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Banking - Days of Future Past

(The following is an anecdote from recent future)

I was only 10 years old when I got my first tab. It came preloaded with MyBank app. The MyBank app contained free Virtual Currency Credits which I could spend on my favorite social media games. It also inculcated in me the habit of saving since those virtual credits increased by 1% every month if I did not spend them. Furthermore, after winning certain levels of my favorite social media game, I could opt for more of MyBank Credits. The virtual credits also increased with number of friends on Facebook and number of tweets with #MyBank tag on twitter. I could always check MyBank Credits Balance on social media websites or on the app itself.

The best thing was to exchange those virtual credits for real life goodies at almost all Online Shopping Websites. In fact, I bought my first cricket bat with MyBank Credit savings. The app kept me updated with the latest offers on various websites and helped me in buying everything, from stationary to school books. As a bonus, buying via MyBank Credits gave me Cashbacks, even on school fees. Actually, my school had a tie up with MyBank app and it automatically deducted fees equivalent to MyBank Credits every month. My dad would happily buy me enough Credits for the fees since the cashbacks accounted for my pocket money to some extent

By the age of 15, I had earned myself title of innovator in social circles, all thanks to the Crowdfunding platform given by MyBank. I had a knack for making cool science projects. My Facebook friends contributed pennies and Facebook relatives contributed dollars in helping me accomplish some major feats.

By the time I was ready to give my first vote to a loyal political party, MyBank had slowly but steadily awarded me with plenty of Loyalty Credits. My relationship with MyBank became even stronger when they gave me a hefty Education Loan Rebate based on my behavioral profile. My social media interactions along with payment history and device type details gained me a high credit score. It’s a good thing that the MyBank smartphone app allows Biometric Authentication since I usually fumble with signatures. With fingerprint and iris scans along with voice recognition system, the security checks were completed on my phone itself and loan documents were made accessible in the app’s E-Locker.

Survival of the coolest was the protocol in college. I had to become a shopper first before becoming a student. The NFC enabled MyBank app obviated the need to stand in queues at shopping stores. Alternatively, I could Scan and Pay for merchandise by scanning their barcodes with my smartphone camera. As soon as I used to enter shopping mall, the genius GPS sensing app provided me notifications about the various brands on which I could earn discounts.

The Auto-Ticketing service allowed quick, easy and cost-effective train / flight / multiplex / theatres / amusement parks / temple / taxi / metro / toll booth ticketing. Based on my behavioral history, MyBank would pre-book or block the best seats and seek final confirmation from me. Even after booking, it would keep track of any better deal and try for swapping my booked ticket with another customer.

In the MyBank app’s Wishlist, I had wished for a bike and a guitar. MyBank kept sending me notifications about the best possible loan deals for various brands of bikes and guitars. I finally shortlisted my preferred deal and the Loan Integrator service intimated me about the total EMI (and not separate details for vehicle and education loan) which I would need to pay once I start earning. The beneficial caveat on the loan schedule was that the EMI would not be more than 40% of my earnings. The app would auto-reschedule my loan payments based on my earnings accordingly.

After bidding adieu to studies, I was ready to take on the world but found that my job did not pay me that much. MyBank’s Budget Planner came to the rescue. It not only kept track of my earnings and expenses but also compared it with other individuals who had a similar demographic profile. The app intelligently analyzed as to how were others doing better and then advise me on the best plans for minimizing my phone / electricity / water / entertainment expenses.

I had heard archaic stories about travelers’ cheques and international debit cards. With MyBank’s International Cloud Wallet, I never had to face any hassle while touring foreign countries. With my money preloaded securely in cloud, I never had to face any rainy day overseas. Furthermore, MyBank would make use of its pre-booked forward contracts in providing me the best exchange rates. In fact, the MyBank app allowed International Wire Transfers with a few swipes and clicks, let alone EFT and RTGS transfers

My remaining humble savings were then converted to bountiful returns by MyBank’s Financial Planner. The MyBank Financial Planner app came with a 24x7 Eveready Video / Text Chat which would advise me on my insurance, equity, gold, mutual fund and real estate portfolios. The seamlessness of money flow between these asset classes maximized my returns. To be honest, it was pseudo-decision making from my end. The chats helped me literally from end to end i.e. from determination of financial goals to sitting back and enjoying my retirement.

Now that I have retired, I enjoy my spare time with luxuries provided by MyBank Loyalty Club. The club is exclusive for those who have been associated with MyBank for more than 20 years. Not every club-member here is loyal to MyBank’s services since childhood. But MyBank’s immense online presence and tie ups with almost every reputable brand makes it is very easy to join the bandwagon at any stage of life. The MyBank app kept itself Ubiquitous on all operating systems of tech toys like smartphones, tabs, smart watches, gaming consoles, televisions etc.

MyBank’s powerful money management capabilities aided me in living better at every stage of life


Comments: (1)

A Finextra member
A Finextra member 25 September, 2014, 13:001 like 1 like

Good one..

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