Page 6 - Digital Banking

Over 290,000 cyber security incidents related to banking reported in 2020

Union Minister Dhotre informed the Parliament on Thursday

Banking: Yesterday, today and tomorrow

With the customer spoilt for choice, the option for the banking industry in the new decade is between going digital or dying

Faced with high growth in traffic, banks to ramp up digital capabilities

They will soon take a call on tech spending

From loan moratorium to digitisation, 2020 saw major shifts in banking

The central bank allowed a moratorium (payment holiday) on dues for six months

Best of BS Opinion: Fifty shades of media, digital dangers, and more

Here's a selection of Business Standard opinion pieces for the day

Why banks should spend on branches despite increased digital penetration

Though the functions of a branch may have not changed in years, their focus has shifted from transaction to customer retention

Digital dangers

Unauthorised lending apps must be stopped

Innovation, Umbrella apps to drive digital banking in new decade

The 2020 experience brought forth the challenge of adequate infrastructure for online transactions and customer experience

Banks should focus more on cash-flow based lending, says RBI Governor

In this regard, credit bureaus and the proposed Public Credit Registry (PCR) framework can improve the flow of credit as well as credit culture in the country, according to the governor

ICICI Bank enters fintech space, launches 'iMobile Pay' application

Users can transfer money to any bank account, payment app and digital wallet.

Irked by outages, RBI asks HDFC Bank to halt fresh digital launches for now

RBI measures won't affect existing customers. Similar measures could be taken for larger banks that faced recent outages

SBI's next challenge: Keeping digital banking app YONO ahead of the curve

Bank enters uncharted territory as it looks to license app, which it values at $40 billion

Shift towards digital banking is going to be permanent: SBI Chairman

However, physical branches will remain as visibility helps, he added

Karur Vysya Bank's focus areas will be MSME, retail: MD & CEO B Ramesh Babu

'Won't participate in consortium accounts where our share is least as we will have no say', said B Ramesh Babu

Digital Apnayen: PNB launches campaign to encourage digital banking

The campaign launched by the bank's Managing Director S S Mallikarjuna Rao on the occasion of Independence Day is till March 31, 2021

Coronavirus impact: SBI goes virtual to reach out to its customers

The country's largest bank kept about 22,000 branches and 60,000 ATMs running during the lockdown

Over 57% consumers prefer internet banking in Covid-19 era: Report

As the pandemic environment is moving consumers to interact more digitally with their banks, platform models offer agility and scalability during uncertain times

Intellect Design Arena launches iTurmeric Fincloud through IBM Cloud

The initiative will support onboarding to the IBM financial services-ready public cloud, including guidance through a prescriptive implementation and evidence process to help deliver Intellect Design

RBI tells banks to put in place biz continuity plans to prevent disruption

Banks and regulated entities "should also assess the impact on their balance sheet," it said

Customer confidence in new-age banking system is increasing: Bain report

A fallout of that is the leakage of business from retail banks to these new age players, which are becoming bigger with each passing year