The struggle with planning vacations not just lies in deciding the destination, packing and scheduling the stay. Rather, the hassle generally lies in the banking. Especially if it is to do with travelling abroad. The mere thought of collecting forex, managing payment, credit cards etc., makes one anxious and uncomfortable. Banking has perhaps been the one activity that has still remained etched to the physical and material presence of the customer despite the advent of technology. Or, maybe not.

13109029_1744956599124632_410965153_nDBS Bank has an intriguing conception on this front. Their “DigiBank” now provides a virtual digital wallet to provide a hassle-free and easy solution to the problem! One of the most ‘mobile’ services, both literally and metaphorically, it is the first such platform in India to provide a paperless banking experience. The Adhar number and Pan Card details are the only requisites to open a bank account in less than 90 seconds. The service offers a zero savings account with 7% interest rate and upto 10% cashback from select merchants. In fact, “Digibank” allows unlimited ATM withdrawls free of cost!

What makes the banking experience even more rewarding is that the banking services are integrated into the everyday activities. This is also where technology shines through with its 24/7 virtual assistance “Digor”, who is also the Digibank mascot. “Digor” is significant in highlighting the rewards that Artificial Intelligence (AI) can reap through processing the Big Data that engulfs us. In fact, the AI also enables “intuitive budget optimiser” that plans and provides intelligent auto-alerts, enabling silos of information to be created about the customer to serve the best deals possible. The E-Wallet service of Digibank keeps a track of your location and notifies the customer as soon as they’re around an affiliate’s shop. Should you find yourself assaulting your bank balance, the app also offers a convenient tracker mechanism with a split setup to keep a track as to where one has blown one’s money, and if one has a history of transactions, the app will notify absurd expenditures.

BL27DBS_BANK2_2829706fGone are the days when one would look like an idiot by swinging one’s phone in the air, waiting for an OTP. “Digibank” has a dynamic inbuilt security system, which ‘pulls’ for authentication, making the transaction safe and convenient. This next-level intelligent safety mechanisms secure the lines of payment, restricting any third party intervention.

The human-centred design of “Digibank” almost marks the “WhatsApp moment” in the banking sector. With the technology ecosystem weaving a web of networks, “Digibank” definitely leads the revolution through its innovative value creation and customer solutions. Now, with your bank in your pocket, travelling abroad, scheduling trips abroad are just a click away!

Posted by The Indian Economist