TECHNOLOGIES IN BANKING

PRESENTED BY SURAJ RANGOLEDEBARTHA MANDALNISHIGANDHA JADEOMKAR DESHMANEANURADHA SHINDESNEHAL KULKARNI

Introduction Technologies in Banking Sector is emerging day to day. The concepts of retail banking is changing

miraculously; Its becoming more of a doorstep basis, tech savvy; every thing is becoming more at a fingertip. Human labour is getting reduced by the use of technology. The job of banking and the service to its customers is becoming very smart and less time consuming… Today, in this emerging Indian Economy, everyone is so busy with his works that they don’t have time

to visit the bank branch everyday regular basis. And then the importance of implementation of technology in BFSI sector and the advancement in the

banking products become in the picture!!...

List of Products

GREEN BANKING

SBI IN TOUCH

MasterPass: The first global wallet

Smart Vault’, a fully automated locker

DIGIBANK: AI-powered, mobile-only bank Contactless credit card with Jet Airways for SMEs

Aadhaar & Fingerprint Based ATM

Chillr: a new app

Ping Pay.

India’s first Contactless mobile payment solution.

Biometrics fingerprint scanner.

GREEN BANKING- A whole new concept

Green banking is:1. Way of energy conservation and environment protection. 2. Is the protection of the natural resources and the environment. 3. Avoids paper work 4. Focuses on electronic transactions i.e ATM,M-banking, online banking 5. Aids towards sustainability 6. Provides convenience to the customers as well as to the banks.

Benefits of green banking: 1) Reduces the Transaction Cost of the Bank 2) Competitive Edge 3) Better Risk Management 4) Reduces the Credit Risk 5) Cost Conscious Process 6) Convenient Process

SBI IN TOUCH

Benefits: 1) No need to swipe or dip the card 2) Fraud Coverage 3) Fast, hassle-free and secured payment

How to use In Touch card to make payment

Charges: No issuance charges for the first year Next year onwards a fee of Rs.150 charged every year Annual maintenance charge

Transaction Limit: Rs.2, 000 per tap.

DigiBank: an AI-powered, mobile-only bank DBS has launched an AI-powered, mobile-only bank in India- DIGIBANK completely paperless Signature-less and branchless bank. Customer authentication is done using the Aadhaar card, a biometrics-enabled ID Customer service will be provided by a 24×7 AI-driven Virtual Assistant. helps customers do their budgeting, track expenses and analyse purchasing trends. avoid providing even stronger security for transaction authorisation.Benefits and Advantages: This ensures no longer need of OTP after registering it with mobile or computer. As it uses artificial intelligence, transaction in this new system is very smart and secure and it can

track your expenses automatically. It comes with a virtual debit card which contains digital e-wallet, helps in making transactions

without any transaction limit in any POS and online transactions. They use 2FA authentication: a combo of your password and a unique OTP which is auto-

generated in real time and which is constantly monitored by the bank.

‘Smart Vault’, a fully automated locker Introduced by ICICI Bank. a fully automated state-of-the-art locker available 24x7,including weekends and post banking hours. Customers can access the lockers in total privacy without any intervention of the branch staff. Equipped with multi-layered state-of-art security systems including biometric authentication, debit card &

PIN authentication. Unique dimple keys that are difficult to replicate. The option of using additional personal lock as well.Benefits and Advantages: 1) It is very safe to operate for any customer.2) Customer can access the locker simply by using debit card and biometric authentication.3) It is not involving any human being for security purpose; it uses a robotic arm to identify, retrieve and present the locker room to the customer.4)It enables the customer to access the locker at a convenient height which eliminates the need to climb a ladder or bend down.

MasterPass: The first global wallet in India Launched by the CITIBank and Mastercard jointly. Made for CITIBank debit and credit card customers By selecting “Buy with MasterPass” as the payment option at checkout, customers eliminate the need to

fill in details repeatedly across online merchants. significantly reduces the checkout time across thousands of e-commerce merchants. offering customers, which include e-commerce merchants, governments and businesses, a new-age

payment option that that is both convenient and secure.Benefits and Advantages: Customer can get access to all CITI MasterPass-connected digital wallets in the world. Makes convenient to make purchases online in a safe manner Both in national and international level. It reduces the need to fill in details repeatedly across online merchants reduces the risk of customers abandoning their shopping carts due to cumbersome payment process or

exposing their personal information over unsafe networks.

Contactless credit card with Jet Airways for SMBs. Introduced by ICICI Bank. First contactless business credit card For small and mid-sized enterprises (SMEs) and their employees helps customers to save on their business expenses. make payments by simply tapping the card at contactless enabled terminals in more than 48 countries

including India. The card can also be used by dipping or swiping at non-contactless merchants.Benefits: Its Visa IntelliLink for Small Business (VISB): a unique expense management tool gives entrepreneurs a

control over their spends. It will provide SMBs (small and medium scale business) with solution that will help them to scale up their

business. It will be beneficial for the Jet Airways frequent fliers; it will provide JPMiles (a bonus) to the customers

for all their business travel and entertainment expenses. Additional JPMiles on international spends and on tickets bought from Jet Airways using the card.

Aadhaar & Fingerprint Based ATM : No Need for Card or PIN. Launched by DCB Bank India’s first Aadhaar based ‘Card less & PIN less’ ATM ATM accepts Aadhaar number and Aadhaar fingerprint (biometric) instead of ATM/Debit Card and PIN to dispense cash from the bank account. a customer needs to do is to input their 12 digit Aadhaar number and place their finger tip on the biometric reader.Benefits and Advantages: Customers can choose if they so desire to dip their ATM/Debit Card in the slot (instead of inputting the 12 digit number) simply place their finger tip on the biometric reader. It replaces the need to remember your ATM PIN. Increasing the importance of using Aadhar Card.

Chillr: a new app Introduced by HDFC Bank lets you send money immediately to anyone in your phone book Benefits: Send money to anyone in your contact list by using only your contact's mobile number. No more adding beneficiaries and asking for their bank details. Recharge your mobile, DTH and data cards. Transfer money between your bank accounts. Immediate flow of money between bank accounts. Available 24x7 including weekends and bank holidays.

Advantages: High-end security No passwords are stored in the App

PING PAY Multi-social payment app from Axis Bank Lets you send or ask for money and mobile recharge Used by both Axis Bank and non-Axis Bank customers

Benefits and Advantages Anyone in their friend list, without knowing their bank account details using Ping Pay Non-Axis Bank customers can receive money/recharge Only need to authenticate yourself with a 6 Digit MPIN set by you during registration i.e. for every transaction, the sender gets an auto-generated Ping Code (APC) which the receiver has to know

to receive the money. Axis Bank and Non-Axis Bank customers both can send money/recharge, receive money/recharge and ask

for money/recharge from anyone in their friend list, without knowing their bank account details using Ping Pay

every time you send or ask for money, say whatever you want to say to your friends through customized messages, videos, voice notes or images

All communication between social platforms and Axis Bank server is SSL (Secure Sockets Layer) Secured [which establish an encrypted link between a web server and a browser]

NFC enabled: India’s first contactless mobile payment solution: Introduced by ICICI Bank First contactless mobile payment solution To enable its credit and debit customers make in-store contactless payments by just waving their smartphones near an NFC-enabled merchant terminal. Creates ‘virtual’ cards for ‘physical’ credit or debit cards (Visa/MasterCard) of the Bank.Benefits Speed, simplicity and security. Shift from low value cash payments to electronic payments Physical stores including quick service restaurants and shopping marts where fast transactions are much

required. Level of security is higher.Requirements: Customer is simply required to click on the Touch & Pay icon Select the desired virtual credit / debit card. Once the merchant enters the amount to be charged, the customer can just wave the phone near the POS

machine. A text on the phone as well as on the merchant’s terminal will confirm the transaction.

Biometrics fingerprint scanner

Introduced by IndusInd Bank Availability of fingerprint scanner with mobile phones Customers can do different type of transactions using finger print verification Customers can do end-to-end banking transactions on its mobile app “IndusMobile” The importance of Biometric Fingerprint Verification with financial sector is now being seen in India

with different financial institutions adopting it ..Advantages: It is safe for transactions. No lengthy passwords Transaction is secured by using their mobile phone. These Mobile Apps are allowing customers to do different transactions securely with their mobile

using fingerprint verificationDisadvantages: It is a costly process Someone else who will touch may cause spread of germs.