Extensive Training for the Staff

Cosmos Bank conducted trainings for its own staff and those of other UCBs on topics like digital banking transaction flow, card issuance and c acquisition, UPI, IMPS, EMV, NFC, QR code, fundamentals of card issuing business, technical risk associated with various digital payment systems, security measures to be implemented by the banks and cyber security. Kale says the bank would like to conduct training for its own staff on topics like fundamentals of digital payments and available channels, National Financial Switch providing interoperability for ATM transactions between banks, ATM service management and best practices, .card schemes & settlement for Visa, Mastercard, DFS, JCB, CUP, Amex and RuPay; Card Scheme & Settlement of RGCS (RuPay Global Clearing & Settlement) for transactions done on POS & ecom channels by using different cards, DBT, services available through internet and mobile banking and platform used for cashless transactions using RFID Tag. Trainings, he believes, will help product penetration and create safety and security awareness and new business opportunities. “We want to train our staff on the existing digital channels in details in order to increase the penetration of the e-banking products and services. We like to create awareness about the technical risk associated with various digital payment systems and security measures to be implemented. Also, there is a need to train staff at branches on how to onboard societies and merchants onto the new channels by using third party UPI application TimePay.”