Have money in bank account? Worried about fraud? This new tech will make you banish fear of loss

It is no secret that bank account holders are always worried about money loss. This trend has worsened with cases emerging like those of PMC Bank, PNB and others. Now, there is a tech available that can make them less worried as it improves security, curbs frauds and even enhances the digital customer experience.

Notably, the customer authentication process is set to get reduced drastically with the launch of Infrasoft Technologies’ (InfrasoftTech) Mixed Reality (MR) technology for banks. The extensive process of performing thorough background checks on customers which earlier used to take over 4-5 days can now be done in just three minutes. Intermingling technology with banking, this first-of-its-kind solution aims to revolutionize the segment.

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Speaking on the launch, Rajesh Mirjankar, Managing Director & CEO at InfrasoftTech said, “We are extremely thrilled to introduce our ‘Made in India’ futuristic Mixed Reality channel for banks and financial institutions worldwide. The world of Omnichannel will move beyond mobiles, tablets and desktops to wearables where one wouldn’t need to carry devices to click and browse. Our journey of Omnichannel with Kiya.ai does not stop at mobiles and tablets. It extends to IoT, Immersive UX, Open APIs and Voice Commerce. With the launch of our new Mixed Reality Channel, we aim to offer the blend of the real world and digital objects such as data and workflows in a UX that renders a different experience. Over the last few years, we have truly embraced the wave of these futuristic technologies and tried to weave in them the daily chores of banking.”

On how does the tech help both bank and bank customers prevent fraud and enhance security, Mirjankar said, "InfrasoftTech’s Kiya.ai provides mixed reality solutions that assist in detecting opportunities and suspicious activities alike. InfrasoftTech launched its mixed reality solution at Singapore Fintech Festival. The use case showcased was Client Onboarding where the Bank staff wears the MR glasses and are able to do face recognition of the customer and get details of their current holdings, risk rating, and credit scores on the MR glass view." 

Similarly, InfrasoftTech has provided 3-dimensional views of data on Frauds, Customer Concentration, Performance etc in their Data Visualiser using MR glasses.

The MR-enabled eye gears will simulate the bank branch experience wherein banking executives will be able to scan the face of a customer and after authentication, get access to their banking portfolio in one sight.  InfrasoftTech has also introduced a host of other solutions with the launch of its Mixed Reality Channel within its Kiya.ai Omnichannel & Open Banking solution which enables a user to access information in 3D view with the use of touch, speech, or hand gestures, anytime and anywhere. These latest tech-solutions from the company will act as a game-changer for banks and financial institutions to deliver enhanced customer experience by leveraging Artificial Intelligence, IoT and analytics.