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Paperless banking

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Advanced Banking Technology Modern Tools of Banking

Text of Paperless banking

  • 1. -Its a dream of Mr. Joe Trafton

2. Meaning:E-bankingPaperless BankingMaking the banking transaction easilyand to avoid the papers in the transactionsinstead of papers using through electronicdevices using in the day today activity in thebanking sector. 3. Meaning:Banks are constantly looking atways to make their processes moreproductive and Environmentfriendly,with the use of technology, oldmethods are slowly giving away tonewer & more efficient process. 4. Paperless Banking includes:Its a base for green banking and green concept in the bankingsector.Mobile BankingE-pass book ,Internet BankingCheque less, TabletOnline banking( purchasing)Bill Payment, Through plastic cards 5. Functions of paperless banking:A. Cash DepositsB. Cash withdrawalFund TransferBalance inquiryE-payment 6. Green Banking History:First Green Banking concept adopted byCOMMUNITY BANK in the year 1999,It is is in United states and the founderis Ken Laroe.This bank is known its focus onenvironment friendly banking practices, 7. An Overview: 8. Why should we go for Paperless? 9. To increase the profitability and productivityof the Banks.To give the fast and accurate services to thecustomer. 10. To save the time and energy of the bothcustomer and Banker. To conserve the Forest and trees.Acacia, Bamboo, Neelagiri, other woods. Involving in CSR and Ecofriendly products 11. Paperless Banking MachineSwipe and WithdrawSwipe and Deposit 12. State Bank of India 13. Flash back:In 1990s Desktop computer= Rs 1.75.000/-But,Today 2014 Desktop computer= Rs 15000/-Earlier days banking sector need more capitalto invest advanced electronic technology intobanks and also lack of knowledge to the bothbanker and customer.Today everywhere we can see Paperless officeconcept adapting 14. Benefits of paperless banking:Enhanced image of an innovator:Early adapter of paperless approachUse of tablet for routine activitiesCustomer can signature on table 15. Improved teller efficiency :Data entry errors freeEntire customer satisfactionQuick process, transactionCustomer profile on fingertip 16. Improved customer experience: * No filling up of forms * improved sense of security * Self-bank account opening ininternet. 17. Paper+ V/S Paper-1.Routing N storage costs2.Locating lost documents3.Sharing and collaborating4.Remote access5.Back-up /disaster recovery6.Dust and damaged papers7.Resulting past working (Auditing)8.Preparation of financial reports.Ex. Govt. dept. Old records 18. How it works?? 19. Challenges of paperless bankingTechnological know how 2Awareness, knowledgeSecurity and safety thoughtsAvoiding, ignoringIts complex 20. Limitations: E-waste Some time not user friendly Hacker and insecurity feeling Not so popular Electronic device and power is required Not applicable all the time 21. Conclusion: Need for E-waste proper management andrecycling point and guiding the advancedtechnology to make popular this paperlessbanking.