Q2 payment authorisation goes mobile

Q2 Software released two products that allow mobile payment authorisation for commercial online banking, according to PRWeb.

Q2Online and Q2Voice allow users to draft a transaction and request real-time mobile authorisation from one or more eligible approvers in the company.

Scott Abeel, VP of product management at Q2 Software, says approvers can review details of the drafted transaction and securely approve the payment on the same received call. "Other commercial banking applications provide only e-mail alerts, still requiring the approver to go online to approve the transaction, tempting approvers to provide their credentials to the drafter, eliminating the security of dual approval," he concludes.

ICICI Bank will target the rural market through intensive use of technology like Internet and mobile banking, reports The Economic Times.

The bank plans to increase its pace through issue of biometric cards, says ICICI Bank deputy MD Nachiket Mor.

Mor says the bank has already issued 1.40 lakh biometric cards and 1 000 such cards were issued per day.

Indian Bank has launched an e-learning programme for its employees, reports The Hindu.

The initiative was introduced in association with KESDEE, a US-based firm specialising in providing e-learning solutions.

Through the programme, the bank will host 41 user-friendly course libraries covering subjects such as risk management, asset and liability management. The initiative costs the bank Rs.120 per employee.

The lack of technical assistance and technology to follow-up loan usage is a problem, says head of capital management at Algorithmics, Corinne Neale, according to China Knowledge.

According to Neale, bank account managers do not have necessary technical assistance to help them check loan treatment.

To complicate the situation, some lenders may compromise on risk management standards by giving in to shareholders in order to raise profits.