Punjab National Bank – one of the largest Public Sector Banks in India, is actively working on improving its technology to prevent frauds. Recently, a lot of Frauds are being reported in public sector banks. In several cases, Bank employees have also been found involved in fraud cases.
To stop these frauds, Punjab National Bank has improved its technology and is continuously monitoring the activities of its employees. Now, the activities of employees in Finacle software are being tracked.
For Example: If an employee enquires balance of a customer, then this activity gets recorded. If an employee views signature of a customer, then this activity also gets recorded in system.
Bank has requested its employees to enquire balance and view signatures of customers only if customers provide mandate for it. Otherwise strict action may be taken against the employee.
These changes might have been introduced due to the recent frauds reported in Banks. For Example: Rs.4.58 crore fraud was reported in ICICI Bank Branch. A female Employee withdrew money from FD of customer. So banks are taking steps to ensure that Employees don’t monitor accounts of customers without reason.
As you can see above, Employees are getting this message in Finacle software when they are enquiring balance of customers.
This will surely prevent unauthorised enquiry of account of customers and might help in preventing frauds.
What you think of this? Do let us know in the comment section below.
