Jupiter x Federal CDM 💵

I don’t usually touch cash unless it’s the only option available as an offline payment mode or if someone drops some hard cash in-hand :raised_hand_with_fingers_splayed:

Yesterday, was one such day where I had enough cash in hand that demanded a bank visit. But, unfortunately it’s after the banking hour’s (sic) and CDM was the only option. Luckily, I was at this popular mall in Kochi, Kerala that housed a physical Federal bank branch with CDM.

Went to the CDM kiosk, punched in my mobile and Jupiter account # to initiate the process. I then dropped all the INR 500 notes for the machine to accept and count.

Voila, within few seconds the entire process was over and I had the money in my Jupiter account! :money_with_wings::partying_face:

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It’s amazing, isn’t it?

It’s for sure. But, if only their core banking system was much robust than it’s today.

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Lulu mall :thinking:

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@Aswin_Benny You shared something similar right? Was it this?

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Hehe, yeah :grin:

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I think he also did cardless deposit…

@Binoy Did u use cardless deposit option in the cdm?

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Yes, cardless deposit it’s. Only mobile and account number required!

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I also thought this was cool, until I started wondering…

This capability actually stands against Jupiter or the entire “neobank” concept. It highlights how important physical presence is when it comes to money.

Gets me thinking - if the traditional banks just improve their Mobile Banking applications (ICICI is doing so good in this area), then they can kick each and every neobank out of the market. ICICI and HDFC had good shots with the likes of Pockets/Mine and PayZapp respectively. But they messed up big time.

HDFC Salary account (zero charges, endless capabilities) + neat and modern mobile banking application. I don’t know what’s the challenge for them to pursue this. Can’t these behemoth banks hire good frontend people? Views?