Biometric Authentication is the way forward to provide priviliedge to the user to transact his accounts. There are several forms of it and comes with it's own limitations and unique usage.d
It's good that HSBC has take it in right sense and fine tuned it but it shows that, speech verification has it's own vulnerabilities while implementing it. If more services need to be allowed than it's better to have multiple factors for authentication ( it may cost trade off with usability and convenience).
19 May 2017 11:46 Read comment
Time has come that, banks in India can take page of learning from Sweden where in vendor agnostic software is getting deployed to wipte out more than 20 different version of ATM software by common technology platform SIX.
Ofcourse, project has just begain with Two big banks Credit Suisse and UBS and more to follow but prospects are good.
India has bigger challenge which SIX as well as biometric Authentication version of EMV kind of initative can take care i.e. making ATMs Aadhaar enabled for Card less ATM transactions in terms of ATM software and back end authentication upgrade.
16 May 2017 12:05 Read comment
E-mmail Phishing used by Cyberhackers steal user ID and Password using those similer typo domain wiith brilliant combination of brand, logo usage for so many years.
Even login page also looks alike for bank customers landing into it.
Solution suggestd"£12 per year per domain" is not peancea to the issue. It is like controlling dam water downstream after free flow.
Why it can not be controlled at Apex level i.e.
1. central registry of website being build by regulator in respective country where in each bank has to register it's domain name.
2. On registration, this registry will build unique tiny banner which will float on Bank's URL.
3. Bank has to educate customer to look for such banner for authenticity before login to avoid those e-mail phishing and other such technique.
4. Paying per year fix fee is worth rather than spending on those type domains.
03 May 2017 13:35 Read comment
Video clip is not very clearly showing transaction authenticated and completed !!
26 Apr 2017 10:57 Read comment
Happy to see FinTech entering into place where win proposition for banks as well as retailers with new proposition to bank's customers.
Online statement services by bank will become more interesting space !!! Flux really in process of converting 100 BC paper print into 21st Century sales tool :)
24 Apr 2017 12:10 Read comment
It seems to be classic development of collobration of universal bank ( BNP Paribas) with CarreFour Retailer to get into Financial inclusion.
21 Mar 2017 13:43 Read comment
@Dean, Starbucks/Square, iZettle are also good model which delivers value for small and medium size merchants but, Chase getting into CurrentC is good move. In fact, MCX was started with semi-close loop setup so Chase would have liked it.
Hope to see NFC movement ahead with Chase.
13 Mar 2017 14:28 Read comment
Very Interesting observation in post, China faces Yuan devalue so exploring cryptocurrency so that like Bitcoin it can appreciate :) where as US wants to ensure it's fiat currency can stay for more time :D
[PS: No personal offence towards any country or economy]
07 Mar 2017 15:13 Read comment
Yes you are right in recent press release it's not clear but Dec 2016 gives impression that, merchant onboarding will be needed.
In last few months, I had serveral interactions with small retailers through some of POS/mPOS based service providers.
These merchants have expressed several services including willingness to engage with multiple companies e.g. Merchant has sign up with Suvidha which is offering mPOS also at the same time he also becomes Airtel Payments bank outlet as well as offered by IDFC bank to put up mini branch. Atleast demand side, flexibility can be expected so left to banks and service providers to give good proposition ( I also read about RBI reducing MDR so sure something need to be done differently to monitise the merchant services).
21 Feb 2017 19:12 Read comment
Defaulter of P2P Lending has several reasons one of it can be Credit risk predictive engine used. If risk profile of borrower is misleading due to weakness in calculating and attaching risks - most may land into such issue. How efficiently Lender is being educated to evalute and authenticate borrower is yet to be known!
How Custodian bank will control such loopholes?
21 Feb 2017 18:46 Read comment
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