2. Name :Khushboo V Joshi
Roll No :FB318
Class :Finance B (Sem 3)
Subject :Digital Banking
3. INTRODUCTION
The term “Innovation” means ‘to make something new’.
Banks no longer restricted themselves to traditional banking
activities, but explored newer avenues to increase business
and capture new market.
Today, we are having a fairly well developed banking
system with different classes of banks.
Some of them have engaged in the areas of consumer
credit, credit cards, merchant banking, internet and phone
banking, leasing, mutual funds etc.
A few banks have already set up subsidiaries for
merchant banking, leasing and mutual funds and many
more are in the process of doing so.
4.
5. E-BANKING
• E-Banking or Electronic Banking is a major
innovation in the field of Banking.
• Earlier Banking was conducted in a very traditional
manner, there were no such innovations.
• Information revolution led to the evolution of
internet , which lead to E-Commerce continued by
evolution of E-Banking.
6. WHAT IS AN E-BANK?
– Internet
– W
AP based mobile network
– Automated telephone
– ATM network
– SMS and FAX messaging
– Multipurpose information
kiosks
– Web TV and others …
E-channels enable financial transactions from
anywhere and allow non-stop working time.
7. WHAT IS AN E-BANK?
– Internet
– W
AP based mobile network
– Automated telephone
– ATM network
– SMS and FAX messaging
– Multipurpose information
kiosks
E-channels enable financial transactions from
anywhere and allow non-stop working time.
8. Modern banking is virtual banking. Virtual Banking means a
customer cannot see the bank but with the help of technology
he can conduct the banking activities anywhere in the world.
The major types of virtual banking services includes:
Automated Teller Machines (ATMs), Smart Cards, Phone
banking, Home banking, Internet banking, Tele banking,
ATMs, Smart Cards, etc.
Advantages
Faster & more convenient transaction
No longer required to wait in long queues
Opening of account simple & easy
Apply for bank loan
Cost effective for banker side
Fund transfer become faster & convenient
Stock trading, exchanging bonds & other investment.
9. DEVELOPMENT OF E-BANKING IN INDIA
⚫ICICI was the first bank to initiate the
Internet banking revolution in India as
early as 1997under the brand name
'Infinity‘.
⚫ICICI Bank kicked off online banking way
back in 1996 . But even for the Internet as
a whole, 1996 to 1998 marked the
adoption phase, while usage increased only
in 1999- due to lower ISP online charges,
increased PC penetration and a tech-
friendly atmosphere.
10. RBI & E-BANKING
⚫The Reserve Bank of India constituted a working group on
Internet Banking.
⚫The group divided the internet banking products in India into 3
types based on the levels of access granted.
⚫They are:- i) Information Transfer System:
ii)Electronic
iii) Fully Electronic Transactional
11. Artificial Intelligence (AI) is a technology that
proves beneficial for banks and their customers.
AI helps banks increase their functionality with
ease, that too at lower costs.
AI helps customers get practical and customised
banking service recommendations.
12.
13.
14. The following are 5 applications of
Artificial Intelligence in banking:
1. Customer service/engagement (Chatbot)
2. Robo Advice
3. General Purpose / Predictive Analytics
4. Cybersecurity
5. Credit Scoring / Direct Lending
15. Conclusion
Banking sector in Indian has given a positive and
encouraging responses to the financial sector
reforms.
Entry of new private banks and shaken up
Public sector banks to competition.
The financial sector reforms have brought India
financial system closer to global standards.
With the India increasingly getting integrated with
the global financial world, the Indianbanking
sector has a still long way to go to catch up with
their counter parts.
