Airtel Payments Bank has introduced a new standard in digital banking by offering two game-changing innovations in the banking part of the Airtel Thanks app: Fraud Alarm and Transparent Banking. The two features are intended to improve user experience by providing increased security and transparency in banking activities. The bank demonstrated these products during the Global Fintech Fest 2024.
The Fraud Alarm, located prominently in the app’s Safe Bank Section, offers customers rapid assistance if they suspect fraudulent behaviour. With a single swipe, customers can immediately report suspicious transactions, submit service requests, and safeguard their accounts to prevent future transactions. This streamlined strategy offers a quick response and fast resolution, allowing users and the bank to act against potential fraud immediately.
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In addition to the security feature, the app’s Transparent Banking section is intended to redefine the banking experience by centralising all essential information, such as charges, terms and conditions, and customer data storage guidelines, in one easily accessible and user-friendly section. It also explains why certain device permissions are required for the app, provides openness regarding user privacy protection, and ensures that customers know the data the app accesses. The Transparent Banking feature demonstrates the bank’s dedication to providing simple, easy, and honest banking with clarity in every transaction. With this clarity, people may handle their funds more confidently.
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 among mobile banking consumers, processing over 8 billion transactions annually across all platforms.
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