India offers smart card banking
India offers smart card banking
Indian Bank is launching biometric smart card banking and aims to bring banking to previously unbanked areas, says MoneyControl.com.
The smart card will act as a bank card using the user's fingerprint as a password. The card also stores all transactions.
The card will be enabled by the bank's mobile banking operator and the cardholder can then use a point of transaction machine.
Mobile banking slow in US
Of the 240 million mobile phone users in the US, only 400 000 are utilising mobile banking, says PC World.
The technology is being adopted slowly due to efforts from the 15 largest banks. Surveys show people would adopt mobile banking if they had good security, a broad range of devices and a user-friendly experience.
The most common approach is for users to access banking applications on their phones, although some encourage customers to load financial software on their devices.
Tata sells banking software
Tata Consultancy Services has introduced a new division to supply IT solutions to financial institutions, says Computer Business Review Online.
Tata will amalgamate its existing insurance and banking applications, including its BANCS system, acquired from Australia's Financial Network Services.
The BANCS system incorporates general ledger accounting and debt collection. The system is currently in place in 214 financial institutions.