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Bank Presentation templates

How can i help you yes, i am here to open a bank account. do you need a checking account or a savings account can you guess what we are about to say that’s correct, we offer you a selection of templates that are related to banks, finances, savings, online banking and so much more check it out by yourself and find the perfect design match for you.

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E-payment app social media strategy.

Download the E-Payment App Social Media Strategy presentation for PowerPoint or Google Slides. How do you use social media platforms to achieve your business goals? If you need a thorough and professional tool to plan and keep track of your social media strategy, this fully customizable template is your ultimate...

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Bank Franchise Business Plan

If a product has already been proven to work, why not try to sell it somewhere else, too? That’s kind of how franchises work! You take the idea, put the money, the effort and the passion and take them elsewhere! But before opening a franchise there’s lots of economic data...

International Banking Day

There’s an international day for everything you can imagine, and today it’s the turn for Banks. On the 4th of December, the UN celebrates the importance of banks in the developing of countries and the providing of living standards, and ever since 2019 this day serves as a moment to...

Business Major for College Banking & Financial Support: Letter of Credit

Download the Business Major for College Banking & Financial Support: Letter of Credit presentation for PowerPoint or Google Slides. As university curricula increasingly incorporate digital tools and platforms, this template has been designed to integrate with presentation software, online learning management systems, or referencing software, enhancing the overall efficiency and...

Bank Theme for Business

Make your next presentation about banking, investing or business in general even more special! This template brings you a glinting, professional design which is distinctly bank-themed. The slides’ backgrounds alternate in color to make sure to keep your audience’s attention and the many resources - graphs, charts, lists and photo...

Banking & Financial Support Services Pitch Deck

Download the Banking & Financial Support Services Pitch Deck presentation for PowerPoint or Google Slides. Whether you're an entrepreneur looking for funding or a sales professional trying to close a deal, a great pitch deck can be the difference-maker that sets you apart from the competition. Let your talent shine...

Financial Infographics

Download the Financial Infographics template for PowerPoint or Google Slides and discover the power of infographics. An infographic resource gives you the ability to showcase your content in a more visual way, which will make it easier for your audience to understand your topic. Slidesgo infographics like this set here...

Banking Infographics

Do you know everything about banks? After using these infographics you sure do! Indeed, this is a set of infographics related to a wide variety of banking concepts. Mortgages, credits, loans, debts, online banking... download these infographics now to find out what else we have included! They are very complete!

Community Bank Business Plan

Register all your liabilities, earnings, and balance your finances out with this modern template for banks! It includes all the resources needed for a good business plan: graphs, tables, charts, diagrams… the information must be as clear as possible! The modern design combining simple geometrical forms and fun orange tones...

International Banking Day Infographics

Download the International Banking Day Infographics template for PowerPoint or Google Slides and discover the power of infographics. An infographic resource gives you the ability to showcase your content in a more visual way, which will make it easier for your audience to understand your topic. Slidesgo infographics like this...

Economic Activity Meeting

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Mobile Banking IG Stories for Social Media

When was the last time you were waiting in line at the bank? Twelve times four, minus six... Yeah, we get it, a lot of time ago. That's the good part of online and mobile banking: things are quicker and easier. Do some of your followers not know about this...

Venture Capital Pitch Deck

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Digital Banking Consulting

More and more people pay now with cards or with the phone. Digital banking is the choice of many, especially among younger generations. Financial institutions seek to update their operations and stay competitive among peers, so they need the help of consultants. Provide your expertise and advice on the best...

Bank Loan Pitch Deck

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Bank Fees Marketing Plan

Professional, thorough, simple, easy to remember: All the characteristics of a perfect marketing plan - especially if we’re talking about a delicate subject like bank fees! In this slide deck you’ll find a simple but attention-grabbing design of white, yellow and black whose contrasts make the graphs and infographics visually...

Digital Payment System Marketing Plan

Download the Digital Payment System Marketing Plan presentation for PowerPoint or Google Slides. This incredible template is designed to help you create your own marketing plan that is sure to impress your entire team. Using this amazing tool, you'll be able to analyze your target audience, assess your competitors, map...

Financial Audit Meeting

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Digital Banking PowerPoint Template

The Digital Banking PowerPoint Template is a creative slide deck for the visual representation of digital banking concepts. Digital banking means the application of the latest technology like mobile phones, the internet, and cloud services, for banking processes. Through this digital transformation , the system of Banks is changed altogether, i.e., people can now access their money and savings from anywhere through their cell phones. Similarly, cashless payments and digital transactions are just a single click away for users. So, we have designed this digital banking PPT template to illustrate such concepts using human characters and other infographics.

Various slides of this deck show visuals for the latest banking concepts. Bankers and technologists can utilize these graphics in their professional presentations. Also, finance and banking students can copy these PowerPoint illustrations on their presentation slides where required. The following banking terms are visually elaborated in slides of this Digital Banking PowerPoint Template :

• Mobile wallets: The idea of mobile wallets is displayed through a bigger smartphone infographic in which a human character is adding a currency note. This illustration relates to online banking, where people can add or withdraw their money through their smart devices.
• Unified Payment Interface: The term refers to merging different bank accounts in a single mobile application. The visuals of this slide show how the payment method has been simplified through a single application.
• Transfer of Funds: Another advancement of online banking is the transfer of funds or Inter-banks transfer of funds (IBFT). People enjoy sending and receiving money without any deductions.
• Neobanks: The bank without any physical building or location is a neobank. The working of these banks relies on online dealings. A simple PowerPoint design shows this concept.
• Self-Service Phone Banking: Through self-service phone banking, users can now handle their payments, funds, and financial dealings through their phones. A human character typing on a phone infographic represents this idea.

In addition, users can showcase similar topics on other slides provided in this online digital Bank template for presentations. The editable PowerPoint graphs can be used to mention statistical data, performance report slides or traction. The visual slides of the PoS device, and bank buildings further relate to distinct online banking facilities. The graphics and different PowerPoint objects in these template slides are 100% editable. So, download our digital banking PPT template and edit it using PowerPoint or Google Slides.

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Online banking system PowerPoint Presentation Templates and Google Slides

Save your time and attract your audience with our fully editable ppt templates and slides..

Online Banking System Data Flow Charts Ppt PowerPoint Presentation File Layout Ideas PDF

this slide shows a level 1 dfd of an online banking system to demonstrate the information flows. it covers processes such as account administration system, transaction administration system, online banking system and loan administration system. Persuade your audience using this Online Banking System Data Flow Charts Ppt PowerPoint Presentation File Layout Ideas PDF. This PPT design covers four stages, thus making it a great tool to use. It also caters to a variety of topics including Transaction Administration System, Accountant, Cashier, Employee Record. Download this PPT design now to present a convincing pitch that not only emphasizes the topic but also showcases your presentation skills.

Net Banking Channel And Service Management Process Flowchart For Online Banking System Inspiration PDF

This slide represents process flow for online banking system. It includes transaction management, loan management, account management, accountant etc. Do you have to make sure that everyone on your team knows about any specific topic. I yes, then you should give Net Banking Channel And Service Management Process Flowchart For Online Banking System Inspiration PDF a try. Our experts have put a lot of knowledge and effort into creating this impeccable Net Banking Channel And Service Management Process Flowchart For Online Banking System Inspiration PDF. You can use this template for your upcoming presentations, as the slides are perfect to represent even the tiniest detail. You can download these templates from the Slidegeeks website and these are easy to edit. So grab these today.

Software And Communication Interface Parameters Required For Online Banking System Download PDF

This slide signifies the application interface specification required for digital banking system. It covers information about software and communication interface that are required to develop a system. Presenting Software And Communication Interface Parameters Required For Online Banking System Download PDF to dispense important information. This template comprises two stages. It also presents valuable insights into the topics including Software Interface, Communication Interface. This is a completely customizable PowerPoint theme that can be put to use immediately. So, download it and address the topic impactfully.

Introduction To Digital Banking Services Framework For E Banking Online Management System Guidelines PDF

This slide represents flow chart for e-banking online management system. It includes customer, account, fund transfer, account statement, balance statement etc. Slidegeeks is one of the best resources for PowerPoint templates. You can download easily and regulate Introduction To Digital Banking Services Framework For E Banking Online Management System Guidelines PDF for your personal presentations from our wonderful collection. A few clicks is all it takes to discover and get the most relevant and appropriate templates. Use our Templates to add a unique zing and appeal to your presentation and meetings. All the slides are easy to edit and you can use them even for advertisement purposes.

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Free Banking Presentation Templates

Tired of boring bank presentations try free banking powerpoint templates and google slides from slide egg we've slides for every banking topic, from investment strategies to mobile apps, designed to make your presentation shine. easy to edit, royalty-free, and available in multiple formats. so, skip the stress and download your free templates today.

• Diverse themes: A wide range of banking topics, from mobile banking apps and online banking systems to commercial loan processes and digital banking security tips are available here. We even have special slides dedicated to International Banking Day!
• Creative and engaging: Forget boring bullet points and usual layouts. Our banking slides are bursting with vibrant colors, captivating infographics, and dynamic layouts that keep your audience glued to the screen.
• Flexibility at your fingertips: Whether you prefer PowerPoint or Google Slides, portrait or landscape, 4:3 or 16:9 aspect ratio, we've slides here! Choose the format that best suits your needs and platform.

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How to make a banking PowerPoint presentation

We're here to help you, what kind of banking presentation templates do you have.

We have a wide variety of templates for all your banking needs, including slides on investment banking, mobile banking, commercial loans, online banking, E-wallets, and more. We even have special slides for International Banking Day!

Are your templates free?

Yes, we offer a selection of free banking templates to get you started. You can also upgrade to a premium plan for access to even more templates and features.

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Absolutely! All our templates are 100% editable, so you can customize them to match your brand and message. Change colors, fonts, layouts – the possibilities are endless!

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What are some tips for creating a great banking presentation?

Use clear and concise language. Keep your slides visually appealing. Use data and charts to support your points. Practice your presentation beforehand.

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Online Banking.

Published by Antony Joel Kennedy Modified over 6 years ago

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Presentation on theme: "Online Banking."— Presentation transcript:

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Banking Powerpoint Presentation Slides

Select our content ready Banking Powerpoint Presentation Slides to give an overview of the banking system. The commercial bank PowerPoint complete deck includes ready to use PPT slides such as US banking structure, banking organizational hierarchy, income statement, balance sheet, banking industry overview, key US banking industry statistics, major trends in the US banking industry, leading US banks by revenue, key growth drivers United States banking industry, federal bank regulation in the US, services offered to customers, loan categories, types of loans, headquarters and overseas location, banking SWOT analysis, banking environment PESTEL analysis, porter's five forces model, revenue projections, etc. Furthermore, community banks' overview PPT visuals are completely customizable. You can add or delete content if needed. Showcase latest banking news & trends using professional-looking commercial banks overview PPT visuals. Download this professionally designed financial institution PowerPoint slideshow to give an overview of the US banking industry in a visual manner. Fortify your argument with our Banking Powerpoint Presentation Slides. You will acquire that extra force.

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PowerPoint presentation slides

Presenting this set of slides with name - Banking Powerpoint Presentation Slides. This PPT deck displays forty-four slides with in-depth research. Our topic oriented Banking Powerpoint Presentation Slides presentation deck is a helpful tool to plan, prepare, document and analyze the topic with a clear approach. It showcases of all kind of editable templates infographics for an inclusive and comprehensive Banking Powerpoint Presentation Slides. Edit the color, text, font style at your ease. Add or delete content if needed. Download PowerPoint templates in both widescreen and standard screen. The presentation is fully supported by Google Slides. It can be easily converted into JPG or PDF format.

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Content of this Powerpoint Presentation

Slide 1 : This slide introduces Banking. State Your Company Name and begin. Slide 2 : This slide shows Content of the presentation. Slide 3 : This slide presents US Banking Structure with related diagram. Slide 4 : This slide displays Banking Organizational Hierarchy with designations. Slide 5 : This slide represents Income statement for FY 17-18. You can add values and variables accordingly. Slide 6 : This slide showcases Balance Sheet for FY 17-18. Slide 7 : This slide shows Banking Industry Overview with the help of donut pie chart. Slide 8 : This slide presents Key US Banking Industry Statistics. Slide 9 : This slide displays Major Trends in US Banking Industry. Slide 10 : This slide represents Leading US Banks by Revenue in graphical form. Slide 11 : This slide showcases Key Growth Drivers in US Banking Industry. Slide 12 : This slide shows Federal Bank Regulation in US describing- Credit Card, Debt Collection, Lending Limits, Interest on DD, Consumer Protection, Withdrawal Limits. Slide 13 : This slide displays various services provided by banks to its customers. Slide 14 : This slide presents wide range of Loan Categories. Slide 15 : This slide represents Types of Loan including- Auto Loan, Housing Loan, Equity Loan, P2P Lending, Small Medium Businesses Loan, Payday Lending, Personal Loan, Credit Loan. Slide 16 : This slide showcases Domestic Locations of different bank branches. Slide 17 : This slide shows Overseas Location of banks with map. Slide 18 : This slide presents Banking SWOT Analysis describing- Weaknesses, Threats, Opportunities, Strengths. Slide 19 : This slide displays Banking Environment PESTEL Analysis describing- Politics, Economy, Social, Technology, Environment, Legal. Slide 20 : This slide represents Porter’s Five Forces Model as New Entrants, Threat form substitutes, Bargaining power of suppliers, Rivalry among current players, Bargaining power of customers. Slide 21 : This slide showcases Revenue Projections in graphical form. Slide 22 : This slide displays Banking Icons. Slide 23 : This slide reminds about a 15 minutes coffee break. Slide 24 : This slide is titled as Additional Slides for moving forward. Slide 25 : This slide displays Pie chart with data in percentage. Slide 26 : This slide showcases Clustered Column-Line chart to compare different products. Slide 27 : This slide shows Clustered Bar chart with two products comparison. Slide 28 : This slide displays Stacked Area - Clustered Column chart with three products comparison. Slide 29 : This is Our Mission slide with related icons and text boxes. Slide 30 : This is Meet Our Team slide with names and designation. Slide 31 : This is About Us slide to show company specifications. Slide 32 : This is a Comparison slide to state comparison between commodities, entities etc. Slide 33 : This is a Financial slide. Show your finance related stuff here. Slide 34 : This is a Quotes slide to convey message, beliefs etc. Slide 35 : This is a Timeline slide to show information related with time period. Slide 36 : This is another slide continuing Timeline. Slide 37 : This slide is titled as Post It Notes. Post your important notes here. Slide 38 : This is a Puzzle slide with text boxes. Slide 39 : This is a Lego slide with additional text boxes. Slide 40 : This is a Target slide. State your targets here. Slide 41 : This is a Venn slide with additional text boxes to show information. Slide 42 : This is a Bulb or Idea slide to state a new idea or highlight information, specifications etc. Slide 43 : This slide shows Mind Map for representing entities. Slide 44 : This is a Thank You slide with address, contact numbers and email address.

Banking Powerpoint Presentation Slides with all 44 slides:

Use our Banking Powerpoint Presentation Slides to effectively help you save your valuable time. They are readymade to fit into any presentation structure.

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Online Banking Security

Feb 12, 2014

580 likes | 1.53k Views

Online Banking Security. Magdalena Padyasek. Why Security?. Computer-based businesses Advances in technology Internet crimes September 11 th attacks Cyber-terrorism Internet banking . Internet Banking. Paper-free transactions Account balances, transfers, bill payment, statements

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• bankrate com brm news
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• digital signatures
• internet banking

Presentation Transcript

Online Banking Security Magdalena Padyasek

Why Security? • Computer-based businesses • Advances in technology • Internet crimes • September 11th attacks • Cyber-terrorism • Internet banking

Internet Banking • Paper-free transactions • Account balances, transfers, bill payment, statements • Fast and convenient

One-way Security • Secure Socket Layer (SSL) • Safeguarding Online Purchases • Feel secure • Encrypts data between the client and the server by making a direct connection • Client sends an encrypted key to the server • Server decrypts and returns to the client

SSL lock • Click the icon, or double-click (varies by browser), and examine the security information displayed about the web site.

Two-Way Security • Public Key Infrastructure (PKI) • Insures privacy for both online company and online bank customer • Enables users to securely exchange data and money through public network

Public Key Infrastructure • Encrypts and decrypts • Tamper detection • Authentification • Nonrepudation

Online banking • Digital signatures – ensures identity • Firewall – shield between the internal systems and the Internet • Virtual Private Network – allows authorized outside users to access company data

News… • Microsoft file 117 phishing lawsuits • Anti-Phishing Act of 2005

Conclusion • Security precautions • Understand security risk • Internet crimes are growing at an alarming rate “Consumers actually need to be responsible…they won’t leave their doors open when they leave the house.” - Lydia Parnes (director of the FTC’s Bureau of Consumer Protection)

Works Cited • http://info.ssl.com/ssl_kb/article.aspx?id=10068 • http://www.w3.org/Security/Faq/www-security-faq.html • http://www.bankrate.com/brm/news • http://www.thestandard.com/internet news

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SECURITY SERVICES – ONLINE BANKING. NORAZEIAN BT HASHIM UK24871 NUR HARMIERA BT ABDUL RAHMAN UK26807 NURSYIFAA IZZATI BT ABDUL AZIZ UK25981. CIMB - CLICKS. USING https :. SECUREWORD. Using SecureWord to login back. GIVE THE SECURITY TAC NUMBER.

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Online banking is the banking practices or processes through the internet. It is the electronic system with which customers of the bank or authorized financial institutions can make payment, do transactions, transfer money, pay bills, manage accounts and much more.

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SECTION 4-6. pp. 182-187. Online Banking. Compute: online banking charges Update: the check register. Section Objective. Key Words to Know. online banking (p. 182) Doing bank transactions, such as loan payments and funds transfers, electronically over the Internet. Formula.

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Kent Kristensen | Online Banking Security Tips

This is an additional layer of security that needs not only the username or password but something else that the user has on them. Many banks offer this extra layer to guard the account holders. This extra verification credential is generally real-time for you to access your account. Kent Kristensen is the best banking expert he offers the best banking and accounting services in the UK. He has more than 30 years of experience in this field.

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Mint Explainer: How banking staff is paying price for digitalization-led growth

• The digitalization comes with its trade-offs. While it could contribute to higher growth, it's disrupting jobs landscape in the financial sector, shows the RBI's Currency and Finance report for 2023-24

MUMBAI : In Currency and Finance report for 2023-24 , the Reserve Bank of India (RBI) points out that digitalization is disrupting the jobs landscape in the financial sector and driving out middle-level banking staff. This comes even as digitalization is expected to constitute a fifth of India's gross domestic product (GDP) by 2026, doubling from 10% at present. The central bank also flagged potential challenges related to digital upskilling and the required employee adaptability. Mint explores the pros and cons of digitisation as highlighted in the RBI's 29 July report.

What will be the impact of digitalization on India’s economic growth?

According to the RBI, India has been at the forefront of the digitalization “revolution" through initiatives such as India Stack, unified payments interface (UPI) and “consent-based data sharing". The banking system has also contributed to the digital push by enabling direct benefit transfers. The central bank estimates the impact of digitalization on India’s economic output as measured by gross value added (GVA), under four scenarios: 

1) Business as usual. 

2) Only increase in capital investments 

3) Increase in capital as well as information and communication technologies’ (ICT) investments. 

4) ICT and capital investments, combined with investments in human capital. 

Investments in digital tech infrastructure can help India achieve real GVA growth (growth stripped of inflation) of 8.2% by 2030, according to the report. This is versus the current growth of 7.2% as of 2023-24. However, the central bank contends that India can achieve “maximum growth" only when labour reforms are also undertaken. Labour reforms can push India’s growth above 9%. “The investment-led growth path may lose momentum unless supported by reforms that focus on productivity, human capital and higher labour force participation," the RBI stated.

Also Read: Reform the UPI system: We need sustainable digital payments infrastructure

How would digital push, though, affect the labour force in the financial sector?

The central bank states that with most clerical jobs in the financial sector facing automation, the low- and middle-tier jobs are being displaced by technology. This calls for greater investments in upskilling. Employees in support roles have decreased in India’s financial sector while the number of professionals/technicians have risen, mirroring a global trend, the RBI says. The share of support staff (e.g. customer service representatives) in the banking sector has steadily fallen in the past decade from 50% to 26% in 2022-23. The proportion of bank officers to support staff stands at 74:26 as of 2022-23.

Also Read: Eco survey flags impact of AI on workers, puts onus on pvt sector to create jobs

What solutions has the RBI proposed?

Financial institutions need to invest in digital upskilling of their staff, according to the report. “Digitalization may induce human resource challenges in the financial sector, necessitating strategic investments in upskilling and reskilling," governor Shaktikanta Das stated in his foreword to the report. The report also flagged some potential challenges in the skilling drive. These include adaptability of employees and management to imbibe new digital tools and high turnover rates in banks leading to loss of institutional knowledge once the employee exits the company.

Also Read: RBI’s jobs data has economists baffled, spurs a quantity versus quality debate

What is the situation world-wide.

Over the past decade, the global digital economy has grown 2.5 times faster than the physical world economy, accounting for over 15% of global GDP (United Nations, 2023). A report by investment banking major Citigroup released in June this year shows that the banking sector will be the hardest hit, with automation threatening 54% of human jobs. This is followed by insurance (48%) and software sector (36%). By 2028, the "profit pool" for the global banking sector could increase 9%, or $170 billion from the adoption of AI, rising from just over $1.7 trillion to close to $2 trillion, the report states.

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More From Forbes

How to deliver impactful virtual presentations.

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Delivering presentations is a powerful way to stand out at work. While presenting, especially via Zoom, can be daunting, mastering this skill can be a game-changer for your career. By delivering compelling presentations, you not only get noticed but also make a significant deposit in your personal brand bank. Here are eight tips to help you create presentations that are magnetic, mesmerizing, and memorable.

1. Grab ’Em From The Get-Go

First impressions are crucial due to a cognitive bias known as primacy, which means we form lasting opinions based on initial experiences. Start your presentation with something unexpected, interesting, and fun—like a riddle, quiz, inspiring video, or special guest. This sets the tone and signals to your audience that this presentation will be unique and engaging. Remember, if you don’t capture their attention from the start, you may lose them entirely.

2. Profit From The Power Of Three

Renowned keynote speakers and marketers often use the psychological power of three because it's a potent tool for making information memorable and easy to digest. Structure your content into three key themes or segments. One effective approach is Aristotle's triptych: tell your audience what you're going to tell them, tell them, and then tell them what you told them. This repetition reinforces your message and ensures it sticks.

3. Increase Interaction

In virtual presentations, multitasking by the audience is your biggest nemesis. To combat this, incorporate interactive elements like word clouds, hand-raising, chats, whiteboards, or contests. Tools like PollEverywhere , Slido , and Mentimeter can help keep your audience engaged and focused, reducing the temptation to multitask.

4. Supersize Your Slides

For online presentations, it's crucial to ensure your slides are easily readable on all devices, including mobile phones. Use large font sizes (32 pt. or higher) and limit your text to 12 words or fewer per slide. Prioritize visuals and videos, which are more engaging than text alone. Platforms like Unsplash and Pexels offer a wealth of free images to enhance your slides.

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5. Vivify With Video

Incorporate short, impactful videos to add energy and reinforce your message. YouTube has a vast array of content on almost any topic. Choose videos that are both entertaining and relevant, keeping them brief (1-2 minutes) to maintain engagement without distracting from your presentation.

6. Make Mixed Media Your Mantra

Avoid monotony to keep your audience attentive. Vary the content, format, and medium of your presentation. Use pattern interrupts like animated GIFs or sound effects to re-engage your audience and prevent them from zoning out.

7. Say It With Stories

Stories are an incredibly effective tool for engagement. Neuroscience shows that storytelling can boost audience retention by up to 65-70%, compared to just 5-10% for facts alone. Personal stories, in particular, help build a connection with your audience, making your message more meaningful and memorable.

8. Exude Emotion

While facts and data lend credibility to your presentation, emotions create lasting impressions. As Maya Angelou famously said, "People will forget what you said, but they will never forget how you made them feel." Infuse your presentation with emotion to add a personal touch and foster a stronger connection with your audience. Before you start, ask yourself: How do I want my audience to feel after my presentation?

By incorporating these fun and engaging techniques, you can transform your online presentations into magnetic, mesmerizing and memorable experiences, enhancing your personal brand along the way.

William Arruda is a keynote speaker, author, and personal branding pioneer. Join him as he discusses strategies for delivering powerful presentations alongside Executive Coach Deborah Grayson Riegel in Maven’s complimentary Lightning Lesson on August 16th.

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300 Indian banks hit after ransomware attack cripples payment systems: Report

A ransomware attack on a service provider of banking technology systems has temporarily shut down nearly 300 small banks across india. an audit was being conducted to ensure the attack does not spread further..

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• C-Edge Technologies, provider of payment systems to small banks, impacted
• Source says only 0.5% of country's payment volumes was hit
• Attack came after a massive global Microsoft outage last month

A ransomware attack on a technology service provider has forced payment systems across nearly 300 small Indian local banks to shut down temporarily, two sources directly aware of the matter said.

The attack affected C-Edge Technologies, a provider of banking technology systems to small banks across the country, they said. C-Edge Technologies did not respond to an email seeking comment.

The Reserve Bank of India, the country’s banking and payment system regulator, did not respond to Reuters' request for comment.

The National Payment Corporation of India (NPCI), an authority that oversees payment systems, in a public advisory issued late on Wednesday, said that it had "temporarily isolated C-Edge Technologies from accessing the retail payments system operated by NPCI".

"Customers of banks serviced by C-Edge will not be able to access payment systems during the period of isolation," the NPCI said. Nearly 300 small banks have been isolated from the country’s broader payment network to prevent any wider impact, the sources, who are officials at a regulatory authority, said.

"Most of these are small banks and only about 0.5 per cent of the country’s payment system volumes would be impacted,” said one of the sources.

India has nearly 1,500 cooperative and regional banks which mostly have operations outside big cities. It is some of these banks that have been affected, sources said.

NPCI is conducting an audit to ensure that the attack does not spread, the second source said.

The RBI and the Indian cyber authorities have warned Indian banks about possible cyber attacks in the past few weeks, banking industry sources and the first source said. Published By: Prateek Chakraborty Published On: Aug 1, 2024 ALSO READ | Fake tickets, scams and Russian attacks: Here are top Olympic-themed cyber threats ALSO READ | Cyber criminals hack into server of Noida bank, steal Rs 16.71 crore