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Updated on: Thursday, May 30, 2019, 10:17 AM IST

Demonetisation And Its Impact On Technology

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Cashless economy looked like a distant dream just this year round, but the demonitisation master stroke or demonic move changed all that. With digital payments taking centre stage, seamless user experience becomes crucial to make the dream of financial inclusion and cashless economy for India a reality. The whole experience around banking, financial services and insurance would change.Technologies, cloud-based services and analytics are coming into play and impacting sectors like insurance, financial services, mobile applications and enterprise applications to transform the nation, slowly but surely. Data analytics to understand and analise consumer behaviour may not make the line at ATMs disappear, but would make it minimum as digital would become a way of life, as people would see and benefit from the convenience of cashless payments.

“Digital India would be nothing short of a revolution with digital technology reaching everyone and being the real equalizer. The upside of demonetisation are exciting technologies and innovations, which have become the buzz words and the true drivers of today’s reality and economy. It is also fascinating to live this watershed moment in India’s history wherein the entire country will now ride a technology and innovation wave and usher in remarkable innovations in digital payments, on-demand access to services and last-mile connectivity” said Preethi Menon, Clover Infotech

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Published on: Saturday, December 31, 2016, 07:58 AM IST
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