Reserve Bank of India
06:52
Showing posts with label mobile app. Show all posts
Showing posts with label mobile app. Show all posts
Monday, 28 December 2020
Saturday, 4 January 2020
Thursday, 27 September 2018
Saturday, 15 April 2017
volume of transactions
13:08
Digital Payment Revolution : Facts & Figures
Digital Payment Revolution : Facts & Figures
Digital Payments Progress
·Lucky GrahakYojana and DigiDhanVyaparYojana launched on 25.12.2016
·100 Digi Dhan Melas held in 100 cities all over the country.
·100 day long information, education and communication campaign led by NITI Aayog to make digital payments a mass movement in India.
· At least 15,000 institutions have gone cashless across just these 100 rural and urban cities across each one of the 27 states and 7 UTs.
·With a turnout of over 15 lakh from cities, small towns and villages, the melas have enabled lakhs to open new bank accounts as well as create new Aadhaar cards.
·Rs.258 crore of prize money won by 16 lakh winners, including customers and merchants belonging to different corners of the country and from varied walks of life.
·The lucky winners of the Mega Draw felicitated by the Prime Minister in Nagpur.
·BHIM App and QR Codes launched
·BHIM App has already created a new world record by registering 1.9 crore downloads in just four months since its launch in December, 2016.
·India haso seen an unprecedented increase in number of transactions made using several user-friendly digital payment methods viz. UPI,USSD, AePS.
· Volume of all digital transactions increased by about 23 times with 63,80,000 digital transactions for a value of Rs. 2425 crore in March 2017 compared to 2,80,000 digital transactions worth Rs.101 crore till November 2016.
· Aadhaar Enabled Payments have increased from 2.5 crore in November 2016 to over 5 crore in March 2017.
. Immediate Payment Service (IMPS) transactions have also increased from 3.6 crore to 6.7 crore during the same period.
BHIM-Aadhaar, the merchant interface of the BHIM App
·It will pave the way for making digital payments by using the Aadhaar platform.
·Any Indian citizen can pay digitally using their biometric data like their thumb imprint on a merchants’ biometric enabled device which could be smart phone having a biometric reader.
·Any citizen without access to smart phones, internet, debit or credit cards will be able to transact digitally through the BHIM Aadhaar platform.
·Already, 27 major banks are now on board with 7.15 lakh merchants so that they can start accepting payments using BHIM Aadhaar.
ONBOARDING
·Total Onboarding (including syndicate update): 7.15 lakhs , Transactions: 12.62 lakh
·Aadhar:1.75 Lakh
·BHIM/UPI 4.79 lakh
·QR Code:1.68 lakh
BHIM – Cash back and Referral Bonus Schemes
·To ensure that the culture of digital payments permeates down to the grassroots.
·Under the Referral bonus scheme both the existing user who refers BHIM and the new user who adopts BHIM would get a cash bonus credited directly to their account.
· Under the Cashback scheme the merchants will get a cash back on every transaction using BHIM. Both schemes are to be administered by MEITY and implemented by NPCI.
·Outlay of Rs. 495 crore for a period of six months.
75 Townships declared Less Cash Townships
·In order to achieve the target of 2500 crore digital transactions during the current financial year, the Prime Minister announced about 75 townships spread all over India as ‘less-cash townships’.
· A less-cash township is one where the deployment of payment acceptance infrastructure is complete, all the families in the township are covered under training programs.
·Selected townships on the basis of third party assessment by Price Waterhouse Coopers (PWC)
·Townships with more than 80% of the total number of transactions being done through digital modes of payments during the review period are included in this list.
·These townships are likely to generate over 1.5 lakh digital transactions every day thereby leading to about 5.5 crore digital transactions in a year.
Source:PIBNEWS
Source:PIBNEWS
Friday, 24 March 2017
volume of transactions
16:01
South Indian Bank introduces Aadhar-based payment app
South Indian Bank introduces Aadhar-based payment app
KOCHI, MARCH 23:
To promote cashless digital transactions, South Indian Bank has introduced Aadhar-based payment in its UPI mobile application- SIB M-Pay.
Unified Payment Interface enables all bank account holders to send and receive money from their Smartphone without entering the bank account information. Even non-customers of South Indian Bank can link any of their bank account in this mobile application. Currently, the fund transfer is possible only if the Virtual Address (UPI ID) of the beneficiary is known to the user. With the latest addition in SIB M-Pay, the fund transfers can be done by just entering the Aadhar number of the beneficiary. The amount will be credited directly to the beneficiary’s Aadhar linked bank account. SIB M-Pay app is currently available in Android Playstore.
Aadhar based payment in South Indian Bank's SIB M-Pay will be a major step in offering simple and efficient payment methods, as the country moves towards a 'Cashless Society' and Aadhar ID plays a key role in Digital India initiatives, said V G Mathew, MD & CEO of the bank.
Source:The Hindu
Wednesday, 8 March 2017
State Bank of India
07:14
SBI launches ‘Work from Home’ facility for staff
SBI launches ‘Work from Home’ facility for staff
Mumbai: Country's largest lender State Bank of India on Tuesday launched a new facility to enable its employees to work from home. The Board of the bank has recently approved the 'Work from Home' policy to enable its employees to work while at home using mobile devices to address any urgent requirement they may have, that prevents their travelling to work. The lender will be using mobile computing technologies and shall have continuous control over all the enabled devices centrally to manage and secure the data and applications on the mobile devices, the bank said in a statement here today. The use of technology and services shall be monitored through carefully designed MIS and dashboard to enable improvements and refinements, it said. The bank said going forward cross-sell, marketing, CRM, social media management, settlement & reconciliation, complaints management applications will also be enabled to make the work from home services comprehensive and increase the employee productivity multi-fold.
Source:Tribuneindia
Friday, 10 February 2017
Union Bank of India
08:04
NPCI expects all public sector banks to join BHIM by February-end
NPCI expects all public sector banks to join BHIM by February-end
New Delhi: With the aim to scale up the usage of Bharat Interface for Money or BHIM, the National Payments Corp. of India (NPCI) is working to ensure that all the public sector banks (PSBs) are integrated to the app by the end of this month.
“The PSBs which will go live very soon on the platform are Corporation Bank, Punjab and Sindh Bank and five associates of State Bank of India. We are working with these seven banks to ensure that all of them are a part of the platform by the end of this month,” said A. P. Hota, managing director & chief executive officer, NPCI, in a statement.
Currently, 37 banks are already integrated to BHIM including PSBs like State Bank of India, Bank of India, Bank of Baroda and Union Bank of India. With the seven banks joining the platform very soon, all the PSBs will be a part of BHIM’s interface.
“Since the customer base of PSBs is very large, their participation in BHIM is of crucial importance for the success of this app. We are confident that once all PSBs are a part of BHIM, the user base will jump multiple times,” said Hota.
The app was launched on December 30 by Prime Minister Narendra Modi to promote digital transactions using the Unified Payments Interface (UPI), a bank-to-bank fund transfer system backed by internet and smartphones, using phone numbers linked to banks.
According to NPCI, till 31 January, 13.8 million customers downloaded the app out of which 3.6 million customers have linked the app to their bank account.
“The gap in the number of app downloads and the number of customers linking the app to their bank account has been because it is observed that most of these customers have downloaded BHIM without checking if their bank is active on the platform,” the statement added.
Last month, a new version 1.2 was launched with additional features like ‘Pay to Aadhaar Number’, and spam report’. The new version also has seven new languages apart from English and Hindi.
Source:BusinessFortnight
Source:BusinessFortnight
Monday, 30 January 2017
volume of transactions
07:33
State Bank Of India Mobile Wallet App -"Buddy" FAQ
State Bank Of India Mobile Wallet App -"Buddy" FAQ
What is Buddy Mobile Wallet?
State Bank Buddy is State Bank of India's mobile wallet on your smartphone. It is a semi-closed prepaid wallet which can be used to transfer money to other wallet users and bank accounts, anytime, anywhere.
What are the features on the State Bank Buddy mobile app?
The following services will be available on State Bank Buddy mobile app.
Send Money
View Your Statements
Personalize your Buddy
Prepaid Mobile Recharge & DTH
Pay Your Bills
Book Movie Tickets
Online Merchant Payments
How do I download the mobile wallet app?
You can visit the Apple App store or Google Play store depending on your phone and search for State Bank Buddy by using the keyword "State Bank". You can click on install and download the app.You can also,give missed call on 09021122222 and will receive a link via sms to download State Bank Buddy
How do I access my app after downloading it from the app store?
You will need an active internet service (2G / 3G / 4G / Wi-Fi) to use State Bank Buddy.
Do I need a minimum eligibility to register for the services?
If you are an Indian national having a mobile number and above the age of 10 Years, then you are eligible to download and use the State Bank Buddy services
How do I register for Buddy?
You can sign up/register with following options -
a) Facebook (Username & Password)
b) Sign Up (Mobile Number (mandatory), email ID (optional) & PIN/Password)
To sign up, you need to do the following -
a) If you select Facebook Sign Up option, then you will be directed to the authentication page of Facebook Connect service. You will have to enter your Facebook username and password or if Facebook account is pre-integrated then you will be asked to allow permission to access the credentials to proceed with sign up for the mWallet service.
b) If you select sign up option, then you will have to enter mobile number (mandatory) and email (mandatory)
c) After successful validation by Facebook Connect service or sign up, you will be displayed the mobile number or you will have to enter mobile number (for Facebook Connect option).
d) You have to set up PIN for accessing mWallet service & authenticating transactions going forward.
e) Simultaneously, you will get a welcome message with OTP on mobile as SMS and to the email ID, if provided.
f) You have to enter the OTP, select a Security Question from the dropdown and type your answer as prompted & submit the request.
g) g.You will be allowed 3 attempt to enter the correct OTP. After every wrong attempt, a message will be shown 'Incorrect OTP. Please enter the correct OTP.' Post 3 wrong attempt, message will be shown 'Please regenerate OTP using ‘Resend OTP’ option.'
h) If OTP is not received by you, then use the 'Resend OTP' link to resend the OTP to your mobile number.
i) Upon successful registration, you will be registered for State Bank Buddy. A success message will be sent on your mobile and/or email.
Is there any charge for registering on Buddy?
Currently, Buddy is a free app, there are no charge for registration of the app. However, since the app uses internet services, the charges for internet data as charged by your mobile operator will apply.
Is OTP mandatory for registering for State Bank Buddy?
OTP is a mandatory requirement for registration of State Bank Buddy.
I didn't receive any OTP, how do I create my account?
Click on "Resend OTP" on the screen where you have to enter the OTP.
I have entered wrong OTP. What do I do now?
You will be allowed 3 attempt to enter the correct OTP. After that you will have to regenerate OTP using 'Resend OTP' option.
I downloaded the app and registered successfully, but I could not login to the app and was given an error.
Please re-try logging in after some time. You can login with the same user id & password which you created by tapping on the 'Login' in the app.
The app allows to login using Facebook. Is this safe?
By using the Facebook credentials, we are only prefilling your details in the State Bank Buddy wallet creation form as per your Facebook profile. The application is hosted on the secure environment of SBI and is extremely safe.
I am trying to launch the app after downloading it from the Play Store / Apple App Store, however the app is not launching or crashes frequently. What do I do now?
If your app unexpectedly quits, stops responding or won't open, then try the following:
Close the app and restart it again
Kill all running apps and try restarting again
Turn off your device and switch it on. Then try to launch the app
Make sure you are using the latest version of the app
Delete and reinstall the app
Make sure you have a working data plan on your carrier's network or Wi-Fi connection
I am trying to create my Pin, however the app is not allowing me to do the same. What do I do now?
If the PIN is not being accepted by the system, please check for the following and try again
Sequential number: For e.g. 1234 or 6789 are not allowed
Repetitive: For e.g. 1111 or 7777 are not allowed
The app says invalid password. How do I login now?
If you're seeing an error saying your password is incorrect and you're sure you're entering the right password:
Make sure that your caps lock key is turned off
Try upgrading your browser and reset your password
Try a different web browser
Source:SBI
Saturday, 14 January 2017
wallet business
17:23
MobiKwik App Now Available in 5 More Regional Languages
MobiKwik App Now Available in 5 More Regional Languages
Domestic mobile wallet major MobiKwik on Thursday launched five more regional language versions of its mobile app for its users.
“We have launched further regional versions of our app in Bengali, Odia, Punjabi, Tamil and Telugu languages. This move will further promote the adoption of digital wallet payments in rural India,” said Upasana Taku, Co-Founder, MobiKwik, in a statement.
The app is now available in eight languages – English, Hindi, Gujarati, Bengali, Odia, Punjabi, Tamil and Telugu – on the app’s lighter variant MobiKwik Lite.
MobiKwik has also received the Bharat Bill Payment License with which, the company will be powering payments for all utility and convenience bills across India.
Earlier this week, the company announced zero surcharge on all transactions at petrol pumps and LPG gas payments.
“The announcement of zero surcharge on all petrol pumps and LPG transactions will benefit consumers and will motivate them to continue using digital payments,” said Upasana Taku, Co-founder of MobiKwik, in a statement.
MobiKwik is currently accepted across petrol pumps and gas stations in 20 cities that includes all major Indian Oil, Hindustan Petroleum and Bharat Petroleum pumps in Delhi-NCR, Mumbai and Hyderabad, among others.
The company also powers digital payments for LPG companies like Indane, Bharat Gas and HP. MobiKwik has also launched a lighter version of its app named MobiKwik Lite in Hindi, English and Gujarati for tier 2 and tier 3 cities across India.
Source:BusinessFortnight
Thursday, 5 January 2017
volume of transactions
06:55
BHIM App, Launched by PM Modi, Explained in 10 Points
BHIM App,
Launched by PM Modi, Explained in 10 Points
HIGHLIGHTS
- PM
Modi launched the Bhim app today for simpler payments without cash
- Through
the app, you can make payments using just a phone number
- BHIM
also supports USSD payments, which work even on basic phones
Prime
Minister Narendra Modi today launched BHIM, described by him as a brand-new app
that will amount to “a world wonder.” BHIM - Bharat Interface for Money - is
named for Dr BR Ambedkar, said the PM, and is positioned to play a big role in
the government’s push for digital transactions.
"Be
it a smartphone or a feature phone of Rs 1,000-1,200, BHIM app can be used.
There is no need to have Internet connectivity," says PM Modi. "One
only needs a thumb. There was a time when an illiterate was called 'angutha
chhaap'. That has changed. Your thumb is your bank now.”
BHIM
allows customers to transact electronically without having to use a credit or
debit card, or by creating and storing a mobile wallet.
Here is your 10-point guide to BHIM:
- The app allows you to easily transfer money or make a payment from your bank account using only your phone number. If the shopkeeper uses the BHIM app too, just open the app, choose “send money”, and type in the amount and the merchant's phone number to make the payment. The money will be debited from your account, and credited to the merchant's bank account which are linked by you and the vendor to the BHIM app.
- BHIM is now available as an Android version download now, and iOS is coming soon.
- The app also allows you to scan a QR code. The merchant can generate his QR code through the BHIM app. To pay him, you'd need to tap the Scan and Pay button in the app, and then scan the QR code.
- Even without a smartphone, anyone can use BHIM to make payments.You need to dial *99# from any kind of mobile phone, and this will show a menu - by typing in different numbers you can choose to send money, check your balance, or see transaction history.
- To send money, for example, you'd type '1' and hit send, then type '1' again to select mobile number. Next, you'd type in the number and the amount, and then a PIN that can be generated using BHIM. This will work on any phone - even Rs. 1,000 feature phones - without an Internet connection.
- Shopkeepers can use the BHIM app and receive money from a smartphone, or if the customer has linked a bank account and her Aadhaar ID, then the merchant can use Aadhaar Pay, an app that was soft-launched days ago. For this, the merchant has to have a smartphone (even a basic Android phone will do) and a Rs. 2,000 fingerprint reader. This is currently being distributed free in Aadhaar Payments pilot projects around the country.
- On the shopkeeper's phone, the customer types in her Aadhaar number and chooses her bank. Then, the shopkeeper uses the fingerprint reader for instant confirmation to complete the payment. The customer don't need to carry her Aadhar card, or use a phone, only the merchant needs these.
- With a mobile wallet app, you have to load money in the wallet before you can use it. With BHIM and all UPI (United Payments Interface) apps, you can directly connect your phone to your bank account - like a debit card. Payments are happening directly from and to bank accounts, so merchants don't have to worry about transferring wallet earnings to the bank either.
- There is a Rs. 10,000 per transaction limit, and Rs. 20,000 per day for BHIM.
- All UPI-connected banks accept BHIM - this includes all major Indian banks including SBI, ICICI, Axis, and HDFC. Even banks not connected to UPI can receive money through BHIM through IFSC, an 11-digit code assigned to every bank branch by the Reserve Bank of India.
Source:Gadget360
Sunday, 28 August 2016
volume of transactions
16:20
UPI Goes Live: Here Is Your 10-Point Guide To Get Started
UPI Goes Live: Here Is Your 10-Point Guide To Get Started
Here Is A 10-Point Cheat-Sheet
- The UPI app offers the facility to identify a bank customer with an email-like virtual address. Since bank account details are not given in this virtual address, the customer can freely share the UPI financial address with others. Users need to download the app and register before using it.
- A customer, for example, can also decide to use a mobile number or a short name for the virtual address such as XYZ@icici or 123456789@axis
- The UPI app allows a customer to have multiple virtual addresses for multiple accounts in various banks.
- For making payment, the transaction will be complete once the customer authenticates the transaction through a secure PIN.
- The other benefits of this mobile payment mechanism include its round-the-clock availability and faster checkout.
- One can use the UPI app instead of paying cash on delivery (COD) on receipt of product from online shopping websites, and can pay for miscellaneous expenses like utility bills, over the counter payments and school fees.
- The Unified Payments Interface is an advanced version of the existing payment system IMPS, which offers instant 24X7 interbank electronic fund transfers across India through mobile, internet and ATMs.
- National Payments Corporation of India said the UPI app will be available in next two to three working days for the customers to download and start using.
- Andhra Bank, Axis Bank, Bank of Maharashtra, Canara Bank, DCB Bank, Federal Bank, ICICI Bank, Oriental Bank of Commerce, Karnataka Bank, UCO Bank, Union Bank of India, United Bank of India, Punjab National Bank are some of the banks that have joined the UPI platform.
- Infosys co-founder Nandan Nilekani has been an adviser to NPCI on the UPI project. Reserve Bank of India Governor Raghuram Rajan in April this year had soft-launched the new payment mechanism and it has been on a pilot run since then.
Source:NDTV
Wednesday, 3 August 2016
volume of transactions
07:58
Banks eager to help you beam money to friends faster
Banks eager to help you beam money to friends faster
The U.S. banking system lags behind places like Europe when it comes to instant person-to-person payments. But a number of big financial institutions are now trying to get in the game.
Some banks in the digital payments network called clearXchange are now allowing customers to send and receive money instantly to customers of participating banks using just a mobile number or email address.
The exchange is owned by Bank of America, BB&T, Capital One, Chase, PNC, U.S. Bank and Wells Fargo. They're competing with scrappier players like Venmo and Square Cash, which are becoming popular apps for beaming payments to friends and family.
Wells Fargo, one of the clearXchange participants, has allowed peer-to-peer payments for a few years but just launched the "real-time" capability for them Monday.
“If you're splitting a dinner check or paying a babysitter and you don't have cash or don't want to use cash, real-time fund availability just takes the money from one account and puts it in another account within a couple minutes,” said Wells Fargo spokesman Kris Dahl.
With an app like Venmo, the money may not get to your bank account for a day or two. However, Venmo is really popular among millennials. And banks want millennials' business.
Jim Sinegal, an analyst at Morningstar, said the instant peer-to-peer payments alone won't be especially lucrative for banks. But they serve a strategic purpose.
“The idea is that it's a gateway for the more profitable payment transactions: from consumer to merchant, from government to consumer," he said.
A potential disadvantage for banks, though, is that their apps might not be as easy and fun to use as some of the tech companies’ apps are, according to Talie Baker, an analyst at Aite Group.
An app like Wells Fargo’s requires extra steps, such as logging into the mobile app with your bank account and password, assuming you don't have an iPhone with thumbprint identification. Then you have to click through a few additional options before finding the one to “send money now.”
“I think that's the hurdle for banks right now—them being able to make their apps as frictionless and have that cool appeal,” said Baker. “Because Venmo is really cool.”
Source:Market Place
Monday, 18 July 2016
PFRDA
21:49
National Pension System Mobile App-NPS App
National Pension System Mobile App-NPS App
Pension Fund Regulatory and Development Authority (PFRDA) has introduced new features for
the benefit of National Pension System (NPS) subscribers, including an mobile app.
According to the statement, through the mobile app, ‘NPS by NSDL e-Gov’, subscribers can raise a request for transaction statement for a particular financial year that will be sent to the registered mail ID at end of the day.
Now, the NPS subscribers can view his/her NPS account, latest details of scheme wise units along with latest NAV and the total value of the schemes, details of the last five contributions credited, can change contact details (Telephone/Mobile no/Email ID), change password/security Question add/modify his/her password and set security question (for password reset) through Mobile App, it added.
×The subscribers also can now update/modify their address on their own using Aadhaar based authentication.
The statement said a subscriber whose bank has not confirmed (rejected) his/her KYC verification request can now update the address details and confirm KYC using Aadhaar based authentication.
Besides, the eNPS subscribers can now access the Central Recordkeeping Agency (CRA) system immediately after registering without waiting for physical I-PIN to be dispatched.
Currently, NPS has over 1.13 crore subscribers with total asset under management of more than Rs 1.08 lakh crore.
PFRDA is mandated to promote old-age income security and has been entrusted with the responsibility to regulate, promote and ensure orderly growth of NPS and other pension schemes not regulated under any other enactment.
Mobile app is now available in Google Play store.
Source:Indian Bank Kumar
Sunday, 3 July 2016
Sunday, 8 May 2016
mobile app
17:44
Bank of America Updates App with Check Order Options
Bank of America Updates App with Check Order Options
It seems that banks have been busy updating their mobile apps with check features in the past week, despite the fact that checks have been declining in popularity in recent years.
Bank of America now allows customers to order checks through its mobile app, “thanks to all the great feedback and feature requests,” the company said. Additionally, customers can now view BofA’s catalog of check styles (Hello Kitty is an option) and accessories — such as registers, checkbook covers, debit card holders, stamps, and even calculators — and order those through the app. If you are feeling particularly creative, BofAs checks are fully customizable. The app update, version 6.6.8, was posted on the iTunes app store yesterday.
Another bank, BBVA Compass, released a different check feature this week, allowing customers to deposit multiple checks at once through the app.
Both BofA and BBVA’s check features indicate that neither customers nor banks are ready to completely part ways with paper slips. Instead, digitally-driven FIs find ways to utilize check features and drive traffic to their mobile apps, and away from ATMs.
Bank of America increased its mobile userbase by 14.6% year over year, reaching 19.6 million in the first quarter.
Source:Bank Innovation.net
Monday, 4 April 2016
State Bank of India
07:46
SBI makes it easy with 'State Bank of India NO Queue' app
SBI makes it easy with 'State Bank of India NO Queue' app
The country's largest lender, SBI, has launched a virtual queuing mobile application that will help customers save on time.
State Bank of India launched 'State Bank of India NO Queue' mobile application to save the valuable time of its esteemed customers for availing of banking services, SBI said in a release on Saturday.
"The application is a mobile-based virtual queuing application for customers to book an instant queue ticket for select services at select branches. Based on the services selected, the list of branches with addresses providing those services within a configured radius of 15 kms will be populated in the application," it said.
The application, which can be downloaded from Google Play and Apple app stores, was launched by SBI Chairman Arundhati Bhattacharya in Mumbai.
By this app, customers can view details such as expected waiting time at a given branch, the number of customers waiting and distance to the branch from the point of booking, said the release.
Once the customer reaches the branch, he has to activate his Q-ticket and will be serviced immediately, thus avoiding waiting time at the branch, SBI explained.
"The application is designed to save customers' valuable time, avoid queue for banking services and aims to provide the customers with a better customer service experience," it added.
Source:BankingUpdates
Source:BankingUpdates
Saturday, 20 February 2016
mobile app
17:49
ICICI Bank launches virtual mobile app development challenge
ICICI Bank launches virtual mobile app development challenge
ICICI Bank has launched a virtual mobile app development challenge, 'ICICI Appathon', to attract developers, technology companies, start-ups, technopreneurs and students to create the next generation of banking applications on mobile.
According to an official statement, the Appathon will be hosted on the IBM Bluemix cloud-based platform. It will offer over 50 APIs (Application Programme Interface) from ICICI Bank and its group companies namely ICICI Prudential Life Insurance, ICICI Lombard General Insurance and ICICI Securities. As a first, payment APIs from 'Visa' and the 'Unified Payment Interface' API from NPCI will also be available for the app development challenge. Visa and NPCI are the partners of the Appathon.
Using these APIs, participants will have to create innovative working prototypes of mobile applications that provide a superior customer experience.
The statement quoting Chanda Kochhar, MD & CEO, ICICI Bank said, “ICICI Appathon will allow us to foster innovation and tap into the minds of the most innovative developers. With India being among the top three Internet users in the world, mobile banking is witnessing an exponential growth. It is also bringing about a shift in consumer preference wherein they want innovative solutions on the go. Through the ICICI Appathon, we want to broad-base and leverage on the innovative ideas and the talent in our developers, technopreneurs and technology start-ups. We believe such programmes will encourage young developers to create world-class banking applications on mobile and will strengthen the Government's 'Digital India' mission. We hope to get ideas for some exceptional apps at the end of this development challenge.”
Freelance developers, technology enthusiasts working in companies, start-ups and students from the technology space can participate in the Appathon in the following way:
Registration: Participants can register on www.iciciappathon.com from February 16 to March 1, 2016. The names of the shortlisted candidates will be announced on March 4, 2016. They will be given access to the APIs hosted on the IBM Bluemix platform on March 5, 2016
Development: Participants will have to create minimum one innovative working prototype using the virtual banking and financial services APIs. These need to be submitted by March 27, 2016
Evaluation: Finalists will be announced on April 7, 2016. They will be invited to the ICICI Bank headquarters in Mumbai to compete in the Grand Finale in mid of April 2016
Three ICICI Appathon champions will be selected by a jury of eminent leaders from the BFSI segment and start-ups. All participants will be judged on five criteria, namely, uniqueness, functionality, business potential, user experience and scalability.
The top three winners will be given prizes from a pool of over Rs 20 lakh along with a potential engagement opportunity with ICICI Bank. They will also have the chance to be mentored by the event partners. Additionally, winners of the Appathon who apply to the '10,000 Startups' of Nasscom will get fast-tracked entry into it. Two members of the winning team will also have access to the network and co-working community of 91springboard (a co-working community of freelancers, start-ups and established small to large businesses) across India.
Technical queries on the ICICI Appathon can be directed to developer@iciciappathon.com. Candidates can also contact the support team on:+91-80-495-36-832
Wednesday, 13 January 2016
SBI
04:53
SBI, Axis Bank wallet apps hacked to siphon off crores
SBI, Axis Bank wallet apps hacked to siphon off crores
BENGALURU: City's cyber-crime police attached to the Criminal Investigation Department (CID) have arrested seven persons including a deputy manager with Axis bank's Peddapalli branch (Kareemnagar, Telangana) for allegedly hacking the wallet apps of Axis bank
Niranjan Reddy, deputy manager of Axis bank, 30, G Veerabrahmam, 23, CK Ramana, 27, Nageshwara Reddy, all from Kareemnagar and CS Kiran, 33, CS Padmaja, 35, and N Ramesh, 30, from Srinivasapura, Kolar.
Last year, many Axis bank account holders, mainly from Mysore and Tumakuru in Karnataka, had filed police complaints reporting loss of cash from their accounts.
The case was transferred to the Cyber crime wing of the CID last year. The team finally zeroed in on the accused after tracking their mobile, internet and other devices.
According to police, Nageshwara Reddy along with Veerabrahmam, had obtained duplicate SIM cards of complainant's registered mobile number with the bank, from Vodafone, BSNL, Aircel and other stores across the state, by submitting fake documents and also changed the plan from prepaid to postpaid. Later, the accused transferred the amount to different mobile numbers using mobile banking and the LIME wallet options of Axis bank and later withdrew the amount from Axis bank ATMs.
Ramesh, Kiran and Padmaraj helped Nageshwara Reddy and his accomplices in obtaining more than 100 fake SIM cards, which were used in committing the crime, the police said.
The mobile services providers issued duplicate sim cards without proper verification of the original user. Reliance has allegedly provided more than 100 SIM cards to the accused, the police said. Following the complaints, Axis Bank has stopped operating its LIME application.
CID IGP Hemanth Nimbalkar said that a special cyber police team has been formed to investigate into the matter. "CID-Dy SP MD Sharath and his team tracked the internet path used by the miscreants to hack the bank accounts. Using the duplicate SIM cards, the accused got new OTP (One Time Password) of nine customers from Karnataka and siphoned around Rs 25 lakhs from their accounts. We suspect that the gang has conned more victims and are continuing the investigation," he added.
Source:The Economic Times
Monday, 28 December 2015
whatsApp
12:50
Product crack: State Bank of India's Samadhaan app
Product crack: State Bank of India's Samadhaan app
This week, State Bank of India (SBI), the country’s largest lender, launched a mobile app, State Bank Samadhaan, for its customers. The app provides customers with information on various products such as deposits, advances, and tax related details. It also comes with an equated monthly instalment (EMI) calculator.
HOW DOES IT WORK?
Currently, the app is available only for Android users and can be downloaded from the Google Play Store. The bank is planning to develop it for iOS users as well. Once installed, you can start using the app directly. On the home page, you will get 12 options, which include deposits, advance, ATM, tax and complaints. This app doesn’t allow you to do any financial transactions and can only be used to get information. For instance, by clicking on the deposit option, you will be taken to a page with details about the bank’s interest rates, an FAQ section and videos. You can also share this information with your contacts on WhatsApp. The app allows you to request for bank documents such as account statement. Those who have housing and educational loans can ask for interest certificates. Once you send a request through the app, the documents will be sent instantly to your registered email address. You can even look for an SBI branch from the app. If you have a complaint, you can upload it on the app and track it as well.
When Mint tried the app, most of the features such as information on interest rate of deposits and advances were not available or the request didn’t go through. However, some basic features such as EMI calculator and the option to share information went through instantly .
OTHER SBI APPS
So far, SBI has launched at least six financial and non-financial apps with various features. The State Bank Buddy, State Bank Anywhere and State Bank Freedom allow you to carry out financial transactions, and SBI Quick and State Bank Samadhaan allow only non-financial transactions. The Anywhere mobile app lets a user do Net banking transactions. You can transfer funds, make bill payments, book a fixed deposit, and view bank account details.
State Bank Buddy is a mobile wallet, which can be used by the bank’s as well as other customers. Once you download the app, you have to register and then load money into the wallet. You can then start using it to send money to those in your contact list.
The SBI Quick app is basically missed call banking. It allows you to give missed calls or send an SMS with pre-defined keywords, to pre-defined mobile phone numbers to make balance enquiries, get account mini-statements, block ATM card, and also enquire about car and home loans. The service is currently free of charge, but available only to some of the bank’s customers.
State Bank Freedom app allows balance enquiries and money transfer. State Bank Secure OTP is a one-time password (OTP) generation app for verifying transactions. This is an alternative way to getting an OTP on the app instead of through an SMS.
Source:BankingUpdates
Sunday, 27 December 2015
new Technologies
09:40
How technology will transform banking in 2016: Blockchain, digital challengers and IoT
How technology will transform banking in 2016: Blockchain, digital challengers and IoT
But the competitive landscape has intensified as they continue to fight on a number of fronts, and the wave of fintech startups, digital challengers and tech giants present a threat that is unlikely to go away soon.
At the same time, a wave of innovation in the sector offers a number of opportunities for those that are able to move quickly. Blockchain has certainly been the clearest example this year.
So what will set the banking technology agenda in 2016?
Banks will come under increased pressure from tech giants
It is no secret that a major concern for the big banks is having their lunch eaten by the likes of Apple, Google, Facebook and Amazon. And we can expect these internet behemoths to build on their consumer relationships and make further inroads into payments next year.
Apple launched its Apple Pay mobile payments service this year, and others such as Samsung are set to move into the market with similar offerings too. While Barclays has its own wallet, Pingit, it will be interesting to see if other banks attempt to stake a claim in this market too, or leave it to the big tech firms.
