outlets viable. it is, therefore, necessary that appropriate plans are put in place for effective technology deployment in payment systems and products to reduce costs. convenience it is important to ensure the convenience and comfort of the customers when they are offered payment products. for reaching the unbanked people, simple innovative solutions, such as, providing text and voice facility in local languages, standardized coloured icons of atms for easy recognition, standardised layout of atm screens, biometric authentication, etc. would enable greater acceptability. further, the number of bc outlets needs to be increased to provide easy access to people. banks may consider having exclusive bcs to handle remittance by appointing more number of merchant establishments in urban areas where migrants can avail of remittance service facilities. one of the difficulties faced by migrants undertaking a remittance transaction is providing / writing the ifsc code. banks ad bc outlets bis central bankers ’ speeches should proactively help the customer in getting and filling up the code, particularly for the less educated customers. confidence the primary component of acceptability of any financial product, particularly when it is an ict based product, is the level of confidence of the user. confidence is built by providing a secure and robust banking and payment system with very high standards of integrity. zero liability to inculcate confidence in electronic transactions is an option which should be explored and implemented early. robustness of the system can be ensured through regular business continuity plan ( bcp ) and disaster recovery ( dr ) exercises. systems should be put in place to arrest number of phishing and identity theft cases pertaining to card, mobile and internet banking. it security systems like redundancy, firewalls, anti - virus updation, role - based access system should be reviewed at frequent intervals to fight the attacks. banks may tap the services of mobile banking security lab ( mbsl ) set up by institute of development & research for banking technology ( idrbt ) to test security of mobile banking platform and products. some banks have implemented the system of sending alerts and confirmations using sms on the status of the payment processing during the transaction life - cycle of an electronic payment initiated by a customer. this has been very well appreciated by the customers. in short, technology along with appropriate simplified processes would help people to repose confidence in electronic payment system. convergence convergence is the key to provide payment system and banking services through different delivery channels. collaboration between the mnos and the banks would enable leveraging strength of

credit information system for enterprises and individuals. credit records were created for 13 million enterprises and nearly 600 million natural persons, including information of their borrowing activities and law - compliance in environmental protection etc, facilitating their economic and financial activities and promoting economic and social harmony. banking financial institutions have included inquiry into the credit information system as an indispensable step in pre - lending examination. some regions mandate that personal credit reports should be referred to when reviewing candidacy of deputies of the national people ’ s congress and delegates of china people ’ s political and consultative conference and admitting public servants. authorities in charge of human resources, social security, environment protection and quality inspection and quarantine also access the credit information system for information that will help them with industrial credit building and law enforcement. the credit information system, while exposing and preventing financial risks, promoting the deepening of china ’ s financial sector and improving the international competitiveness of china ’ s financial sector, contributes to the improvement of the social credit environment and the healthy development of economy. today the national credit information education month is kicked off in beijing. we hope the event is the just the beginning of credit knowledge dissemination and the improvement of credit awareness. the pbc will continue to support and actively engage itself in the building of a credit system in beijing so as to push forward the reform and development of beijing ’ s financial sector. this event takes the theme of “ keep good credit records and enjoy a happy life ”. if you want to know more about credit information, how to build good credit records and etc., you are welcome to join our activities in the education month. i wish the education month a complete success.