due to humanly errors. This is also affected by the invasion of technology and digitalizing monetary activities lately.

Days are moving, people and their economic needs changes hence the economic demands must change too, to suffice the contemporary days that are overtaken and are being occupied by the technological innovations of which affects almost every sector and area.