Posted by Anuradha Mallya (View Profile | View All Posts) at 12:48 PM
In my last post, I briefly discussed the historic evolution of non-branch banking channels in the Indian context. Almost every channel has a tremendous potential for growth, albeit from a small base. Going forward, banks will have to focus as much on the distinct financial needs of vast swathes of the population as on technology and innovation in order to accelerate the uptake of alternative and digital channels.
Continue reading "The evolution of banking channels in India - II" »
Posted by Anuradha Mallya (View Profile | View All Posts) at 7:14 AM
The banking sector's first ATM debuted in the late sixties, nearly five-and-a-half centuries after the world's first modern bank. From there, the pace of automated customer interfaces really stepped up - online banking in the mid-nineties, mobile banking in the early aughts and social media access in 2012. Today, banks are already in a race to conquer the wearables market even though the concept itself is yet to completely break free of the proof-of-concept stage.
Continue reading "The evolution of banking channels in India - I" »
Posted by Reghunathan Sukumara Pillai (View Profile | View All Posts) at 8:23 AM
IT vendors assisting banks in front- and back end processes and accounting either through a branch- or centralized core database developed several software solutions. They also built compliant solutions enabling banks to follow regulations and processes, reduce manual labor, errors and omissions and increase automation. These solutions were mostly utilized for streamlining operations and improving customer service. This set of solutions may be treated as first generation IT in the banking and financial sector.
Continue reading "IT Solutions Moving Forward" »
Posted by Kislay singh (View Profile | View All Posts) at 11:52 AM
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" »
Posted by Reghunathan Sukumara Pillai (View Profile | View All Posts) at 7:50 AM
As banks are increasingly moving towards specialized solutions to meet complex client needs, there is a need to redesign the channel solutions/architecture. Many IT vendors envisaged this change and are building solutions for the future in the form of a comprehensive channel platform offering.
Continue reading "Unified View and Dashboard Through Internet Banking" »
Posted by Madhumita Shyam (View Profile | View All Posts) at 7:26 AM
Like most of my peers, I follow the "self-service way" to complete most routine transactions. Whether it's a holiday or a night out at the movies, I do the booking online. No standing in line, no waiting. The same phenomenon is now taking over banking, with an increasing number of customers branching away from branches. While they would like face to face or assisted service to be at hand when needed, the option of self-service is one of their most important demands.
Continue reading "'DO IT YOURSELF' Banking" »
Posted by Sudha Annie Saigal (View Profile | View All Posts) at 6:16 AM
It is the age of 'personalized customer experiences'. Businesses all over the world are trying hard to custom-create customer experience, and banks are no different.
Continue reading "Personalized online banking experience: Does it get better than this?" »