India’s leading private sector lender HDFC released its next generation mobile banking application on Tuesday. The application is equipped with advanced security features like finger prints and facial recognition based log-in. Customers of HDFC bank can undertake over 120 transactions using this app. The new banking app was launched at the Bank’s annual Digital Innovation Summit 2018, held at New Delhi.
“It has simple, intuitive navigation and incorporates features such as biometric log-in for enhanced security and access. It also eliminates all financial and technical jargon for users by grouping transactions into 3 easy to understand categories — Pay, Save, and Invest,” the bank said in a release.
“The way that people use the mobile is constantly evolving and our next-gen app reflects this evolution. The next gen app is one more step by the Bank in its on-going journey to become a constant part of customers’ life, understand their needs and give products and services that offer a real time experience.” Livemint quoted Nitin Chugh, (Country Head – Digital Banking, HDFC Bank) as saying during the launch event.
Some features of the HDFC’s new mobile banking app are as follows:
- Notification by the app on bill and utilities payments.
- Simple navigation based on customer needs like Pay, Save, Invest.
- Smart and intuitive technology that intelligently chooses between NEFT/IMPS or RTGS depending on the size and timing of the transaction.
- Biometric log-in with fingerprint and facial recognition (iPhone X) for enhanced security.
- Customised profile pictures like any social media channel.
- Personalised notifications and display based on consumer’s usage and needs.
- Simpler terms for all transactions such as ‘Transfer Money’ instead of ‘Fund Transfer’.