All posts tagged SMS

Become Educated About Breeze Mobile Banking

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When Standard Chartered Bank decided to develop a unique mobile banking solution, which would ultimately be named Breeze, they took a very different approach into the design and development. For starters, instead of offering their customers the same features and functionality seen with other mobile banking solutions, a tremendous amount of research was conducted directly with the customers. With this, bank officials were able to capture the essence of what customers wanted to see in a mobile banking application.

Beyond that, officials with Standard Chartered Bank realized that other online and mobile banking solutions simply did not provide the type and degree of security needed to keep information online safe. Obviously, if this bank was going to launch Breeze as a comprehensive solution, it had to be designed for the people and by the people, but the bank needed to put additional or different security measures in place so all personal and financial information would be protected.

Well, changes are already being seen in a new version of Breeze being called Typhoon. Standard Chartered Bank wants to be careful as they move forward with mobile banking, knowing they will continue to provide customers with the functionality and features needed to conduct personal and business banking but they also want to choose the timing for offering new versions carefully.

Additional information is important to understand, helping financial institutions identify the areas in which their system is weak. As an example, the amount of money allotted to IT departments for overall operations includes less than 5% being spent on training for security awareness. Additionally, of companies interviewed, as much as 90% stated the company had some type of computer security incident within the past 12-month period.

Because information such as this is easy to come by, it should be used by all businesses with online presence, especially for financial institutions. If more banks would conduct research and put appropriate security measures in place, incidences of cybercrime would decrease. For the people at Standard Chartered Bank, they wanted to make sure that when their mobile banking application was used on the iPhone, and soon the iPad, customers would have peace of mind knowing their information is protected. The way this was accomplished was to implement a type of second-tier protection.

The second change seen with the newer version of Breeze is that mortgage accounts, investments, and other loans can be viewed. The first version of Breeze was excellent but accountholders were not able to access accounts such as these. Now, the Typhoon version of mobile banking will be more liberal, providing the opportunity for customers to confirm the receipt of payments, changes in interest, current balances, and more.

The new version of Breeze will have another feature, allowing credit cards for paying bills. The first version was relatively flexible in this area but again, some limitations existed that have now been enhanced. The final change seen in the new version of Breeze is that customers can request to have the second, temporary password sent via SMS to the iPhone resent.

Initially, this second PIN was initiated once the bank customer logged into the Standard Chartered Bank website with the standard user name and password. From there, the customer would wait for the SMS to be received, at which time he or she would return to the site, enter the second password, and then have account access. With this change, if a customer were to log off only to remember another task needing to be done, rather than go through the entire process again, a request could be sent via Breeze on the iPhone, at which time the bank’s system would initiate a different temporary PIN. As time passes, more changes will be seen with Breeze, something of which bank customers are excited.

Finacle Mobile Banking Solution

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With mobile devices becoming integral to people’s lives, banks are seeking to leverage the ubiquity of mobile phones to create a cost-effective distribution channel, rapidly innovate, extend reach across segments and improve convenience and security of use. However, due to consumer concerns regarding security, the adoption of this channel for value-based transactions has been limited. While some consumers prefer browser-based mobile banking, others use applications that can be downloaded to create a rich interface on the handset. Additionally, the diversity of hand held devices presents a unique challenge for banks seeking to optimize services delivery across the gamut of devices and customer segments.

A truly secure mobile banking solution built on open standards, for increased agility and flexibility, can prove invaluable for banks. The solution must also intuitively address the hurdles posed by multiple form factors and access mechanisms in the mobile space.

Finacle mobile banking solution empowers retail and corporate banking customers with access to banking services through SMS, GPRS/ 3G and USSD-enabled handsets, leveraging a single platform. The solution provides a secure, multi-lingual channel for banks to innovate by easily deploying new services with improved time to market. The end user experience thus created is richer and truly convenient.

Finacle mobile banking solution integrates easily with disparate host systems, core banking solutions, payment networks and third-party applications. The solution leverages Infosys mConnect, the indigenously developed middleware, which orchestrates mobile transactions between users’ devices and the Finacle universal banking solution. Infosys mConnect handles the multiplicity of form factors and access mechanisms on multiple devices to provide a context and device independent view to the transaction server. This presents banks with a powerful channel to service customer segments ranging from the mass affluent to the under-banked or unbanked, surmounting the challenge posed by the diversity of mobile devices.

The ubiquity of the platform adequately addresses the challenges of encryption, communication, synchronization, image resizing, downloading and security. This ushers in the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs.

Customer On-boarding

Finacle mobile banking enables the bank’s existing customers to be directed to use the mobile channel for banking and payment transactions through the following modes:

Mobile banking facility requested by sending SMS request in prescribed format

Registering for mobile banking through the bank’s Internet banking site

Phone banking leveraging the bank’s tele-banking call center

Mobile Banking and Payments

Customers are enabled to perform several financial transactions on their mobile phones using multiple languages and across multiple time zones. The functional capabilities of the solution include:

Account management and requests like balance inquiry, account aggregation (within and with other banks), mini statements, among others

Term deposit and renewal

Funds transfer (self and third-party accounts with multi-currency support)

Local and international payments with support for expedited payments

Bill presentment and payment

Remote deposit capture

Account origination, Forex rates and calculators

Cheque status inquiry, cheque book requests and stop cheque requests

Customer personalization including account setup and marketing preference

Transaction approvals for corporate customers

ATM and bank branch locator

Remittance request, enquiry and statement

Peer-to-peer payments

Business-to-business payments

Contactless payments

Support for administrative tasks like secure mails to relationship manager, approvals, password/ PIN change, block credit/ debit/ ATM card, customer billing, data synchronization and self-audit

Key Modules

Mobile Financial Management

The solution offers unmatched support to manage finances on the move. This helps banking consumers make informed decisions. A comprehensive set of tools is provided to enhance financial management.

Quantitative (such as EMI calculators) and qualitative analysis tools (such as budget vs. spend analysis)

Transaction tagging

Product selectors and comparators

Virtual financial advisory services through video chat on mobile

Alerts

This module empowers customers to subscribe and receive a wide variety of mobile alerts. The solution supports both push and pull alerts along with customizable alerts via integration with Finacle alerts solution. The module also allows the customer to set preferences and limits for alerts and configure ‘do not disturb’ timings.

Value Added Services

Finacle offers a gamut of value added services that provide extended convenience and comfort to the customer. These include:

Mobile commerce

Mobile ticketing

Mobile top-up for prepaid card recharge

Mobile advertising, based on location, user profile and actions

Mobile remittances to charity causes

Mobile wallet

Demat and stock trading services

Security

Finacle mobile banking solution offers state-of-the-art security through optimized measures. The solution offers:

Two factor authentication – PIN encryption

J2ME MIDP 2.0 support for SSL/ TLS

Encryption of data stored on mobile phone

Support for binary XML

Enabling and disabling of mobile numbers

Support for additional authentication mechanism

Business Benefits

Greater Customer Convenience

Finacle mobile banking solution empowers banking customers to make informed decisions by providing them with an invaluable set of financial management tools on the mobile handset. These tools help in quantitative and qualitative analysis, as well as in the selection and comparison of financial products.

Reduced Turnaround Time

Finacle mobile banking solution has a robust integration framework which allows it to function in tandem with disparate host systems, core banking solutions, payment networks and third-party applications. This translates into reduced go-to-market time for the bank as well as support for legacy systems.

Robust Inclusivity Framework

Finacle mobile banking solution leverages Infosys mConnect to smoothly hurdle the challenges posed by the multiplicity of form factors and access mechanisms on multiple devices to provide a context-agnostic view to the transaction server. This enables banks to include, through the mobile channel, its various customer segments, ranging from the HNWI to specific unbanked communities, surmounting the complexities of diverse location and dissimilar mobile devices.

Maximize Innovation

Banks can leverage Finacle solution’s indigenously developed middleware Infosys mConnect, to configure an unlimited palette of services from any channel, to the mobile space, with ease. The need for development of new back end services is precluded due to the availability of a banking solution behind the mobile interface. Finacle also provides the flexibility to deploy services over the existing online banking platform or through a standalone delivery channel interfaced directly with the relevant host systems. This ensures the rapid delivery of a comprehensive range of financial services, embellished with new innovative features, on mobile devices.

Business Benefits

Robust Security

The solution offers extensive application security features like URL encryption, referral URL check and session management to provide a robust security framework. The solution also supports OTP (one time password), which provides a two factor authentication mechanism for users transacting with downloadable mobility client. This enables the bank to offer products that are highly secure and geared to withstand the onslaught of security threats associated with mobile transactions.

Cost Savings

The solution presents banks with the advantages of reduced integration by leveraging common interface messages, maintenance and deployment costs. This translates into significant cost savings without banks having to compromise on features or the range of devices supported. The mobile banking solution is inherently independent of the network service provider, obviating the need to build a business model that involves costs and profits sharing with them.

Customer Delight

Finacle mobile banking solution enables banks to offer the convenience of comprehensive anywhere anytime banking, using GPRS, mobile browser or SMS. It supports a wide range of mobile devices and mobile browsers. Banking customers can query on account balances and make fund transfers. Banks can also proactively send timely information to customers in a completely secure environment, whenever a customer-defined event occurs. The solution’s self-service capabilities empower customers to manage their banking activities better. The solution also addresses data transmission and storage related security concerns adequately, delivering a truly streamlined customer experience.

Things To Be Aware About Regarding Mobile Banking

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When we think of cell phones and smart phones, we think of small computer devices. They function and behave as if they are smaller computers. That is how far technology has reached to make lives of people a lot easier. In lieu with this magnificent innovation, nowadays, banking seems to be very convenient for individuals. It seems too convenient, allowing people to use their mobile phones to make quick checks in to their accounts, pay bills or just send funds. The world now embraces a new form of banking, as if online banking is not enough.

Mobile banking is a great tool. It is convenient, fast, easy and accessible. Here are some things that you might want to consider if you wish to do banking through your mobile phone.

The issue of security
There is a general consensus between banking experts that mobile banking, to some extent, is safer compared with online banking. This is true when considering the amount of security risks and malware that could infect the mobile phone. However, that is just one aspect of security and baking using your phone has other security issues. If there is computer phishing, then there is mobile smishing. This is when the person receives a fake message via SMS asking for account details. The hacker poses as a reputable bank or financing company. Do not feel like you are immune to such seemingly obvious scams. A lot of people have lost money from such tricks.

Phone being stolen.

If you lost your phone or it was taken from you by a robber, even if passwords are necessary, when it comes to mobile banking, most users tend to apply easy to break passwords so that banking can be easy. With such ease in technological use, the account holders must always use stronger passwords because this is the only tough thing that you can do so that no sneaky individual can guess your banking details.

Compatibility
Most banks only have their mobile services offered to those clients with smart phones. These are specially made applications that can be used to make the most out of your mobile use. Those old, outdated phones are not supported and sometimes, even if banks allow, they are only limited for account balance checking only.

There are additional fees when doing your transactions via SMS. Compared to online options, they are virtually pricey because you have to pay for every text message that you send to handle banking. In some cases, those that use specialized software will have to ask for a fee.

Precautions about Net Banking

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Net Banking has become steadily popular over the past few years. People are using it to shop online, to book rail and air tickets and transfer money across cities and countries. But simultaneously with the increase in the use of net banking the incidents of cyber crimes also have registered a continuous growth. Many times money is transferred illegally from the bank accounts without the knowledge and permission of the owner.

Net Banking is a facility on the internet to operate ones account. To use this facility the customers arrive at the website of the bank where they have got their accounts. By entering a Username and Password they can access their own account and by using yet another password can transfer money in or out of that account. But before using Net Banking it is always necessary to read all the instructions of that particular bank. Guidelines of all banks are not similar and there are minute but important differences. Therefore, it is necessary to read them carefully.

Many people consider the Net Banking like the normal banking. But no, it is very different and one needs to be extra careful. It is necessary to check your internet banking account at regular intervals. The intervals can be every two or three days or at the most one or two weeks. If you do not check your account for a long time, you may not come to know of what is happening to it. If you find any discrepancy, inform the bank authorities at once.

Please note that the banks do not consider them responsible for any thing happening to your account as a result of the activities of the unauthorized operators who are called hackers. Moreover, no insurance is available in this regard. The Banks say that appropriate upgradations are carried out from time to time by their IT departments for risk mitigation. They also issue instructions to the customers to manage their accounts through virtual key boards by way of which the characters typed by them are not identified by the hackers. Many banks send their account holders SMSs regarding any activity taking place at their account. SMS alerts are also an important tool since any transaction carried out on account is reported to the account holder through as SMS.

If you use any website for the purpose of shopping or transferring money, first make inquiries about the reliability of that website. This information can be had from seeing the internet address of the web site or by asking from any computer expert. Make sure that you write down the internet address of that particular site correctly.

Make sure that you use your own computer or lap top for the Net Banking purposes. Never use cyber cafes for net banking. If you had to use some other computer for the purpose of Net Banking, change your password immediately. Moreover, never forget to log out the site you used for Net Banking.

All this care is necessary because the internet frauds are increasing at an alarming rates. In the internet terminology these frauds are known as Phishing. In phishing, a persons personal details are obtained by fraudsters posing as bankers, who float a site similar to that of the persons bank. The customers are asked to provide all personal information about themselves and their account to that website on the pretext of databases upgradation. The number and password are then used to carry out transactions on their behalf without their knowledge. Regular e-mail users might have already noticed subjects or mails with messages such as:” Verify your account”, ” You have won the lottery “, ” if you dont respond within 48 hours, your account will be closed, ” security advisory”, ” 2008 A Category results” and the like. You could even receive an e mail purportedly from your bank, software vendor, or an online portal asking you to update your credit card information. Never respond to such mails and call your bank or vendor to make sure they have asked this information. Make one rule, never respond to such e mails.

Sometimes, the fraudsters indulge in hacking in which personal data is stolen through hacking. Hacking is an act in which the cyber criminal steals information stored or transacted in any computer. Sometimes. A spy ware is installed in the computer to steal the information and gain access to all files. The hacker gets in to the system with the help of spyware and steals information. The hacker is always on the lookout for unsecured systems and files. The spyware usually comes in the form of a virus. This spy transports all files pertaining to bank accounts to the hacker. Therefore, it is advisable not to store much information about your accounts on your computer or e mail which is unsecured. Generally , an accepted method of keeping the hackers at bay is frequently changing passwords. This however is not enough. One should make sure that the net connection is secure. Unsecure Wifi and broadband connections can be misused by professional hackers to obtain confidential details regarding an account. The best way is to operate your account at home or on a personal computer.

There are a few other things you can do. Get the latest version of the Antivirus and Internet security suite. Please dont buy a pirated CD. The anti virus soft wares have the anti phishing filters built in. Moreover, get the latest version of the Internet Explorer and Firefox. Both have an internal anti phishing engine built in to alert you when you are on a site that steals data.

In short, it is always advisable to use the following precautions while using Internet for any kind of transaction involving money.

Net Banking has become steadily popular over the past few years.
But simultaneously with the increase in the use of net banking the incidents of cyber crimes also have registered a continuous growth.
Use your home computer or lap top for the Net Banking.
Never use cyber caf for the Net Banking.
Put password on your computer as well and also the screen saver password.
Check your account regularly.
Install a good fire wall in your computer. It would make hacking difficult.
Always log out after using net banking.
Never reveal password to anyone. Do not even write it on a piece of paper or diary. Just memorize it. It should be alphanumeric. Change it frequently.
Never reply to queries from bank online about account or personal details.
The personal information should not be kept in a public computer or in e-mails.
Before using Net Banking it is necessary to read all the instruction of the bank.
Use the SMS alerts facility of the bank as any transaction carried out on the account is reported to the account holder through SMS.
If you use any website for the purpose of shopping or transferring money, first make inquiries about the reliability of that website. ( The End)
By: Iqbal Amrohi

Creating An Outstanding Investment Banking Cover Letter To Accompany An Investment Banking F

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In todays economic crisis, it may seem as though investment banking may not be the best career choice. However, nothing could be further from the truth. While many companies are turning to layoffs and cutbacks, the investment banking industry is still recruiting people. There will always be a need for investment bankers and other financial officers. If you are interested in finding a career in investment banking, Helpmegetajob can help.

In the United Kingdom, unless you have outstanding interview skills, a flawless investment banking cover letter and resume, and correctly complete an investment banking application form, its probably likely that you wont the job. So where do you find the information you need to correct these problems in order to put your name at the top of the list of potential applicants? Helpmegetajob is the answer.

This website is dedicated to helping people in the UK find an investment banking job. There are tips, techniques, seminars, and coaching programmes to help you succeed in finding the perfect job. The site is very easy to use and offers a great deal of information.

One of the best sections of the site lists the available seminars and courses. These are taught by leading professionals in the banking industry, as well as some of the people that actually do the hiring in many of the financial businesses. They know what mistakes applicants make and can tell you how to avoid them. One of the seminars will explain in detail the best way to complete an investment banking application form. It will also teach you how to create the perfect investment banking cover letter to get you noticed by potential employers.

Another seminar deals with how to find a job in the commodities market. While many industries are laying off due to the economy, the commodities industry is looking for people to hire. This course explains what these companies are looking for and how to make you the best possible candidate for the job.

If you are in need of guidance, Helpmegetdajob can help you as well. Elite Investment Banking Coaching Programme put you in touch with your own personal coach. After an initial one-on-one meeting, you will know what your specific goals are and how to create a plan to achieve them. You will also have support through email, phone, and SMS. You will be able to attend two seminars of your choice and you will receive two books that will help you realize your self-worth.

There is a terrific section with valuable links to other websites that can offer you assistance as well. For the times that you are frustrated, take a look at Al Pacinos very inspirational speech. You can watch an interview with one of the most powerful and wealthiest men in the world, Sir Richard Branson.

This resource section will also give you the tips you need to have a successful interview, as well as an eye-catching investment banking application form. There are checklists for creating a convincing investment banking cover letter. You simply wont find a better site to help you get started in the right direction towards an investment banking career.

Helpmegetajob is your one stop for learning what it takes to succeed in the banking and financial world. While this career choice isnt for everyone, for those who dedicate the time to learn correctly, this can provide a very profitable and challenging career.

Few things are more important when you are looking for a career in the investment banking world than investment banking cover letter and an investment banking application form. Make sure these are correct or you may not even get an interview.