Tab Banking Differentiators in services have become imperative for commercial banks that face stiff competition in the market. Online banking also known as internet banking is a method wherein banks enable customers to execute bank transactions over the internet in a secure environment. Banks have over time adopted more and more methods to digitalize their processes. Most banks now have tablet banking services. So, what is tab banking or tablet banking? Tablet banking is a type of digital banking service offered by banks. It has the same features of online banking but the medium of the transaction will be through a tablet. Customers’ can download a tablet app from the bank’s website. Some of the functions that can be performed on a tablet include: • • • • • •
Move funds between the bank account and any other external account Review of banking statements Stop payment on a check or Automatic Clearing House transfer Find directions to a bank branch or ATM Manage own accounts, settings, and security Access mobile check deposit service
However, it is to be noted that the features mentioned above may vary from bank to bank. The most popular of all tablet services is for opening a new account with the bank. Tablet banking is now an important methodology for doorstep banking services. The bank’s sales staff visits customers at their home and using the tablets completes all formalities for account opening like details of KYC and photographs of the applicant. This is a convenient method for the customer as he gets to open an account from home. It is also a faster method for the bank officials as all the formalities get done at the customer’s place and there is no to and fro with the submission of documents. Tablet banking is, therefore, an attempt to connect technology to expedite cumbersome documentation process, by removing rejections due to inadequate form for account opening or KYC mismatch. With the help of tablet banking, the turnout time and costs to the bank have been reduced considerably. ICICI bank has started using tablets to offer mortgage services in select cities like Mumbai, Pune, and Surat. The advantage of mortgage service through tablet is that customers can apply and loan sanctioned within the same day. The same is true for the process of opening an account. Banks have started self-service kiosks with tablets. A self-service kiosk gives customers easy access to account information, and services and tools. Moreover, customers can enjoy enhanced customer experience as they no longer have to wait in long queues to meet a bank officer.