Emerging Technologies Emerging Technologies In BankingIn Banking
Presented by
Febin Francis.P- 2672579Dinesh Ravindran- 2672580Bhupinder Varaich- 2656725Harvinder Kaur- 2672572
OverviewOverviewIntroductionVoice Vault
◦Key characteristics◦Business justification◦Future prospects
ViVOtech◦Key characteristics◦Business justification◦Future prospects
IntroductionIntroduction
Commonwealth bank of Australia
#1 financial institution
Uses advanced technologies for customer satisfactions
◦ Net banking◦ Tele banking◦ E-cheques◦ E-money
Introduction cont...Introduction cont...Usage of advanced technologiesEnhances customer convenienceTransaction speedEfficiencyEffectivenessFurther more advancement
◦Voice Vault - Biometrics◦ViVOtech - NFC
Voice VaultVoice Vault
Unique Biometric technologySpoken word to verify identityOver the phone or webAccurate, fast, convenient cost effectiveEffortless and secure
Voice VaultVoice VaultSpoken Word to verify identityThe unique characteristics of
◦Diaphragm◦Mouth ◦Nasal◦Sinus cavities influences the sound
Sophisticated algorithm measures the soundConverted into unique digital representation
– Voiceprint
Voice VaultVoice Vault
Voiceprint comparisonVoice filterAs based on the sound, Voice Vault can
work over – ◦Telephone◦Web
Works across all types of phones
How it works?How it works?
How it works?How it works?
How it works?How it works?
Key characteristicsKey characteristics
Easy to useMultifactor authenticationHigher degree of certaintyTwo factor authenticationSpoken number verificationChallenge response
Business justificationBusiness justification
Boosts banking securityImproves authentication processThrough internet or phoneCost effective, convenient for customers,
high level of security and privacycombat identity thieves and phishing
expeditions
Future prospectsFuture prospects
Calculates the stress levelVoice verification on the time of
◦Ill◦Voice loss
Alternative accessPeople have little confidence in pin &
password access50% needs complex mechanism
ViVOtechViVOtech
End-to-end transaction platformContactless payment techniqueUses NFC3rd generation payment system‘Tap and Go’ mechanismMobile phone payment solution
Key characteristicsKey characteristics
ConvenientFastSecureEasy to useSupports all global standardsCryptographic, authentication, and
wireless communication technologies
BenefitsBenefits
Increased revenueOperational savings and efficiencyIncreased customer loyaltyStronger customer relationReplace cash and associated feesBigger transactions
Business justificationBusiness justification
Opportunity to improve customer convenience
Creates new service modelEnhance its credit as well debit card
transaction volume23% of cash transactions are replaced by
contactless paymentsReduced work loadQuicker than cash and safer than cheques
Future aspectsFuture aspects
Trendy technology for mobile phone services
Organizations will advance globallyMay be used irrespective of locationAdvanced purchasing
Future aspectsFuture aspects
ConclusionConclusion
Potential applicationsGreater comfort and satisfactionCope up with high level of competitionMaintain high level of securitymanipulated to more convenient ones Conquering new threats