How Digital Banking Makes your Financial Life Easy
26 March, 2024
Synopsis
Digital Banking allows you to bank from anywhere, any time.
It offers a myriad of services to make your banking experience as seamless as possible.
Instant account opening, pre-approved loans, chatbots, etc., are a few Digital Banking solutions that facilitate convenient banking.
There’s no doubt that the banking landscape is undergoing a digital transformation. Armed with tools like Artificial Intelligence (AI) and Machine Learning (ML), banks have been transcending conventional banking services. Keep reading on to learn how Digital Banking has redefined digital solutions for financial services.
Popular Digital Financial Services
The following services can make your banking experience seamless:
Faster Onboarding
You can open a bank account within a few minutes with processes like E-KYC or video KYC. You can verify your identity with Aadhaar-based KYC or an agent from the bank will call you via a video call and verify your details.
Internet & Mobile Banking Facilities
You can choose to bank on your time, from anywhere with NetBanking and MobileBanking channels using a smartphone. You can log into these channels anytime, check your account balance, book Fixed Deposits, change ATM pins, pay bills or upgrade Cards.
Virtual Cards
Your bank may offer Virtual Cards, digital versions of physical cards. Like a physical card, you can use it for online payments. You can also manage and set limits on the card, among many other activities.
Quick Financing
Many banks offer loans in a few minutes to a few hours. If you have a long-standing relationship with your bank, you may also be eligible for instant Personal Loan in a very short span of time.
Reduced Paperwork
The bank will keep a record of your documents at the time of account opening and access these documents whenever you need to opt for another service. You can get a Personal Loan without collateral or physical documents, open a Fixed Deposit or apply for a Credit Card.
Chatbots & Interactive Voice Response (IVR)
AI-powered chatbots or virtual assistants can provide instant and personalised support. Through a series of questions, these tools can help you resolve your banking queries. You can get information on unauthorised transactions, block lost or stolen cards instantly or talk to an agent for complex queries.
Real-Time Updates
Your bank will immediately send you notifications for transactions done using the bank’s products and services. These real-time updates and alerts for transactions, account updates and other services ensure that you stay informed of your bank activity at all times.
Security Measures
Banks like HDFC Bank implement robust security measures to keep your financial information safe. These include multi-factor authentication, encryption, biometric authentication like fingerprint or facial recognition, etc., simplifying the login and transacting process.
Cross Border Transfers
Sending money to another country has never been easier. All you have to do is add the beneficiary and make the transfer from the comfort of your home. Typically, the beneficiary will receive the money in their account on the next day or in a few days.
UPI Integration
Unified Payment Interface (UPI) has completely transformed the way we make payments. With a single click or scan, you can shop or send money. Payment apps like PayZapp make your life hassle-free.
Investments
Banks may offer cross-product benefits like Demat or Mutual Fund Account opening, allowing you to bank and invest from the same place. You can access these investment apps at any time, from any place.
HDFC Bank offers a range of Digital Banking services to make your banking experience as convenient as possible. From instant account opening and pre-approved Loans to Credit and Debit Cards and NetBanking and Mobile Banking, we are here to cater to your every banking need in the most efficient manner. Start your Digital Banking journey with us now!
Experience a Seamless Digital Banking Experience with HDFC Bank
*Terms and conditions apply. The information provided in this article is generic in nature and for informational purposes only. It is not a substitute for specific advice in your own circumstances. Loan at the sole discretion of HDFC Bank Limited. Loan disbursal is subject to documentation and verification as per Bank's requirement. Interest rates are subject to change. Please check with your RM or closest bank branch for current interest rates.
