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Technology in Finance

ATMs Electronic Banking Branch BankingBranch 3 Branch 2 Branch 1 Head Office Branch 4

Branch n Branch 6

Branch 5

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E-BankingBANKNET A communication software to provide message and file transfer between branches of banks and across banks CRM (Customer Relationship Management) Is an information technology industry term for methodologies, strategies, software, and other web-based capabilities that help an enterprise organize and manage customer relationships.3

E-BankingALPM (Advanced Machine) Ledger Posting

Micro processor based electronic device used for maintenance of primary ledgers, working out products and interests at periodical intervals, preparation of account statements and listing of standing instructions to be executed in the accounts.4

DBMS (Database Management System) A set of computer programs that controls the creation, maintenance, and utilization of the databases of an organization. E-Commerce Is conducting business communications and transactions viz computers over networks. It is the buying and selling of goods and services through digital communication

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E-BankingTouch Screen :Recognizes human touch. Users can point to the select something on the screen.

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E-BANKING DEVELOPMENTSALPMs and Back Office Computerization. NEED TO IMPROVE CUSTOMER SERVICE INTRODUCTION OF COMPUTERISATION ATMs, ELECTRONIC FUND TRANSFERS, BANKNET, ELECTRONIC MAIL, CREDIT CARDS, ONLINE BANKING, TELE-BANKING, ETC

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Indian Banking-Now...Mobile Banking / Phone Banking Network Banking Virtual Banking Universal Banking Online Banking / Internet Banking8

WHY TECHNOLOGY IN FINANCE ?To transform financial services industry in the net worked world,

Banks to be customer centric Provided services/ products Across range of channels To be futuristic and have TIME in all its dealings with customer.

value

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Many Benefits of TechnologyIncreased operational efficiency, profitability & productivity Superior Customer Service Multi-channel, real-time transaction processing Better Cross-Selling ability Improved management / accountability Efficient NPA and Risk Management Minimal transaction costs Improved financial analyses capabilities10

Focus aspects of Financial BankingFinancial BusinessCore Banking (CBS) Electronic Banking Any Branch Banking CRM MIS & Intranet ATMsPOS Terminals and Cash dispenser

Corporate Network

Card Management Document Management

Risk Management

Resource Management11

Benefits of Virtual Banking Large satisfied customers and higher retention Scope to attract new customers Improve quality and differential services Greater opportunity to cross sell Sharing network and Cost Saving Increased volumes and profits Reduce overall risk with proper MIS12

Benefits to CustomerMore convenience & flexi timings Better awareness of products & services Up-to-date information on accounts Low cost of accessing the accounts

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BANKS IT STRATEGYINVESTMENT IN HARDWARE ACQUIRING / DEVELOPING SOFTWARE TRAINING OF STAFF AT DIFFERENT LEVELS SECURITY FOR TRANSACTIONS & INFO GLOBAL REACH ONLINE BANKING, OUTSOURCING14

Internet BankingIssues of Confidentiality ? Hacking and Fraud prone ?? Scope for failure of Technology ??? Resultant denial of Services ????

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Automated Teller MachinesATMs or 24 hour Tellers Electronic Terminals - allow to bank at any time... On-site (near branch) and Off-site ATM ATMs facilitate withdrawal/deposit.... Customer provided with a PIN / Card Introduced in India by Foreign Banks SWADHAN / SPNS wef Feb 1, 1997 Introduced in Mumbai by IBA initiative

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SBIs Mobile ATM in Kerala

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Electronic Funds Transfer (EFT)Hosted and operated by the RBI Permits fund transfer up to Rs 5 lacs from any account at any branch of any member bank in any city to any other account at any branch of any member bank in any other city RBI acts as the service provider as well as regulator18

ECSElectronic Clearing Scheme (ECS) operated by the RBI since 1996-97 Utilises BANKNET and INFINET Facilitates payment from a single account at a bank branch to any number of accounts maintained with the branches of the same or other banks Eg., Payment of dividends RBI has also launched ECS Debit for payment to utility companies like Telephones, Electricity etc

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SERVICESBill Payment through Electronic Banking Electronic Shopping Mall Effecting Personal Investments through Electronic Banking Trading in shares Investing in Mutual Funds Trade In Derivatives IPOs Online

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Customer Relationship Management (CRM)Not a product / service, but a strategy Increasing competition among banks Customer expectations and demands Product development / Service Quality Know Your Customer (KYC) guidelines Knowledge Management in Banks Call Centres, DSAs, Franchisees in Banks Two Banking Ombudsman Schemes Core Banking Solutions & CRM Packages for Best Customer Service21

Beware ofHacking Phishing Pharming Skimming Trojan22