Month: March 2019

Become Educated About Breeze Mobile Banking

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When Standard Chartered Bank decided to develop a unique mobile banking solution, which would ultimately be named Breeze, they took a very different approach into the design and development. For starters, instead of offering their customers the same features and functionality seen with other mobile banking solutions, a tremendous amount of research was conducted directly with the customers. With this, bank officials were able to capture the essence of what customers wanted to see in a mobile banking application.

Beyond that, officials with Standard Chartered Bank realized that other online and mobile banking solutions simply did not provide the type and degree of security needed to keep information online safe. Obviously, if this bank was going to launch Breeze as a comprehensive solution, it had to be designed for the people and by the people, but the bank needed to put additional or different security measures in place so all personal and financial information would be protected.

Well, changes are already being seen in a new version of Breeze being called Typhoon. Standard Chartered Bank wants to be careful as they move forward with mobile banking, knowing they will continue to provide customers with the functionality and features needed to conduct personal and business banking but they also want to choose the timing for offering new versions carefully.

Additional information is important to understand, helping financial institutions identify the areas in which their system is weak. As an example, the amount of money allotted to IT departments for overall operations includes less than 5% being spent on training for security awareness. Additionally, of companies interviewed, as much as 90% stated the company had some type of computer security incident within the past 12-month period.

Because information such as this is easy to come by, it should be used by all businesses with online presence, especially for financial institutions. If more banks would conduct research and put appropriate security measures in place, incidences of cybercrime would decrease. For the people at Standard Chartered Bank, they wanted to make sure that when their mobile banking application was used on the iPhone, and soon the iPad, customers would have peace of mind knowing their information is protected. The way this was accomplished was to implement a type of second-tier protection.

The second change seen with the newer version of Breeze is that mortgage accounts, investments, and other loans can be viewed. The first version of Breeze was excellent but accountholders were not able to access accounts such as these. Now, the Typhoon version of mobile banking will be more liberal, providing the opportunity for customers to confirm the receipt of payments, changes in interest, current balances, and more.

The new version of Breeze will have another feature, allowing credit cards for paying bills. The first version was relatively flexible in this area but again, some limitations existed that have now been enhanced. The final change seen in the new version of Breeze is that customers can request to have the second, temporary password sent via SMS to the iPhone resent.

Initially, this second PIN was initiated once the bank customer logged into the Standard Chartered Bank website with the standard user name and password. From there, the customer would wait for the SMS to be received, at which time he or she would return to the site, enter the second password, and then have account access. With this change, if a customer were to log off only to remember another task needing to be done, rather than go through the entire process again, a request could be sent via Breeze on the iPhone, at which time the bank’s system would initiate a different temporary PIN. As time passes, more changes will be seen with Breeze, something of which bank customers are excited.

Banking Interview Questions – What Not To Do

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Banking is one of the most challenging industries in which to get hired. The number of applicants for each vacant position can be as high as 100-to-1. The worst thing a potential applicant can do is to make mistakes in answering banking interview questions. Here are some examples of what you do not want to do when you are interviewing for a banking position.

Lack of enthusiasm

Most interviewers will form an impression of you within the first 60 seconds based on how you act and what you say. If you fail to show interest in the position, the company will pass on hiring you. A successful applicant will show enthusiasm for their accomplishments and be able to clearly articulate how they will benefit the company. If you are unable to enthusiastically sell yourself during the interview, how do you expect to sell anything to your bank’s customers?

Dress inappropriately

I once interviewed a person for a banking position that showed up for the interview wearing shorts and flip flops. I asked him if he thought bankers wore this type of attire in their position. His response was that he thought this interview was casual and that is why he dressed the way he did. Always dress more conservatively than the position requires. You do not want to damage your chance of getting a job by dressing inappropriately.

Inefficient knowledge of key job requirements

You may expect the position you are interviewing for includes extensive interaction with bank clients during golf outings, sporting events or dinner. If your expectations for the job are way off then the company will reject your application. If your job routinely requires 80+ hour work weeks then do not ask if you can work only 50 hours.

Ringing cell phone

You should never bring a cell phone to an interview. If you must bring your cell phone, make sure to turn off the ringer before the interview starts. Nothing is more disrespectful to an interviewer than to have a cell phone ring in the middle of an interview. If it does ring, DO NOT ANSWER the phone!

Talking Negatively

If you had a conflict in your current or previous position, do not talk negatively about the issue. Companies do not want employees who are going to be negative because this impacts team dynamics and performance. You do not want to use profanity in answering questions. This shows a lack of professionalism. If you are talking with a bank client and you use profanity, it may lose their account which could be a multi-million dollar account.

An interview is a dialogue between the company and yourself. The interview benefits both parties to determine whether or not a candidate is a good fit for a banking position. Making these mistakes will terminate any chance you have of getting the position.

Easy Steps To Use Online Mobile Banking On Your Smartphone

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Mobile banking applicationsare one of the latest innovations in the world of technology as of today. It has undoubtedly come in handy for people from different walks of life. From youngsters to young professionals and even businesses and large corporate houses, it has touched and eased many lifestyles.

Essentially a technique that allows users to control and operate banking transactions on the go, a mobile banking application perfectly blendsin with the fast-paced world that relies on technology developments. Mobile banking application allows its customers to bank anytime and anywhere. With such service at one’s disposals, one can remotely operate all their bank transactions and take care of it without any hassles. Few of the leading banks aim to ease and simplify their customers’ hardships, by providing the assistance of mobile banking.

The following steps can be undertaken to avail of this service:

Step 1: Contact the bank
Customers can avail the assist of digital bankingby getting in touch with their bank and request for the application. Once confirmed, the app can be downloaded from the bank’s official website. The said app needs to be installed on the supported device, preferably a Smartphone. There are separate mobile banking apps for android, mobile banking apps for iPhonesand mobile banking apps for Windows Phones as well.

Step 2: Creating a user id
Next, a suitable ID and password needs to be chosen in order to link the mobile phone or smartphone with the bank account. Most of the times, it is the bank that provides its customer with an id and password. Alternatively, it can be done from one of the bank’s ATMs as well. Once it has been done, the user can view the basic features and functions of cell phone banking on their device.

Step 3: Select your transactions
The features are not only exciting but also greatly helpful. Cell phone banking users can pay their electricity bills, telephone bills as well as recharge data card, digital TV, mobile and so on. The service does not restrict to bill payments, it also lets the customers transfer funds. It allows users to also track the closest ATM machine nearest to you by activating the GPS on your phone. All these services can be activated from the mobile banking apps for android and mobile banking apps for iPhone

By and large, most mobile banking applications are secure as no information is stored on your mobile device or SIM card, which is enough to keep customers accounts secure. It is very user-friendly, and comes in various languages. To maintain the simplicity, the service is subjected to regular updates and occasional enhancements in quality.With Mobile Banking application customers can access the account on the mobile in a safe and secure manner.

Finacle Mobile Banking Solution

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With mobile devices becoming integral to people’s lives, banks are seeking to leverage the ubiquity of mobile phones to create a cost-effective distribution channel, rapidly innovate, extend reach across segments and improve convenience and security of use. However, due to consumer concerns regarding security, the adoption of this channel for value-based transactions has been limited. While some consumers prefer browser-based mobile banking, others use applications that can be downloaded to create a rich interface on the handset. Additionally, the diversity of hand held devices presents a unique challenge for banks seeking to optimize services delivery across the gamut of devices and customer segments.

A truly secure mobile banking solution built on open standards, for increased agility and flexibility, can prove invaluable for banks. The solution must also intuitively address the hurdles posed by multiple form factors and access mechanisms in the mobile space.

Finacle mobile banking solution empowers retail and corporate banking customers with access to banking services through SMS, GPRS/ 3G and USSD-enabled handsets, leveraging a single platform. The solution provides a secure, multi-lingual channel for banks to innovate by easily deploying new services with improved time to market. The end user experience thus created is richer and truly convenient.

Finacle mobile banking solution integrates easily with disparate host systems, core banking solutions, payment networks and third-party applications. The solution leverages Infosys mConnect, the indigenously developed middleware, which orchestrates mobile transactions between users’ devices and the Finacle universal banking solution. Infosys mConnect handles the multiplicity of form factors and access mechanisms on multiple devices to provide a context and device independent view to the transaction server. This presents banks with a powerful channel to service customer segments ranging from the mass affluent to the under-banked or unbanked, surmounting the challenge posed by the diversity of mobile devices.

The ubiquity of the platform adequately addresses the challenges of encryption, communication, synchronization, image resizing, downloading and security. This ushers in the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs.

Customer On-boarding

Finacle mobile banking enables the bank’s existing customers to be directed to use the mobile channel for banking and payment transactions through the following modes:

Mobile banking facility requested by sending SMS request in prescribed format

Registering for mobile banking through the bank’s Internet banking site

Phone banking leveraging the bank’s tele-banking call center

Mobile Banking and Payments

Customers are enabled to perform several financial transactions on their mobile phones using multiple languages and across multiple time zones. The functional capabilities of the solution include:

Account management and requests like balance inquiry, account aggregation (within and with other banks), mini statements, among others

Term deposit and renewal

Funds transfer (self and third-party accounts with multi-currency support)

Local and international payments with support for expedited payments

Bill presentment and payment

Remote deposit capture

Account origination, Forex rates and calculators

Cheque status inquiry, cheque book requests and stop cheque requests

Customer personalization including account setup and marketing preference

Transaction approvals for corporate customers

ATM and bank branch locator

Remittance request, enquiry and statement

Peer-to-peer payments

Business-to-business payments

Contactless payments

Support for administrative tasks like secure mails to relationship manager, approvals, password/ PIN change, block credit/ debit/ ATM card, customer billing, data synchronization and self-audit

Key Modules

Mobile Financial Management

The solution offers unmatched support to manage finances on the move. This helps banking consumers make informed decisions. A comprehensive set of tools is provided to enhance financial management.

Quantitative (such as EMI calculators) and qualitative analysis tools (such as budget vs. spend analysis)

Transaction tagging

Product selectors and comparators

Virtual financial advisory services through video chat on mobile

Alerts

This module empowers customers to subscribe and receive a wide variety of mobile alerts. The solution supports both push and pull alerts along with customizable alerts via integration with Finacle alerts solution. The module also allows the customer to set preferences and limits for alerts and configure ‘do not disturb’ timings.

Value Added Services

Finacle offers a gamut of value added services that provide extended convenience and comfort to the customer. These include:

Mobile commerce

Mobile ticketing

Mobile top-up for prepaid card recharge

Mobile advertising, based on location, user profile and actions

Mobile remittances to charity causes

Mobile wallet

Demat and stock trading services

Security

Finacle mobile banking solution offers state-of-the-art security through optimized measures. The solution offers:

Two factor authentication – PIN encryption

J2ME MIDP 2.0 support for SSL/ TLS

Encryption of data stored on mobile phone

Support for binary XML

Enabling and disabling of mobile numbers

Support for additional authentication mechanism

Business Benefits

Greater Customer Convenience

Finacle mobile banking solution empowers banking customers to make informed decisions by providing them with an invaluable set of financial management tools on the mobile handset. These tools help in quantitative and qualitative analysis, as well as in the selection and comparison of financial products.

Reduced Turnaround Time

Finacle mobile banking solution has a robust integration framework which allows it to function in tandem with disparate host systems, core banking solutions, payment networks and third-party applications. This translates into reduced go-to-market time for the bank as well as support for legacy systems.

Robust Inclusivity Framework

Finacle mobile banking solution leverages Infosys mConnect to smoothly hurdle the challenges posed by the multiplicity of form factors and access mechanisms on multiple devices to provide a context-agnostic view to the transaction server. This enables banks to include, through the mobile channel, its various customer segments, ranging from the HNWI to specific unbanked communities, surmounting the complexities of diverse location and dissimilar mobile devices.

Maximize Innovation

Banks can leverage Finacle solution’s indigenously developed middleware Infosys mConnect, to configure an unlimited palette of services from any channel, to the mobile space, with ease. The need for development of new back end services is precluded due to the availability of a banking solution behind the mobile interface. Finacle also provides the flexibility to deploy services over the existing online banking platform or through a standalone delivery channel interfaced directly with the relevant host systems. This ensures the rapid delivery of a comprehensive range of financial services, embellished with new innovative features, on mobile devices.

Business Benefits

Robust Security

The solution offers extensive application security features like URL encryption, referral URL check and session management to provide a robust security framework. The solution also supports OTP (one time password), which provides a two factor authentication mechanism for users transacting with downloadable mobility client. This enables the bank to offer products that are highly secure and geared to withstand the onslaught of security threats associated with mobile transactions.

Cost Savings

The solution presents banks with the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs. This translates into significant cost savings without banks having to compromise on features or the range of devices supported. The mobile banking solution is inherently independent of the network service provider, obviating the need to build a business model that involves costs and profits sharing with them.

Customer Delight

Finacle mobile banking solution enables banks to offer the convenience of comprehensive anywhere anytime banking, using GPRS, mobile browser or SMS. It supports a wide range of mobile devices and mobile browsers. Banking customers can query on account balances and make fund transfers. Banks can also proactively send timely information to customers in a completely secure environment, whenever a customer-defined event occurs. The solution’s self-service capabilities empower customers to manage their banking activities better. The solution also addresses data transmission and storage related security concerns adequately, delivering a truly streamlined customer experience.

Suggestions To Make Your Personal Banking Better

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Personal banking aims to make your day-to-day banking transactions smooth and fast. By enabling online fund transfer, bill payments, payments to vendors, ECH, and other such services, personal touch banking makes business operation and management easier and effective. Additionally, personal touch banking allows customers to save their money and manage it properly. But there are times when customers lose their money rather than saving it. So, here are some suggestions to make your personal banking better.

Every time you receive your bank statements or any other document from bank, review them carefully. You may find some errors or unwanted charges on your credit card. To avoid instances of identity theft, you must pay a close watch on whats happening in your account.

Make sure that you are not paying any extra fees and charges. For personal touch banking Florida, your bank might charge you annual fees, check-writing fees, overdraft protection fees, counter fee, and so on and so forth. These fees can eat away your savings slowly. It is advisable to keep a close watch on the bank policies.

Online banking is considered to be the best facility of personal touch banking Jacksonville. But never access your personal accounts in public as public networks are not safe and secure. You might lose your passwords and account details.

For your personal touch banking Jacksonville and Florida, never use obvious passwords like birthdays, anniversaries, or your mobile numbers as these are easy to guess and can be misused by others. Also, you must never write down your passwords at places that can be accessed by others.

Do not leave signed checks in your car or in your office. Similarly, you must keep your bank statements and account details in a cabinet so that no one can know about your financial transactions, as well as your financial standing.

You might be having a great rapport with your personal bank but do not become so used to of them that you do not look for personal touch banking details elsewhere. It is always better to shop around and explore options when you are in need of a loan or credit card or any personal banking service.

Finally, to assure yourself of the best personal touch banking experience, establish a good relationship with your bank. If you are in good terms with your bank and its staff, they will keep you informed about their new policies and offerings. This way, you can avail the best schemes and policies.

For the best personal banking services and facilities, please log on to jaxbank.com