Retail Financial Services

7/29/2019 Retail Financial Services

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Retail Financial Services

JMJ


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Contents


o Credit Cards

o Debit Cards

o Smart Cards

o Automated Teller Machines

o Electronic Fund Transfero Electronic Clearing

o Portfolio Management Services

o Broking Services

o Consumer Credit

o Hire Purchase Finance

o Housing Finance

o Personal Tax Counseling

o Internet Banking

o Virtual Banking


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The retail financial services (RFS) sector covers

all banking, insurance and wealth management

services to individuals and small businesses.

It helps to meet the financial needs of

consumers and small businesses.

The retail financial services market is having apotential $30 billion and it is regarded as the key

driver to the Indian economy.


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Retail Financial services are.

oCredit cards

oDebit cards

o Smart cards

oAutomated Teller

Machines

oElectronic Fund Transfer

oElectronic Clearing

oPortfolio Management

Services

oBroking Services

oConsumer Credit

oHire Purchase Finance

oHousing Finance

oPersonal Tax

Counseling

o Internet Banking

oVirtual Banking


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JMJ

Credit Cards


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What is Credit card?

A credit card is a card or mechanism which enables

cardholders to purchase goods, travel and dine in a

hotel without making immediate payments.

It is a part of a system of payments named after the

small plastic card issued to users(Cardholders) of

the system. The issuer of the card grants a line ofcredit to the user from which he/she can borrow

money for payment to a merchant(Member

establishment) or as a cash advance to the user.


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Parties to a Credit Card

Issuer: Bank or other card

issuing organisations

Cardholders: Individuals,

corporate bodies, etc

Member Establishments:

Shops and service

organisations enlisted byissuer who accept credit cardsMember

Affiliate:

Visa, Master

Card, etc


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Procedure of credit card operation

The card holder gives the card to the merchant afterthe purchase of something.

She/he after proper verification swipe it with the

card payment terminal.

After electronic verification n account adjustments,

a charge slip in triplicate is being generated, one

copy to customer, one to merchant, one to bank. The one copy of charge slip will be signed by the

user for further verification n kept with merchant.

Happy User. Happy Seller Happy Banker..!


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How it works?


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Types of Credit Cards

1. Credit Card

Normal card, can purchase without cash n canwithdraw money.

Revolving credit principle

A limit in the amount that can be spend, up to 45 daysof credit, interest on outstanding ( 30 -36 % /annum)

2. Charge Card

Convenient means of payment for goods purchased. Makes purchase, consolidated bill for a specific period.

Bills are payable in full on presentation.

No interest charges, no limits on spending

Andhra bank, BOB, Can, Diners club card etc


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3. In-Store Card Issued by retailers or companies, but purchase restricted to

issuers outlets or products only.

Payment on monthly or extended credit basis, but interest ischarged for extended period.

Usually issued by hotels, resorts, petroleum Cos, etc

4. Corporate Credit Cards Issued to public, private limited Cos and public sector units.

Add-on cards can be issued to persons authorized by company. Name of the Co 'will be endorsed on add-on cards.

Transactions on add-on cards are also billed to main card anddebits are made to companys account.


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5. Business Cards Similar to corporate card.

Meant for the use of proprietary concerns, firms, etc.

Limit is fixed based on status of firms.

6. Virtual card Main purpose is to provide security.

Can be generated by anybody at any time if he has alreadyregistered his name in Banks website.

Lapses after use and cant be revised.

Completely prevents misuse and offered to existing card

holders free of cost.


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Benefits of Credit card

To card holders:

Simple to operate and easy to carry. No risk of carrying

cash or cheque book . Purchase now- Payment later.

Can also be used as ATM card.

Overdraft facility is also available on past credit rating.

Purchasing power increases and have extra money free

of interest.

Provides certain level of prestige.


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To issuers:

Offers high profit- Commission of 2.5% on sales, 1.5%

on outstanding, and sometimes may accumulates to60% per annum.

May help to get new customers

Helps to reduce cost


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To Member Establishments:

Has guarantee of payment and no bad debts.

Speedy settlement of bills by banks and a good cashflow can be maintained.

Reduces cash security risk.

Can offer credit facility without setting up own credit

arrangements.

Helps to increase volume of business.


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Demerits of Credit card

To Card Holders:

May have the burden of service charge, annual fee,membership fee, etc.

A minimum of 5-10% have to paid for the late payment.

Heavy interest rate for defaulters n some hiddencharges may occur.

May tempt the holders to spend more than their

income and repaying capacity.


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To issuers:

Cost involved is high- Cost of card, cost of staff toprocess applications, cost of placing and marketing, etc

The menace of frauds perpetuated by holders of fake

cards.

Disputes with member establishments.

Underutilisation.


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To Member Establishment:

The commission to be paid to the issuing banks/ creditcard organisation is heavy.

Some banks may delay in payments.


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Debit Cards


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What is Debit card?

It is a plastic card which provides an alternativepayment method to cash when making purchases.

The holder needs to have a bank account to getdebit card.

Used widely for telephone and Internet purchases.

It also allow for instant withdrawal of cash, acting as

the ATM card for withdrawing cash


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After purchase the card holder can present the card

to the merchant.

Hell swipe card at terminal known as Point of SaleTerminal and the holder may be asked to enter the

4 digit PIN.

After further electronic processing, a sales slip will

be generated in 3 copies as in credit card.

The purchase amount will be automatically

deducted from the bank account.

Procedure of operation


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Benefits of Debit card

No need to carry cash.

Obtaining a debit card is easier than credit card.

More security than Credit card. Avoids overdraft, permits to purchase only up to

amount available in account.

No service charge, fee, fine etc

No worry of credit, monthly bills, payments etc.


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Demerits of Debit card

Record keeping is mandatory

Convenience is not always guaranteed

Hidden fees Internet scams

Fear of loosing

Some ATM machines charge a fee for use.

No way to withhold payment.


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Difference between Credit Card and Debit

Card

Credit Card

1. Pay later Product

2. Credit for 30 to 40 days

3. No need of sophisticated

telecommunication system

4. No need of bank accountand balance in it.

5. Possibility of risk of fraud is

high.

Debit Card

1. Pay now Product

2. No Credit, Amount

debited immediately.3. Needs sophisticated

communication network

4. Needs bank account andsufficient balance in it.

5. Risk is minimized through

PIN.


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Smart Cards


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Smart cards

A smart card, chip card, or integrated circuit card(ICC), is any pocket-sized card with embedded

integrated circuits which can process data.

Two broad categories of ICCs.

Memory cards: Contain only non-volatile

memory storage components, and perhaps some

specific security logic.Microprocessor: Contain volatile memory and

microprocessor components.


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It can receive input and can deliver output.

The card is made of plastic, generally PVC.

It has a hologram to avoid counterfeit ( imitation)

Eg: SIM cards in mobile E.g HDFC

Smart cards


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Applications of Smart cards

Computer securitySmart cards are used to securely hold encryption

keys, and also to add another layer of encryption tocritical parts of the secured disk.

Financial ApplicationsATM cards, fuel cards, SIMs for mobile phones,

authorization cards for pay television, high-securityidentification and access-control cards, and publictransport and public phone payment cards

Identification

Smart cards are used for authentication of identity.

Entry cards, Licenses, etc


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Benefits of Smart cards

It can be readily reconfigured Reusable

Transactions can be done off and on-line

Gives more security, thus reducing the risk oftransaction fraud

High memory capabilities

They are much more durable and reliable

They allow multiple applications to be stored in onecard.

It is more convenient, since people don't have to carry

cash or multiple cards.


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Demerits of Smart cards

Fees applied with the use of a card

It gives liability issues if stolen or lost

Lack of technology to support users

It is potential for too much data on one card if lost

or stolen


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Automated Teller Machine

Automated Teller Machine(ATM) is an

electronic machine which is operated by the

customer himself to make deposits withdrawals

and other financial transactions


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Merits Round the clock quick service to the

customers

There is ease and privacy of operations Self operating and no need for bank

staff

Free from human errors

Cost of maintenance of ATM is lesser

Reduces rush in bank


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Demerits

Initial set up cost is high

This system demands a higher degree of

sophistication and literacy on the part of users

Cash dispensation is limited to a few

denominations.


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History

Invented by Scot John Shepherd-Barron.

The world's first ATM was installed in a branch ofBarclays in the northern London

De La Rue developed the first electronic ATM First person to use-Reg Wamey

The first ATMs accepted only a single-use token orvoucher

The idea of a PIN stored on the card was developedby the British engineer John Rose in 1965

Wide UK use in 1973

IBM 2984 CIT (Cash Issuing Terminal) was the firsttrue Cashpoint, similar in function to today's


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Location

Bank premises

Public places

Two typeso On premises-complement to an actual bank

branchs capability.

o Off premise-for straight need of cash.


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Alternative uses

Deposit currency recognition, acceptance, and recycling

Paying routine bills, fees, and taxes (utilities, phone bills, social security,legal fees, taxes, etc.)

Printing bank statements

Updating passbooks

Loading monetary value into stored value cards

Purchasing

Games and promotional feature

Donating to charities

Cheque Processing Module In Australia, Belgium, Cook Islands, Finland, Germany, Ireland, India, Italy,

New Zealand, Portugal, South Africa, Spain and the United Kingdom, pre-paid cell phones can be recharged through some ATMs

ATMs can also act as an advertising channel for companies to advertise

their own products or third-party products and services.
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Electronic funds transfer

Electronic funds transfer or EFT refers tothe computer-based systems used to perform

financial transactions electronically.


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Features

Customer can deposit, withdraw and deal with

any branch.

Transfer with the help of plastic cards

cardholder-initiated transactions, where a

cardholder makes use of a payment card

electronic payments by businesses, including

salary payments

electronic check (or cheque) clearing
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Card-based EFT

EFT may be initiated by a cardholder when a payment cardsuch as a credit card or debit card is used

Transaction types

Sale

Withdrawal

Deposit

Cash back

Inter account transfer

Payment Inquiry
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Many banks are replacing traditional checks

and deposit slips with electronic fund transfer

(EFT) systems, which utilize sophisticated

computer technology to facilitate banking and

payment needs.

Routine banking by means of EFT is

considered safer, easier, and more convenientfor customers.

Electronic Banking


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Electronic Clearing Service

Electronic Clearing Service is a mode of

electronic funds transfer from one bank

account to another bank account using the

services of a Clearing House set up by Reserve

Bank of India
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The advantages to the banks

Banks handling ECS get freed of paper handling.

Paper handling also creates lot of pressure on banksas they have to encode the instruments, present

them in clearing, monitor their return and follow upwith the concerned bank and customers.

In ECS banks simply get the payment particularsrelating to their customers. All they need to do is to

match the account particulars like name, a/c numberand credit the proceeds

Wherever the details do not match, they have toreturn it back, as per the procedure

S h b fi h ECS lik


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Scheme benefit the ECS users -like

corporate bodies/ institutions

The ECS user saves on administrative machineryfor collecting the cheques, monitoring theirrealization and reconciliation

Better cash management.

Avoids chances of frauds due to fraudulent accessto the paper instruments and encashment.

Realize the payments on a single date instead of

fractured receipt of payments. Ability to make payment and ensure that the

beneficiaries' account gets credited on adesignated date.


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Participants in the ECS debit scheme

Telephone companies

Electricity supplying companies

Electricity boards Credit card collections

Collection of loan installments by banks and

financial institutions


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PORTFOLIO MANAGEMENT SERVICES


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PORTFOLIO MANAGEMENT

Portfolio management is essentially asystematic method of managing one'sinvestment efficiently.

Rather than investing the entiresavings in a single security, they investin a group of securities. Such a group

of securities is called a portfolio.

SCOPE OF PORTFOLIO MANAGEMENT


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SCOPE OF PORTFOLIO MANAGEMENT

SERVICES

Portfolio management services refers to those servicesprovided to the investors where in the agency takes theresponsibility of using the funds effectively for maximumresults.

The agency converts the fund into compatible portfolioson the basis of the objectives and the constraints of theinvestor.

It continuously evaluates and makes necessaryadjustments for better results.


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Portfolio management begins with thediscussion of the investors objectives,constraints and preferences and their

relationship with the available investmentopportunities.

This leads to a well defined portfolio policyand strategy statements on the allocation of

funds among various types of assets ,timing ofinvestments and disinvestments.


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TYPES OF PMS

The PMS being offered by the industry can beclassified into three types. The services differ

on the basis of the discretion lying with thefirm in managing the portfolio.

1.Non-discretionary PMS

2.Delegated Investment management. 3. Optional .


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Non-discretionary PMS:

This service is targeted towards investors who

would like to make their own decisions

regarding the use of their funds-these are

generally large portfolio owners.

The role of the firm is in the execution of the

order of the investor.


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Delegated Investment management:

This discretionary service is for clients who

would leave the management of their

portfolios to the firm.

This service is more attractive to the provider

as this gives the firm a freedom to use its

knowledge and judgment.

The client is interested in better return/

performance of the portfolio.


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Optional

In this kind of service the provider offers a non discretionary PMS in the beginning and it gainsexpertise and develops in infrastructure, it can

offer any of the two types stated above to theclients depending on their choice.

The firms also provides several additional services

e.g tax counseling sessions, borrowing against

securities, temporary overdraft facility, across thecounter facility and quarterly meetings of investors.


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PORTFOLIO MANAGEMENT

Return on Investment: Although the RBI guidelines donot permit the provision of any guaranteed return onsecurity of the principal, the firms offer a return of 14-35% to the clients. The return from the clients portfolio

depends on the tenure of association and the marketindex.

Fee Charged: A variety of arrangements exist between

the portfolio manages and their clients with regard othe fee charged. Some assure a minimum certain rateof return and no fee is charged unless this return isgenerated for the clients.


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Lock-in period: This period varies from three months to two years.

Some firms also provide the service without such restrictions .

Investments: Portfolio managers favor the investment of the

funds in a mix of money and capital market instruments. Thechoice of the instruments depends on the tax liability and the risk

profile of the clients.

Interface with Clients: The intensity of the interface isdetermined by the type of PMS acquired by the client. In the case

of a non-discretionary PMS, the interaction is limited to the

provision of regular information about the status of the clients

portfolio


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Interface with Brokers and Stock Exchange: Portfolio managers

take the services of brokers for a better investment of funds.

Many firms have in house brokers. Others take help from a

panel of approved brokers.

Maintenance of Accounts: Under the RBI guidelines on Portfolio

Management, the firms have to maintain separate accounts for

each client. This is followed due to the implications of theprovisions of the Income Tax Act and the Companies Act. Public

sector mutual funds have been exempted from income tax and

the proceedings out of the funds can be distributed among the

investors.


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PMS- offered by entities with SEBI registration

INDIA- offered by Asset Management companies & brokerage

houses


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Reliance Portfolio Management

Enam Asset Management,

PruICICI Asset Management

J M Morgan Stanley Retail


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STOCK BROKING SERVICES


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STOCK BROKING SERVICES

Stock broker

A stock broker is a regulated

professional who buys and sells sharesand other securities through marketmakers on behalf ofinvestors.

There are two types of Stock Brokers:

Full Service Stock Brokers Discount Stock Brokers
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Full Service Stock Brokers

Full service brokers will give you advice and investment

recommendationsThese firms usually have full-time research departments

and investment analysts who provide information the

firm's brokers share with clients

have very high commission fees and are usually onlysuitable for investors who have a great deal of money to

invest and who do few trades


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Discount Stock Brokers

Discount brokers can answer any investment questions

you may have, but they offer fewer personalized

services for their clients Making stock recommendations or giving you

portfolio advice.

These are the brokers that advices trade with very

low trade commission feesWhen you buy or sell stock, you will be paying this

lower commission rate, which results in the investor,

making more money.

S i


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Services

There are three types of stock broking service.

Execution-only, which means that the broker will onlycarry out the client's instructions to buy or sell.

Advisory dealing, where the broker advises the clienton which shares to buy and sell, but leaves the finaldecision to the investor.

Discretionary dealing, where the stockbrokerascertains the client's investment objectives and then

makes all dealing decisions on the client's behalf.


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Brokerage terms

Front office : This is a description of the part

of a brokerage firm that is "client facing".

The sales staff, brokers and traders are part of

the front office.

Functions of the front office include

acquisition and entry of orders, fulfillment of

the orders, and all the regulatory reporting for

the orders.
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Back office: The back office is where theclearance processing of the trade is done.

Transfer of securities and money and the

tracking of "failure to deliver" is handled. Securities lending for a brokerage firm,

wherein shares of a security that is being sold

short are located to ensure they can bedelivered, is usually included in the back officeas well.
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Bulls: A bull is a term used in the stock

exchange market to refer to a stock market

optimist who believes that share prices are

likely to go higher, and who acts according to

his investment operations.
http://en.wikipedia.org/wiki/Bullshttp://en.wikipedia.org/wiki/Bulls


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CONSUMER CREDIT

CONSUMER CREDIT


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CONSUMER CREDIT

Consumer credit includes all assetbased financingplans offered to primarily individuals to acquiredurable consumer goods.

In a consumer credit transaction, the individual-consumer-buyer pays a fraction of the cash purchaseat the time of the delivery of the asset and pays thebalance with interest over a specified period of time.The main suppliers of consumer credit are

foreign/multinational banks, commercial banks andfinance companies.

There is no specific legislation to regulate consumer

credit in India.


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SALIENT FEATURES

The salient features of consumer credit are:

1.Parties to the transaction

2.Structure of the transaction

3.Mode of payment

4.Repayment period and rate of interest

5.Security


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Parties to the transaction

The parties to a consumer credit transaction

depends upon the nature of the transaction.

In a bipartite arrangement, there are two

parties, namely, borrower-cum-customer and

dealer-cum-financier.

In a tripartite arrangement, the parties are

dealer , financier and the customer. The dealer

in this type of arrangement arranges the credit

from the financier.

Structure of the transaction


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Structure of the transaction

A consumer credit arrangement can be structured in three

ways.

Hire-purchase:A method of buying goods through making

instalment payments over time.

The term hire purchase originated in the U.K

similar to what are called "rent-to-own" arrangements in the

United States.

Under a hire purchase contract, the buyer is leasing the goods

and does not obtain ownership until the full amount of the

contract is paid.

Can buy goods on full payment


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Conditional sale: The ownership is nottransferred to the customer until the total

purchase price including the credit charge is

priced. The consumer cannot terminate the agreement

before the payment of the full price.

Credit sale: The ownership is transferred to thecustomer on the payment of the first installment.

He cannot cancel the agreement.


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Mode of payment

The consumer credit arrangements fall into

two groups:

Down payment schemes

Deposit-linked schemes


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Repayment period and rate of interest: The

repayment period ranges between 12-60 monthly

installments. The rate of interest is normally

expressed at a flat rate.

Security:It is generally in the form of a first charge on

the asset. The consumer cannot

sell/pledge/hypothecate the asset.


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HIRE PURCHASE

FINANCE

Introduction


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Hire purchase is a method of selling goods.

Creditor and Hirer

Singer Manufacturing Company started the hire

purchase agreement.

The organized sector and the unorganized

sector are engaged in the hire purchase

business

Introduction

FEATURES


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FEATURES

Each installment is treated as hire charges

The buyer takes possession of goods immediately and

agrees to pay the total price in installments.

Ownership of goods passes from the seller to thebuyer on the payment of the installment

The buyer makes any default in the payment of anyinstallment the seller has the right to repossess thegoods the from the buyer and forfeit the amount


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The hirer has the right to terminate the agreementany time before the property passes

He has the option to return the goods in which casehe need not pay installments falling due thereafter.

DEFINITION

The Hire Purchase Act, 1972 defines a hire purchaseagreement as, an agreement under which goods arelet on hire and under which the hirer has an optionto purchase them in accordance with the terms ofagreement under which:


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Specified period for payment

Each installment is treated as hire charges

Ownership of the goods transferred only after the

payment of installment.

Possession is delivered to the purchaser at the time

of entering into a contract.

Right to repossess the goods and forfeit amountalready received treating it as hire charges.

Right to terminate the agreement.


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HIRE PURCHASE AGREEMENT

Creditor and hirer

Sufficient description about the goods

Price of goods

Date of commencement of agreement

No: of installment, amount, and due date


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HIRE PURCHASE AND CREDIT SALE

In hire purchase until the last payment the

ownership remains with the seller.

In credit sale the title in the property is

transferred to the purchase simultaneously.


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Hire purchase and installment sale

In case of hire purchase the ownership of goods is

delivered only after the last payment and the right to

repossess the goods.

In case of installment system the ownership of the

goods and the possession of the goods transferred

immediately and the right of disposing of the goods.


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BANKS CREDIT FOR HIRE PURCHASE BUSINESS

The subsidiary of commercial banks lend to the

dealer or to finance intermediary who has

already financed articles sold by the dealer to

the hirer under a hire-purchase contract.

Procedures are:

Customer

Purpose


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Amount

Period

Repayment

Security

Monitoring and Control

H i Fi S


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Housing Finance System

The Central Government has set up Housing

and Urban Development Corporation

(HUDCO) to finance and undertake housingand urban development programmers,

development of land for satellite towns,

besides setting up of a building materialsindustries.


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Objectives

to provide long-term finance for construction

of houses for residential purpose and urban

development programmers

To finance or undertake the setting-up of new

satellite towns.

To finance or undertake the setting-up of the

building materials industries.

C ti


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Conti

The principle mandate of the HUDCO was to

ameliorate the housing conditions of the low

income group (LIG) and economically weaker

sections (EWS).


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The HUDCO was established with an equity baseof Rs2 crores.

They extends assistance, benefiting masses inurban and rural areas, under a broad spectrum of

programmes.They are

Housing :- Rural housing, cooperative housing,urban employment through housing and shelterup gradation


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Infrastructure

Land acquisition, basic sanitation and

environmental improvement of slums.

Consultancy Services

Building centers for technology transfer,

building materials industries and building

technology.


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Training

Training in human settlements and technical

assistance to all borrowing agencies.

The LIC and GIC support housing activity both

directly or indirectly.


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Commercial banksAccording to RBI guidelines, scheduled commercial banksare required to allocate 1.5% of their incremental depositsfor disbursing as housing finance every year.

Cooperative Banks

Consists of state cooperative banks, District CentralCooperative banks ,finance by individuals, cooperativegroup housing societies

Specialized Housing Finance Institutions

- Caters only to the need of housing sector- -e.g HDFC ltd


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Internet banking


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Internet banking(on line banking) allows

customers to conduct financial transactions on

a secure website operated by their retail or

virtual bank, credit union or building society.

Internet banking involves use of Internet for

delivery of banking products & services

Internet banking is increasingly becoming a"need to have" than a "nice to have" service.


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Internet banking is one more channel, onemore access point like an automated tellermachine or a call centre from where a

customer can transact business for whichearlier he used to go to a bank branch.

Internet is the cheapest of all banking

channels and helps bank to gain substantiallyin terms of transaction costs.


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A successful Internet banking solution offers Exceptional rates on savings,CDs

Checking with no monthly fee, free bill

payment and rebate on ATM surcharges

Credit cards with low rates

Easy online applications for all accounts,

including personal loans and mortgages

24 hour account access

Quality customer services with personal


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The six primary drivers of Internet bankingincludes

Improve customer access

Facilitate the offering of more services

Increase customer loyalty

Attract new customers

Provide services offered by competitors

Reduce customer attrition

M i i i t t b ki


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Main concerns in internet banking

Security is the most important issue of onlinebanking.

. There is a dual requirement to protect

customers' privacy and protect against fraud A multi-layered security architecture

comprising firewalls, filtering routers,encryption and digital certification ensures

that your account information is protectedfrom unauthorized access:


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Firewalls and filtering routers ensure that only the

legitimate Internet users are allowed to access the

system.

Encryption techniques used by the bank (including

the sophisticated public key encryption) would

ensure that privacy of data flowing between the

browser and the Infinity system is protected.

Digital certification procedures provide the

assurance that the data you receive is from the

Infinity system

Virtual banking


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A virtual bank is a bank with a very small or

nonexistent branch network

. By eliminating the costs associated with retail

banking, particularly bank branches, virtual

banks may offer higher interest rates and

lower service charges on their savings

accounts than their competitors.

It offers its financial services by:


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It offers its financial services by:

Telephone banking

Online banking

Automated teller machines

Mail banking

Mobile banking

List of virtual banks


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Bank of Internet (United States)

Citi Direct, a division of Citibank (United

States)

Ebank (United States)

HSBC Direct, a division of HSBC Bank USA

(United States)

ING Direct, part of ING Group (worldwide

Telephone banking


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Telephone banking

Telephone banking is a service provided by a

financial institution which allows its customers

to perform transactions over the telephone

Automated teller machine (ATM


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An automated teller machine (ATM) is a

computerized telecommunications device that

provides the customers of a financial

institution with access to financialtransactions in a public space without the

need for a human clerk or bank teller

Mail banking


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Mail banking

Mail banking is a service provided by a financial

institution which allows its customers to deposit

cheques into their account by mail.

It is primarily used by virtual banks (as they maynot offer branches or ATMs that accept deposits)

and by customers who live too far from a branch.

Typically, the institution that advertises such aservice will provide its own self-addressed

stamped envelopes as a courtesy

Mobile banking


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Mobile banking

Mobile Banking refers to provision and

availment of banking- and financial services

with the help of mobile telecommunication

devices.

The scope of offered services may include

facilities to conduct bank and stock market

transactions, to administer accounts and toaccess customised information."

Mobile Banking Services


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Mobile Banking Services

Account Information

Payments, Deposits, Withdrawals, and

Transfers

Investments

Support

Contented Services


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Thank you!

Retail Financial Services

Documents