U21 Assignment Cover Sheet

1} How the Indian banks are leveraging the technology in addressing the future generations without compromising on traditional paper based transactions?

Ans)-Indian Bank has come up with different technologies in banking sector more making banking easy and familiar to common people.

The most important point for introducing technology is that customer wants to do is work faster within seconds without moving anywhere he would be interested towards technology to do any transactions.

Indian Banks have come up with different technologies like mentioned below.

ATM

INTERNET BANKING

MOBILE BANKING

PHONE BANKING

IMPS

CARDLESS CASH FACILITY

CASH DEPOSIT MACHINE

CHEQUE DEPOSIT MACHINE

VIDEO CALLING

Account Opening Tablet

Banks has given different opportunity to customer without coming to bank and wasting their time.More the usage of technology less will be the paper work .As right said India average population will be of age 29 this matters a lot for banking sector.

More the banks bring new technology more will be the customer as they show interest to wards technology.

Banks has given different modes to transact to the cutomer according to their convinent.

2)Explain the internet and mobile banking process and its merits and demerits. And discuss the measures taken by banks to protect safety and security of online transactions? Ans)

Merits:-

The major merit of these two technology is customer is not needed to come from a long distance from his home to the bank to do the transaction .

He can sit at his home and can transact what ever he like.

No usage of paper customer need to verify himself by logging into internet banking with his credentials

Customer has different options.

He can transfer money from ICICI to ICICI

He can transfer money from ICICI to other bank

He can transfer money to abroad

He can place any kind of request

He can see his statement

He can different investment which suits him the best (FD,RD,Insurance,Mutualfund etc)

And many more options bill payment/ecs/recharge etc.

Any problem he can contact to customer care 24*7Demerits:-Due to more fraud in online customer need to be careful regarding fishing

Most of the data is hacked by hackers and are used against you

The money will be deducted from the account

Never to share any credentials with any one

Bank need to provide more secured site for customer there must be different level of verification like mentioned below.

OTP should be send to registered mobile number

GRID Values should be asked present on back of the card

CVV number must be asked

Pin must be asked

3D secure pin must be asked

At last the transaction password must be asked

If all the process is successfully verified then only transaction must be happen so no frauds can be done

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