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Transcript of Banking
Sadiya Modern Methods of Banking Methods of banking have evolved
over time Debit card/Credit Card Future ATM Mobile Banking Mobile banking (also known as M-Banking, mbanking) is a term used for performing balance checks, account transactions, payments, credit applications and other banking transactions through a mobile device such as a mobile phone or Personal Digital Assistant (PDA). Bank A bank is a financial institution and a financial intermediary that accepts deposits and channels those deposits into lending activities, either directly by loaning or indirectly through capital markets. A bank is the connection between customers that have capital deficits and customers with capital surpluses. The process of lending and borrowing of money is known as banking. Modern Methods of Banking ATM An automatic teller machine (ATM) automated banking machine (ABM), is a computerized telecommunication device that enables the clients of a financial institution to perform financial transactions without the need for a cashier, human clerk or bank teller. 1. The Cash Barrel
With this screen-free cylinder, "the transaction time is literally seconds," says Lyle Sandler, NCR's VP of design and customer experience. Users select from a flashing row of fixed withdrawal sums after dipping their card or scanning their thumbprint. The minimalist design both aids security (no corners to pry) and lowers production costs (few moving parts).
2. The Tower
Users set up withdrawals on their cell phones and then tap them on this no-interface consoleto get the cash. (The technology is similar to what's used in the express lanes at tollbooths.) To clarify the machine's purpose, Sandler emblazoned the tower with bright green dollar signs: "Iconography is better than words. You know what it is immediately."
3. The Motion Sensor
In lieu of a germ-riddled touch screen or keypad, users transact by pointing a finger or waving a hand past a motion sensor. The console's shape evokes a woman sitting. "People tend to find that comforting," says Sandler. Uses of ATM 1.Withdrawing cash
2. Depositing cash
3. Depositing cheques
4. Checking account balance
5. Account mini statement
6. Mobile recharge/top up etc Mobile Banking Services Account information
Payments, deposits, withdrawals, and transfers
Support Mobile Banking functionalities •Communication enrichment: - Video Interaction with agents, advisors.
•“Mobile wallet” capabilities.
•Customer Education: - Demos of banking services
•Build Brand - Built the bank’s brand DEMAT Dematerialisation is the process by which a client can get physical certificates converted into electronic balances.
An investor intending to dematerialise his securities needs to have a demat account to trade in listed stocks or debentures in electronic form rather than paper. Advantages of DEMAT •Easy and convenient way to hold securities
•Immediate transfer of securities
•No stamp duty on transfer of securities
•Safer than paper-shares (earlier risks associated with physical certificates such as bad delivery, fake securities, delays, thefts etc. are mostly eliminated)
•Reduced paperwork for transfer of securities
•Reduced transaction cost BRANCH In recent times banks have started setting up their banks as small retail outlets in various locations to make it easily accessible for the public to reach their bank and also helping themselves get a large number of customers. Internet Banking Allows customers of a financial institution to conduct financial transactions on a secure website operated by the institution, which can be a retail or virtual bank, credit union or building society.It may include of any transactions related to online usage
To access a financial institution's online banking facility, a customer having personal Internet access must register with the institution for the service, and set up some password (under various names) for customer verification. Features of Internet Banking A bank customer can perform some non-transactional tasks through online banking
Bank customers can transact banking tasks through online banking,
Financial institution administration
Management of multiple users having varying levels of authority
Transaction approval process EDC Machines Electronic Data Transfer Call Centres Now-a-days banks have established call centers to keep a good relationship with their customers by allowing the customers to call the call center at point of time to verify any details, to clear their doubts, get proper guidance, to get answers to their queries etc. This helps them satisfy their customers and get a larger number of customers as a result of good client servicing. Risk involved: CC- Low.
DC- High, as they are attached to a bank account. A person does not need a pin number to use a debit card and therefore can easily drain a persons bank account, causing extreme problems.
Limit: Credit line, which can be increased/decreased from the time of applying.
Equals your account limit.
Overdraw Fees: Low.Some credit card companies allow to overdraw amount over the maximum credit line with a fees High "overdraft" fees. Possible to overdraw amount over the account limit
Connected to: Need not be connected to any bank account. Checking Account;Savings Account
Monthly bills: Yes No
Line of Credit: Carries Line of Credit
No Line of Credit
Interest: Pay additional interest drawn on the amount borrowed. No Thank You