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    Banking Innovations

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    Tanuja S
    This document summarizes various banking innovations including core banking, e-banking, telephone banking, internet banking, mobile banking, NEFT, RTGS, EFT, UPI, IMPS, ATM, debit cards, and credit cards. Core banking allows banks to connect branches for real-time operations. E-banking, telephone banking, internet banking, and mobile banking enable various online and remote transactions. NEFT and RTGS facilitate electronic funds transfers between banks. EFT, UPI, and IMPS are additional digital payment methods. ATMs, debit cards, and credit cards provide options for accessing funds.

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    Banking Innovations

    Uploaded by

    Tanuja S
    12 views17 pages
    This document summarizes various banking innovations including core banking, e-banking, telephone banking, internet banking, mobile banking, NEFT, RTGS, EFT, UPI, IMPS, ATM, debit cards, and credit cards. Core banking allows banks to connect branches for real-time operations. E-banking, telephone banking, internet banking, and mobile banking enable various online and remote transactions. NEFT and RTGS facilitate electronic funds transfers between banks. EFT, UPI, and IMPS are additional digital payment methods. ATMs, debit cards, and credit cards provide options for accessing funds.

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    This document summarizes various banking innovations including core banking, e-banking, telephone banking, internet banking, mobile banking, NEFT, RTGS, EFT, UPI, IMPS, ATM, debit cards, and credit cards. Core banking allows banks to connect branches for real-time operations. E-banking, telephone banking, internet banking, and mobile banking enable various online and remote transactions. NEFT and RTGS facilitate electronic funds transfers between banks. EFT, UPI, and IMPS are additional digital payment methods. ATMs, debit cards, and credit cards provide options for accessing funds.

    Copyright:

    © All Rights Reserved
    Download as PPTX, PDF, TXT or read online from Scribd
    Download as pptx, pdf, or txt
    12 views17 pages

    Banking Innovations

    Uploaded by

    Tanuja S
    This document summarizes various banking innovations including core banking, e-banking, telephone banking, internet banking, mobile banking, NEFT, RTGS, EFT, UPI, IMPS, ATM, debit cards, and credit cards. Core banking allows banks to connect branches for real-time operations. E-banking, telephone banking, internet banking, and mobile banking enable various online and remote transactions. NEFT and RTGS facilitate electronic funds transfers between banks. EFT, UPI, and IMPS are additional digital payment methods. ATMs, debit cards, and credit cards provide options for accessing funds.

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    BANKING

    INNOVATIONS
    • Core Banking
    • E-Banking
    • Telebanking
    • Internet Banking
    • Mobile Banking
    • NEFT
    • RTGS
    • EFT
    • UPI
    • IMPS
    • ATM
    • ATM card
    • Debit cards
    CORE BANKING

    • Core banking is a back-end system that connects multiple branches


    of the same bank together to deliver operations like loan
    management, withdrawals, deposits and payments in real-time.
    E-BANKING

    • E-banking is an arrangement between a bank or a financial institution and its


    customers that enables encrypted transactions over the internet. Short for
    electronic banking, E-banking has various types that cater to customers'
    different requirements, which can be resolved online.
    TELEPHONE BANKING

    • Telephone banking is a service provided by a bank or other financial


    institution, that enables customers to perform over the telephone a range of
    financial transactions which do not involve cash or Financial instruments (such
    as cheques), without the need to visit a bank branch or ATM.
    INTERNET BANKING

    • Internet banking, also known as online banking, e-banking or virtual banking,


    is an electronic payment system that enables customers of a bank or other
    financial institution to conduct a range of financial transactions through the
    financial institution's website.
    MOBILE BANKING

    • Mobile banking (m-banking) refers to the use of a mobile device like a


    smartphone or tablet to perform banking activities. It is done through a
    mobile app, USSD, or SMS. It enables customers to access banking services
    easily, quickly, and conveniently anytime, anywhere.
    NATIONAL ELECTRONIC FUNDS TRANSFER
    (NEFT)

    • NATIONAL ELECTRONIC FUNDS TRANSFER


    • NATIONAL ELECTRONIC FUNDS TRANSFER (NEFT)
    • NEFT is an electronic payment system developed by RBI to
    facilitate transfer of funds by customers from one bank to another
    bank in India.
    RTGS

    • Real-time gross settlement


    • The term "real-time gross settlement (RTGS)" refers to a funds
    transfer system that allows for the instantaneous transfer of
    money and/or securities. RTGS is the continuous process of
    settling payments on an individual order basis without netting
    debits with credits across the books of a central bank.
    DIFFERENCES
    EFT

    • An electronic funds transfer (EFT), or direct deposit, is a digital movement of


    money from one bank account to another. These transfers take place
    independently from bank employees. As a digital transaction, there is no need
    for paper documents.
    UPI

    • Unified Payment Interface (UPI) is a popular mobile payment method that


    allows you to transfer funds from one bank account to the other, instantly and
    free of charge.
    IMPS

    • IMPS (Immediate Payment Service)


    • IMPS is another real-time payment service, but the
    distinguishing factor is that IMPS is available 24⁄7 and you
    can avail the service even on bank holidays. Using IMPS,
    you can transfer comparatively lower amounts, up to Rs. 2
    lakhs, instantly.
    ATM

    • Automated Teller Machine


    • An ATM (Automated Teller Machine) is an electronic machine
    used for financial transactions. As the term implies, it is an
    'automated' banking platform that does not require any banking
    representative/teller or a human cashier.
    DEBIT CARD

    • A debit card is a card issued by a bank or credit union to checking account


    holders that is used to access funds in the account. You can use a debit card
    to access cash from an ATM or to buy goods or services.
    CREDIT CARD

    • A credit card is a type of credit facility, provided by banks


    that allow customers to borrow funds within a pre-
    approved credit limit. It enables customers to make
    purchase transactions on goods and services.

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