| |June 20188IN MY OPINIONHow Technology Can Be Leveraged In Streamlining A Robust And Secure Banking System?By Shailendra Naidu, CEO, OBOPAYOBOPAY is a global mobile payment solutions company. A pioneer in mobile payments, it started with its own mobile payment service in the US in 2005 and with Nokia Money in India in 2008 OBOPAY, provides payment products, solutions, services and business consulting to companies across sectors such as telecom, finance, banks and retail to name a few.In the 1990s, the introduc-tion of non-branch banking brought about a digital rev-olution with major concerns around security. Initially viewed as an insecure way of banking, within a decade, online banking has not only increased customer convenience and satisfaction but has also help saved costs and increase penetration for the banks. Banks have moved from infor-mation to insight, security being top priority. Let's take the example of the very backbone of inter branch bank-ing that is the Core Banking Systems (CBS) which has made banking ex-tremely convenient but micro trans-actions at the same time adds to the load on the core system leading to issues like delay and security con-cerns. OBOPAY's layered banking solution aims at reducing the load on the CBS at the same time encour-aging volumes and growth in micro transactions. Such technology clear-ly sends a message to the customers to confidently use digital banking services and helps bank in establish-ing systems that are more reliable. This is only possible since banks are open to adapting to evolving tech-nologies and are actively investing in IT infrastructure.Shailendra Naidu
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