RBI issues operative guidelines for mobile banking transactions
Updated: Dec 05, 2014 11:53:25am
Mumbai, Dec 5 (KNN) In an effort to bring in standardisation of procedures in mobile banking services offered by various banks, the Reserve Bank of India has issued operative guidelines for mobile banking transactions in India.
“As banks have started offering mobile banking services at different points of time, there are differences in procedures adopted by banks for registering customers for mobile banking as well as in the channels of delivery and authentication process. Generally, banks are offering mobile banking services through the SMS, Application-based solutions and USSD channels. Lack of awareness as well as standardization of procedures at banks also adds to the problems which have led to a situation of slow pick-up of mobile banking services despite the high mobile density in the country. This is of particular importance when customers are using inter-operable mobile banking platforms,” RBI said in a notification yesterday.
The apex bank has called for greater degree of standardization in procedures relating to on-boarding of customers for mobile banking (new customers, existing account holders whose mobile numbers are available with the bank but not registered for mobile banking, and existing account holders where mobile number is not available with the bank), as also the subsequent processes for authentication, including accessible options for generation of MPIN by customers.
RBI has also asked banks to provide options for easy registration for mobile banking services to their customers, through multiple channels, thus minimizing the need for the customer to visit the branch for such services. “The time taken between registration of customers for mobile banking services and activation of the service should also be minimal,” it said.
The country’s central bank has also advised banks to undertake customer education and awareness programme in multiple languages through different channels of communication to popularise their process of mobile banking registration/activation and its usage etc.
In this regard it has come out with a few suggestions and best practices that can be adopted by banks for registering / on-boarding customers for mobile banking; and also to quicken the process of MPIN generation and also widen the accessibility of this process to their mobile banking registered customers.
As far as new customers are concerned, at account opening time, the account opening form should clearly indicate the option for mobile banking; and the customer should be made aware of the mobile banking facilities while opening the account, it said.
For existing customers who have mobile numbers registered with the bank but not active for mobile banking: “As mobile number registration has already taken place and available with the bank (is linked with the account), wider and more accessible platforms should also be made use of by the banks to increase awareness on mobile banking at every opportunity to get more and more customers to register for mobile banking services,” the RBI said, outlining some methods.
Banks need to find ways of obtaining mobile numbers of the account holders first for registration in their database and subsequently for mobile banking registration, it said. (KNN/ES)
“As banks have started offering mobile banking services at different points of time, there are differences in procedures adopted by banks for registering customers for mobile banking as well as in the channels of delivery and authentication process. Generally, banks are offering mobile banking services through the SMS, Application-based solutions and USSD channels. Lack of awareness as well as standardization of procedures at banks also adds to the problems which have led to a situation of slow pick-up of mobile banking services despite the high mobile density in the country. This is of particular importance when customers are using inter-operable mobile banking platforms,” RBI said in a notification yesterday.
The apex bank has called for greater degree of standardization in procedures relating to on-boarding of customers for mobile banking (new customers, existing account holders whose mobile numbers are available with the bank but not registered for mobile banking, and existing account holders where mobile number is not available with the bank), as also the subsequent processes for authentication, including accessible options for generation of MPIN by customers.
RBI has also asked banks to provide options for easy registration for mobile banking services to their customers, through multiple channels, thus minimizing the need for the customer to visit the branch for such services. “The time taken between registration of customers for mobile banking services and activation of the service should also be minimal,” it said.
The country’s central bank has also advised banks to undertake customer education and awareness programme in multiple languages through different channels of communication to popularise their process of mobile banking registration/activation and its usage etc.
In this regard it has come out with a few suggestions and best practices that can be adopted by banks for registering / on-boarding customers for mobile banking; and also to quicken the process of MPIN generation and also widen the accessibility of this process to their mobile banking registered customers.
As far as new customers are concerned, at account opening time, the account opening form should clearly indicate the option for mobile banking; and the customer should be made aware of the mobile banking facilities while opening the account, it said.
For existing customers who have mobile numbers registered with the bank but not active for mobile banking: “As mobile number registration has already taken place and available with the bank (is linked with the account), wider and more accessible platforms should also be made use of by the banks to increase awareness on mobile banking at every opportunity to get more and more customers to register for mobile banking services,” the RBI said, outlining some methods.
Banks need to find ways of obtaining mobile numbers of the account holders first for registration in their database and subsequently for mobile banking registration, it said. (KNN/ES)
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