Mobile banking: 'I'm wearing my bank!'

  • Chennai-based Vayana, has created an Apple Watch-based banking solution for a leading Saudi Arabian client.

Indian customers are just experiencing contactless banking with smart cards and mobiles. But the shifting goalposts of global personal technology are already seeing customers using their watch as a banking gateway. Interestingly one of the pioneering solutions in wearable banking technology has come from an Indian developer, albeit for an international client.

Chennai-based omni channel banking tools provider, Vayana, has just delivered a wearable solution which has enabled the Saudi Hollandi Bank (SHB), in Saudi Arabia to let its customers do retail banking using an Apple Watch.

The Vayana application works as an extension of Apple's Mobile Banking Application for its iOS operating system. The solution enables watch based services including Reporting (Balances & Mini Statements), Notifications and Payments (Due Bills & Violations). Wearable banking retains the same robust MPIN security of mobile banking. Security Rules configured by the customer for the bank's Omnichannel platform, will be applied for transactions initiated through Wearable Banking, as well.

SHB is already using Vayana’s “SolutionNET: Channel Re-imagined platform” for Retail Internet Banking, Tablet Banking application and Mobile Banking application. The bank has become a leader in Saudi Arabian banking, rolling out 72 retail banking services on mobile banking platforms.

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Topics : #software | #banking

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