Use
Customer Mobile & banking app to complete Customer Identification Verification
at other channels:
Use customer Mobile/banking app as one of the
authentication mechanism to use banking services in any channel. Once Customer
successfully login with banking app, they can use their device to pair to your
banking channel and by-pass any channel specific Customer Identification and Verification
process. Think of like generating ready-to-use QR code while paring mobile
device Whatsapp app and web client version browser to make the communication.
This mobile phone authentication concept can be applied
to multiple channels like ATM, branch, Online etc. Few of the examples I am
thinking at this moment and documented below. This may be eliminating/minimizing
the use of plastic card going forward. I am thinking that world is moving
towards cardless in banking area. This concept can be analyzed further to make
it reality in any industry including banking.
ATM
channel usage:
Customer can withdraw money from our own bank ATM using
mobile authentication without a plastic card. At present, to get any emergency
cash, we really no need to call telephone banking and get the one time access
code to get the emergency cash from ATM.
Firstly, Get Emergency cash onetime secret code can be
generated from App.
If we pair customer mobile and ATM using mutual
authentication as mentioned above, we won’t need to generate the one-time
access code.
Branch
channel usage:
Widely used Customer Identification and Verification mechanism
at the branch is using a plastic card (Chip&PIN OR Signature across UK
banks). Some/Most of the banking services can be made available at the branch
just with the phone along with some bio-metric security integration like
fingerprint scanning to complete CIV to use the services offered by the bank.
Again, the overall idea is that customers have phone with
them, so - they can be identified & verified using Mobile app secret code.
And hence, No additional identification mechanism will be needed to use the
services offered by the customer - once customer’s mobile device has been
paired with our banking network.
Additionally, we can offer this feature by minimizing the
mobile banking app using Web client like Whatsapp web client to experience the
app feature within desktop/laptop. Customers like me may be excited to use the
app specific feature via desktop/laptop browser.
Do you think you have some idea and it can change the way
we are doing banking today? Please write to me. We can catch-up.
Happy Learning,
Nanjundan Chinnasamy
