Digitisation of Retail Banking Products
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Retail Banking and Wealth Management — JAIIB.
One-liners from this chapter
Free sample — 8 of 79 rapid-fire Q&A cards.
Data Analytics + AI — What it does / Retail-banking use-case?
What it does: Mines transaction history and spending patterns; Retail-banking use-case: Personalised product recommendation; next-best-offer engines
Self-learning systems — What it does / Retail-banking use-case?
What it does: Chatbots / virtual assistants that improve with every interaction; Retail-banking use-case: Eva (HDFC), iPal (ICICI), SBI YONO Krishna
Robotic Process Automation (RPA) — What it does / Retail-banking use-case?
What it does: Software bots automate rule-based, repetitive tasks; Retail-banking use-case: KYC verification, cheque clearing, account opening
Open Banking — What it does / Retail-banking use-case?
What it does: APIs let third-party developers plug into bank rails; Retail-banking use-case: Account Aggregator-based onboarding, neo-bank front-ends
Embedded Finance — What it does / Retail-banking use-case?
What it does: Non-financial company offers financial products via APIs; Retail-banking use-case: Amazon Pay credit line, Ola Money postpaid, Swiggy "Pay-in-3"
1994?
RBI constituted the "Committee on Technology Upgradation in the Payments System" under Shri W. S. Saraf.
Dec 1994?
Saraf Committee report recommended setting up an apex-level institute for IT in banking.
March 6, 1996?
IDRBT became operational.
PDF study notes
More chapters in Module B - Retail Products and Recovery
Related articles & notes
In-depth Retail Banking and Wealth Management guides from our blog.
Master the full RBWM syllabus
Every chapter of Retail Banking and Wealth Management — videos, tests, notes and one-liner decks in one place.