{"id":2583,"date":"2017-12-22T06:36:05","date_gmt":"2017-12-22T06:36:05","guid":{"rendered":"https:\/\/signdesk.com\/?p=2583"},"modified":"2025-09-17T05:11:21","modified_gmt":"2025-09-17T10:41:21","slug":"esign-emandate-blockchain-banking-india","status":"publish","type":"post","link":"https:\/\/melento.ai\/en-in\/blog\/esign-emandate-blockchain-banking-india","title":{"rendered":"Top 3 Tech For A Seamless Banking Experience"},"content":{"rendered":"<p><em><strong>Note:<\/strong>\u00a0The\u00a0<\/em>eSign<em>\u00a0based eMandate\u00a0services have been suspended following the Circular No:\u00a0NPCI\/2018-19\/NACH\/CIRCULAR NO.35\u00a0issued by the NPCI. However, we still offer API based <a href=\"https:\/\/melento.ai\/en-in\/blog\/netbanking-based-emandate\" target=\"_blank\" rel=\"noopener\">eMandate services<\/a>. Contact us to know more.<\/em><\/p>\n<h2><span style=\"color: #008000;\"><strong>Seamless Banking Experience<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">A fresh wave of easiness has enveloped Banking in India with the vast use of Internet-enabled services like mobile &amp; internet banking. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Customary hassles like manually filling elaborate documents, long queues towards the counter, and getting a sign of approval from the discerning banker have now started to form a nostalgic memory to the customer as the RBI has been fairly receptive to implementing innovative technologies to offer an easier banking experience.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter wp-image-3183 size-full\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2017\/12\/3-New-Age-Facilities-For-Easy-Banking-In-India.jpg\" alt=\"emerging technologies for banking\" width=\"770\" height=\"350\" \/><\/p>\n<p><span style=\"font-weight: 400;\">The recent past has witnessed multiple new-age technologies being tested by the RBI with an aim to save substantial expenses and expedite services. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">Banking is indeed a pivotal sector in all economies in the world and these 3 technologies could play a significant role in simplifying the existing processes.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>1. eSign<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Though a physical (handwritten) signature is still more popular than its electronic version, it\u2019s underlying mechanism, the Audit Trail provides a convincing argument for the wider adoption of eSign for authenticating documents in banking as well as other industries. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The Audit Trail essentially eliminates all chances of fraud or forgery associated with the handwritten signature while providing seamless convenience to signer to authenticate his\/her claim over the document.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Two forms of virtual signatures are legally binding in India according to the IT Act of India, 2000.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Dongle-based Digital Signature<\/span><\/li>\n<li style=\"font-weight: 400;\"><span style=\"font-weight: 400;\">Aadhaar based eSignature<\/span><\/li>\n<\/ul>\n<div align=\"center\"><a href=\"https:\/\/signdesk.in\/app\/#\/login\"><button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\">eSign Your Documents<\/button><\/a><\/div>\n<h2><span style=\"text-indent: -1.5em; color: #008000;\"><strong>2. eMandate<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Many recurring payments including the dividend, installments and utility payments which require recurring efforts from the sender is now automated with the use of eMandate.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">From about <\/span><i><span style=\"font-weight: 400;\">15 days<\/span><\/i><span style=\"font-weight: 400;\"> to a <\/span><i><span style=\"font-weight: 400;\">few hours<\/span><\/i><span style=\"font-weight: 400;\"> for the documents to get approved, going digital has proven to add a dynamic dimension to the mandate.<\/span><\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-8976\" src=\"https:\/\/melento.ai\/en-in\/blog\/wp-content\/uploads\/2017\/12\/Fintech-1.jpg\" alt=\"software-for-banking-industry\" width=\"7263\" height=\"2656\" \/><\/p>\n<p>Melento (Formerly SignDesk) simplifies Manual Mandate process by introducing paperless eNACH service.<span style=\"font-weight: 400;\">Also, the fact that eMandate can be authenticated by the legally binding eSign makes for an added convenience to individuals and businesses who can now complete the previously arduous procedure from the convenience of their smartphone or computer and in most cases, initiate payments on the same day. \u00a0<\/span><\/p>\n<div align=\"center\"><a href=\"https:\/\/melento.ai\/en-in\/enach\"><button class=\"wpcf7-form-control wpcf7-submit envor-btn envor-btn-primary envor-btn-normal\" type=\"button\">Request Free Demo<\/button><\/a><\/div>\n<h2><span style=\"color: #008000;\"><strong>3. BlockChain Technology<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">While eSign and eMandate have already proven to benefit the consumers in a progressive manner, the application of Blockchain could transcend the banking experience in fancy ways.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Cybersecurity has been a huge concern with banking across the world as colossal money has been stolen by deft hackers since the beginning of internet-enabled services.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">However, Blockchain\u2019s impossible-to-hack network is known to provide binding security to such mishaps.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Picture this, a SecurityWeek report suggests a Hollywood style crime wherein about $1 billion is said to have been stolen from 100 banks spread over 30 countries since December 2013.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">There being a multitude of such crimes, the software attacks like the recent Wannacry<em> Ransomware<\/em> too have put global banking in a litmus test.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Blockchain\u2019s emergence has been providential in such times as the technology is said to not only negate all such instances but also make transactions, especially cross-border transactions ridiculously cheap.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The technology has proven to carry out comprehensive authentication functions, eliminating the need for intermediaries.<\/span><\/p>\n<h2><span style=\"color: #008000;\"><strong>The Near Future<\/strong><\/span><\/h2>\n<p><span style=\"font-weight: 400;\">Banking in India is clearly in for progressive times. The Reserve Bank of India has been proactive in bringing eMandate under the National Automated Clearing House (NACH).<\/span><\/p>\n<p><span style=\"font-weight: 400;\">It has also announced a model platform for digital transactions with the Blockchain network.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Also, SBI has combined with 27 other banks in the country to explore Blockchain solutions like Smart Contracts and <strong><a href=\"https:\/\/melento.ai\/en-in\/blog\/aadhaar-based-ekyc\">ekYC<\/a>. <\/strong><\/span><\/p>\n<p><span style=\"font-weight: 400;\">The emergence of these technologies, especially Blockchain, \u00a0is comparable to the emergence of the Internet in the 90\u2019s and early 2000\u2019s &#8211; though it witnessed slow, gradual progress initially, it has managed to make a sweeping impact on global economy. <\/span><\/p>\n<p><span style=\"font-weight: 400;\">The impact of these new technologies being subjective to various factors, the consumer is definitely in for greater convenience going forward given the massive knowledge capital that has been arrived at.<\/span><\/p>\n<p><em>Let us know how we can help you with your Business goals. Drop a comment below or <strong><a href=\"https:\/\/melento.ai\/en-in\/talk-to-sales\">send us a message<\/a> <\/strong>and we would be happy to assist you achieve your Business Goals.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Note:\u00a0The\u00a0eSign\u00a0based eMandate\u00a0services have been suspended following the Circular No:\u00a0NPCI\/2018-19\/NACH\/CIRCULAR NO.35\u00a0issued by the NPCI. However, we still offer API based eMandate services. Contact us to know more. Seamless Banking Experience A fresh wave of easiness has enveloped Banking in India with the vast use of Internet-enabled services like mobile &amp; internet banking. Customary hassles like manually [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":3183,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"page_templates\/blog-new-3.php","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[14],"tags":[169,268,824,885,903,919,981,1091,1647],"class_list":["post-2583","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ekyc","tag-api-based-emandate","tag-blockchain","tag-ekyc","tag-emandate","tag-emandate-through-netbanking","tag-enach","tag-esign","tag-esignature","tag-netbanking-enach"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.1.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>3 New Age Facilities For Easy Banking in India<\/title>\n<meta name=\"description\" content=\"Banking in India is set to become a lot more easier, cheaper and less cumbersome with fast 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