PAYMENT SOLUTIONS
“ IT IS VERY GOOD FOR SMALL BUSINESSES AND INDIVIDUALS TO HAVE ACCESS TO READY CREDIT ”
SANKAR KRISHNAN EXECUTIVE VICE PRESIDENT , CAPGEMINI , INDUSTRY HEAD , BANKING & CAPITAL MARKETS
Expanding on her statement , she explains , “ In behavioural economics , people are often defined as being ‘ loss averse ’, meaning that they have a tendency to prefer avoiding losses rather than acquiring gains .
“ This concept of loss aversion explains why when you buy something and have to remove money from your account , a moment of mental pain arises . Marketers use this concept to entice young consumers by removing the pain associated with the buying process and giving people the false sense that they have bought something for ‘ free ’”
Loaned opportunities However , Helander ’ s dissenting voice is not echoed by the majority of fintech experts , who support the new online lending revolution and see it as a positive force . Many dismiss the idea that easier
74 June 2021