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DIGITAL BANKING

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This document provides an overview of a project on awareness and application of digital banking at HDFC Bank. It discusses the objectives of studying digital banking concepts, HDFC Bank's applications and the challenges faced by Indian banks in technology adoption. It profiles HDFC Bank and describes its various digital banking platforms like mobile apps, internet banking, SMS banking and digital payment solutions like Chillr and PayZapp. The document also discusses HDFC Bank's competitors and provides a BCG matrix analysis of its digital products.

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PROJECT ON AWARNESS AND APPLICATION OF DIGITAL BANKING SIP MENTOR DR.TAMAL DATTA CHAUDHURI(PRINCIPAL) BY AKSHAY SURANA PGDM 2015-17 ROLL NO- 15007
OBJECTIVES OF THE STUDY 1. To understand the concept, features and evolution of digital banking. 2. To analyze the progress made by Indian banks special focus on HDFC Bank applications. 3. To identify various E-Banking services adopted by Indian banks 4. To study the challenges faced by Indian banks in adoption of technology and make recommendations to tackle these challenges.
COMPANY PROFILE  HDFC BANK LIMITED is an Indian financial services company based in MUMBAI, MAHARASHTRA that was incorporated in August 1994.  The first largest bank by Market Capitalization as of November 1,2012.  As on May 2013, HDFC Bank has 3,062 branches and 10,743 ATMs, in 1,568 cities in India.  It was among the first companies to receive an in principle approval from Reserve Bank of India(RBI) to set up a bank in the private sector.  HDFC Bank commenced operations as a scheduled commercial bank in January 1995. Total assets US$83.1 million, net profit US$923.8 million.  HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers.
RESEARCHMETHODOLOGY & OUTCOME o Primary Source: Data collected directly by interviewing the customers of the bank then through questionnaires and surveys and also through observation with the company guide o Secondary Source: Secondary data is collected that is already available in the market whether in the journal or on the internet o Outcome: Traditional Banking and Digital banking its concepts, features and the growth that digital banking has on the former.
VISION&MISSION Vision: “Become the undisputed market leader in providing housing related finances, to realize the dream of shelter for all in Sri lanka. Mission: To our shareholders, our mission is to optimize returns. To our customers, our mission is to provide a caring service by anticipating their requirements and innovatively satisfy them beyond their expectations. To our natural environment, we enforce sustainable practices across all our activities. To our national economy and the industry regulator, we are the key driver and thought leader, shaping and financing the national housing policy.
FEWEMMINENT PERSONAL OF HDFC BANK Mr Hasmukhbhai Parekh- Hasmukhbhai Parekh was an indian financial entrepreneur, writer,philanthropist. He played an role in the development of Industrial credit & Investment corporation of India, now ICICI Bank, founded the Housing Development Finance Corporation and in 1992 was awarded the Padma Bhushan for his contribution to the finance industry in India. Mr.Aditya Puri- Aditya Puri is the Managing Director of HDFC Bank, India’s largest private sector. He has worked in banking sector for 40years, in India and other countries,and became CEO of Citi Bank, Malaysia in 1992. Mr.Nitin Chugh- HDFC senior executive vice president and head of digital banking. As per the reports of Mr.chugh the volume of mobile banking transactions has increased to RS 4900 crore.
MAJOR COMPETITORS OF HDFC BANK
WHAT IS DIGITAL/E-BANKING 1. Online banking also known as internet banking, e-banking or virtual banking is an electronic payment system that enables customers of a bank to conduct a range of financial transactions through the financial institution’s website. 2. E-banking includes the systems that enable financial institution customers, individuals to access accounts, transact business, obtain information on financial products through a public or private network o internet. 3. Customers can access e-banking services using an intelligent electronic device such as a personal computer, personal digital assistant, automated teller machine, kiosk, touch tone telephone.
Features of digital banking  A bank customer can perform non transactional tasks through online banking, including: I. Viewing account balances. II. Viewing recent transactions. III. Downloading bank statements etc.  Bank customers can transact banking tasks through online banking including- I. Funds transfers between the customer’s linked accounts. II. Investment purchase or sale. III. Credit card applications IV. Paying third parties including bill payments(like- BBAY) and third party fund transfer.
DIGITAL SERVICES & ADVANTAGES OF DIGITAL BANKING Digital Services: a) Internet Banking. b) Phone Banking. c) SMS Banking. d) Missed call Banking. e) ATMs. f) Watch Banking. Advantages Of Digital Banking: a) Lower manpower and back office cost. b) Time saving c) Convenience d) 24*7 service bank online services are provided 24hrs a day, 7 days a week and 52 weeks a year e) No more Q-s there are no queues in an online bank.
DIGITAL BANKINGPLATFORM 1. HDFC Bank, one of the leading private sector lenders in India has launched a new initiative ‘Bank Aap Ki Muthi Mein’ as part of their “Go Digital Campaign” to turn a smartphone into a bank branch. 2. HDFC Bank app allows over 75 transactions apart from essential transactions such as : booking of FDS, RDS, bill and tax payments, buying insurance etc. the app allows customers to buy all kinds of loans instantly. 3. HDFC also provides customized location specific promotions as well as offers and deals on shopping, dinning, movies, entertainment. 4. HDFC’s ‘Bank App Ki Muthi Mein’ is a technology agnostic initiative with apps on three popular smartphone platforms ios, android, windows phone. 5. Initiative of HDFC also extends to basic feature phone users with SMS and miss call banking. 6. The SMS banking service is also available in “HINDI” for a broader demographic. 7. With ‘Bank App ki Muthi Mein’ we can do everything other than access locker, deposit or withdraw cash.
DIGITAL APPLICATIONS BY HDFC  Chillr – Chillr is a revolutionary new app that lets you to send money immediately to anyone in your phonebook, 24 hours a day, 7 days a week. We can request money, slip bills amongst friends and can also recharge mobile phone , DTH and data cards. Features: I. Transfer money between your bank accounts. II. Available 24*7 including weekends and bank holidays III. Split bills easily among friends and colleagues.  PayZapp- Payzapp is a payments application solution for HDFC Bank customers. It allows instant payments access to great deals all in one place instant money transfer and much more with just a single click on your registered mobile device Features: I. Saves the hassle of entering your card credentials repeatedly. II. Link multiple Debit and Credit cards. III. No need to remember multiple passwords- one password to be used for all payments across linked cards.
List of participating merchants in PAYZAPP: a) Big Basket b) Make My Trip c) Clear Trip d) HDFC Bank SmartBuy SmartBuy: Smart Buy is an HDFC bank e-commerce venture specially designed and initiated to give all its customers a friendly and exclusive platform to get smartest and best transaction in town Smart Buy products and services-Shopping, Travel, Entertainment, Bill payment and mobile recharge. Features Of SmartBuy: Shopping, Deals, Travel and other Digital products, Call centre support, Reward 360 One of the other major facility is IMPS that is Immediate Payment Service.
BCG MATRIX HDFC BANK: star product is chillr and payzapp Cash cow product is internet banking & Sms Banking Question mark is Digital Wallet.
DIGITAL BANKING
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DIGITAL BANKING

  • 1. PROJECT ON AWARNESS AND APPLICATION OF DIGITAL BANKING SIP MENTOR DR.TAMAL DATTA CHAUDHURI(PRINCIPAL) BY AKSHAY SURANA PGDM 2015-17 ROLL NO- 15007
  • 2. OBJECTIVES OF THE STUDY 1. To understand the concept, features and evolution of digital banking. 2. To analyze the progress made by Indian banks special focus on HDFC Bank applications. 3. To identify various E-Banking services adopted by Indian banks 4. To study the challenges faced by Indian banks in adoption of technology and make recommendations to tackle these challenges.
  • 3. COMPANY PROFILE  HDFC BANK LIMITED is an Indian financial services company based in MUMBAI, MAHARASHTRA that was incorporated in August 1994.  The first largest bank by Market Capitalization as of November 1,2012.  As on May 2013, HDFC Bank has 3,062 branches and 10,743 ATMs, in 1,568 cities in India.  It was among the first companies to receive an in principle approval from Reserve Bank of India(RBI) to set up a bank in the private sector.  HDFC Bank commenced operations as a scheduled commercial bank in January 1995. Total assets US$83.1 million, net profit US$923.8 million.  HDFC Bank offers a wide range of commercial and transactional banking services and treasury products to wholesale and retail customers.
  • 4. RESEARCHMETHODOLOGY & OUTCOME o Primary Source: Data collected directly by interviewing the customers of the bank then through questionnaires and surveys and also through observation with the company guide o Secondary Source: Secondary data is collected that is already available in the market whether in the journal or on the internet o Outcome: Traditional Banking and Digital banking its concepts, features and the growth that digital banking has on the former.
  • 5. VISION&MISSION Vision: “Become the undisputed market leader in providing housing related finances, to realize the dream of shelter for all in Sri lanka. Mission: To our shareholders, our mission is to optimize returns. To our customers, our mission is to provide a caring service by anticipating their requirements and innovatively satisfy them beyond their expectations. To our natural environment, we enforce sustainable practices across all our activities. To our national economy and the industry regulator, we are the key driver and thought leader, shaping and financing the national housing policy.
  • 6. FEWEMMINENT PERSONAL OF HDFC BANK Mr Hasmukhbhai Parekh- Hasmukhbhai Parekh was an indian financial entrepreneur, writer,philanthropist. He played an role in the development of Industrial credit & Investment corporation of India, now ICICI Bank, founded the Housing Development Finance Corporation and in 1992 was awarded the Padma Bhushan for his contribution to the finance industry in India. Mr.Aditya Puri- Aditya Puri is the Managing Director of HDFC Bank, India’s largest private sector. He has worked in banking sector for 40years, in India and other countries,and became CEO of Citi Bank, Malaysia in 1992. Mr.Nitin Chugh- HDFC senior executive vice president and head of digital banking. As per the reports of Mr.chugh the volume of mobile banking transactions has increased to RS 4900 crore.
  • 8. WHAT IS DIGITAL/E-BANKING 1. Online banking also known as internet banking, e-banking or virtual banking is an electronic payment system that enables customers of a bank to conduct a range of financial transactions through the financial institution’s website. 2. E-banking includes the systems that enable financial institution customers, individuals to access accounts, transact business, obtain information on financial products through a public or private network o internet. 3. Customers can access e-banking services using an intelligent electronic device such as a personal computer, personal digital assistant, automated teller machine, kiosk, touch tone telephone.
  • 9. Features of digital banking  A bank customer can perform non transactional tasks through online banking, including: I. Viewing account balances. II. Viewing recent transactions. III. Downloading bank statements etc.  Bank customers can transact banking tasks through online banking including- I. Funds transfers between the customer’s linked accounts. II. Investment purchase or sale. III. Credit card applications IV. Paying third parties including bill payments(like- BBAY) and third party fund transfer.
  • 10. DIGITAL SERVICES & ADVANTAGES OF DIGITAL BANKING Digital Services: a) Internet Banking. b) Phone Banking. c) SMS Banking. d) Missed call Banking. e) ATMs. f) Watch Banking. Advantages Of Digital Banking: a) Lower manpower and back office cost. b) Time saving c) Convenience d) 24*7 service bank online services are provided 24hrs a day, 7 days a week and 52 weeks a year e) No more Q-s there are no queues in an online bank.
  • 11. DIGITAL BANKINGPLATFORM 1. HDFC Bank, one of the leading private sector lenders in India has launched a new initiative ‘Bank Aap Ki Muthi Mein’ as part of their “Go Digital Campaign” to turn a smartphone into a bank branch. 2. HDFC Bank app allows over 75 transactions apart from essential transactions such as : booking of FDS, RDS, bill and tax payments, buying insurance etc. the app allows customers to buy all kinds of loans instantly. 3. HDFC also provides customized location specific promotions as well as offers and deals on shopping, dinning, movies, entertainment. 4. HDFC’s ‘Bank App Ki Muthi Mein’ is a technology agnostic initiative with apps on three popular smartphone platforms ios, android, windows phone. 5. Initiative of HDFC also extends to basic feature phone users with SMS and miss call banking. 6. The SMS banking service is also available in “HINDI” for a broader demographic. 7. With ‘Bank App ki Muthi Mein’ we can do everything other than access locker, deposit or withdraw cash.
  • 12. DIGITAL APPLICATIONS BY HDFC  Chillr – Chillr is a revolutionary new app that lets you to send money immediately to anyone in your phonebook, 24 hours a day, 7 days a week. We can request money, slip bills amongst friends and can also recharge mobile phone , DTH and data cards. Features: I. Transfer money between your bank accounts. II. Available 24*7 including weekends and bank holidays III. Split bills easily among friends and colleagues.  PayZapp- Payzapp is a payments application solution for HDFC Bank customers. It allows instant payments access to great deals all in one place instant money transfer and much more with just a single click on your registered mobile device Features: I. Saves the hassle of entering your card credentials repeatedly. II. Link multiple Debit and Credit cards. III. No need to remember multiple passwords- one password to be used for all payments across linked cards.
  • 13. List of participating merchants in PAYZAPP: a) Big Basket b) Make My Trip c) Clear Trip d) HDFC Bank SmartBuy SmartBuy: Smart Buy is an HDFC bank e-commerce venture specially designed and initiated to give all its customers a friendly and exclusive platform to get smartest and best transaction in town Smart Buy products and services-Shopping, Travel, Entertainment, Bill payment and mobile recharge. Features Of SmartBuy: Shopping, Deals, Travel and other Digital products, Call centre support, Reward 360 One of the other major facility is IMPS that is Immediate Payment Service.
  • 14. BCG MATRIX HDFC BANK: star product is chillr and payzapp Cash cow product is internet banking & Sms Banking Question mark is Digital Wallet.