Digital banking

V
VIPIN KP
M.COM(NET,SET,JRF), MBA (NET)
LECTURER IN COMMERCE
DEAPERTMENT OF DIPLOMA IN COMMERCIAL PRACTICE
GOVT.WOMENS POLYTECHNIC COLLEGE
KAYAMKULAM-KERLA
vipinkpp@gmail.com
(PH.D. RESEARCH SCHOLAR AT BHARATHIAR UNIVERSITY)
HOW THE BANKING WORLD IS CHANGING
Digital banking
Digital banking
 Digital banking is the digitization (or moving
online) of all the traditional banking activities and
programs that historically were only available to
customers when physically inside of a bank
branch. This includes activities like:
 Money Deposits, Withdrawals, and Transfers
 Checking/Saving Account Management
 Applying for Financial Products
 Loan Management
 Bill Pay
 Account Services
Digital banking
Digital banking
Digital banking
Digital banking
BANK AS DIGITAL PLATFORM
Digital banking
Digital banking
Digital banking
Digital banking
Digital banking
Digital banking
What is the Difference Between Online and Digital
Banking?
For the most part, these two words are synonyms. But,
we define online banking a bit more narrowly: online
banking primarily focuses on remote deposits, money
transfers, bill pay, and basic online management of
accounts. Other synonyms for online banking include
internet banking, virtual banking, and e-banking. So,
online banking focuses on digitizing the “core” aspects
of banking, but digital banking encompasses digitizing
every program and activity undertaken by financial
institutions and their customers.
Digital Banking is the application of
technology to ensure seamless end-to-
end processing of banking
transactions/operations; initiated by the
client, ensuring maximum utility; to the
client in terms of availability, usefulness
and cost; to the bank in terms of
reduced operating costs, zero errors
and enhanced services.
Benefits to the bank:
• Lower operating costs through;
the elimination of costly back-office processing operations,
• fewer (or ideally no) errors,
• smaller branch footprint
(the typical branch can become a kiosk affair, providing
technology interfaces for the client to use plus the ability to
deal with banking specialists via a video link) – a minimum
number of actual staff will be required.
• concentrating banking/business specialists in a single
centre, who are then available to clients via a technology
link (either on their mobile, pc or via a kiosk branch).
• Operating cost savings of between 20% to
40% could be achieved this way, according to
industry experts. Cutting costs has the opposite
effect on profits – they go up.
Benefits to the customer:
• Improved services and product offerings;
24/7 bank services and availability through your mobile, pc or
kiosk branch,
• ‘smart banking’ applications that allow ALL transactions to
be completed from the device of your choice, from
beginning to end (with clear instructions and fail safe
mechanisms),
access to a FULL range of services (savings, investments,
insurance, loans, mortgages, foreign currency, etc.),
new useful client services such as warnings, notifications,
budgeting, expenditure analyses, savings programs,
calculators (you name it – the range is endless),
• Lower charges (and therefore cheaper banking),
• Banking that meets the client’s needs (not the banks).
Digital banking
Digital banking
Digital banking
Digital banking
Digital banking
Digital banking
ENGAGE CUSTOMERS
ENABLE THROUGH TECHNOLOGY
EXTENDED BUSINESS MODELS
Digital banking
NEXT GEN DIGITAL BANKING SOLUTIONS
Digital banking
Digital banking
Digital banking
Digital banking
1 von 36

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Digital banking

  • 1. VIPIN KP M.COM(NET,SET,JRF), MBA (NET) LECTURER IN COMMERCE DEAPERTMENT OF DIPLOMA IN COMMERCIAL PRACTICE GOVT.WOMENS POLYTECHNIC COLLEGE KAYAMKULAM-KERLA vipinkpp@gmail.com (PH.D. RESEARCH SCHOLAR AT BHARATHIAR UNIVERSITY)
  • 2. HOW THE BANKING WORLD IS CHANGING
  • 5.  Digital banking is the digitization (or moving online) of all the traditional banking activities and programs that historically were only available to customers when physically inside of a bank branch. This includes activities like:  Money Deposits, Withdrawals, and Transfers  Checking/Saving Account Management  Applying for Financial Products  Loan Management  Bill Pay  Account Services
  • 10. BANK AS DIGITAL PLATFORM
  • 17. What is the Difference Between Online and Digital Banking? For the most part, these two words are synonyms. But, we define online banking a bit more narrowly: online banking primarily focuses on remote deposits, money transfers, bill pay, and basic online management of accounts. Other synonyms for online banking include internet banking, virtual banking, and e-banking. So, online banking focuses on digitizing the “core” aspects of banking, but digital banking encompasses digitizing every program and activity undertaken by financial institutions and their customers.
  • 18. Digital Banking is the application of technology to ensure seamless end-to- end processing of banking transactions/operations; initiated by the client, ensuring maximum utility; to the client in terms of availability, usefulness and cost; to the bank in terms of reduced operating costs, zero errors and enhanced services.
  • 19. Benefits to the bank: • Lower operating costs through; the elimination of costly back-office processing operations, • fewer (or ideally no) errors, • smaller branch footprint (the typical branch can become a kiosk affair, providing technology interfaces for the client to use plus the ability to deal with banking specialists via a video link) – a minimum number of actual staff will be required. • concentrating banking/business specialists in a single centre, who are then available to clients via a technology link (either on their mobile, pc or via a kiosk branch).
  • 20. • Operating cost savings of between 20% to 40% could be achieved this way, according to industry experts. Cutting costs has the opposite effect on profits – they go up.
  • 21. Benefits to the customer: • Improved services and product offerings; 24/7 bank services and availability through your mobile, pc or kiosk branch, • ‘smart banking’ applications that allow ALL transactions to be completed from the device of your choice, from beginning to end (with clear instructions and fail safe mechanisms), access to a FULL range of services (savings, investments, insurance, loans, mortgages, foreign currency, etc.), new useful client services such as warnings, notifications, budgeting, expenditure analyses, savings programs, calculators (you name it – the range is endless), • Lower charges (and therefore cheaper banking), • Banking that meets the client’s needs (not the banks).
  • 32. NEXT GEN DIGITAL BANKING SOLUTIONS