Visiting your neighbourhood bank branch may soon be a thing of the past. With technology advancement taking place in leaps and bounds, banks are now following customers away from the 9 to 5 shift.
Though video banking is making life of customers easy, there are some security concerns as with any technology. According to Sanchit Gogia, Chief Analyst & CEO at Greyhound Research, some security issues are associated with e-cheques, like chances of unauthorised access to virtual cheque books, duplicate presentment of cheques and integrity of digital signatures. “To avoid these, it is highly recommended that e-cheques be affixed with digital signatures generated by recognised digital certificates and issued by a recognised certification authority,” he says.
Gogia believes that with banks trying to create a comprehensive online presence, social trading will become widespread. Consumers will be able to lend, borrow and trade on social media platforms like Facebook and Twitter.
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