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@Anthony - You came with good concept of Next ATM functionality of Customised Token. It can enable Crypto Currency for banks. 

There is catch as these tokens needs to be compatiable and wide spread across various modes for payments.

@Ketharaman

1. SWIFT Alliance is common system used by most of the banks and banks in India also use by building SWIFT message room (barring few banks may be having it's own system build). PC Connect is commonly used as client to post transactions directly but due to license cost it's not used for large foot print branches.

This leaves cheaper branch to SWIFT center solutions where branch transactions are posted to SWIFT center. At SWIFT center transaction posting by SWIFT center officials ( typically in maker checker way) for each transactions posted by branches. Here also each SWIFT message is directed to Printer as Print Ledger copy used by Tresuary team but in case of PNB and other frauds printer is made offline, passwords are shared so used for maker checker login to post transactions directly to SWIFT - it goes unnoticed for months as officers do not change becuase SWIFT operations needs learning curve to build and most banks fails to do so ( My Tenure of 1992 to 2004 - I have seen single officer in SWIFT center of several PSU/Priavate banks :)) so it's easy to manage.

2. Barring Human errors and frauds, PC Connect is used by several banks which has less Forex services designated centers or sometime single regional center with PC Connect and all branches direct the customer transactions through it solves issue as it gets posted directly to SWIFT from PC Connect with proper logs.

one of the way for large foot print banks can be to build interface in CBS clients to post transactions which can post it across various Recon/survellience and compliance system to ensure control and checks at various stage.

Some of these uses cases are coming from M2M and RFID implementation and getting new cloathes in the form IoT framework.

Forexample

1. PET tracking was the few first Active RFID tag implementations used for tracking animals in large areas of safari/forest and measuring it's life and also help in medical treatment. ( Now few clubs in europe use it for it's elite customer to remain anonyomous on it's arrival and can make payments using such micro chip - despite few oppose it as being treated like animal :) ).

same is the case of

2. Telemetry(M2M) for vechile tracking using Black box (Started in Belgium by BMW to reduce Insurance Premium and find authenticated vehicle data) now gets into IoT story by EUROTECH's IoT offerings.

@Dharmesh, you can look at such cases as incentive to Insurance company as well as automobile OEMs. Another example - IoT platform to track customer's valuables as additional service from Mobile banking app or net banking access. (Ofcourse at present banks in India needs KYE platform - Know your Employee :) )

Most of the IoT implementations overlook critical factor of TCO/ROI calculation, end user benefits which can make good implementation.

Last year, we designed cloud based liquor ordering system using IoT to measure correct quantity and correct liquor for each customer order, defying  around 10 to 12 common ways adulteration of liquor. It was proved to save dollars at the same time gives different customer experience all together.

Hackers can target SWIFT centers of India's banks as employees themself are also part of fraudulent activities and that also larger magnitude than hackers :)

One of the common thing observed between SWIFT transactions posting across the globe and India are quite different. MAjoe difference is transaction posting through internal system with multiple autorisation and its ledger posting for recon. which can be easily bypass in Indian scenario.

Good to see some banks decided to making habit for Saving rather than spend to its customers... 

Tanda kind of financial groups are prevailing in India for so many decades. Most of the businessmen have such circles. Most of them will not like to get into formal engagement.

Traditional and seasoned investment banks have proven techniques to invest in high risk, higly volatile assets with proven risk mitigation techqniues. I feel all those would have failed on their methdology as far as CryptoCurrency, thus such comments are expected.

ICICI digital business has leveraged long standing relationship with OLA - Mobile app based Taxi hailing services. 

Data sharing for co-branded products is not new in banking industry to assess customer credit worthiness.

It seems Old wine in New bottle. Bitcoin + Barter system :)

Awesome business figures by BBVA. Bank knows to drive digital sales as well as balance it with branch sales.