Several Founders, Co-Founders, CXO Bankers, CXO Fintech professional & people who participated in the ePanel discussions:
- Mr. Maneesh Mittal, former Chief Omnichannel and Digital, Shoppers Stop
- Mr. Fareed Jawad, VP-Product Development, Spreedly
- Mr. Ishan Vaish, India Partnership Manager- Worldwide Developer Relations, Apple
- Mr. Hemal Shah, former Technical Product Manager, Mastercard
- Mr. Vikas R Panditrao, Co-Founder, Forum of Industry and Academic Knowledge Sharing (FIAKS)
- Many other CEO/CXO Bankers & Fintech professionals on FIAKS Forum requested to remain anonymous
Now here’s something interesting- An app has been released by Google that enables banks and credit providers to remotely lock a mobile phone if the user misses monthly installment payments. [1]
- The app named is Device Lock Controller. The locked device will enable the users to access only limited functions such as emergency calls, incoming calls, select outgoing calls, settings, back-up & restore functions.
Isn’t this an extreme measure and blatant invasion of user’s digital rights, especially in these times?
- How can a bank control services that they are not a part of? Seems a very bad idea indeed!
- Isn’t it like if you default on loans then banks auction your cars or properties even if these are not part of security with the bank?
- There isn’t a privacy risk in auctioning, with controlling services of a personal phone, there is a privacy risk since bank personnel will have access to that device.
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