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Alternate Channels of Banking

This document discusses various alternate channels for banking, including ATMs, phone banking, internet banking, POS terminals, and mobile banking. It provides details on the functions and services available through each channel. ATMs allow 24/7 access to cash and other services using a PIN for authentication. Phone banking provides almost all non-cash services from a centralized location. Internet banking allows customers to access accounts and conduct transactions online. POS terminals allow merchants to process credit and debit card transactions at the point of sale through an electronic network. Mobile banking enables basic services through SMS, GPRS, or USSP platforms on encrypted mobile applications.

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mohil kashyap
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344 views14 pages

Alternate Channels of Banking

This document discusses various alternate channels for banking, including ATMs, phone banking, internet banking, POS terminals, and mobile banking. It provides details on the functions and services available through each channel. ATMs allow 24/7 access to cash and other services using a PIN for authentication. Phone banking provides almost all non-cash services from a centralized location. Internet banking allows customers to access accounts and conduct transactions online. POS terminals allow merchants to process credit and debit card transactions at the point of sale through an electronic network. Mobile banking enables basic services through SMS, GPRS, or USSP platforms on encrypted mobile applications.

Uploaded by

mohil kashyap
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd

Alternate channels of

Banking
Bankers quotient

Technology products

ATMs
Phone Banking
Internet Banking
POS or Point of Sale terminals
Mobile Banking

ATMs
Automated Teller Machines Teller services
round the clock
Cost beneficial than a brick & mortar
structure
Gradually banks have increased the number
of services almost any service including
sanctioning loan online
The PIN Personal Identification number acts
like the digital signature

Functions through ATM


Non financial

PIN change
Balance enquiry
Mini statement
Cheque book request

Financial
Cash withdrawal
Cash/cheque deposit
Funds Transfer

Value added

Mobile Recharge
Utility bill Payment
Buying MF
Charity & donations
Buying internet pack
Purchase of air tickets
Purchase of movie
tickets

Phone Banking
Almost all services except cash transaction

Banking at doorstep provided by secure means through


phone banking
Centralised place with core banking access representative
answer calls and ensure security of customers calling and
provide services cost is less branch less crowded
IVR interactive voice response automated guidance to
customer on various services

Service through phone


banking
Account Balance
Cheque status enquiry
Order cheque book/account statement
Stop Payment
Report loss of ATM/debit card
Loan related queries
Credit card related queries
Enquiry desk on banking products
Cash & Cheque pick up
Cash Delivery

Internet Banking

Services offered

POS Terminals

Flow of Transaction
Merchant swipes card and enters transaction amount
POS dials the switch of acquiring bank transmits details
of card & amount
If the card is issued by acquiring bank, switch will route
transaction to credit card or CBS
If card is issued by another bank system transmits
data to VISA/MASTER to which the card issuing bank is
affiliated
VISA/Master system will in turn route the transaction to
switch of issuing bank

Flow of Transaction
The issuing banks server will route it to
credit card or core banking server
The system will now check balance and
approve or reject the transaction
This message of approval or rejection will
travel back to the merchant terminal the
way it was routed
This amount will be paid to the merchant
after deducting interchange- next day

Mobile Banking
Mobile phones being messaging devices can be
used to do whatever a PC can do
SMS, GPRS and USSP platforms to offer mobile
banking
Application to encrypt downloaded on to
individual phones
Services can be availed will be encrypted,
decrypted at the user ends with all the
necessary security

Regulatory/Supervisory
issues
Banks licensed, supervised and has physical
presence in India can offer these services
Services which needs customers to be KYC/AML
compliant can be offered
Only Indian rupee based services to be offered
Banks can use business correspondents to extend
this facility
Limit of R 50000 per day

THANK YOU

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