Finacle Blog

It is sometimes frustrating, in this era of electronic banking, when you think of the compulsion to visit a bank branch, to make a check deposit. Some European nations are already looking at doing away with checks while most parts of the world including the US have still not defined a clear roadmap to go with paperless checks. This indicates that the paper checks era will continue for some more years and there is a need to strengthen check truncation and imaging processes with some legal teeth. Here is a thought on easing the check deposit and reducing costs involved in imaging.

Continue reading "Anywhere Anytime Check Deposit" »

Posted by Venkataramana R at 7:35 AM | Permalink | Comments (0) | TrackBacks (0)

An analyst firm's report on the mobile internet says that in 2014, mobile trading-related activity would be 10 times that in 2009. Another investor survey revealed that a significant proportion of respondents - especially among those below 50 - wanted multiple options to connect with their financial advisors, including mobile texting, tablets and video conferencing.

Continue reading "Smartphones and Mobile Wealth Management" »

Posted by Sai Kumar Jayanty at 9:09 AM | Permalink | Comments (0) | TrackBacks (0)

Mobile banking as we know it has run its course. Most banks offer basic information and transaction services over a mobile platform, which have been accepted by some customers and ignored by most. The trick to achieving large-scale adoption, à la the ATM, is usability and easy experience, and this is where mobile banking must go next. If you want people to pick up their handset rather than trudge across to the nearest ATM, you need to give them a well-rounded mobile banking offering which fulfils most of their personal financial management requirements, including cheque deposit, a significant miss in the current avatar. More importantly, such an offering must be the last word in convenience.

Continue reading "Mobile Banking 2.0 - Its the Next Wave " »

Posted by Chandrashekar Rao Kuthyar at 5:22 AM | Permalink | Comments (1) | TrackBacks (0)

Mobile commerce has been discussed in practically every forum that matters in the past two years. If it's so fashionable, how come we're yet to see real action? Before you protest, I agree that mCommerce is growing, but compare it with card-based commerce to put it in perspective. Plastic rules. While the number of mobile financial service users is expected to near the USD 650 billion mark by 2014, most analysts say that this does not mean that mobile commerce will grow as much. Compare this with USD 6 Trillion worth of card-based transactions (current values) and the penetration of the mobile wallet takes on a new perspective.

Continue reading "Cracking the Acceptance Problem in Mobile Commerce" »

Posted by Kiran KSR at 6:50 AM | Permalink | Comments (0) | TrackBacks (0)

During the 90s, we witnessed the emergence of a trend-setting technology that completely changed the way businesses functioned. 'E-Commerce' or Electronic Commerce brought about a path-breaking shift by offering us the ease of carrying out transactions online, from anywhere at any time. And today we witness the growing popularity of an edgier adaptation of e-commerce: M-Commerce, an extension of e-commerce offers us the same convenience, but at a more personal level. It refers to carrying out transactions online, using a mobile device. And the best bet about m-commerce is that it takes e-commerce to that section of the population which cannot afford computers, but widely use mobile phones.

Continue reading "M-Commerce: Taking E-Commerce to the Next Level" »

Posted by Gautam Bandyopadhyay at 6:02 AM | Permalink | Comments (0) | TrackBacks (0)

With a large number of mobile carriers today, wouldn't you agree that smart phones would soon displace debit and credit cards, and go way beyond e-commerce?  I would most certainly say that the mobile revolution is primarily changing the way consumer marketing occurs by making the best of today's growing technology. Mobile marketing is quickly gaining momentum, and it is perhaps just the tip of the iceberg that we see, as m-commerce will indeed work wonders for the average consumer. Needless to say that it's all set upon revolutionizing consumer marketing.

Continue reading "M-Commerce - All about growing consumer convenience" »

Posted by Gautam Bandyopadhyay at 4:36 AM | Permalink | Comments (0) | TrackBacks (0)

Don't you think today's smart phone is quickly morphing into a proverbial 'Swiss army knife' given the range of applications supported and the myriad of activities carried out by its user? Being a gadget geek myself, I'm not really complaining, but sometimes it can get pretty tough to keep up with all the latest apps!

Continue reading "The Emerging Opportunity in Prepaid M-Commerce" »

Posted by Gautam Bandyopadhyay at 4:27 AM | Permalink | Comments (1) | TrackBacks (0)

Being a self-confessed mobile addict, I was curious about how that little device had insinuated itself into my life, almost without my realising it. What was driving the massive adoption of mobile technology, for banking in particular, by millions of users? Had the trend peaked or was there more to come?

Continue reading "Mobile Banking: Where from and where to?" »

Posted by Kiran KSR at 4:16 AM | Permalink | Comments (1) | TrackBacks (0)

A firm specializing in telecom business intelligence predicts that the number of mobile banking users will grow by almost 60% each year to touch 894 million by 2015 and adds that mobile devices are well positioned to become the primary digital channel for financial services in emerging markets.

Continue reading "Choosing the Right Mobile Banking Partner " »

Posted by Balwant C Surti at 3:28 AM | Permalink | Comments (0) | TrackBacks (0)

A staggering 2.5 billion people, or about half the world's adult population, are unbanked posing a massive challenge to conventional modes of reach such as ATMs and local correspondent networks. But analysts believe that the mobile phone is well set to become the most important electronic banking channel in emerging markets, which incidentally house the bulk of those without access to financial services.

Continue reading "The Mobile Phone - the Bank of the Unbanked" »

Posted by Gautam Bandyopadhyay at 3:11 AM | Permalink | Comments (1) | TrackBacks (0)

*About 14% of mobile phone users in UK use the self-service channel i.e. mobile banking for quick, easy and simple transactions - a trend that doesn't seem to be doing too well. In view of the age old pattern, UK has always topped the self-services chart with Internet banking being widely used as compared to the U.S.A, Philippines, and China etc.

Continue reading "Mobile Banking Gets Modish in UK" »

Posted by Chandramouli Kundagrami at 9:01 AM | Permalink | Comments (0) | TrackBacks (0)

Mobile banking is staging a strong comeback in the United Kingdom, driven by smartphones and other 3G enabled devices which promise a rich user experience.  Monitise, the mobile banking specialist, estimates annual mobile banking growth to be a whopping 30%. Mobile remittances are also on an upward trajectory, aiming at £6 billion by 2012.

Continue reading "Succeeding in UK with the bank-focused model of mobile banking" »

Posted by Shekhar Kapoor at 5:58 AM | Permalink | Comments (0) | TrackBacks (0)

The mobile channel emerged as the perfect solution for financial institutions in search of a way to extend reach, improve customer convenience and lower operating costs.  That being said, mobile banking may have enhanced customer experience and supported financial inclusion, but it has been dogged by security issues all along. Service providers have to safeguard transactions at three levels – authenticate user identity, protect devices against replication and secure data transmission. While various technologies such as user and mobile PIN, data encryption, limited on-device data storage and multi-factor authentication improved the safety of mobile transactions, they could not be universally applied and hence, excluded a huge number of older or less powerful devices.

Continue reading "A Multifaceted Approach to Mobile Security" »

Posted by Kiran KSR at 2:53 AM | Permalink | Comments (1) | TrackBacks (0)

Bankers…can now bring together mobile lovers of the world profitably… really they have nothing to lose but their credit cards… or wallets or chequebooks! mCommerce, heralded as the next big thing, is set to alter the payments landscape, promising convenience and reach, almost beyond imagination. In the not too distant future, users will be able to pay for almost anything, including a cab ride using their mobile phone. And the options are wide open – the phone could work like a prepaid instrument, act like a virtual credit card or be the commerce platform itself – take your pick.

Continue reading "Mobile commerce: On the move" »

Posted by Gautam Bandyopadhyay at 9:58 AM | Permalink | Comments (0) | TrackBacks (0)

Mobile payments are what I’m talking about. Mobile banking is expected to lead the way to adoption of serious utility driven mobile value-added services. The promise that it holds for a bank is very tempting.

Continue reading "It’s a trillion dollar business. Interested?" »

Posted by Puneet Gupta at 6:42 AM | Permalink | Comments (0) | TrackBacks (0)