Tuesday, March 26, 2013

Use icici bank atms to educate 250 children

                ICICI Bank is requesting its bank customers to exclusively use their own Bank ATMs to withdraw cash via emailers.  Every time a bank customer withdraw cash at the banks ATMs in Bengaluru, ICICI Bank, contributes their own funds, towards the education of street children.

So, the more you use ICICI Banks ATMs, the sooner can these children go to school.

Please spread the message among your family and friends and help make a difference.

As the base city of the customer is mentioned in the advertisement, ICICI Bank seems to rely on targeted advertisements, to encourage their bank customers.

It is a well known fact, that the servicing cost at ATM is 1/4th of the branch servicing cost. The only point is whether bank customers would like to withdraw money from an ATM, even if they really do not require at the moment.

However, this is good combination of business and CSR by financial institutions to promote their brand image and at the same time, roll out a CSR activity.

Looking forward to the closing mail of this CSR campaign.

For every withdrawal, ICICI Bank will donate 25 paise to educate street children. The collected amount will be then handed over to an NGO through GiveIndia to educate 250 street children. Non-ICICI Bank customers are also welcome.

Wednesday, March 20, 2013

SGB unveils RuPay Debit Card and RuPay Kisan Card

Saurashtra Gramin Bank is a Regional Rural Bank, established under RRB Act, 1976. The Bank in its current avatar is  an amalgamation of three banks namely JRGB, JAGB & SBGB, prompted by SBS (now SBI) since 1978.

Saurashtra Gramin Bank, this week  has introduced RuPay Debit Cards and RuPay Kisan Cards for its bank customers in collaboration with National Payments Corporation of India (NPCI).

It is aimed to facilitate more than 5.5 lakh customers of SGB to gain access to over 1,10,000 ATMs across the country and make financial and non-financial transactions including- cash withdrawal, balance inquiry, mini statements and PIN change facilities.

          Once POS Terminals start accepting RuPay cards, the accessibility will still increase. POS Terminals encourage Safe ePayments.

With this unique initiative, nearly 1.25 lakh farmers of SGB will attain the facility of payment instrument in the form of RuPay Kisan Card and achieve the overall goal of financial inclusion, as per the revised KCC guidelines of NABARD, RBI and Ministry of Finance, Govt of India.

The Bank has currently 200+ branches spread over  7 districts of Gujarat named as, Jamnagar, Surendranagar, Junagadh, Amreli, Porbandar, Bhavnagar and Rajkot.
          For more information on SGB, browse through their inhouse magazine.

          The Bank has is also planning for door-step banking to unbanked villages having a population of over 2000 in 139 villages which are in the 7 districts of its service area. 

Sunday, March 17, 2013

Indusind Bank goes live on new CBS in a single day cutover

Indusind  Bank goes live on Finacle 10.2 in a single day cutover

                        In the last 12 months, Indusind Bank had been attracting a lot of new customers in its fold. One of the main reasons for retail customers to be motivated to open accounts with Indusind Bank is the slew of new banking sub-products launched in the last 15-18 months.

            Of all the sub-products, two stand out. One is the ‘check-on-cheque’, and the @ ATMs’ cash denomination choice.

            To offer the best services to its growing clientele, Indusind Bank took the decision to migrate to Financle 10.2

The challenge was to migrate to the new CBS with minimum business disruption. This is where Avekshaa Technologies played a stellar role.

            Avekshaa Technologies closely worked with Indusind Banks’ IT Department and successfully, replaced the old CBS with the new Finacle 10.2 in all 461 branches and 852 ATMs with zero post go-live performance and scalability issues.

            It may be noted that Indusind Bank has been live on Finacle’s Consumer e-Banking solution since April 2011. In a way the switchover to Finacle 10.2, has been done in a very short span of time.

            Indusind Bank has taken care to map its old account nos (13 digits long and a combination of alpha and numbers) with its new account numbers (12 digits all numbers only). Hence, its customers need not go through the exercise of replacing their old account numbers with the new account numbers. 

Corporation Bank to adopt a new Core Banking Solution

          Corporation Bank in 2003 was one of the first Public Sector Banks to migrate to Core Banking Solution (CBS).  Over the years many new products have been introduced in the banking arena, especially in relation to ePayments.  

          Corporation Bank to a large extent still relies on a Cobol Based Application. Corporation Bank is the only bank which still has a Cobol based Application. Hence, the top management of Corporation Bank decided to migrate to a new CBS. Now, Corporation Bank will be the first public sector bank to switch over to a new CBS.

          There were 3 guiding points for choosing the new CBS.  

01)      Enhanced analytics for top management.

02)        Minimal TAT to roll out new banking products.

03)        Ease of usage of alternate channels.

The process was kicked off with RFP for appointment of Technology and Project Management Consultant in April 2012. In December 2012, the RFP for Core Banking Solution and Other Applications Implementation was issued.

     The target date for the pilot branch rollout is 12-15months from March 13. After the Pilot branch rollout, it will be rolled out in 10 branches. Once it is stabilized in the initial 11 branches, the rollout will continue in batches of 50 branches.  

          Corporation Bank with 1600 + branches, is considered to be a tech-savvy bank. Its major contribution to the Indian Banking industry is the rollout of CMS Products. Corporation Bank is the first public sector bank to adopt CMS Products to boost its CASA balances. 

Sunday, June 17, 2012

Union Bank of India – Vision

Union Bank of India's vision is to become No.1 Retail Bank in Customer Service Excellence.
Towards this end, the Bank recently opened the 111th Union Xperience Branch and also launched the ' Green Banking'.

Union Xperience Branches are designed towards delivering superior customer experience for the Bank's customers.

The 'Union Xperience' was launched by the Bank a year ago and has been rolled out so far in ten cities viz Mumbai, Delhi, Hyderabad, Bangalore, Ahmedabad, Jaipur, Lucknow, Pune, Chennai and Kolkata.
In the near future, Union Bank customers in Ernakulam, Surat, Nasik and Chandigarh, will be able to experience the 'Union Xperience'.
The long time vision is to roll out 'Union Xperience', to all its Metro and Urban branches.

The existing branches have been remodelled to deliver superior customer experience. The thrust is on automation of routine banking tasks viz passbook printing, cheque deposits etc. The sales delivery model at these branches has also been re-designed.

Saturday, June 16, 2012

AEPS – Aadhaar Enabled Payments System

NPCI in the recent past rolled out a new Banking Product I.e AEPS.

The working group to finalize the standards included members from RBI, UIDAI, NPCI, IDBRT apart from special invitees from Banks and Research Institutions.

A Proof of Concept was demonstrated to the various stakeholders evolved in the AEPS cycle.

AEPS is a bank led model which allows online financial inclusion transaction at PoS ( MicroATM) through the Business correspondent of a bank using the Aadhaar authentication.

At present AEPS service can be availed by customers at their respective bank business correspondent outlets.

4 types of basic banking transactions have been initially activated for AEPS. They are : -

01) Balance Enquiry
02) Cash Withdrawal
03) Cash Deposit
04) Aadhaar to Aadhaar Funds Transfer

Only minimal inputs are required for a customer to do a transaction through a Business Correspondent's MicroATM. The minimal fields are :

a) IIN (Identifying the Bank to which the customer is associated)
b) Aadhaar Number
  1. Fingerprint captured during their enrollment

The complete FAQ's on AEPS can be viewed here.

The infrastructure is now ready, and now the State Governments should have started to roll out the payouts through the AADHAAR platform. However, as the volumes are not picking up, Union Finance Minister has written to the Chief Ministers of 16 states/union territories to expand the number of districts for the Pilot run on the AADHAAR platform.

The Chief Minsiters to whom the Finance Minister has written letter include the Chief Minister(s) of Kerala, Haryana, Himachal Pradesh(HP), Punjab, Rajasthan, Sikkim, Tripura, Goa, Gujarat, Jharkhand, Delhi, Puducherry, Karnatka, Madhya Pradesh(MP), Andhra Pradesh(AP) and Maharashtra.

Intially the pilots are proposed to be for Public Distribution System, LPG distribution, Kerosene disbursal, Government pension schemes, Janani Suraksha Yojana, Government Scholarships, Financial Inclusion, Kisan Credit Cards (KCCs) and MGNREGS wage disbursal.

However the above is only an only an illustrative list and the Chief Minister(s) may like to include other schemes in their respective State/Union Territory for initiation of pilots based on the Aadhaar platform
The more the Pilot runs, the more data will be available to fine-tune the process flow.

Friday, June 8, 2012

Seattle san fran santa clara

This post pertains to a game played in the USA. Baseball is one of USA's most famous games, with a huge following across USA.
However, in India, Baseball has not really picked up much, and it is very rare to see a baseball game. Hence, Indians while visiting USA, usually plan a visit to a BaseBall Game also. It is a fast paced game just like Cricket played in India