Page 23 - Banking Finance February 2021

COVER STORY

MOBILE BANKING

AN ANTI VIRUS

TO FIGHT

AGAINST

CORONA VIRUS

B anking today is standing at the juncture of both So for the bankers the usage of Mobile/Internet banking acts

economic threats and uncertainties due to advent
as a PPE kit.
of COVID pandemic. Corona a synonym of death
has made the whole world come to standstill.
While the former is based upon the hope of Mobile banking has come a long way. Bankers are already
opting this digital platform to reduce the cash transactions
economic revival, latter is more evident from the on-going and to provide banking services 24 X 7. This innovative
crisis and related setbacks. After a lapse of almost 5 months approach of banker's has helped them in coping with this
when we are constantly fighting with this unknown enemy dangerous situation of social distancing during this
the whole economy has halted and this has pushed the world pandemic. Innovation in this sector has grown in
decades back. sophistication using advanced technologies such as tough
and voice capabilities and machine learning algorithms.
At this juncture to cope up with the present unpredictably
precarious situation digitalization is only way out. Banks are Banking sector as innovators focus on enabling customer to
able to become one of the warriors of COVID with the help bank the way they want to with minimum limitation using
of digital transactions through mobile and internet banking. mobile apps. If banks were not equipped with this digital
platform with their wide spread in all the geographical area

About the author of India; imagine that situation and sufferings of common
people in absence of banking services.
Sutopa Sinha We appreciate the customers also who have rapidly adopted
Sr. Manager, Faculty
Staff Training Centre the technology in their daily life without resistance. This is
Union Bank of India, Bhuwaneshwar also possible due to availability of inter-net and mobile
penetration at low cost. Banks are keeping abreast of their

BANKING FINANCE | FEBRUARY | 2021 | 23