Just few days more and we would finish the first quarter of 2019, the year of technology, data, and innovation. So, for a while lets pause and think about the Digital you? When one of my friends told me – you are a digital person, I shrugged my shoulders NAAH! I still withdraw cash from ATM, prefer going to a shop and book tickets on phone. His next question was – What about Banking? When was the last time you went to a branch? How often have you written a cheque and deposited in the nearest bank branch? Have you used any digital wallets to avail cashback on bill payments? Haven’t you chatted with a chatbot to get an answer to your queries?
“Managing money digitally” is one of the key indicators of your digital life.
Are you a Digital Banking Customer like me who calls himself/herself as “Not so Digital”? If yes, the post of today would help you recognize some of the fascinating “digital tools and products” of banking that you may be using but aren’t aware of –
Accessing Your Banking Account
How do you access your savings/salary account? Visiting the nearest branch or logging in via a web browser through your bank’s website? Checking of account statements, funds transfer are currently done by 45 million users in India as per a report of 2017. The report also cites that by 2020 online banking users would reach 150 million.
Analyzing Spending’s/Expenses
Have you used an app like SpiltBill or Monefy or inbuilt tools from your bank to analyze the expenses made in a particular month? Many users also link their bank accounts to such tools that use Open API architecture and bank details could easily flow from bank to such apps.
Managing Personal Financial Portfolio
Living in a tier-1 and tier-2 cities have you received a call from Sharekhan, Arthyantra offering their services to trade online and manage your financial portfolio? The products again use the Open API concepts and fetch the banking details [with your consent], based on your allotment of capital and risk you are willing to take, they suggest plans and products that could earn a good ROI.
eKYC
Have you been asked by your banks to refurbish the updated documents for KYC? What were the channels provided? And which one you chose? Many banks have now started accepting eKYC that is hassle free and fast.
Availing Value Added Services via Digital Wallets
Amazon is spending gigantically to lure Indian customers, recharge a prepaid avail cashback, shop groceries online get cashback. Same goes with paytm, in fact during demonetization in India in 2017, paytm made huge profits and got massive new users. Have you used any of the digital wallets then that portrait your digital personality?
Chatting with a ROBOT – Chatbot
A decade back “Customer Care” was a booming sector, I remember my stay in Gurgaon [now known as Gurugram] way back in 2004 which was considered to be a hub of call centers. Indeed the sector is still growing, but now with the advent of Machine Learning and Artificial Intelligence many times you are actually talking to a robot who is programmed to answer your query just as a human representative. While firm like niki.ai helps you to book cab, recharge your phone or order food, mypoolin assist you to pay with your friends.
If you have missed even one of the tools/products to experience, ask your bank to contact Teknospire. A leading technology provider from Bangalore India could help your bank in launching these services and there is a lot more to choose from our innovative product bouquet. Contact us now.