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These days almost all the transactions can be made through online banking which includes online shopping,cheque book requests and much more.But one important facility which customers should be able to do online is, blocking their own ATM or Credit card as well as Net banking(If relevant).Once the customer blocks his cards online, then to revoke the same they should submit an application to the bank mentioning the reason for blocking it.As per my knowledge, I am not sure how many banks are providing such a facility.In most cases, if you want to block your card you will have to place a call to the customer Cell.This facility should be of much use for customers who are frequent travellers.
After demonetisation period in India online transaction option has got a big boost. Even street vendors now accept mobile payment . The Government has introduced the mobile smart phone APP BHIM which is a game changer in online transactions.
Presently, online transactions and processes were more familiar than before as massive developments were obtained in this sector in order to execute the payment through the internet/ Online banking with a lot of the facilities to cover the cost for the hotel booking and shopping operations.
This banking system brought a lot of the matters and problems for the customers and buyers because there is not available 100% secure of the Account of users from the Hacker and robbery. The Online banking which is set to present good facilities to the customers and buyers to cover the payment through the internet system but create several problems as no good blocking system existed to prevent the hackers and scammers from robbery of the Banks and personal accounts.
Before the Online banking system utilization need to set up good blocking system to perform the online payment with more safe and secure channels in order to avoiding any scam or hacker.
Transactions such as basic utilities payment, other credit card payment facilities, Airline bookings and retail shopping failities could be offered to the cardholder's. These transactions let the consumer save time and help in boosting the mordern economy. One of the recommendations i would like to share is that replacing their exisiting card to new one every year brings in a lot of difference with regards to security and less risk to the cardholder's funds. A basic habbit for the consumer's should be viewing their statements regularly which helps in monitoring their spendings over malicious websites and unsecured websties as it's pretty easy to captured card details and misuse funds without customers awareness.
1. Drive better risk assessment
Assess online transactions, and the level of risk these present by type of transaction or user group, in order to develop risk mitigation strategies
2. Adopt strong authentication standards
Today’s threats require stronger means of authentication than simple usernames and passwords, particularly for high-risk financial transactions such as wire transfers.
3. Take a layered approach
It is worth noting that no single authentication or traditional fraud detection solution can stop advanced malware on banks and other FIs. It is the layering of different, complementary security technologies — such as strong authentication, behavioral fraud detection, out-of-band transaction verification, mobile authentication and extended validation SSL digital certificates — that provide the best method of protecting customer identities and transactions in a banking environment.
4. Explore advanced authentication techniques
There are a wide range of strong advanced authentication techniques available today. As online fraud attacks increase in sophistication, so does the innovation in authentication technology required to stop these attacks in the consumer space.
4. Explore advanced authentication techniques
There are a wide range of strong advanced authentication techniques available today. As online fraud attacks increase in sophistication, so does the innovation in authentication technology required to stop these attacks in the consumer space.
CASH,REMITTENCE ALL LAWFULL REMITENCE UNDER THE RULE REGULATION OF AML.RECEIPT PAYMENTS ON BEHALF OF THE CUSTOMER
First of all thanks for invitation,...!I totally agreed with the fellows & experts answers. Well explaind. Thanks
Transaction like online payment and transfer of funds, statment of account. This will reduce the ease of operation and closer outlook of account. online request for loans and other advance as per eligibility of account, will ease the complicated process of application. If the account holder has a good track record can give approvel of fund as per the account balance. This makes the process easy and valuable.
there are some transactions they can do itr online such as :
transfering between their own acconts
transfering to other banks
check their statments
>>etc
I think they can make all transactions except what needs their own signature
even we can find out a way to preforme that too online
I feel that the Money Management should be provided online which shall help the customers to manage their cash.