In recent years, technology has almost revolutionized our daily lives. From how we work and play to how we communicate, it’s brought a plethora of ways to make our lives easier, faster, better, and more fun. One particular area where the incursion of technology has been a big boon to us has been the way we do our banking. Accessing funds, deposits, managing investments and receiving payments have been completely revamped after the emergence of digital banks. This shift to digital banking is clearly evidenced by statistics that show how India carried out 48 billion digital transactions in 2020 and is expected to account for 71.7% of global payments volume by 2025. Additionally, around 22% of Indian adults – around 205 million – say they have a digital-only bank account – a number that is expected to rise in the coming years.
This boom in digital banking adoption is also allowing people to overcome the bottlenecks of simple online banking. Additionally, banks that provide their services on a smartphone or laptop browser are still considered less secure than using an app-based digital bank. Airtel Payments Bank, for example, is a digital first bank that allows users to enjoy banking functions with absolute transparency and security. It further comes with a bunch of features that internet banking does not provide to users.
If you’re wondering how digital banking scores compared to online banking, here are some highlights to get you going the digital route:
Mobile-first easy app-based navigation
With the increasing adoption of smartphones, app-based banking services are gaining popularity. It is not surprising to see why. Mobile-first browsing not only provides users with seamless functionality, but also the privacy needed to bank from anywhere. It also comes with a richer customer experience that customers usually don’t find on regular online banking websites. From push notifications to real-time fraud alerts, person-to-person payments, and information about offers and discounts, the experience of using an app-based digital bank is very user-friendly and personal. Airtel Payments Bank was developed with this thought, and it brings unlimited convenience so customers can have full control over their finances.
A single solution for everything related to banking services
Often in financial transactions, you have to run from one pillar to another to do your job. While technology is completely changing this story by bringing together various banking functions, internet banking still has some limitations and sometimes requires the use of multiple related applications to access seamless banking services. Various other factors such as the lack of a smooth UI and user experience and lagging further affect this experience. Digital banking through app-based banking solves this problem by hosting all your banking needs such as payments, recharges, smart investment options, money transfers, and more. under the same roof. Airtel Payments Bank provides users with immeasurable integration of digital banking functions so that there is never any delay or frustration during online transactions.
Security has always been one of the main factors determining whether or not people switch to digital banking. Although there are always risks when doing digital transactions, app-based banking is considered a more secure option than its online counterpart. Most of it can be attributed to the extra security it provides through additional hardware. This is why Airtel Payments Bank comes with Airtel secure payment, which is an easy-to-activate tool that uses three-factor authentication for the app to approve all transactions. Here, Airtel Network Intelligence sends real-time alerts to the consumer’s mobile number and ensures that no transaction takes place without the consumer’s confirmation. Click here find out more.
Banking services for the active generation
For people on the go, the convenience of app-based digital banks is unparalleled. Make digital transactions while traveling on the subway, apply for a loan while waiting for a friend at the cafe, pay your electricity and DTH bills on the go – it’s all possible with just a swipe of your fingers when using digital based on a banking app.
Airtel Payments Bank is one of those first digital banks that facilitates all your financial transactions at any time of the day.
To make the bank truly transparent, it must be personalized so that users can build trust. Modern digital banking customers seek advice tailored to their needs from their digital banking partner. Airtel Payments Bank understands this and offers personalized recommendations on insurance, investments, offers, etc., based on their transaction history, financial behavior and preferences.
With all this and more, digital banking certainly stands out from online banking by bringing banking services to the customer. Airtel Payments Bank brings this convenience to its users and allows them to make instant financial transactions without waiting period. All you have to do is create an account with a video call, and all your money management needs will be sorted. Click here find out more.
Disclaimer: This article was produced on behalf of Airtel by Times Internet Spotlight Team.