New Delhi, 30 August 2024: Airtel Payments Bank is setting a new benchmark in digital banking by introducing two ground-breaking features in the banking section under the Airtel Thanks app: the Fraud Alarm and Transparent Banking. The two features are designed to elevate user experience by offering enhanced security and greater transparency in banking operations. The Bank showcased these solutions at the Global Fintech Fest 2024.
The Fraud Alarm, prominently positioned in the Safe Bank Section on the app, provides users with immediate assistance if they suspect fraudulent activity. With a single swipe, users can quickly report suspicious transactions, initiate service requests for them, and secure their accounts to prevent further transactions. This streamlined approach ensures rapid response and effective resolution, empowering users and the Bank to take swift action against potential fraud.
Complementing the security feature, the Transparent Banking section on the app is designed to redefine the banking experience by centralizing all essential information – including charges, terms & conditions, and customer data storage guidelines – in simplified language in one easily accessible and user-friendly section. It also details why various device permissions are necessary for the app, providing transparency regarding user privacy protection and ensuring that customers are informed about the data the app accesses. The Transparent Banking feature underscores the Bank’s commitment to offering simple, easy and honest banking with clarity in every transaction. With this clarity, users can manage their finances with greater confidence and control.
Anubrata Biswas, MD and CEO of Airtel Payments Bank said at the Global Fintech Fest 2024, “At Airtel Payments Bank, we are dedicated to delivering solutions that blend security, transparency, and user-focused innovation, empowering our customers to manage their finances with greater confidence. The launch of the Fraud Alarm and Transparent Banking on the banking section in the Airtel Thanks app highlights our commitment to making banking simpler, safer, and more rewarding.”
Airtel Payments Bank is the sixth largest player amongst mobile banking users, and it processes over 8 billion transactions annually across its platforms.