The tremendous advances in technology and the aggressive infusion of modern banking services have brought in a shift in banking operations. With the development of modern banking, the world has become a global village and it has brought a revolution in the banking industry.
The followings will be the technologies will come in Banking.
Biometric:
Biometric systems could spell the end for the password, and, for payments, the end of the PIN code. Master card, for example, is prepping the launch of a new contactless card with an embedded fingerprint sensor, creating a more secure transaction method.
In a rapidly changing world, the way we interact with systems requires innovative solutions that provide enhance security without compromising case of use and convenience. Biometrics is at the core of building trust between people and systems with wipes patent technology platform a self-contained biometric engine enables full-on device authentication so there is no centralized database. It harvests power from standard payment terminals over the air in real-time so there is no need for batteries.
Smart Watches:
Interest in wearable devices is growing in all sectors, and banking is no different. The smartwatch works in conjunction with the bank's Android mobile banking app, allowing customers to view their account balance and set aside small amounts of money using its Impulse saver feature.
Users can access the app by either speaking directly into the device or by navigating through the smartwatch menu, while balance notifications can be sent to the watch automatically each morning. What survey says ''People like to receive information on their wrist, and people who use these devices enjoy the convenience of notifications in this way''.
Robotics:
The primary opportunity for robots in the banking industry at this time is that they can extend the creative problem-solving capabilities and productivity of human beings and deliver superior business results.
The research says that through these technologies, humans have the potential of attaining new levels of process efficiency, such as improved operational cost, speed, and accuracy.
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When the card is stolen or lost, blocking procedures are long and time-consuming. A time window exists before the hotlist refresh happens. Users had no control on card usage till recently. Cardholder can’t change or set a limit for each transaction as it involves processes to be performed.
With these technologies, Banking work will be going to be smooth and by that security of the documents will get enhance.
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Technology