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Sunday, June 7, 2009

'Self user creation facility' Union Bank launches new facility for internet banking users

'Self user creation facility' Union Bank launches new facility for internet banking users

A major step towards popularizing ePayments, has been taken by Union Bank of India on Saturday i.e., 06/06/2009.

'Self user creation facility' enables users of the Union Bank's internet banking services to generate their own password for internet banking.

The facility, the first to be offered by a public sector bank, enables first time users log in with their new chosen passwords within two days of submission of request

The process, powered by leading software major Infosys Technologies, enables those who are already using the Bank's internet banking facility to create their own passwords and start operations immediately without any waiting period.

To avail oneself of the facility, customers need to enter a few details in the link provided by the bank's website. Once these personal details are verified, the system enables the customer to create his own password.

The customer’s email and phone number have to be registered with the Bank, to avail the above facility. This is a security precaution.

Earlier, a customer had to send a request and wait for a fortnight to receive the password through post, which sometimes did not reach the customers. Non-receipt of the password through post is chiefly due to the details of the mailing address provided to the customers.

The customers could use this facility anytime, anywhere and free of charge.

However, Union Bank of India, as of date i.e 07/06/2009 7.54pm, has not updated this major achievement on its website. Union Bank over the last couple of years, has taken a conscious decision to be an innovator in the Banking Industry. This strategy seems to be paying off now.

What I notice, that banks in India, are still to appreciate the benefits of updating their websites, at the same time, a press release is issued. Indian customers are very tech-savvy, and prefer to access updated information on the Banks website.

The customers need be aware of the safety precautions, when using the new service provided by Union Bank of India.

Enjoy and spread the Magic of ePayments

A few simple safety precautions, are mentioned here

TIP 1: SAFE LOG ON / SAFE LOG OFF

· Never access your Internet banking website from a public computer (e.g. in a cyber cafe)

· Close all browser windows before logging on to Internet banking to protect your personal information from unauthorized access from another website.

· Always log off after using Internet banking service.

TIP 2: SAFEGUARD YOUR IDENTITY

  • Use safe passwords that are:
    > different from your user IDs

    > easy to remember only by yourself

    > difficult to guess
    >
    a combination of letters and numbers of at least 6 characters.
  • Never disclose your online passwords to anyone (including bank staff and the police) and do not record them anywhere. Contact your bank immediately if you believe your passwords have been compromised.
  • Do not use the same password for other online services, e.g. e-mail or Internet access, or for other Internet banking accounts.
  • Change your passwords regularly.
  • Disable your browser's 'AutoComplete' function that remembers the data (including your online passwords) that you input. Refer to your browser's'Help' function for details.

TIP 3: SECURE YOUR COMPUTER

  • Make sure you are using supported versions of OS and applications. Enable the auto-update feature to obtain and apply security patches regularly from trusted sources.
  • Install Internet security software with anti-virus, anti-spyware and personal firewall features to perform real-time detection of new viruses, spyware and intrusions on your computer. Enable the auto-update feature to obtain the latest virus and spyware definition files.
  • Do not download any freeware onto the computer that you use to access Internet banking.
  • Do not share computers: if you must share, set your own password to block access to your accounts.
  • Always disconnect from the Internet when you are not using it.

TIP 4: BE ALERT

  • Check your bank balance and transactions regularly and notify your bank immediately if you discover any errors or unauthorised transactions.
  • Be wary of opening unexpected emails with attachments, and never click on a hyperlink in a suspicious email.

Ø Never use hyperlinks in emails or Internet search engines to log on to Internet banking. Always type the address into your browser or bookmark the genuine website and use that to access your bank account.

Ø Never open an email attachment that contains a file ending with .exe, .pif, or .vbs as these are commonly used with viruses.

1 comment:

Rinta said...

hey Prashantn..
You really have a great blog,rather an informative blog...Its really good,though I don't much understand the technicalities involved in E banking...Keep posting.God bless..

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