Standard Chartered Bank on Thursday launched their mobile banking platform in India. The bank has partnered with Adobe to create a simple yet richly interactive platform for the customers to do their transactions securely- anytime, anywhere.
The bank has also been able to annul fears of platform compatibility with the ever growing handset devices in India that uses different operating systems. “Breeze, powered on AIR 2.5, Flash Builder and Flex framework, is a platform that is compatible with over 700 devices across various operating systems,” says Umang Bedi, MD-Sales & Marketing (South Asia), Adobe.
Also read: RBI relaxes mobile banking guidelines
This ensures larger coverage of Standard Chartered’s customer base in India, and cuts time to market by almost 40%.
Development and implementation of this application that uses Adobe tools further helped the bank reduce investment in technology by two-thirds for the mobile banking venture. That apart, the platform also reduces cost of operating a branch for Standard Chartered by offering an alternate medium for customer services.
While the RBI hiked transaction allowance over mobile networks to Rs 50,000 from Rs 5,000, Standard Chartered has capped the figure at Rs 25,000 during its incipience.
Launching the application, Aman Narain, group head of remote banking, Standard Chartered Bank said that all security measures that are in place for internet banking has been enforced for mobile transactions too. “We do not see mobile banking as being a competition to internet banking, but rather, as an add-on,” he says.
Narain says that the Android-based model has been received well in places it has already been launched such as Singapore, Thailand and Korea. “In the three years of our existence on the interactive platform (mobile and internet), customers using these solutions have almost doubled,” he says.
According to him, 30% of Standard Chartered customers are active users of internet and mobile banking. “I am confident this will spurt again, going ahead,” he says.
Tags: Standard Chartered Bank, mobile banking, Adobe, platform compatibility, operating system, Breeze, AIR 2.5,Flash Builder, Flex framework, remote banking, security measures, internet banking,