MINI PROJECT REPORT

Submitted in partial fulfillment of Master of Business Administration

Session-2021-2022

“Emerging technologies in BFSI sector”

Faculty Guide Submitted By:

[Dr. Omika Bhalla ] [ Shivam Agnihotri ]

[Faculty-Master of Business Administration] [2101640700224]

PRANVEER SINGH INSTITUTE OF TECHNOLOGY

Affiliated to Dr. A.P.J. AKTU

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 DECLARATION

I hereby declare that this submission is my own work. It contains no material previously publishedor written

by another person, nor has this materials to a substantial extent been accepted for the award of any other

degree or diploma of the university or other institute of higher learning.

(Shivam Agnihotri)

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 ACKNOWLEDGEMENT

Mini Project Report is the one of the important part of MBA program, which has helped me to gain a lot of

experience, which will be beneficial in my succeeding career. For this with an ineffable sense of gratitude I take

this opportunity to express my deep sense of indebtedness and gratitude to Dr. S.K Bhalla, Director - Pranveer

Singh Institute of Technology and Dr. Harit Kumar, Head of Business Administration Department, for

their encouragement, support and guidance in carrying out the project.

I am very much thankful to, my Project Guide [Dr. Omika Bhalla], MBA Department for his/her interest,

constructive criticism, persistent encouragement and untiring guidancethroughout the development of the project.

It has been my great privilege to work under his inspiring guidance.

I am also thankful to my parents and my friends for their indelible co-operation for achieving the goals of this

study.

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 Table of content

Table of Contents
MINI PROJECT REPORT ................................................................................................................... 1
“Emerging technologies in BFSI sector”............................................................................................... 1
DECLARATION ................................................................................................................................................................ 2
ACKNOWLEDGEMENT .................................................................................................................................................. 4
EXECUTIVE SUMMARY................................................................................................................................................... 6
DESCRIPTION OF INDUSTRY ....................................................................................................................................... 7
TRENDS IN BFSI SECTOR ................................................................................................................. 8
Climbing to the next level with Ecosystem 2.0: ................................................................................................................. 8
Retaining and engaging talent : ........................................................................................................................................... 8
Omnichannel marketing approach : .................................................................................................................................... 8
Customer experience :......................................................................................................................................................... 9
Personalisation : .................................................................................................................................................................. 9
Threat of New Entrants : ................................................................................................................................................... 10
Power of Suppliers : .......................................................................................................................................................... 11
Power of Buyers:............................................................................................................................................................... 11
Availability of Substitutes:................................................................................................................................................ 12
Competitive Rivalry: ......................................................................................................................................................... 12
Political factors: A tool for the big guys ........................................................................................................................... 15
Economic factors: Easily influenced................................................................................................................................. 15
Sociocultural factors: Consumers want ease ..................................................................................................................... 15
Technological factors: Smartphones to the rescue ............................................................................................................ 16
Legal factors: Strict guidelines ......................................................................................................................................... 16
Environmental: Reduced footprint .................................................................................................................................... 16
Strengths ........................................................................................................................................................................... 19
Weaknesses ....................................................................................................................................................................... 20
Opportunities..................................................................................................................................................................... 20
Threats............................................................................................................................................................................... 21
Final Thoughts about the SWOT Analysis of the Banking Industry ................................................................................ 22

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 EXECUTIVE SUMMARY
BFSI stands for the Banking, Financial Services, and Insurance sector. Fundamentally, it represents a major

portion of the multi-billion-dollar Indian economy comprising all Banking, Insurance, and Non-Banking

Financial Institutions. The latter is known as the NBFCs. Also, the BFSI industry largely refers to financial

service firms such as Broking, and Asset Management. India, as a business destination, fosters all the

positives for the BFSI sector to flourish at an appreciable pace. Inter-dependent factors of government policy,

active public/private involvement, robust regulatory measures, and technological evolution have spurred the

BFSI sector to register strong numbers in recent years. Banking is one of the pillar components of the BFSI

industry. It would not be wrong to call it an industry in and of itself, comprising of the following structure .

Banking, financial services and insurance (BFSI) is the industry's umbrella term for companies that provide a

range of such financial products or services. This includes universal banks that provide a range of financial

services or companies that operate in one or more of these financial sectors. BFSI comprises commercial

banks, insurance companies, non-banking financial companies, cooperatives, pensions funds, mutual funds and

other smaller financial entities. The Banking part of BFSI may include core banking, retail, private, corporate,

investment and cards. Financial services may include stock-broking, payment gateways, mutual funds.

Insurance covers both life insurance and general insurance. This term is commonly used by information

technology (IT), information technology-enabled services (ITES), business process outsourcing (BPO)

companies and technical/professional services firms that manage data processing, application testing and

software development activities in this domain. The global BFSI Industry faced serious turmoil during the early

21st century, when a series of crises like the subprime mortgage crisis in the US, and the Great

Recession worldwide, that began in 2008, gave a huge setback, resulting in negative growth. A 2013 report said

that the industry was coming back on track.

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 DESCRIPTION OF INDUSTRY

Banking Industry- The modern banking industry is a network of financial institutions licensed by the state to

supply banking services. The principal services offered relate to storing, transferring, extending credit against,

or managing the risks associated with holding various forms of wealth. The precise bundle of financial services

offered at any given time has varied considerably across institutions, across time, and across jurisdictions,

evolving in step with changes in the regulation of the industry, the development of the economy, and advances

in information and communications technologies.

Finance Industry- The financial sector is a section of the economy made up of firms and institutions that

provide financial services to commercial and retail customers. This sector comprises a broad range of industries

including banks, investment companies, insurance companies, and real estate firms.

Service Industry- The service industry is very wide in its nature. It covers a large range of activities that add

value to businesses and individuals but the output is not a physical product, instead this industry enhances,

maintains, repairs, shapes and perform different alterations to physical items. It also covers activities such as

transportation, medical services, education, banking, insurance, waste disposal, telecommunications services

and other complex activities that are crucial to a society’s proper functioning.

Insurance Industry- The insurance sector is made up of companies that offer risk management in the form of

insurance contracts. The basic concept of insurance is that one party, the insurer, will guarantee payment for an

uncertain future event. Meanwhile, another party, the insured or the policyholder, pays a smaller premium to

the insurer in exchange for that protection on that uncertain future occurrence.

As an industry, insurance is regarded as a slow-growing, safe sector for investors. This perception is not as

strong as it was in the 1970s and 1980s, but it is still generally true when compared to other financial sectors.

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 TRENDS IN BFSI SECTOR

Climbing to the next level with Ecosystem 2.0:

This new ecosystem aims to strengthen its participants, i.e. extended enterprises, playing an essential role in

improving customer journey across various touch points. The ecosystem not only extends the distribution

network; it further creates value for business and generates improved customer experience. When the

workforce shifted to remote work, digitally-enabled interactions became more valuable than traditional

methods. Many organisations, including BFSI companies, started considering value -generation innovations

to grow business, expand their networks, reach, and generate better revenues.

Retaining and engaging talent :

BFSI companies need talent that can evolve and sustain even during a crisis. Hence, they need skills,

learning, and training to enhance productivity that helps achieve desired business goals. Marketing and

sales enablement are an integral part of a digital transformation strategy. It helps to successfully execute

the communications required to drive sales and engage customers across different channels. It will also

help add value to your workforce while keeping them motivated and more involved with the organisation.

Omnichannel marketing approach : Amid the expanding digital horizon, customers' buying

decisions are highly influenced online. Hence, the need for a well-integrated platform providing access to

multiple channels like website, social media, SMS, email etc., via a single platform has increased. The

omnichannel approach helps create a personalized engagement experience for customers with a higher

satisfaction rate. It also motivates sales channels who get the necessary tools and enablement to address

their customers’ needs and provide a seamless experience.

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 Customer experience : With rapid transformation, customers now prefer quick and

convenient customer experience. They want information that is available at their fingertips. Hence, both

offline and online experience is a priority for BFSI companies. Many public sector organizations in the

BFSI space developed their digital applications and digitized offline processes to create a better customer

experience while resolving queries faster and more efficiently. Opting for digital transformation to generate

a valuable customer experience can also help accelerate sales through relevant leads and customer

retention.

Personalization : Another essential part of the digital transformation trend is the prioritization of

customer engagement in the BFSI industry. Organizations prioritizing personalization as an essential

customer engagement strategy recognize it as a critical competitive advantage. Currently, personalization is

entering a new phase, where targeting and engaging customers are highly driven by their interests and

behavior online. It helps enhance customers lifetime value, improve operational efficien cies, and long-term

sustainability.

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 INDUSTRY ANALYSIS

COMPETITIVE FORCES MODEL (PORTER’S 5 FORCES MODEL)

Threat of New Entrants:

Despite the regulatory and capital requirements of starting a new bank, between 1977 and 2002 an average of

215 new banks opened each year according to the FDIC1. With so many new banks entering the market each

year the threat of new entrants should be extremely high. However, due to mergers and bank failures the

average number of total banks decreases by roughly 253 a year2. A core reason for this is, what is arguably, the

biggest barrier of entry for the banking industry, trust.

Because the industry deals with other people's money and financial information new banks find it difficult to

start up. Due to the nature of the industry people are more willing to place their trust in big name, well known,

major banks who they consider to be trustworthy. The banking industry has undergone a consolidation in which

major banks seek to serve all of a customers financial needs under their roof (this can clearly be seen in the
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business model of banks like Wells Fargo's). This consolidation furthers the role of trust as a

barrier to entry for new banks looking to compete with major banks, as consumer are more likely to allow one

bank to hold all their accounts and service their financial needs. Ultimately the barriers to entry are relatively

low for the banking industry. While it is nearly impossible for new banks to enter the industry offering the trust

and full range of services as a major bank, it is fairly easy to open up a smaller bank operating on the regional

level.

Power of Suppliers :

Capital is the primary resource on any bank and there are four major suppliers (various other suppliers [like

fees] contribute to a lesser degree) of capital in the industry.

1. Customer deposits. 2. mortgages and loans. 3. mortgage-backed securities. 4. loans from other financial

institutions. By utilizing these four major suppliers, the bank can be sure that they have the necessary resources

required to service their customers' borrowing needs while maintaining enough capital to meet withdrawal

expectations. The power of the suppliers is largely based on the market, their power is often considered to

fluctuate between medium to high.

Power of Buyers: The individual doesn't pose much of a threat to the banking industry, but onemajor

factor affecting the power of buyers is relatively high switching costs. If a person has one bank that services

their banking needs, mortgage, savings, checking, etc., it can be a huge hassle for that person to switch to

another bank. To try and convince customers to switch to their bank they will often times lower the price of

switching, though most people still prefer to stick with their current bank. The internet has greatly increased

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 the power of the consumer in the banking industry. The internet has greatly increased the

ease and reduced the cost for consumers to compare the prices of opening/holding accounts as well as the rates

offered at various banks. ING Direct introduced high yield savings accounts to catch the buyers' attention, then

they went a step further and made it very easy for customers to transfer their money from their current bank to

ING. ING was successful in their attempt because they managed to make switching costs very low in terms of

time and capital.

Availability of Substitutes:

Some of the banking industry's largest threats of substitution are not from rival banks but from non-financial

competitors. The industry does not suffer any real threat of substitutes as far as deposits or withdrawals,

however insurances, mutual funds, and fixed income securities are some of the many banking services that are

also offered by non-banking companies. There is also the threat of payment method substitutes and loans are

relatively high for the industry. For example, big name electronics, jewelers, car dealers, and more tend to offer

preferred financing on "big ticket" items. Often times these non-banking companies offer a lower interest rate

on payments then the consumer would otherwise get from a traditional bank loan.

Competitive Rivalry:

The banking industry is considered highly competitive. The financial services industry has been around for

hundreds of years, and just about everyone who needs banking services already has them. Because of this,

banks must attempt to lure clients away from competitor banks. They do this by offering lower financing,

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higher rates, investment services, and greater conveniences than their rivals. The banking

competition is often a race to determine which bank can offer both the best and fastest services, but has caused

banks to experience a lower ROA (Return on Assets). Given the nature of the industry it is more likely to see

further consolidation in the banking industry. Major banks tend to prefer to acquire or merge with other banks

than to spend money marketing and advertising.

FACTOR ANALYSIS (PESTLE ANALYSIS)

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 Political factors: A tool for the big guys

The banking sector looks all powerful — but it’s susceptible to a bigger giant: the government.

Government laws affect the state of the banking sector. The government can intervene in the matters of banking

whenever, leaving the industry susceptible to political influence. This includes corruption amongst political

parties, or specific legislative laws such as labor laws, trade restrictions, tariffs, and political stability.

Economic factors: Easily influenced

The banking industry and the economy are tied. How income flows, whether the economy is prospering or barely

surviving during times of recession, affects how much capital banks can access. Spending habits, and the reasons

behind them, affect when customers borrow or spend funds at banks. Additionally, when inflation skyrockets, the

bank experiences the backlash. Inflation affects currency and its value and causes instability. Foreign investors

think twice before providing their funds when a particular country’s currency value is high.Exchange rates also

affect banks globally — stable currencies such as the US dollar impact other currencies, spending habits, and

inflation rates in other countries.

Sociocultural factors: Consumers want ease

Cultural influences, such as buying behaviors and necessities, affect how people see and use banking options.

People turn to banks for advice and assistance for loans related to business, home, and academics. Consumers

seek knowledge from bank tellers regarding saving accounts, bank related credit cards, investments, and more.
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Consumers desire a seamless banking experience. And technology is developing to allow

consumers to buy products easier, without requiring assistance directly from banks.

Technological factors: Smartphones to the rescue

Once, it was expected to visit the local bank to make changes to financial accounts. But not anymore. Technology

is changing how consumers handle their funds. Many banks offer a mobile app to witness accounts, transfer funds,

and pay bills on smartphones.Smartphones can scan cheques, and the bank can process it from their end, at their

location. This change helps to save paper and the need to drive directly to the branch to handle these affairs. Debit

cards are also changing. Chips have been implemented, requiring users to insert their card into debit machines

rather than swiping them. Other countries, such as Canada, have implemented a “tap” option — tapping the debit

card onto the device, requiring no pin, for a transaction to complete. These changes make it easier on the user to

make purchases without required intrusion from banks.Even banks themselves are utilizing technology within the

workplace. Telecommunicating through virtual meetings is being embraced. It replaces the need for in-person

meetings.

Legal factors: Strict guidelines

The banking industry follows strict laws regarding privacy, consumer laws, and trade structures to confirm

frameworks within the industry. Such structures are required for customers in the allocated country and for

international users.

Environmental: Reduced footprint

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With the use of technology — particularly with mobile banking apps — the use for paper is

being reduced. Additionally, the need to drive directly to a branch to handle affairs is minimized as well.Many

issues are taken care of through mobile apps and online banking services. Consumers can apply for credit cards

online, buy cheques online, and have many of their banking questions answered online or by phone. Thus,

reducing individual environmental footprints.

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 SWOT ANALYSIS

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 Strengths

What strengths does the banking industry offer to consumers? One of the oldest industries. So long as humans

have been alive, there’s been forms of banking. Initially, it was a bartering and exchange system, but now it’s

much more than that. Banking teaches us the value of money, gives us access to loans to reach our dreams, and

provides a host of other services related to credit cards, savings, and bonds. A leader in economic growth. It’s

because of banking that we’ve seen such economic growth at home and worldwide. Supply and demand have

fostered this growth and also improved financial trade, financial stability, and financial security. It’s also one

factor behind increased employment and the reduction of worldwide poverty. Financial support after a

crisis.After experiencing a loss or natural calamity, the banking industry helps customers get back on their

feet. Insurance, investment, and loan options are to thank for this. Digital banking convenience. It’s now easier

than ever to do banking online. You can deposit your check, pay your bills, and apply for a credit card without

stepping foot into your bank’s branch. However, for more “in-depth” services, you’ll likely still need to make

an appointment with a financial advisor. Some things are better handled in-person than electronically. Banks

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have plenty of competition. That’s why many are making their customers’ lives easier by

offering specific services like free credit score checks. The focus is about improving regulatory compliance and

asset quality.

Weaknesses

The weaknesses of the banking industry include the following: Lack of worldwide coordination. Because the

banking industry handles finances, it’s a vulnerable industry. It also relies heavily on the coordination of the

economy, but this is a problem on a global scale. Europe holds more than 50% of the global market. Should it

face a recession, the rest of the world (and banks) could suffer by proxy. Fluctuating currencies and exchange

rates can also be trouble for banks. Old technology leads to vulnerabilities. Many banks still use outdated IT

infrastructure to host online services. For instance, some banking websites don’t use case sensitive passwords or

allow customers to put special characters in passwords. This makes passwords extremely weak and easy for

hackers to brute-force into your accounts. Considering it holds your life savings, most customers expect their

banks to follow updated policies, regulations, and infrastructure to keep their information protected. And yet,

it’s taking the banking industry too long to keep up with technological advancements. Because of that, many

banks suffer from digital vulnerabilities and potential security bugs. No access to rural areas. Rural regions

don’t have access to banking services. Part of this is because of conflicts between government objectives and

banking objectives. Another reason for the lack of access is because providing services to rural areas can be

more trouble than it’s worth financially.

Opportunities

The banking industries have many opportunities within the industry and for consumers: Move into rural

regions.As mentioned in the weaknesses section, the banking industry hasn’t approached rural areas yet. It’s an

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opportunity to get more customers, but achieving such a move isn’t a small feat. It may take

dozens of years before this approach is successful. Offer more or lose customers. Banks should keep up with

consumer demands and demographic changes. Having a banking app isn’t enough — consumers (especially

millennials) crave more options. Providing what people want will require heavy research from banks. It will

also require segmenting customers to create custom-service options. For instance, what students opening their

first account needs will differ greatly from homeowners or business owners. If banks fail to address the

demands and desires of customers, they’ll lose them. After all, there’s always another bank they can easily go

to.

Threats

Just like any other industry, the banking industry also has its fair share of threats: The biggest threat of all:

recessions. The biggest threat to any industry handling money is a recession. It’s the most critical threat that

can make or break a business. If small and big businesses fall, it’ll have a direct consequence on the banking

industry. Data breaches. With banks offering more online options, it also increases the risk for data breaches.

People give other websites like invoicing companies (like PayPal) access to their bank to receive and transfer

money. If these companies have a breach, it gives hackers access to personal bank accounts. Although there is

nothing banks can do for breaches on other websites they can make sure their own is heavily protected against

hackers. So much competition. Banks have a ton of competition; not just with other banks, but with other

alternative finance companies. This includes mutual fund companies and insurance companies. Millennials are

especially receptive to getting financial services from fintech companies rather than traditional banks.Unlike

banks, Fintech companies are proving to be more accommodating to millennials needs (for instance, offering

digital services, online banking, and building a relationship with the user). The banking industry needs to

change its approach if it wants to keep the younger generation as customers.

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 Final Thoughts about the SWOT Analysis of the Banking Industry

The banking industry is old, which proves its reliability. It’s there when we need to get back on our feet after a

natural (or man-made) disaster. It offers a variety of ways for us to gain credit, save more money, and easily

transfer funds when necessary. But it’s also slow to technological changes and fails to meet the needs of the

younger generation. The good news is that there are opportunities for where it fails. Banks can update their

infrastructure to remain secure; it can create new offerings to appease millennials. It can also reach more people

by spreading into rural areas. But the industry must first look at its weaknesses honestly before it can make any

headway.

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 EMERGING TECHNOLOGIES IN THE INDUSTRY

Introduction- A well-operating financial system drives a well-functioning economy. Technology is one of the

most powerful driving forces for the current economy and the modern financial systems. Banks have grown

from being a safe place for keeping valuables to a one-stop solution for all transactional operations. Today, the

(BFSI) Banking, Financial Services, and Insurance industry operate on smart devices, making online

transactions the new norm.. As we move more in-depth into the digital age, we can anticipate seeing

technology-driven, more ground breaking, innovative digital transformations in banking with strategic

solutions.

1. Artificial Intelligence- AI is now developing as a part of the business environment and is

reinventing the whole BFSI ecosystem by enhancing automation and dynamic systems. AI supports

decision-making, enhances customer service with virtual assistants and improves operational efficiency.

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 Also, advanced Machine Learning algorithms help to process data quickly, thus

helping in compliance management, profile credit risk and detecting fraud even before they happen. AI

and machine learning save time by personalizing client experience, crunching reams of data, and

increasing revenue growth. A recent study states that 10 to 25% of all the banking functions across all

banks will be performed by machines in the next few years. A big group of consumers assume that the

gap-fill in the financial market is by applying self-serving technology platforms that help customers

conduct all the banking operations remotely. A study by McKinsey states that the value of AI and ML

could be worth as much as USD 1 trillion annually.

2. Blockchain Technology- Blockchain, an emerging technology trend, is already creating

transformation ripples in the BFSI sector. According to the global bank Santander, Blockchain-based

systems will enable banks to save US$15-20 billion by 2022. Reserve Bank of India (RBI)

believes Blockchain technology holds enormous potential for disrupting the banking and financial

markets. Organizations across the globe are already establishing blockchain in a wide variety of banking

and investment applications, like solving challenges met by investment banks to assist customers in
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 making safer payment transactions. According to a report by MarketWatch, the

investment of blockchain in the (BFSI) banking and financial sector will reach $17.47 billion by the end

of 2025.

3. RPA: With Robotic Process Automation (RPA), the banking industry is demanding the use of

intelligent automation to drive efficiency, remove repetitions, and improve customer satisfaction by

providing fast and efficient services. Robotic Process Automation (RPA) mimics human actions to

extract more data and navigate digital systems, and this level of automation is invaluable to the BFSI

sector as it automates workflow, reduces errors and speeds up digital transformation. RPA has diverse

functions and can streamline customer service and operations, across various industries, from end to end.

A report by KPMG states that RPM could preserve financial associations as much as 75% in cost

savings.

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 4. Cybersecurity:

Cyber threats can emerge from anywhere, at any time; the most dangerous part about cyber risks is their ever-

changing and evolving nature. 69% of CEOs from various financial institutions reported in a Pwc survey that they

are highly concerned about cyber-threats. Also, 65% of the companies said that they adopted cloud-based security

measures in their organization as Cyber-risks demand a proactive approach as part of BFSI enterprises. They

need first to assess, evaluate, and understand the present security status of their organization and identify their

cyber-risk appetite. They should develop a cybersecurity roadmap that will help them to gauge the vulnerable

areas and seal those gaps early- This is why organizations should hire and train cyber-security teams to mitigate

the threat and vulnerabilities in advance effectively. In an IBM report, it is estimated that the cost of a data breach

in the financial sector was US$5.85 million in 2020.

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 5. BIG DATA ANALYTICS:

Big data in finance has led to meaningful technological innovations. Financial firms can deliver personalized

recommendations to customers, create more efficient processes to provide strengthened security, deliver better

customer service and drive competitive advantage. It helps them get revenue opportunities by

analyzing customers’ spending patterns, financial situations, credit information, and social media activities.

A recent study states that 71% of banking and financial firms utilize big data analytics to have a driven

advantage compared to their peers. Big Data improves trust equity by assuring cyber security measures and

managing voluminous and unstructured data. Predictive analytics enable institutions to deliver customers

personalized insights into their investments.

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 CONCLUSION

In this project, the growth of artificial intelligence in Banking, Finance, Service and Insurance sector has been

studied and the problems in the particular sector have discussed. The seven major aspects of Artificial

Intelligence are Deep learning, facial recognition, Automate simple and repetitive task, Data ingestion,

Quantum computing, chatbots. However it should be clear that artificial intelligence is still at an early stage but

in future technology and its standards will be improved and in great demand. This means for us to specialize

and be prepared for long run. BFSI Industry is one of the fastest changing and growing industry in the world.

Banks are adopting new technologies to increase their business. They have also contributed in general to the

world’s economic growth. But their own shortcomings, such as NPAs and a lack of adequate rural presence,

must be tackled. The good news is that by providing quality service and growing into untapped regions, they

will work towards turning these weakness into opportunities. This would allow them to counter the global

challenges of recessions and intense competition more effectively. Another factor that banks have to take care

of is ensuring that their digital infrastructure is up-to-date and running correctly. The banking industry will

therefore ensure that it continues its successful march. Banking is changing due to UPI payments and Payment

Wallets like PhonePe, Amazon Pay, PayTM, etc. This would allow them to counter the global challenges of

recessions and intense competition more effectively. Another factor that banks have to take care of is ensuring

that their digital infrastructure is up-to-date and running correctly. The banking industry will therefore ensure

that it continues its successful march. Banking is changing due to UPI payments and Payment Wallets like

Phonepe, Amazon Pay, Paytm, etc.

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 BIBLIOGRAPHY

1.digital innovative. (2022). emerging technology in bfsi sector. https://www.xcubelabs.com/blog/top-

technology-trends-transforming-the-bfsi-

industry/#:~:text=Blockchain%20Technology%3A,%2415%2D20%20billion%20by%202022.

2.google sites. (2019). porters 5 forces model.

https://sites.google.com/site/bankingindustryandtheinternet/home/5-forces.

3.marketing author. (2018). pestle analysis. https://www.marketingtutor.net/pestle-analysis-of-banking-

industry/.

4.your story. (2012). trends in bfsi sector. https://yourstory.com/2021/12/trends-shape-bfsi-sector-2022/amp.

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