A prime concern for users with multiple bank accounts is security. And HDFC Bank is taking no chances. It uses 128-bit Secure Socket Layer (SSL) encryption technology and features automatic timeouts and a robust firewall. The service works only on popular browsers of Internet Explorer versions 5.5 and 6, and Netscape 4.7 version and above which offer this 128 bit security.

The reaction to the service from users has been a mixed one. For some, it's an answer to their prayers. Others would prefer to wait and watch how the service evolves.

Says Neha D: "Now I can manage accounts of my mom, sister and brother who live abroad on one page. It helps me route finances and manage money better with fewer headaches and less usage of Internet time. Though having to download a 128-bit secure browser was painful. I know it means more security for me. It's a good beginning… but I am hoping for more services and more facilities."

Pramod K, an analyst with a financial portal, points out, "It's handy for people who have multiple active accounts in the three banks. Most users like me usually use one more than the other. Also, I would prefer to read the fine print on security issues before actually registering for the service."

The launch has not been without teething problems. Users complained that the One View registration was excruciatingly slow and, initially, was not available at all.

Says Ashok Verma, an entrepreneur, "I spent an entire day trying to register only to find a "Service not available" sign after the entire four-click process. That was painful. Also, while it feels good to view all the money in different accounts together, the service would be more useful once transactions between my accounts (in different banks) are allowed. What I also think is missing are facilities like ordering cheque books or demand drafts, for which I would need to login into my Netbanking account. Besides, when I have to type five passwords into the five accounts, why add on one more for One View-that makes it one more password to remember and a lengthier process."

On his demand list before he returns to use this service: Enabling demat accounts so that he can check his holdings, allowing transactions, more banks on the list and faster speeds.

Rediff Guide to the Net spoke to Mudit Saxena, Vice President: Internet Banking and Marketing. Excerpts from the conversation:

Q: When was this service launched? A: We have launched OneView as recently as 19 March 2002. Q: Why was OneView launched? Who is it really targeted at? A: HDFC Bank has launched OneView in order to provide another convenience to our NetBanking customers. Our research showed that many customers tend to have relationships with more than one bank. We therefore thought if we could provide a service where they could view all their relationships with various banks at one site, it would be extremely convenient for our customers and help them to manage their finances better. Q: Will it be restricted to only HDFC Bank, Citibank and ICICI Bank? And was there any particular reason for choosing the other two banks? A: At this point, we offer our customers the opportunity to view their account details in ICICI Bank and Citibank in addition to HDFC Bank. Soon, we shall also add other banks, credit cards and financial service providers. We have chosen Citibank and ICICI Bank because they are the other two major banks in the country with a large online customer base. Q: This facility seems to reflect only on the pages of HDFC Bank, not on Citibank and ICICI Bank? Are you the only bank offering this? A: We are the first and only bank offering this service and so it's available only to our Net Banking customers. Q: How did you manage to get the three banks to come together? Does this mean you share databases? A: There is no collaboration with any of the other banks. This is a new technology that we have introduced for account aggregation. We have provided the software and the customer uses it to access his accounts with other banks. Q: This will help manage finances in three accounts better. But will transactions between the three banks also be possible? A: Currently, our customers will only be able to view their account details with the other banks. No transactions are possible. Q: Would this mandatory use of IE 5.5 and 6.0 and Netscape 4.7 make it difficult for users to operate this service? Also, most IE versions don't have the 128 bit encryption.... A: We understand that you find updating your browser a bit cumbersome. However the latest RBI guidelines mandate that all banks need to use 128-bit SSL encryption. Further, this is for your own security. We therefore recommend that you go through the one-time updating process for a better and more secure banking experience. Q: What plans do you have up ahead? A: Soon our customers will also be able to get a consolidated view of all their relationships with HDFC Bank such as Loans, Demat accounts, Credit Card, etc.

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