Mobile banking users and transactions are growing by leaps and bounds in India. Increasing smartphone adoption and initiatives such as media promotions and customer education programs for mobile banking have led to this uptrend.
The major share of this market belongs to Public Sector Banks (PSB’s) and Private Sector Banks like ICICI Bank, SBI, IDBI, HDFC, AXIs Bank etc.
Today though some of the prominent co-operative banks have gone live with their mobile banking applications, much requires to be done with most of the other banks.
Co-operative banks will have fast track their go to market (GTM) strategies regarding mobile banking. PSB’s and private banks who till now had no inroads to the customers segments loyal to co-operative banks have suddenly found a great channel in mobile banking.
The huge spurge in their mobile banking transactions is partly due to these customers who were earlier banking only with co-op banks.
Since RBI has a stringent policy for allowing co-op banks for mobile banking, they may first start with application which gives users credit facility. NPCI already incentives banks by providing them with a small incentive for transactions both for debit and credit transactions.
The banks should take immediate initiatives to make their banking websites smartphone compatible and friendly. Nice to have things like ATM, branch locaters, service charges, EMI calculators, product information, bank events information should be made available to customer. Bank should try innovative solutions like providing a friendly electronic pass book, which can enhance user experience as also obviate the need for providing costly equipment like passbook writers in the branches. They should also examine technology to enhance ease of use like local language interface and bio-metric and voice based security and functionality.
Mobile Banking initiatives should be adopted as the central point of the banks strategy to reduce costs and enhance user experience. Incentives for users can include lower service charges for using facilities.
There is also a danger that if this facility is not provided, customers in the age group of 18 – 30 may not prefer opening accounts or migrate their existing accounts to more mobile savvy banks.
More importantly this will inculcate mobile banking habits in users which will help the banks get ready subscriber base after launching full scale mobile banking applications.
Using its 20 years of experience of working in this segment, Nelito has introduced an attractive technological and right priced solution for cooperative, small and payment banks. All transactions supported by IMPS are available off the shelf.
Different customization requirements for enhanced user experience can be undertaken and deployed quickly.
Nelito provides Mobile Device Management (MDM), which is critical to manage security, scalability, device management, upgrades of solutions and a platform to rapidly build applications.
The banks have therefore a choice to start off with a lower investment and scale to a mobile banking platform as and when they achieve scale and see the real potential of adopting a mobile banking strategy.
You can contact us to know more about of mobile banking services.
The Meticulousness of efforts to ensure customer delight by each of the team member during the course of the project is appreciable. - Data Archival Project
Overall we are happy with the services provided by Nelito. The implementation team is sensitive to our support requirements and does a good job.
We are extremely thankful to the whole team who have devotedly committed and created this excellent database. Much of our time was wasted in data retrieval from i link where we were facing lots of issues.
You have given us an awesome product which is superior to our Finacle itself in its display capabilities. The great idea of taking pdf/word/excel option is simply superb. Merging the party code and Finacle CIF and account numbers are another feather in the cap.
We have successfully made Nelito's Fincraft Software for NBFC live in early March for LOS,LMS and Sanjiv Khalkho, Arijit Chakraborty with his team have been very instrumental in making this software live . I would like to appreciate on the turnaround time during the go live phase of the team in getting some of our key requirements done and helping our users to use the software for recording and disbursing all the sales from the software.
In technology side I would like to praise Pramod Navale and Ganesh Khetmalis for in depth knowledge of the product and their technical skills is outstanding. Looking forward for the continued relationship for our next release and whole of 2018.
"We are extremely pleased with the kind of support extended by you and your team for our year end work. Although whole bunch of people worked for making the support seamless from your end, my special thanks to following resources. Anurag, Arpit, Arvind, Pranit, Suraj, Udgran, Nilesh, Leena and Udgrand. Also, thanks to all others who have supported us directly or indirectly at your end."
"For a Bank of our size, this system suffices and is very cost effective. Almost all of the bank’s activities run on the one system. Nelito constitutes a partner more than a supplier and the relationship includes provision of the bank’s underlying technology as well as its Fincraft range of applications."
"The best mix of functionality and technological support and our vision of “Cash Less and Paper Less” work environment for Sonata has come true with our technological partner Nelito. I highly recommend FinCraft Core Microfinance platform and especially integrations with a number of third party services."
"We are happy to use FinCraft Data Archival & Retrieval solution from Nelito Systems; it has given huge ROI in terms of saving revenue by retiring legacy applications. We get all desired reports in a timely manner from the solution."
"Proactive & professionally supportive, technically skilled team."
"My bank is working with Nelito from the last about 9 Years and the services provided by the company may prolong our association."
"Knowledge and service provided to the bank is beyond expectation. And we would definitely engage and recommend solution to others."
"As Vendor strict adherence to process & procedures. Risk Mitigates in Place. Flexible to customer requirements."
"Everything was successfully implemented and tested. The implementation was professionally done in a very efficient and cooperative manner. Migration was very smooth."
Support services provided for Swift is really up to the mark and meets all clients requirement. Kindly keep this ongoing.