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Sunday, September 27, 2015

Breaking the Grid Authentication for NEFT transaction ICICI

As I stated in my previous post  I was facing a grief with the grid authentication for the completion of a NEFT transaction. Later after a R&D with the entire web and apps of the ICICI found a workaround to bypass this system for a successful money transfer without any silos.

Its been almost 2 days I posted the trouble faced due to this grid system associated.@ICICI care team reached me out in twitter and DM me that the concern team will call me and still waiting for their call.
Firstly I would not be a naysayer for the security system implemented. I do know how much security matters as I germinated from a security domain. I am more skeptical towards the info shared by every executive they defy with ( the only answer was we are deeply sorry for the inconvenience caused you could not proceed the transaction without a grid authentication).

There is a contrary in the workflow :

The major flaw is in when a user initiates a transaction the system couldn't update the users debit card details in real time if the user is not associated to any debit card the system should analyze and authenticate by the alternative means to complete the transaction.

This should happen else leave the end user wait till they receive the debit card for important transactions.

Workaround for this which I used:

When I explored the web login there was no way allowed to complete the transaction , suddenly a  spark came into my mind that we are in "apps world" why cant we try the existing apps in my gadget.

Tried would there be a way in imobile and failed miserable , but the tenacity gave me the last trump card app that was pockets .  The pockets app acts like a personal wallet where I can add funds from my ICICI account. New user can create a new account (non ICICI user) Existing user can login using the net banking credentials. Once done the way is out add the funds to wallet and now access the registered user with the account from the app and complete your transfer via NEFT with OTP.


MORAL / CONCLUSION: The financial institution who we rely on should educate the customers about the process that's secondary before that the employees inside the bank should know the process and the possibilities to overcome the issues caused. 

Do they conduct regular meetings and update whats new they launch what all procedures gets changed and stay update ??

Waiting for a response from #ICICI  Hope things will change.

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