Alternate Delivery Channels – Digital Banking | PAPER II – PRINCIPLES & PRACTICES OF BANKING | MODULE C: BANKING TECHNOLOGY
Alternate Delivery Channels – Digital Banking Alternate Delivery Channels – Digital Banking 1. Introduction Alternate Delivery Channels (ADCs) refer to non-branch banking delivery methods used by banks to provide financial services to customers. With the advent of digital banking, these channels have expanded significantly to include internet banking, mobile banking, ATMs, and point-of-sale (POS) systems, among others. 2. Automated Teller Machines (ATMs) ATMs are electronic machines that allow customers to perform basic banking transactions like withdrawals, deposits, balance enquiries, and fund transfers without visiting a bank branch. Example: Mr. Arjun uses his bank's ATM to withdraw ₹10,000 from his savings account without visiting a branch. 3. Electromagnetic Cards These include debit, credit, and prepaid cards embedded with magnetic stripes or EMV chips. They are used for ATM transactions, online...