Indian Bank onboards the Account Aggregator Ecosystem

-

 

Indian Bank onboards the Account Aggregator Ecosystem

          This is one the best Press Releases on the Account Aggregator Ecosystem.

          Read Indian Bank’s complete press release @ https://www.indianbank.in/wp-content/uploads/2019/03/Indian-Bank-LIVE-on-Account-Aggregator-System.pdf


         The objective of Indian Bank onboarding the Account Aggregator ecosystem is highlighted in the Press Release

Quote

As a step towards building up and achieving the government’s mission of driving Open Banking in India, Indian Bank, a leading public sector bank of the country, has embarked on the journey of Account Aggregator Eco-System, with the aim of commissioning an avenue to its over 100 million customer base to digitally access and participate in the sharing of their financial data traversing across financial institutions in a secure, efficient and dynamic manner, rejigging investment and credit in the days ahead.

 UnQuote

 

Indian Bank is both i.e., FIP (Financial Information Provider) and FIU (Financial Information User)

As FIP, Indian Bank will provide the Account Details of its customers to other FIUs, as per existing guidelines.

At the same time, as FIU, Indian Bank may seek account details from other participants in the Account Aggregator ecosystem.  

The initial signups to the Indian Bank AA platform may be the new account holders onboarded through ‘Tab Banking’, channel.

These set of customers are familiar with the benefits of digital banking and may be willing to link their accounts on the AA platform with the least push.

IndOASIS users too may be quickly onboarded to the AA platform, as they are also familiar with benefits of digital banking.

 

IndOASIS is Indian Bank’s mobile banking application available in Google Play Store and iOS App Store for retail users – One App Simple, Integral, Secure.

 Disclaimer: These are my personal views only. The bottom line is Safe ePayments. Nothing More - Nothing Less.

The copyrights rest with the original holders only.

 

 

 


Comments

Post a Comment

Popular posts from this blog

CERTIFICATE EXAMINATION IN INTERNATIONAL TRADE FINANCE

-
Image
          This certification is essential for all members of a Bank Trade Finance Department.   The syllabus covers key aspects required by team members to effectively discharge their duties. Trade Finance is one of the traditional forms of bank finance in India. In view of reforms and liberalisation, this has gained a new significance.   Many of the practices in trade finance have evolved over a period of time and some are guided by Ministry of Commerce and Reserve Bank of India, besides WTO and International Chamber of Commerce through UCPDC 600. With the increase in the volume of trade both domestically and internationally, there is a need for trade finance professionals from banks as well as corporates. The Objectives of this IIBF Examination is as under:   (i) To provide candidates with competencies required to function as trade finance practitioners. (ii) To enable candidates to possess the needed skill and knowledge to understand clients' needs
Read more

IIBF-Certificate Examination in Foreign Exchange Facilities for Individuals

-
          The primary objective this IIBF course is to make the branch officials familiar with the FEMA provisions that impact their day to day functioning at the branch level.     This exam is being introduced pursuant to the recommendation of a committee of RBI.           Normally foreign exchange transactions pertaining to individuals are handled at branches only and are not referred to specialised forex cells.           The course covers ‘Foreign Exchange Facilities for individuals under FEMA1999’ RBIs FAQs’ on Forex Facilities for Residents (Individuals) (updated up to November 21, 2014) For full details refer to Reserve Bank of India website: Introduction : The legal framework for administration of foreign exchange transactions in India is provided by the Foreign Exchange Management Act, 1999. Under the Foreign Exchange Management Act, 1999 (FEMA), which came into force with effect from June 1, 2000, all transactions involving forei
Read more

Feedback on BB-Instant Vending Machines customer review_ “while login (maximum account limit reached for this number) problem”

-
Image
          Office goers in Bengaluru, Hyderabad and Noida along with apartment dwellers in Bengaluru, Hyderabad and Noida are doing a bit of their daily shopping through BB-Instant Vending Machines.           Vending machines in India are still a novelty and most of the vending machines expect hard physical cash to dispense the goods.           Fortunately, BB-Instant Vending Machine is 100% Digital Transaction based. The below issue is reported by quite few users while downloading BB-Instant App QUOTE Customer feedback:: my problem still not solved, I have tried to solve my error message while login (maximum account limit reached for this number) problem but you people cannot fix it infact you are saying to change my mobile number, you think for your stupid error I'm going to change my number. Standard BB-Instant Customer Team Response: Bigbasket.com2 July 2019 We are very sorry to have you disappointed, kindly share us your details at appsupport@bi
Read more