Page 5 - Digital Banking
Over 57% consumers prefer internet banking in Covid-19 era: Report
As the pandemic environment is moving consumers to interact more digitally with their banks, platform models offer agility and scalability during uncertain times
 "Over 57% consumers prefer internet banking in Covid-19 era: Report")
Intellect Design Arena launches iTurmeric Fincloud through IBM Cloud
The initiative will support onboarding to the IBM financial services-ready public cloud, including guidance through a prescriptive implementation and evidence process to help deliver Intellect Design
 "Intellect Design Arena launches iTurmeric Fincloud through IBM Cloud")
RBI tells banks to put in place biz continuity plans to prevent disruption
Banks and regulated entities "should also assess the impact on their balance sheet," it said
 "RBI tells banks to put in place biz continuity plans to prevent disruption")
Customer confidence in new-age banking system is increasing: Bain report
A fallout of that is the leakage of business from retail banks to these new age players, which are becoming bigger with each passing year
 "Customer confidence in new-age banking system is increasing: Bain report")
Alibaba's Ant Financial applies for Singapore digital banking licence
The Monetary Authority of Singapore (MAS) has said it will issue five such licences, as it embarks on the biggest liberalisation of its banking sector in two decades
 "Alibaba's Ant Financial applies for Singapore digital banking licence")
Digital banking initiatives of PSBs under merger likely to be delayed
According to officials, integration of core banking systems may take 12-18 months
 "Digital banking initiatives of PSBs under merger likely to be delayed")
States should come up with plan to curb digital banking fraud: LS speaker
Arvind Kumar Sharma of the ruling Bharatiya Janata Party said on one hand the nation was moving towards Digital India while on the other hand, such fraudulent activities were taking place
 "States should come up with plan to curb digital banking fraud: LS speaker")
Number of UPI transactions up 6% at 1.2 bn in Nov; value falls marginally
While the number of UPI transactions during November rose to 1.22 billion from 1 billion in October, the combined value of these declined marginally to Rs 1.89 trillion from Rs 1.91 trillion
 "Number of UPI transactions up 6% at 1.2 bn in Nov; value falls marginally")
Cashe may become a digital bank in five years, says CEO Ketan Patel
Patel on how the fintech company plans to build its business, get a small finance bank licence
 "Cashe may become a digital bank in five years, says CEO Ketan Patel")
Towards digital banking
Bank of England shows the way, others should follow
 "Towards digital banking")
An app may be stealing your bank data, RBI warns digital, UPI users
Digital security concerns have assumed greater importance amid the Modi government's efforts to steer India towards a less-cash, digital economy
 "An app may be stealing your bank data, RBI warns digital, UPI users")
Digital banking users to reach 2 billion this year, says Juniper Research
2017 saw banks worldwide engaging in both technology investments and new tech offerings
 "Digital banking users to reach 2 billion this year, says Juniper Research")
Despite digital push, 90% Indians still prefer branches over online banking
Of the 48% who don't have a digital banking app, one-fourth feel electronic transactions are unsafe
 "Despite digital push, 90% Indians still prefer branches over online banking")
Digital banking needs pro-customer default options
There have been many steps to discourage cash transactions and promote digital banking transactions
As digital banking grows, ATM transactions may decline
There is an excess of Rs 5 lakh crore cash in circulation which is "neither required nor desirable"
 "As digital banking grows, ATM transactions may decline")
Digital banking 2.0
From using Aadhaar cards for withdrawals to mobile-only solutions, new offerings by banks are changing the way you transact
 "Digital banking 2.0")
