Technology in banking and service has advanced the reach and feasibility for the customers,

ATM, internet banking, mobile banking, debit/credit card system and SMS had made the life

easier. However, there is a lot of scope for a bank to improve in technology so that it can

target a wide range of customer, deliver a quality service, lowering the cost and have a

competitive advantage.

BIOMETRICS:

This technology is still in trial stage in Indian banks. It measures and analyze human body

characteristics such as finger prints, eye retina, voice patterns, facial patterns etc. It will help

in targeting rural markets a typically unserved market in terms of technology, where ATMs

have been faced as difficulties for the rural customers for their transactions. Unbanked

consumers complete a relatively simple enrolment process, which generates a unique and

secure identity for each person. While biometric can provide easy, secure and hazel free

transaction free of pins, cards and password. The cost of implementing this system has reduce

majorly due to IT innovation. This process not only helps customer but also serves banks in

identifying the credential and history of their transaction of their customer applied for loan. It

also helps in identifying any counterfeit or duplicate documents presented by customers.

Japan has deployed more than 100,000 biometric enabled ATM to comply with anti-fraud

and anti-laundering regulation. Employees of the bank can use these facility for logging into

systems, access important details which becomes transparent to the organization and helps

them in rating and improving performance of their employees. Suspicious activity can

identified in real time.

Multifunctional ATMs:

Multifunctional ATMs can perform other function other than just providing cash and account

details, it can provide mobile recharges, tickets, bill payment and can also advertise which

will become revenue generator for the bank.

SOCIAL MODEL FOR MARKETING:

BRAND DEVELOPMENT: Social media is broad reaching and across geographical

region, banks can do branding. Create a feedback loop between marketing responses

& customer responses. A customer who uses facebook can like or comment about the

bank campaign and can retweet on twitter can helps to promote banks brand. Can

identify negative feedback by the customer on a particular product and service using

this information can design an appropriate product. Can use these platform to solve

customer query and be responsive to customer pain points and provide real time

customer service. Customer post in social media can be used for knowing the

customers deeply, if a customer post about a foreign trip bank can offer travel express

card, travel insurance, currency exchange etc. It can target new customers by their

likes of a particular page like cricket, house, traveling, clothes shopping bank can

know about the customer interest and offer IPL tickets as reward, offer loan if

intention is to buy house, offer discounts if they like sopping.

Indian Banks also stared leading towards social media, ICICI Bank is the largest

privately owned bank in India, with a history of rapid growth in retail banking and a

reputation for innovation. In early 2012, ICICI launched a Facebook banking service

which includes account information, special offers, and links to the bank’s web site.

This may not sound like much but it’s the first major bank to provide meaningful

banking functionality through Facebook, rather than just marketing information. The

Facebook app is hosted on secure ICICI servers, and requires the customer to enter a

debit card number and password before it can be accessed, but without leaving

Facebook.

Barclays has become the first British bank to let social media users make payments to

individuals and businesses’ Twitter handles using the Pingit app. The UK’s 13.5

million Twitter users can get on board with the scheme by linking their Twitter and

Pingit profiles – allowing payments to be made to the bank accounts of specific

Twitter handles. Customers need not be Barclays customers, extending the scheme's

reach.

http://www.barclays.co.uk/Mobile/BarclaysPingit/P1242603570446