About Us

Greetings fromĀ http://www.bankQ.in/

History would remember 8-Nov-2016, demonetization drive to recall all Rs 500 & Rs 1000 notes. We only got to see these things in films. I never imagined, at such a scale it can be done, but things were different under the power of our Honorable Prime Minister Shri Narendra Modi ji and his team. A demonetization drive to recall all Rs 500 & Rs 1000 notes, very secretly planned and the way it was announced on 8th Nov 2016 at 8:00 PM was it self a great success and surprise to many.

Due to the level of secrecy maintained before execution for the right result. Both common man and bankers were not prepared for unanticipated rush. From 8th night itself, there were long queue in front of the ATM to get Rs 100 notes. Small became big & big became worthless from 8th night. Source of the money had got the value of the money. 9th was declared as a holiday, so that banks & bankers get to work on plan of action till Dec-31. On 10th the queue in front of each Bank went up to a kilometer.

As saying goes, "Necessity is mother of all inventions". To solve the long waits in the queue in front of the bank, was the start of http://www.bankQ.in

To solve this long queues in front of the banks to deposit or withdraw or convert to new currency, we came up with a multiple solutions and the effective one was to book a slot for all the branches of all the banks in India in simple and diligent manner. This would allow people to book a prior appointment and on a specific day, the user would come to the bank and do the required transaction at that specific time on that specific day. This would help the customer to plan his day in advance and can avoid the queues in-front of the banks too.

While building the solution, we made sure that the solution is available for a common man, who holds a key pad dialing mobile with no internet. For catering this service, we have built a IVR system which would help the customer to book a slot and on successful booking, system would send a confirmation booking with date time and pin as a SMS.

For advance users with smart phones or desktop with internet access, we hosted our services on http://www.bankQ.in. From the website customers can book a slot and view all upcoming slots and cancel slot, if not required.

We are a Fin-Tech startup http://loanyantra.com from T-HUB Hyderabad. To solve the issue, we formed a team of 4 and set a deadline of 4-days and 4-Nights. The code name, we set for this project was 444-Kubera. Being incubated from T-Hub Hyderabad, we had 24x7 office setup and unlimited skilled resources. When ever we faced a road block, we took help from other startups from T-HUB. In 4 days the team grew to the right size to solve the issue.

The biggest hurdle for us was to get approvals from the banks to honor our token system. To get things to move fast, we had privilege of speaking to Shri Dr Y V Reddy ji Ex-Governor of RBI. Dr Y V Reddy ji guided us to get connected to to IDRBT Institute for Development and Research in Banking Technology(Established by Reserve Bank of India). We had a great privilege to demo the product and have a deep technical discussion of how we have implemented it. Team liked the solution and the way we are solving it. Things started to move in the right direction. Being in Hyderabad, we went to SBH & Andhra bank headquarters and met the top officials and got to demo the product. We are in the process of getting few branches to run the system and it would be taken to next level after that.

This project was built with pure service intention. We are not charging the customer for providing the service nor we plan to charge the banks for deploying the solution.

We look forward, to solve the present day India's biggest problem of executing the operation demonetization in smooth and efficient manner.

We are in... Are you part of it...

-Team bankQ.in