emerging technologies in banking

Emerging Technologies Emerging Technologies In BankingIn Banking

Presented by

Febin Francis.P- 2672579Dinesh Ravindran- 2672580Bhupinder Varaich- 2656725Harvinder Kaur- 2672572

OverviewOverviewIntroductionVoice Vault

◦Key characteristics◦Business justification◦Future prospects

ViVOtech◦Key characteristics◦Business justification◦Future prospects

IntroductionIntroduction

Commonwealth bank of Australia

#1 financial institution

Uses advanced technologies for customer satisfactions

◦ Net banking◦ Tele banking◦ E-cheques◦ E-money

Introduction cont...Introduction cont...Usage of advanced technologiesEnhances customer convenienceTransaction speedEfficiencyEffectivenessFurther more advancement

◦Voice Vault - Biometrics◦ViVOtech - NFC

Voice VaultVoice Vault

Unique Biometric technologySpoken word to verify identityOver the phone or webAccurate, fast, convenient cost effectiveEffortless and secure

Voice VaultVoice VaultSpoken Word to verify identityThe unique characteristics of

◦Diaphragm◦Mouth ◦Nasal◦Sinus cavities influences the sound

Sophisticated algorithm measures the soundConverted into unique digital representation

– Voiceprint

Voice VaultVoice Vault

Voiceprint comparisonVoice filterAs based on the sound, Voice Vault can

work over – ◦Telephone◦Web

Works across all types of phones

How it works?How it works?

How it works?How it works?

How it works?How it works?

Key characteristicsKey characteristics

Easy to useMultifactor authenticationHigher degree of certaintyTwo factor authenticationSpoken number verificationChallenge response

Business justificationBusiness justification

Boosts banking securityImproves authentication processThrough internet or phoneCost effective, convenient for customers,

high level of security and privacycombat identity thieves and phishing

expeditions

Future prospectsFuture prospects

Calculates the stress levelVoice verification on the time of

◦Ill◦Voice loss

Alternative accessPeople have little confidence in pin &

password access50% needs complex mechanism

ViVOtechViVOtech

End-to-end transaction platformContactless payment techniqueUses NFC3rd generation payment system‘Tap and Go’ mechanismMobile phone payment solution

Key characteristicsKey characteristics

ConvenientFastSecureEasy to useSupports all global standardsCryptographic, authentication, and

wireless communication technologies

BenefitsBenefits

Increased revenueOperational savings and efficiencyIncreased customer loyaltyStronger customer relationReplace cash and associated feesBigger transactions

Business justificationBusiness justification

Opportunity to improve customer convenience

Creates new service modelEnhance its credit as well debit card

transaction volume23% of cash transactions are replaced by

contactless paymentsReduced work loadQuicker than cash and safer than cheques

Future aspectsFuture aspects

Trendy technology for mobile phone services

Organizations will advance globallyMay be used irrespective of locationAdvanced purchasing

Future aspectsFuture aspects

ConclusionConclusion

Potential applicationsGreater comfort and satisfactionCope up with high level of competitionMaintain high level of securitymanipulated to more convenient ones Conquering new threats