Smartphones are redefining every aspect of life today and banking is no exception. Mobile banking is the backbone of present banking operations. Over 40 per cent of Savings account transactions is done through mobile and Internet banking. Consumers are increasingly demanding more and more services on the move and banks continue to deploy cutting-edge technology to deliver innovative banking solutions on mobile devices.
Leadership through technology is about continuous improvement and evolution and the new app makes it easy for customers to track and access all their loan related details by the click of a mouse. Money world is far and wide and present-day banking aimed at resident Indians enabling them to send money overseas. From opening bank accounts to transferring money anywhere in the world, the Banks play a pivotal role and empower customers to fulfil their banking needs without stepping out of their homes or offices. Touch banking achieved utmost importance and the Banks cater to needs of their customers by their personalised services.
As the country enters the golden jubilee year of bank nationalisation, banks themselves have little to celebrate about. The current generation of bankers working more on systems than on knowledge hardly seem to realise the rough patch Indian banking is going through today. RBI has directed all banks to provide door-step services to all seniors and above. This means you don’t have to go in the pouring rain to the bank. The banks have to get wet coming to you. Banks will have to provide the best services to survive in the system.
Defective balance sheets, window dressing all add to the woes and shell companies are being promoted to flush out funds received as loan amount. Big bosses escape arrest as they leave the country with an ulterior motive of cheating banks in crores. Banking officials are conniving to make the transactions go through. The middlemen offer huge sum as a kickback for sanctioning such a hefty amount.
Today’s banking experience is thrilling and we feel the confluence of personalised human connect and technology-enabled services pave way for easy banking and avoid customers reaching out to Bank branches for getting the banking transactions done. Fully automated, state-of-the-art bank branches provide round the clock services and kiosks placed at prominent places offer a complete suite of banking services and many other innovations are redefining the customer experience in banks today.
(The views expressed by the author in the article are his/her own.)