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Topic : Innovations in Banking Industry !!!
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Started by : Rashmi Patil, Financial services   01 29 2010 10:40:02 +0000
Industry : BankingFunctional Area : Product Development(Operations)
Activity:  78 views;  last activity : 07 06 2010 20:18:09 +0000

Most commercial banks are finding ways to increase revenue by performing value-added services. These innovations require the corresponding banking channels to be transformed. Internet banking is quite important to commercial banks' channel transformation. Yet, Internet banking faces the obstacles of insufficient personalization, limited integration with marketing, poor user experience etc. Keeping this in mind, What should be the features of next-generation Internet banking?

 
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1 2 3 4 5
1 Web 2.0 features, Behaviour Analysis, RIA GUI
2 Personalized and customized Internet banking
3 Easy usability
4 Accessibility support
5 Hassle free, secured, 24x7 services & value addition
6 Transparency
7 ATM use many times and Account accessibility from any bank
8 a

Web 2.0 features, Behaviour Analysis, RIA GUI

idea posted by Nitin Phansalkar Owner, SMEfocus Solutions

Blogs, chats, customer involvement, Spending pattern derived from the Account Transaction, Smart tips to save money depending upon the spending pattern etc.

-Nitin.

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I agree with your view, social networking is the way going forward for the banks. That will be the new channel for customers.

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by Nitin Phansalkar, Owner, SMEfocus Solutions  | 01 29 2010 13:17:48 +0000

take a look at www.ubank.com.au. It's a hybrid between an Internet Banking and Social Networking site. Incidently, I was the Project Manager for this project when I was in Oracle.

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Personalized and customized Internet banking

idea posted by Rashmi Patil Financial services

The next generation of Internet banking based on Web should fully exhibit the idea of "people-orientation." For different customers, different personalized Internet banking transaction and marketing platforms should be displayed. Customers should be able to freely customize the information and financial services that interest them. With a customer's personalized Internet banking layout, banks can also know clearly the potential demands to achieve cross-channel selling and realize target marketing and customer-oriented marketing.

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Easy usability

idea posted by Rashmi Chawla Cust. Service Manager, Leading Bank

In my opinion, there is poor user experience because Internet banking is unmanned and customers encounter problems easily. The next-generation Internet banking should support personalization and block the services that customers may not be interested in. If the Internet banking interface provide a functions similar to the desktop operating system, it could enable more users to use Internet banking conveniently.

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Accessibility support

idea posted by Rajyalakshmi K Accounts Manager, Standard Chartered

I have seen some customers of Internet banking who have disabilities, such as color weakness or color blindness. Even there, the number of users with accessibility requirements for using Web-based applications are increasing. The next-generation Internet banking which is web based should provide accessibility support for them also, including full keyboard operation, a screen reader, and so on.

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by Abhijeet Magdum, Business Analyst, ING Vysya Bank  | 03 12 2010 17:18:56 +0000

Yes, absolutely right. Banks need to be humane and look at financial inclusion of differently-abled people. Whether it is internet banking, mobile banking or ATM. Even RBI is quite serious about it. Refer http://www.rbi.org.in/commonman/English/scripts/Notification.aspx?Id=356

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Hassle free, secured, 24x7 services & value addition

idea posted by ASOKE KUSARI Domestic Private Banking-Executive/Manager, A large leading PSU Bank - India

Next generation Internet banking should be hassle free, be secured, available 24 x 7 with more and more value additions. This may not end and constant innovation is the key.

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Transparency

idea posted by Ravinder Pundir Sr. Consultant/Business Analyst, Cisco Systems

I think wht is most important for the next generation internet banking is the way how the banking sectors are running the business by keeping their customers informed about various things.

Wht I feel is still the banking sectors in India is lacking the transparency when to comes to informing its customer on time , about the various products and services , different charges , txes etc....they are very smart & prompt in selling the product & service but hardly take any initiative to make their customer WOW....

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ATM use many times and Account accessibility from any bank

idea posted by ROHIT ARORA MANAGEMENT TRAINEE, KELLY SERVICES INDIA PRIVATE LTD

Next banking generation I think it is must that

"any customer can access their account from any bank and he/she can deposit and withdraw their money from any bank."

and other is use of ATM should not be restricted.

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idea posted by ROHIT ARORA MANAGEMENT TRAINEE, KELLY SERVICES INDIA PRIVATE LTD

Next banking generation I think it is must that

"any customer can access their account from any bank and he/she can deposit and withdraw their money from any bank."

and other is use of ATM should not be restricted.

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