Indian banking is going through a reform. with the growth of internet banking, consumer’s have started shifting towards netbanking.
Netbanking has many advantages over traditional banking
It is very fast- Transactions over in seconds
It eliminates middlemen- No tip to chaprasi
It saves millions of tonnes of paper every year- So, consumers shifting to netbanking, Thanks a lot, you are saving our precious environment
Transact at home- Why bother going to bank, just log in from home and transact
But friends, most of the banking consumers still depends upon traditional banking methods.
And WHY?
I think it is because they feel internet banking is not safe. And they are right in feeling so. Every year frauds worth over billions of dollars happen over internet.
Therefore if banks want to shift there consumers from traditional to netbanking then they have to make netbanking very very secure.
And I know one most secure way of internet transactions
That is Digital Signature.
Digital Signature is an electronic equivalent of our physical signature. It provides security and authenticity to the internet transactions. It is valid in the court of law as well.
About Digital Signature I will let you know in detail afterword, but right now I will just let you know some of the benefits of Digital Signature.
You can open bank a/c within 15 minutes without even going to the bank.
Nobody can hack your a/c, which makes internet banking most secure.
Nobody can deny of the transaction, ones it takes place with the help of DS.
To know in detail wait for the next blog.