Real Time Virtual Banking System

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 Idea Description:

The objective of this idea is to do real time banking in virtual mode which can be done through mobile/computer by using internet banking.

 Problem:

In the current world banking industry is rapidly changing towards digitalization in each and every possible aspect. Every person having at least one bank account. People are also accepting and adopting the digital banking features to fulfil their banking needs without physical visit. However still in so many areas banks need to reach people in digital form with the help of mobiles and computers by using internet banking. At present so many banks are providing virtual banking concept but in the form of payments and to do other financial activities. So still people are required to visit bank physically to complete their banking needs.

Solution:

To overcome the above problem I proposed the following method and system to connect to the virtual banking system of a particular bank from user mobile device or computer device. To connect to this system users no need to buy any special hardware or software.

How it works:

Customers have to visit bank website/application and then choose state and branch (if required) and then the bank website/app will redirect to the virtual bank setup as shown in Fig 3. Now customers can choose the department and click on call icon for audio conference or video icon for video conference. Once the bank staff is connected then the customers can directly interact with them and resolve their queries then and there. If any documents or proofs required we can send them through mobile app while video conferencing. Customers can authenticate themselves by using bio metrics or signature or voice or iris.

Advantages:

1.      No special virtual device is required to do virtual banking

2.      Connecting virtual bank with mobile devices or computer without any additional software/hardware requirements.

3.      Real-time uploading the documents through mobile/computer devices

4.      Face-Face Video conferencing

5.      Real-time filling and submit the application forms while video conference with bio-metric authentication

6.      Customer signature is not required on the forms as authentication will be done from bio-metric devices which are attached to our mobile/computer devices

7.      Voice based authentication also possible

8.      Person photograph can be captured through mobile device while video conferencing

9.      Customers can interact with multiple departments at a time through video conference

10.   For any settlements customers can pay the amount through e-cheque/digital cheque and send through email for clearance

11.   If any signatures required, special space is available in the virtual banking application, if customers signature in that space it will automatically captures by the application and send it to bank employees for conformation







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