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As a requirement of preparing a report based on the We have prepared a report on the “Prospects, Present Status and Challenges of Television Banking’. I hope this report reflects on the Prospects, Present Status and Challenges of Television Banking around the world. I would like to request you to accept our report for further assessment. Sincerely yours, Acknowledgement We faced many problems when we started the work on report but we are greatly thankful to almighty Allah for enabling us to get successfully through our responsibilities.
Very warm and special thanks to our respected course instructor MD. ZIAIJL HAQIJE whose real dedication and devotion kindled in our hope and light. Sir, we thank your ability of extracting the very best out of s, for your patience and perseverance, and also for acknowledging the efforts made by us during the whole semester. We would like to give thanks especially to our friends and group members, for their enthusiastic encouragements and helps during the preparation of this assignment by sharing ideas regarding this subject and for their assistance in typing and proof reading this manuscript.
Executive Summary: Television is can be one of the media of banking. Today’s connected world is a new generation of viewers who are demanding greater choice, flexibility, ocial interaction, and participation. The area of greatest potential strategic benefit lies in the opportunity it affords for the convergence of the TV and IT worlds by extending beyond pure broadcasting into two-way interactive communication. Banks wants to provide all the possible financial products and services to its current and potential customers through the Television Banking.
This report will help the Bank to explore the various possibilities, avenues and challenges for entering into TV banking. Introduction: The Television Banking enables customers to conduct banking business with elevision and TV set-top box as the terminal and remote control for the operational tool based on the cable TV broadband network. Television is usually viewed as a form of entertainment, but recently it’s taken on an additional role as another way of allowing banks to offer their services. Compared with online banking, television banking is closer to the life of everyone.
Customers of television banking do not need to purchase a computer or bear the internet “jam”; compared with telephone banking, television banking has a more direct trading interface and all-inclusive information display. The advocates of television banking believe people are likely to prefer banking via their television set than through their PC, largely for reasons of access and comfort. Television banking will allow customers to pay bills, check their balance and all the other functions normally conducted in person at a branch or over the telephone.
Currently, ABC, BOC, CCB and a number of other financial institutions have launched television banking service based on digital television. With this service, customers can enjoy such financial services as bank card transfer, inquiry and bill payment. Television anking has become another self-service channel following online banking, telephone banking, mobile banking and ATM. The television banking is still in its initial stage and has a limited number of customers, however, it will have plenty of room for development with the help and promotion of digital television technology.
Objective of the Report Finding TV banking capabilities and challenges To know different services of TV banking To know different banks who are providing the TV banking To discover the Practice of TV banking in the selected organization To relate classroom study with that of real life situation Methodology The data I have presented in this report are collected from various sources. The sources are mentioned below: Primary Data Source: We don’t get any Primary Data Source because TV banking is not available in Bangladesh. So we cannot communicate face to face with them.
Secondary Data Source Secondary data are data collected for some purpose other than the main facts. Secondary data are quick source of background information. We also collected information from secondary data sources. The sources are: l. Internet I. Text Book Ill. Various reports on TV Banking IV. Newspaper clips V. Journals Importance of Television Banking: Multichannel Innovation TV Banking enable customers to access on its financial services from TV and to access financial services like account balance, movements, credit cards and services payments from television.
It provides a new sales channel for the financial institution with easy process of sale. Smart & Simple TV banking is going to change the way of clients to connect with bank. It is Developed for smart us. It is specifically designed with interface which increases interaction between the client and the bank. It allows quick and comfortable browsing. Smart Banking While waiting for their favorite program to start the TV takes you for shopping. If you press a simple push of a button then you can buy the products being advertised.
Easy Communication Communication has never been this easy. With Smart Adviser, bank clients can contact the account manager directly. It is possible to send a message from anywhere in the application. TV banking makes communication Simple and easy. Smart Advisor TV banking Interact with the bank directly. It works s as the intermediary between bank & consumer. Clients are kept up to date with all their account ransactions. For example if a deposit is made in their account TV Banking will be the first to give them the good news!
All this without interrupting whatever they are watching. The application displays a popup with the up- dated information. They can see the details by simply pushing a button on the remote or if they wish they can check their account balance later on. Smart Shopping While clients are watching adverts & if they waiting for their favorite program to start, TV banking takes them to shopping. A simple push of a button and they can buy the products that are being advertised. During the advert, a popup is visible when the product is available for sale.
When pushing the red button on the remote, the user accesses the product page. Where all the significant details and data are accessible the user can see pictures and prices regarding the product. If they decide to purchase the product, they may do so by using their credit card or through existing payment options on TV Banking Security Access When accessing the application for the first time the user must register. Indicating the access credentials and choosing a four digit PIN that will be used to log into the application.
From this point onwards the PIN will be the only thing necessary to access the solution. The PIN is encrypted using a temporary key created at the moment. It is based on a pre-defined algorithm. At every successful login, the application generates new internal credentials which will be used in the next login. This is to prevent malicious attacks for increasing TV Banking security. Transaction Security All transactions that imply money require second level password confirmation. The application also has a timeout system that is executed if the user has not interacted for more than three minutes.
Other Advantages: TO be able to access the bank at home, via television is an innovating experience. It will be conquered by the ability of interaction, and by the comfort of being able to access the bank, in a relaxed atmosphere, without ever leaving the couch 24 hour, 7 day a week access Receive full banking services at your home and manage your finance Connect MNT current or demand deposit account to the service Get transaction statement to your e-mail address and if you wish, the bank will confirm it No need to queue as you would at a bank Transfer between local banks View currency exchange rate
Check account balance View ATM and branch locations, and working hours Free of charge service to the customers Problems of Television Banking: Must Have Broadband Cable: There is speculation that IPTV will provide Internet access via TV interface, meaning that existing online banking capabilities will be automatically accessed via TV. But while the TV media may be offered on broadband cable infrastructure, ability to access internet sites via TV interface is not a reality today. Complex Cable Distribution System: The cable distribution system in the some country is complex and ragmented.
However, respective governments are aggressively working towards organizing this industry. Infrastructural Limitations: There are infrastructural limitations today in cable space. Inquiry-type one way banking services can be rolled out to start with. Subsequently, depending on market readiness for STB upgrade plan from multiservice operators (with two-way communication capability) complex features can be planned. High Pricing: There are concerns of consumer pricing, which have to be addressed jointly by banks and multiservice operators (MSOs).