Things To Know In The New Age Banking Solutions
Living in the modern age forces people to be up-to-date with the essence of technology trends for all industry sectors. Banking sectors always face complexities in handling the whole typical bank-related processes. As the trend of technology is evolving worldwide and almost in every sector so it has become an important task for every industry to walk with current technological changes. What about future trends? How the banking sectors are adopting new age banking solutions?
Have a look at the below-defined points :
Traditional Phone Banking Is Rising
With the rise of phone usage in India, traditional phone banking is on the rise. The usage of SmartPhone is very high among people but still, there are many such users who are involved in using the traditional feature phone. Considering all such points banking sector like YES Bank has made a tie-up plan with a tech firm named as Taisys which is based on Taiwan for offering bank-related transactions on the featured phones without the need of internet connection. You only need to apply a sticker on your phone SIM Card that will help you to enable a menu from which you will able to make payment and fund transfers. This service works on the text message itself.
ATM Cash Withdrawal Via Fingerprints
DCB Bank has launched a new service that enables people to withdraw money from the ATMs without using their ATM card or PIN and just through fingerprint scanning. For acquiring this amazing and safe service, you have to link your Aadhaar card number to your bank account. Once you are done with this process, you will have to enter Aadhaar number and make use of the fingerprint to withdraw cash from the ATM. DCB Bank is upgrading all the ATMs through the biometrics-based authentication transactions with the regular ATM card and PIN number services.
Merchant Payment With The Impact Of Sound Waves
The YES Bank and HDFC Bank have done a tie-up with UltraCash which is famous for providing the technology-based solutions that provide mobile-based payments for users without accessing any data or any type of special hardware. UltraCash is popular for processing payments with the essence of sound waves. For this, the user has to open the app and enter a password and take your phone close to the merchant’s device. As soon as you will take your phone near, it will receive the invoice and then you have to enter some other password and the whole transaction will be done with the help of sound waves. The most important benefit of this banking solution is that there is no dependency on the Internet Connection or make use of hardware for doing payments.
As the trend of technologies is escalating in today’s era, it has become an essential task for every bank to envision online banking. For this, you must adopt the new age banking solutions offered by different banks. You can contact JC Pay to avail easy mobile-based money transfer platform which is done with a highly-secured feature of user’s fingerprint.