Next Gen banking

New age Technology has changed total banking systems and taken it to a new level. Banking facility or service once we considered as a ‘special service’, has now become imperative’. Like internet banking, was a paradigm shift in banking and was offered by big players (in banking) as a unique feature, but this has become a common feature across all banks including co-operative banking industry. Banking at your door step & Banking at your palm top are already the latest trends, apart from the IMPS Instant Mobile Payment System which can now be renamed as Immediate or Instant Payment Services is getting more popularized.

Banks are moving from a product-centric approach to a client-centric approach fully understanding client’s requirements and re-design their products & relationships. As latest trend, mobile phones has become the part everyone’s life , rather this gadget has become indispensible in every one’s life. Commercial banks are looking for the penetration in the mobile application banking, like wise large and mid-size co-op. banks are also follow the suit.

An efficient enhancement initiative in the payment area, CTS Cheque Truncation System has simplified and fastened the Cheque/Instrument clearing systems. ATMs are going to be converted as KIOSKS where the customer can do any banking financial transactions.

Net banking is so popularized among the younger generations such that the next gen gadgets almost Banking Application is now embedded on mobile gadgets an mini tablets so that the customer interact with the bank at any time.

Banking, paying and buying with a mobile device is the mobile application advancement in Banking Technology. Leading banks, payments companies, retailers, mobile networks and media owners use mobile technology platforms and services to securely connect people with their money in developed and emerging markets.

Our Central Bank , Reserve Bank of India envision to bring the whole Indian Population to bring under the banking umbrella, with its Financial Inclusion initiatives. RBI proposed the creation of a Universal Electronic Banking Account (UEBA) for all Indians above the age of 18 and access all formal banking transactions through banks, their correspondences, kiosks or service centers.