A price elasticity model enables the product team to set deposit rates with a sound understanding of the expected performance from the rate strategy

Bank Negara confirmed in July 2020 that banks and other financial institutions could deploy eKYC as part of the onboarding process.

Cosmos Bank recently had $13.5 million siphoned off by hackers linked to the Lazarus Group in North Korea. These attacks emphasize the need for layered fraud defences and controls that effectively mitigate such risks.

Until now, it has been very difficult for a lender to understand the pressures on any consumer in terms of their ability to absorb more credit and pay off the required instalments, without placing unbearable stress on their finances.

What should you expect to gain from deposit price elasticity models and what can you do with them to maximize benefit to the business?

Lenders are looking for new ways to connect with the estimated 3 billion people worldwide who fall outside the credit ma...