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NEW TECHNOLOGY IN THE BANKING INDUSTRY The challenge for banks is now to facilitate demands that connect vendors with money through channels determined by the consumer. This dynamic shapes the basis of customer satisfaction, which can be nurtured with Customer Relationship Management (CRM) software. Therefore, CRM must be integrated into a digital banking system, since it provides means for banks to directly communicate with their customers. There is a demand for end-to-end consistency and for services, optimized on convenience and user experience. The market provides cross platform front ends, enabling purchase decisions based on available technology such as mobile devices, with a desktop or Smart TV at home. In order for banks to meet consumer demands, they need to keep focusing on improving digital technology that provides agility, sociability and efficiency. Therefore, Emerging Digital Solution Emerging forms of digital banking are BaaS - Banking as a Se...
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 HISTORY OF CENTRAL BANK Prior to the establishment of the Central Bank, the Currency Board System set up under the Paper Currency Ordinance No.32 of 1884 functioned as the country’s Monetary Authority, though very narrow in its capacity. This system was deemed inadequate for a developing country upon gaining political independence. Technical expertise to establish a central bank was sought from the United States of America (USA) in July 1948, with Mr. John Exter, an American economist from the Federal Reserve of USA being appointed to carry out this task.  The Exter Report on the rationale and the legal framework for a central bank was presented to the House of Representatives in November 1949. Along with this report, a draft bill with explanatory comments was presented as part II of the report. The Bill was passed by the House as the Monetary Law Act No. 58 of 1949 on 25 November 1949, paving the way for the establishment of the Central Bank of Ceylon and an end to the...
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PAN ASIA BANK Banks typically offer a variety of services to assist individuals in managing their finances, including, Personal banking Corporate banking SME banking Teasury Then we can be understanding one by one their product and services. PERSONAL BANKING     Saving & investment o    Current account o     Visa enabled ATM card, Cheque book, internet banking are features & benefits o     Initial investment Rs:1000/= o    Champion saver o     You can withdraw money from any ATM which carries the Visa or Lank pay logo o     SMS alert service o     You can opt for a Pass Book or Monthly Bank Statements o     You can nominate a person to be the beneficiary of the account o     All you need is an initial deposit of Rs:1,000/ o   ...