An online forum for thought leaders to discuss the challenges and opportunities impacting the changing world of banking.

July 7, 2014

Prequalification and Prioritization of Opportunities

Software vendors participate in multiple bids across the globe. Though each vendor has a set of presales processes spanning activities in the bidding lifecycle from end to end, they occasionally deviate from them for a variety of reasons ranging from tight deadlines to lack of skills.  However most of the global vendors follow the basic processes, ensuring compliance with eligibility conditions and stipulated timelines. There may be a few cases where the submitted proposals are not of the required standards and are likely to be rejected.

Continue reading "Prequalification and Prioritization of Opportunities" »

June 25, 2014

Process Integration and Customer Service Synchronization in the Services Industry

Most services organizations follow different processes spanning activities that run from end to end of the lifecycle of their business operations. Processes, such as those in customer services, are common across industries. 

Continue reading "Process Integration and Customer Service Synchronization in the Services Industry" »

June 16, 2014

Banking Sans Banks

The emergence of any new phenomenon often spells the demise of the existing scenario. The internet revolution is credited with ending the reign of several products, services and businesses, such as snail mail and music CDs. Physical marketplaces are fast losing their importance in the era of e commerce. Gaming, libraries, ticket counters, bill payment counters, newspapers & publications, advertising boards etc. have all rapidly moved to the internet domain, leveraging its ability to connect them with a massive borderless audience easily, in next to no time and cost.

Continue reading "Banking Sans Banks" »

What goes into Winning Bids?

The software companies invest time and effort in bid management process for submission of multiple bids as part of various pursuits. The bids which are submitted include solutions for products, services, application development and maintenance, infrastructure etc. The value of bids submitted is taken as an indication of potential/future business for the vendor. The field force of IT companies sources these opportunities through direct relationship with clients /consultants or engages with local partners in specific markets for procuring the RFP. The global analyst rating and credentials of IT vendor which are known to external world also ensure that some of the opportunities comes by default to the vendor.

Continue reading "What goes into Winning Bids? " »

How well is the IT industry aligning with the latest banking trends?

When compared to the last decade, when the IT industry provided software solutions meeting comprehensive banking needs, the trend in the current decade may be seen as a reversal. The core banking solution (CBS) with a centralized platform, along with channels built around the solution, just about met banks' requirements in the last decade. Though there were functionality and technology gaps in the solution, most clients and banks accommodated them as something that would only come into the picture in the future and made do with work around approaches or manual processes. A few banks built the missing functionality through customization or procured a lighter peripheral or specialized solution from the market. However, a CBS with multiple modules and solutions with rich functionality helped banks to improve business in that era.

Continue reading "How well is the IT industry aligning with the latest banking trends?" »

Workforce Automation with Mobile Devices

Automation is the key to effective selling, and sales force automation is prevalent in the retail industry. Workforce automation is an extension of sales force automation, where every employee works more efficiently using mobile devices such as tablets.

Continue reading "Workforce Automation with Mobile Devices" »

Heartbleed : What banks ought to learn

Around the second week of April, most of the security websites were inundated with news related to an interesting term called "Heartbleed ". I was intrigued by the term and went on to research further, thinking it might be just another bug in a colony of cyber threats. To my amazement, I found that Heartbleed was one of the biggest vulnerabilities ever, affecting over two thirds of servers worldwide and impacting billions of people across the globe.

Continue reading "Heartbleed : What banks ought to learn" »

June 5, 2014

Systems' Integration or Organizations' Integration?

It might be interesting to view Systems Integration work through the lens of organizational behavior. A typical vendor-client relationship between two firms is pretty unambiguous, easy to operationalize. A client organization engages a vendor for either upstream or downstream work; the vendor does it in its own setup and delivers to the client organization. The client organization evaluates the performance of the vendor, at times providing an incentive, and this easily fits into the overall supply chain with few adjustments on either side (vendor or client). Neither party is threatened in this setup.

Continue reading "Systems' Integration or Organizations' Integration?" »

May 29, 2014

"Groupon" Banking

Who does not love a deal? Companies, such as Groupon have made a global business around deals, local ones in particular. Combine that with social media, deliver deals on mobile and analyze the resultant Big Data, and we are talking about an interesting opportunity for banks.

Continue reading ""Groupon" Banking" »

Banking Complexity - Root Cause

Is complexity the natural byproduct of sophistication? Definitely not, if complexity drives up costs, drags down value and shuts out a potential 20% in profits. But that is exactly what complexity is doing to banking, a sector that ranks 6th on a global complexity index featuring 26 industries.

Continue reading "Banking Complexity - Root Cause" »

Subscribe to this blog's feed

+1 and Like Finacle

Follow us on

Blogger Profiles

Finacle on Twitter