Dematerialized Deposits Using XSI- An Application Over XSI
Traditional banking was based on paper documents like 'Deposit form', 'Withdrawal form' etc. The comfort level for the customer on paper based business was high as they can retain the paper and show as proof in case of disputes. The present Internet and Core banking systems which are widely in use are transaction based. One drawback of the present situation is that customer is not able to keep a copy of the transaction due to various reasons like multiple channels and lack of suitable infrastructure at client end etc. As a via media, the authors tried to bridge the gap and see whether they can give the comfort and trust levels of the paper document coupled with the intelligence of the technology.