Perhaps that experience was one of the ingredients contributing to embolden the Irish banks to feel invulnerable to downturns. Perhaps one day we will fully understand just how fundamental decision-making in the banks (during the property bubble) ended up so insulated from adequate attention to basic risk-controls – and indeed in the end from common sense!
While the benefits accruing from digital financial services is not a point of debate, the business conduct issues, and governance standards adopted by such digital lenders have shaken the trust reposed in digital means of finance in India. We were and are inundated with the complaints of harsh recovery practices, breach of data privacy, increasing fraudulent transactions, cybercrime, excessive interest rates and harassment. 23.