innovationinbanking

CentFast2India – Bank Neutral Funds transfer channel Central Bank of India, has launched a new product - CentFast2India The FAQ’s are @ https://www.centfast2india.com/showFaqDirectProduct.do?faqPrevious=true#overview Centfast2India is a channel for remitting funds online from the United States to India. The highlights are : 01)   Customer can transfer from any US Bank Account to any Bank Account in India. 02)   Once the initial registration is over, Central Bank of India, remits 2 sub-dollar transactions to the Remitter’s Bank Account. 03)   Once the Remitter conforms the receipt of the 2 sub-dollar transactions in his Bank Account, the CentFast2India service is activated for the Remitter. 04)   The test transactions are a security procedure to validate the ownership of the Remitting Account. 05)   The funds can be transferred via a)       Electronic Deposit – to most banks in India, - the NEFT Platform is used here b)   ...

Dhanlaxmi Bank has recently launched its Credit Cards. It has introduced for the first time in India a new Billing Option i.e Pay by Transaction. The complete details and the mechanism of  the same are explained @ http://www.dhanbank.com/pdf/cc/Most_Imp_Terms_Conditions.pdf As this is new concept in India, this will take some time, for all the participants i.e Bank Staff(Operations and Sales), prospective card-holders, existing card holders to be familiar with the nitty-gritty. But, as this Pay by Transaction is a great differentiator amongst the other Credit Cards in the Indian market, prospective customers will be tempted to try it out. This differentiator, will enable the Dhanlaxmi Bank Sales Staff to push their Credit Cards

BSNL partners Union Bank of India to launch bill payment, mobile recharge services BSNL the telecom giant has joined hands with Union Bank of India, to enables its customers to pay BSNL Bills and also recharge their Mobile Services. Source:BSNL Website:- http://bsnl.co.in/service/pressroom/news_details_2010.htm#22jul10 The Highlights of the Scheme are:-  1.Bill payment through Mobile: UBI account holders, after one time registration of BSNL mobile number through mobile, makes payment of BSNL bill using the mobile phone anytime, anywhere.   2.Mobile Top-up through Mobile : Common customers of BSNL and UBI top-up their mobile through the registered mobile anytime, anywhere. The following two features available at ATM’s  are the most attractive 3.Bill Payment at ATM: - No pre-registration required; customer uses his UBI Debit card & makes payment of BSNL bill, anytime, anywhere through UBI ATM and gets a receipt.   4.Mobile Top-up through ATM ...

State Bank of India – Green Channel. State Bank of India has introduced one more in Indian Banking. It is a combination of Electronic Banking and Branch Banking. Recent studies have indicated that more and more consumers prefer face-to-face banking rather than faceless banking. Hence, Banks in India too have started to respond to this new customer’s need. From 01/07/2010, State Bank of India, at Select Branches has launched the Green Channel Banking. ------------------------------------------------ The details in brief are us under - GREEN CHANNEL COUNTER: - 1) The customer need not fill up any pay-in slips or draw cheques for depositing or withdrawing money from their accounts. 2) Processing time is reduced, as duplication in writing/feeding account details and transaction details by the customer as well as the person behind the counter is avoided by simply capturing these details by swiping the SBI Shopping cum ATM card (State Bank Shopping Card) on a device availabl...