The largest private sector lender in the country, HDFC Bank on June 15 said its mobile banking application faced several technical disorders but the problem was now resolved.
Please note the problems around the mobile banking application are now resolved. Customers can now use NetBanking and Mobile Banking applications for transactions. We regret discomfort and thank you for your patience.
Previously today, the bank has told customers that cellular applications are experiencing some problems and request that they use net banking services for transactions. “We are experiencing some problems in the MobileBanking application. We see this priority and will soon update. Customers are asked to use NetBanking to complete their transactions. Regret the inconvenience caused,” HDFC Bank Tweeted.
The latest technical error occurred when the Bank’s IT infrastructure was under the Audit Reserve Bank of India (RBI) for a series of technical issues reported.
In December last year, RBI clamped the bank, prohibiting continuing with a new digital launch in the background of a series of interference in his digital tract for two years.
A third-party audit designated by RBI from Bank IT infrastructure is currently underway. The prohibition may benefit from its rival, including ICICI Bank Ltd, by offering them the opportunity to get customers.
ICICI Bank has aggressively encouraging new digital initiatives including immobilepay, mobile banking applications that provide banking payments and services to any bank customers. In the March quarter, the basis of ICICI Bank card holders grew by 672,911; The HDFC Bank portfolio was contracted by 322,999 in the same period.
Even when the bank is waiting for RBI clearance, lenders have a big plan for digital space. Under the Sashidhar Chief Executive Officer (CEO) Jagdishan, the HDFC Bank wants to scratch the lost land in the digital business, overcome the inheritance issues that have placed lenders under the cloud in the past two years and in collaboration with new technology partners for cement as banks State superior, MoneyControl reported on June 9.
To be sure, this project is still in the planning stage and will take time to achieve results. “This initiative is part of a long-term planning, perhaps for the next 10 years or more,” a senior executive at HDFC Bank said with the terms of anonymity. “Existing problems need to be overcome to advance to that stage.”
Part of this plan is to build “digital banks in the bank,” According to a June 2 report by Bernstein Research entitled HDFC Bank: Digital Bank in Bank with Zeta? This report describes a large development plan at the bank to make digital banks for new customers, eventually covering all retail customer base.
“Does HDFCB build a digital-original bank in the bank? It seems like a public post from a startup called Zeta (Private). Zeta pitch is a ‘pile of omni-omni’ clouds – for banks – one software solution for cards, loans, deposits With the web and cellular interface that can be adjusted. “Said Bersinin Research.
Already, HDFC Bank has compiled a digital expansion road map – what he called digital 2.0. The bank has a number of digital launch planned in various vertical businesses based on initiative including the automatic portal launch, which bank calls a one-stop shop for all vehicle loans. The bank explains digital 2.0 as “the next phase of our digitalization trip.”
Other initiatives include my account my choice where the current account, savings account (CASA) can choose the account number of their choice when they register as an HDFC client. This will offer a cash withdrawal of less cards, WhatsApp Banking and Smart Slip that allows customers to fill in cash deposits, withdrawals and deposit deposits slip through NetBanking, use a reference ID, and complete transactions at banking outlets. Some of these services have been launched.