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Tag: SBI (page 1 of 2)

SBI launches video KYC-based account opening

The SBI has launched a video KYC-based account opening feature which is completely paperless and contactless. A person can open a bank account without visiting a branch using the digital process powered by AI and Facial Recognition Tech. One has to download the YONO app, click on ‘New to SBI’, and select ‘Insta Plus Savings Account’. Once the Aadhaar details are entered and authenticated, he/ she has to schedule a video call to complete the KYC.

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SBI, ICICI, HDFC, Indian IT department targeted in phishing scam

Internet users in India are lured by cybercriminals to share important personal details said a report by CyberPeace Foundation and Autobot Infosec. The phishing campaign is asking users to fill an application form for the disbursement of the income tax refund. The form is redirecting users to a webpage that looks like an IT department’s e-filing web page. The targeted banks include the SBI, ICICI, HDFC, Axis Bank and Punjab National Bank.

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Hackers target SBI offering credit points worth ₹9,870

The customers of the State Bank of India became a victim of a phishing scam where hackers have flooded them with suspicious text messages, telling them to redeem Rs 9,870 worth of credit points. The link given in the text messages redirects the user to a fake website, where the user was asked to submit sensitive financial details like card number, expiry date, CVV and pin in a ‘State Bank of India Fill Your Details’ form.

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SBI, JPMorgan’s partner to use blockchain-based payment network

SBI and JPMorgan have teamed up to use the US bank’s blockchain tech to speed up overseas transactions. The partnership will reduce SBI customers’ transaction costs, time taken for payments and make it easier to resolve cross-border payments-related inquiries to a few hours from up to a fortnight. Venkat Nageswar, deputy MD – international banking group, SBI said that they are excited to be the first bank in India to go live on the network.

SBI warns customers of a WhatsApp scam

SBI has issued a warning to its customers about possible scams taking place via WhatsApp. The scam starts by fraudsters calling SBI customers to inform them about winning a lottery. Customers are then asked to contact an SBI number to find out more about the supposed lottery they won. The bank informed customers that there’s no such scheme or lucky customer gift offers going on currently and also asked them to think twice before responding to such claims.

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SBI alerts customers of ongoing email scam

The State Bank of India has alerted its customers about a possible scam. The bank claimed that some fraudsters are sending emails that look similar to those sent by their official email. The mails are designed to look like an official communication from the bank and customers have been asked to “Think Before You Click”. SBI asked the customers to report such activities to the Indian govt’s cybercrime department.

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SBI updates payment switching system with ACI Worldwide

Being India’s largest public sector bank with 58K ATMs, SBI frequently exceeds 30M transactions per day. Hence, to meet its transaction processing requirements, the bank has updated its payment switching system using ACI’s Retail Payments Solution. It enables SBI’s ATM network to acquire Visa, Mastercard, RuPay cards, as well as manage ATM/POS authorisations. Also, the solution executes bank’s complex switching needs with minimal downtime and business impact.

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How SBI uses social media to simplify banking-from-home

SBI ran campaigns on Facebook, Messenger to encourage users to download its YONO app. It is an integrated platform for Android, iOS and web. Users can access all of the bank’s services remotely. Plus, additional services like travel bookings, online shopping etc. The bank aimed at offering a personalised and conversation-led experience to its customers who were not using digital transactions. Hence, it used conversational AI and conversational marketing.

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How SBI uses technology to manage network traffic during digitisation

SBI uses containerisation tech as it spins out the need of additional traffic-management resources. Thus, manages traffic with existing hardware. It also helps the bank handle spurt in the transaction. SBI uses Microsoft 365 Public cloud and self-developed private cloud named ‘Meghdoot’; will soon move to a hybrid cloud as it offers public cloud’s perks with private cloud’s security. Yono app, an all-in-one solution for banking needs, ensures customer satisfaction.

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