Mr. V. Srinivasan observes that the question is no longer whether ‘Paperless’ is needed or not, but rather, what will be the time frame for societal paperless transformation
For the last several years, banking has been evolving in India from physical operations to paperless mobile interactions in an increasing number of departments allowing customers to access relevant systems through multiple Digital Identification methodologies like user ID, password, secure tokens, digital signatures, etc. However, a lot of these processes still involve paperwork and signatures which often act as an impediment to the progress towards Digital Banking. When we further put this in context of the Bank’s own back-end processes, one can imagine the magnitude of cost and efficiency savings that can be achieved, especially considering that an average bank may have anywhere from 300-700 forms that need signatures!
The value of leveraging digital signatures (or eSign) to go paperless has never hit home harder than during the past few months of lockdown. Mr. V. Srinivasan, Founder & Chairman of eMudhra, explains: “The global pandemic has taught us that going paperless is more than just being about efficiency and cost savings. It is a critical Business Continuity requirement that is instrumental in protecting enterprises from unforeseen scenarios like COVID 19. The good news is, technologies and legislation are already in place to propagate the progress towards a paperless society.”
THE IMPETUS
Diese Geschichte stammt aus der June 2020-Ausgabe von Banking Frontiers.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der June 2020-Ausgabe von Banking Frontiers.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
It's a bank and a brokerage - FinecoBank
FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:
A model for cloud adoption - Zurich Cantonal Bank
The bank is had opted for cloud to offer better service to its customers:
RBI Governor urges NBFCs to adhere to fair practices code
The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.
Automated, Adaptive, Al-enabled Architecture is a must
Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:
Fraudsters too gain ground as real-time payment systems grow
There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.
Fino sparkles with technology & brand upshift
Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.
Savington Upshifts: 48% Faster, Churn down 31%
Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.
Zoroastrian Bank: Multiple awards for being the Best
Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.