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International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456nternational Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101
Faster transactions m
may drop the chance to fractious sell ay drop the chance to fractious sell present clients
Provides audit trail with drop in web traffic.
Transparency and process integrity
5.2.3. Problems associated to Biometricsto Biometrics
Scope Operational issues – A slight could variation the voice A slight could variation the voice
Block chain know-how proposals distinctiveness distinctiveness excellence and may attitude difficultiesattitude difficulties in speech
l
People eople
authentication through a perceptible recordperceptible record and has confirmation. confirmation. P w w i in n labour abour
work ork
who ho
possible to condense cyber hazards. It dealspossible to condense cyber hazards. It deals comprehensive jobs may have comprehensive jobs may have injured impressions.
giantlatent to Indian banks to gather clearingsgather clearings from Even the senior citizens may have problem in Even the senior citizens may have problem in
across the globe Indian banks can use blockchain to across the globe Indian banks can use blockchain to impression substantiation.
present mechanization through through tradetrade-finance,
remittances, funds transfer, open account transactioremittances, funds transfer, open account transactions 5.2.4. Safety matters
and identity amenities everywhere KYC and secure everywhere KYC and secure In its note on 'Digital Payments In its note on 'Digital Payments - Analyzing the cyber
documents space. l landscape', KPMG stated, fake safety is one of the andscape', KPMG stated, fake safety is one of the
most serious challenges faced by sost serious challenges faced by stakeholders of the
m
C. Big Data Analytics Big Data are said to be Big Data are said to be digital payment ecosystem. With more and more users digital payment ecosystem. With more and more users
extremely huge data set that has to be analyzed, extremely huge data set that has to be analyzed, favouring numerical outflowsnumerical outflows, the chances of
handled, managed and validated through typical data handled, managed and validated through typical data receiving uncovered to imitation safetyimitation safety risks like
management tools. Indian banks have milmanagement tools. Indian banks have millions of online fraud, information theft, and malware or virus online fraud, information theft, and malware or virus
customers. The data of these customers is stored in the customers. The data of these customers is stored in the attacks are also increasing. Lack oattacks are also increasing. Lack of consciousness and
database. Retrieving the data in meaningful manner database. Retrieving the data in meaningful manner poor digital payment environment are some of the poor digital payment environment are some of the
becomes a complex process as many times the data becomes a complex process as many times the data crucial explanations that have led to growth in that have led to growth in these
collected is unorganized. Big Data Analytics helps in collected is unorganized. Big Data Analytics helps in attacks.
resolving this problem. The analytics tools give the
bank insights into personal habits of its customers, bank insights into personal habits of its customers, 5.2.5. Digital literacy in rural areas 5.2.5. Digital literacy in rural areas
allowing it to promote offers accordingly. To achieve allowing it to promote offers accordingly. To achieve There has been significant progresssignificant progress in the operators of
competitive edge in today’s modern banking era, competitive edge in today’s modern banking era, smart phone in rural India in last few years. But not in rural India in last few years. But not
banks in India are using data analytics to attract new banks in India are using data analytics to attract new many are aware and self-assured about online banking assured about online banking
customers, retain them and make the entire process e the entire process through smart phones. The primary usage of . The primary usage of smart
d
a
entertainment ntertainment
consumer centric phone is is delimited elimited t to o e and nd
communication only. As the urban tech practicality ommunication only. As the urban tech practicality
c
5.2. CHALLENGES customers adopt the changing countryside of ICT changing countryside of ICT
5.2.1. Computerization and AI may lead to Computerization and AI may lead to revolution in banking, Indian rural population yet revolution in banking, Indian rural population yet
n
unemployment needs to be educated about the ideas of AI, eeds to be educated about the ideas of AI,
AI and computerization are the major advances of AI and computerization are the major advances of Biometrics, Blockchain, Big Data etc. Biometrics, Blockchain, Big Data etc.
today’s improvement era. Even though the aids are era. Even though the aids are
promising, technology revolution attitudes a great promising, technology revolution attitudes a great 5.3. ALTERNATIVE SOLUTIONS ALTERNATIVE SOLUTIONS
hazard to many of the jobs which will be completely hazard to many of the jobs which will be completely Following steps can be approved by the banks to Following steps can be approved by the banks to
automatic and occurrences for job volunteers will automatic and occurrences for job volunteers will overcome the challenges
therapist. Banking is no prohibiting to this fact. therapist. Banking is no prohibiting to this fact.
5.3.1. Transition to AI
5.2.2. Voice Revolution will take overtake over online Top management and Leadership of the banks should Top management and Leadership of the banks should
play a substantial role. Active communication lay a substantial role. Active communication
banking p
As voice gratitude and voice verification developedverification developed, regarding the essential and application of AI in the regarding the essential and application of AI in the
web circulation to banking places and mobile web circulation to banking places and mobile rights association to all the employees may help realize association to all the employees may help realize
might drop by 50% in next few years. Clients will drop by 50% in next few years. Clients will smooth evolution. All employees employees unrelated of their
purely TALK to an internet associated trickassociated trick and age, will have to equip themselves with newest age, will have to equip themselves with newest
achieve most common banking responsibilities within achieve most common banking responsibilities within technology creation in the industry and upgrade their technology creation in the industry and upgrade their
few seconds. The clients, who presently visit the who presently visit the skills.
websites for banking responsibilities, also go through websites for banking responsibilities, also go through
the marketing advancements on the site. The banks the marketing advancements on the site. The banks

@ IJTSRD | Available Online @ www.ijtsrd.comwww.ijtsrd.com | Conference Issue: ICDEBI-2018 | | Oct 2018 Page: 138