innovationinbanking

  Bank of Baroda invites ‘Fintech Companies’ for Development, Customization and Maintenance of Digital Solutions via Wet Signatures           All FinTechs are requested to go through the 54 pages Bank Of Baroda RFP and if they fit in for empanelment to proceed accordingly Please note: 01)   Wet Signature required 02) Processing fee required 03) Pre-Bid meeting on Microsoft Teams 04)  Bid Closure Date 25 Jan 2023 at 15 Hrs Bank of Baroda is one of the largest Public Sector Bank (PSU) in India with a branch network of over 8100+ branches in India and 95+ branches/offices overseas including branches of subsidiaries, distributed in 15+ countries. The 8100 + physical branches are spread all over India. RFP Objective: To increase the Bank-Fintech partnership, to enable Bank Digital Channels as a platform for on-boarding large number of Fintechs/Startups entities for providing various third party financial / ecos...

           NPCI – NACH Department has released a strongly worded circular regarding ‘ Embossing signatures on Mandate Images’. NACH Circular No 34 dt. November 22, 2018.           NPCI has noticed that few Presenting Banks / cooperates are indulging   in the following practices: 01)   Embossing the signature of the customer ( cropped from some other document) on the image of the physical mandate. 02) Getting the customer sign on the electronic gadget ( on the surface of the tablet, IPAD) that is used for inputting the mandate details. Both the above practices are not part of the NACH Procedural Guidelines.   As on date, Wet Signature is mandatory on a NACH Physical mandate.           Institutions circumventing the rules, bring disrepute to the whole NACH Cycle. All the participating instructions in the NACH Channel, be it P...