Indian Banking industry stands as a role model for many countries’ banking industry. The Indian banks collectively have developed technologies that are considered as the state of the art. Only one piece of technology can beat the most advanced systems in the world.
The system I am talking about is the UPI or the Unified Payment Interface. This thing has changed the way, Indians Bank. Other developed countries like Singapore and the USA are praising this system and want to develop the systems that work similarly.
But wait do you think the UPI is one only groundbreaking piece of Indian banking tech?
No, there are many others too.
We will find out more about one such technology today. I am talking about the Missed Call banking system. This kind of system also helps in transforming the financial situations of the country.
What Exactly is this Missed Call Banking System?
With the help of the missed call banking system, the customers of the bank can check their remaining balance and the last 5 transactions. All by simply giving a missed call. Some of the banks are also working on the integration of loans with this system.
How to Customer use Missed Call Banking System?
There are specific missed call balance enquiry numbers that are given by the banks. Every Indian banks have different phone number. The customer of the bank has to use the phone number of his or her bank to use this service.
But is the missed call banking system secure?
Now, the customers will be able to check their balance and also the last 5 transactions by just giving a missed call. But what about the safety of the bank account?
If this is the question in your mind then let me answer this for you.
This system is very secure and your balance or the last 5 transactions are not leaked.
Here the customers have to give the missed call from the mobile number that is registered with their bank account. If some other mobile number is used to retrieve the balance details. Then the systems of the banks don’t respond.
Other than this there is one more layer of security and that is the phone’s lock screen. Almost everyone locks their phone with biometric data, (fingerprint and face lock) if not then the pattern or PIN is used.
So unless and until the phone can be opened by someone no one other then the real owner of the bank account can make use of the missed call banking service.
Now, What Can the World Learn from the Missed Call Banking?
You now know very well what is missed call banking system is and how it works, and what steps are taken by the banks to keep the things secure.
But what can the world learn from the missed call banking system?
Here you go.
This system is very simple all the customer has to do is pick the phone and give a missed call from the registered mobile number. And the task is done the bank will send an SMS to the customer within a few seconds. This is how simple the system is.
The world can learn how simple the banking system can be by looking at the way how the missed call banking system works.
The Service is Free
The missed call banking service works for free. Almost all the Indian banks do not charge anything for this service. No annual charges if the customer wants to use this service.
Even the telecom operator of the customer will not charge anything. Because there are no voice minutes used in this case. Only a missed call is given.
The world can learn that some services which act as augmented things or extra perks can be offered for free.
This service of the banks works very fast. When the customers call the number given by the bank. The call will be disconnected automatically. And as soon as the call ends the bank’s system will send the SMS containing the details immediately.
The other banks out of India that is in the other parts of the world can learn how to keep the simple banking things fast and furious.
This is how the missed call banking system works and what the world can learn from it. There is a huge team of hard-working IT team who works behind the scene to keep this system up and running.