Branchless Banking Leveraging Information and Communication Technology
Table of Contents
Acknowledgements ii
Abbreviation iii
List of Tables and Figures iv
Abstract v
1. Introduction 10
2. Literature Survey 15
3. Study and Analysis of Models of Branchless Banking
3.1 Models of Branchless Banking 3.1.1 Bank-led Model 19 3.1.2 Non Bank-led Model 20 3.1.3 BC/BF Model 21
3.2 Study of Initiatives taken by other banks 3.2.1 Andhra Bank Initiative 27 3.2.2 Corp Bank Initiative 29
3.3 Solutions for Rural Masses 3.3.1 Automated Teller Machines (ATM) 23 3.3.2 Andhra Bank initiative of Mobile ATMs 24 3.3.3 Point of Sales (POS) Devices 25
3.4 Mobile Banking- 3.4.1 Introduction 31 3.4.2 Models of Mobile Banking 31 3.4.3 Issues and Challenges 32 3.4.4 International Experience on M-Banking from the Philippines 34
3.5 Risk involved in Branchless Banking 3.5.1 E-money Risks 36 3.5.2 Agent-related Risks 36 3.5.3 Special concerns 39
4. Study and Analysis of Information and Communication Technology (ICT) Solutions 4.1 Introduction 40 4.2 Study of Information and Communication Technology Solutions 4.2.1 Smart Cards 40 4.2.2 NFC Mobile 42 4.2.3 Hand Held device 44
4.3 Study of models of Technology Solutions Providers 4.3.1 Financial Information Network and Operations Limited (FINO) 45 4.3.2 Integra Micro Systems (P) Ltd 50 4.3.3 A Little World Pvt. Ltd (ALW) 52 4.4 Study of Technology-driven Model Initiative 4.4.1 SBI Tiny Initiative 55
5. Role of Regulator 56 6. Issues and Challenges 58
7. References 60
Acknowledgements ii
Abbreviation iii
List of Tables and Figures iv
Abstract v
1. Introduction 10
2. Literature Survey 15
3. Study and Analysis of Models of Branchless Banking
3.1 Models of Branchless Banking 3.1.1 Bank-led Model 19 3.1.2 Non Bank-led Model 20 3.1.3 BC/BF Model 21
3.2 Study of Initiatives taken by other banks 3.2.1 Andhra Bank Initiative 27 3.2.2 Corp Bank Initiative 29
3.3 Solutions for Rural Masses 3.3.1 Automated Teller Machines (ATM) 23 3.3.2 Andhra Bank initiative of Mobile ATMs 24 3.3.3 Point of Sales (POS) Devices 25
3.4 Mobile Banking- 3.4.1 Introduction 31 3.4.2 Models of Mobile Banking 31 3.4.3 Issues and Challenges 32 3.4.4 International Experience on M-Banking from the Philippines 34
3.5 Risk involved in Branchless Banking 3.5.1 E-money Risks 36 3.5.2 Agent-related Risks 36 3.5.3 Special concerns 39
4. Study and Analysis of Information and Communication Technology (ICT) Solutions 4.1 Introduction 40 4.2 Study of Information and Communication Technology Solutions 4.2.1 Smart Cards 40 4.2.2 NFC Mobile 42 4.2.3 Hand Held device 44
4.3 Study of models of Technology Solutions Providers 4.3.1 Financial Information Network and Operations Limited (FINO) 45 4.3.2 Integra Micro Systems (P) Ltd 50 4.3.3 A Little World Pvt. Ltd (ALW) 52 4.4 Study of Technology-driven Model Initiative 4.4.1 SBI Tiny Initiative 55
5. Role of Regulator 56 6. Issues and Challenges 58
7. References 60
References: • PNB introduces branchless banking service in Bihar: Thursday, 06 December , 2007, 17:36 retrieved from http://sify.com/finance/fullstory.php?id=14572173 accessed on March 14, 2008 • Dr • Vendor Independent • Low cost (around Rs.4000)