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Xerox Brings Banking Solutions

Researchers at Xerox have invented a banking solution that reduces the cost of establishing branches – even in rural areas – and automates much needed personal banking services, like opening a bank account or applying for a loan, making it simple for consumers in India and other developing countries to manage their money.

“This innovative approach puts the power of technology into the hands of customers by eliminating paperwork, lines and inconvenience,” said Dr. Nischal Piratla, senior entrepreneur in residence at Xerox Research Centre India (XRCI). “The solution is so simple and effective we see it also being used in some of the most remote corners of the world.”

Xerox innovation automates basic banking tasks by connecting a bank’s standardized back-office operations with its customer-facing operations – making it economically feasible for banks to set up rural branches. 

22-Oct-2012 08:05:53
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