Netbanking switch to provide better visibility into transactions: NBBL CEO

NBBL's Banking Connect aims to streamline netbanking by standardising bank-aggregator ties, giving regulators better visibility and improving settlement, success rates and grievance management

A new netbanking switch, Banking Connect — developed by NPCI Bharat BillPay (NBBL) — is expected to standardise netbanking partnerships and give the central banking regulator greater visibility into transactions and grievance management, said Noopur Chaturvedi, the entity’s managing director and chief executive officer (CEO).

  Additionally, as an entity processing bill payments, business-to-business (B2B) transactions and now operating a netbanking switch, NBBL is targeting 1 billion monthly transactions in the next three to four years, up from the current 260 million.

 

How does the new netbanking switch improve interoperability?

 

Bharat Connect, the netbanking switch launched this year, provides interoperability