There is a need for standardisation of ATM interface, recommends RBI committee
There is a need to standardize the ATM interface and also there is a need to ensure minimum functionality in the ATM by all bank/ATM operators (WLA), reports RBI.
Different ATMs deployed by different (Regulated Entities) and WLAs have different interfaces and require distinct prompts to carry out a transaction, which causes avoidable confusion among customers, according to the report of the Committee for the Review of Customer Service Standards in Regulated Entities of the Reserve Bank of India.
“To meet the needs of the physically challenged, the elderly, those who are not so tech-savvy, etc., additional care can be provided through the deployment of text-to-speech software, ChatBots, and multilingual support software,” according to the panel, which was chaired by BP Kanungo, former RBI deputy governor.
practical case
The report said that appropriate messages should be displayed regarding unsuccessful ATM transactions outside the US (where the card-issuing bank and acquiring bank are different entities), so that the customer can pinpoint the exact reason why they are unable to make the transaction/confirm the status of the transaction.
The aforementioned proposal comes against the backdrop of the Commission receiving some complaints that bank ATMs, other than the bank that maintains the accounts (transactions outside the US), do not reflect or send clear messages when a transaction has not taken place, for example the reason for not disbursing cash.
More secure authentication methods
The panel recommended that sponsoring entities may design and deploy more secure means of factor two documentation.
In this regard, biometric sensors on smartphones such as face/fingerprint/iris scanners can replace physical signatures to make physical presence no longer mandatory. This integration can also help the elderly to benefit from banking services more easily.
Moreover, such phone-based scanners can augment the OTP-based authentication system as an additional factor of authentication and help reduce fraud.
The aforementioned recommendation comes as the committee came across evidence of fraudulent digital transactions being conducted by obtaining OTP from victims through various means.