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December 23, 2011

Tap the Agricultural Microfinance Opportunity

"If you are uplifting the poor, you are uplifting the nation," said Mahatma Gandhi.  It is two decades since the initiation of banking reforms in India. World-class banking products are now available, but a majority of the rural folk has no access to them.  We are talking about a Rs. 50,000 crores market lying untapped!  To exploit this potential opportunity, Indian banks should look at adopting the microfinance route taken by their counterparts in other countries, such as Bangladesh and Brazil.

Continue reading "Tap the Agricultural Microfinance Opportunity" »

Posted by Sathyanarayan Sivashanker at 3:24 AM | | Comments (1) | TrackBacks (0)

November 22, 2011

Why TV Banking Hasn't Taken Off

According to the 2001 census, out of 192 million households in India, 61 million owned a television set. If you consider this, and the fact that television reached rural India long before the mobile phone, isn't it surprising that TV banking   was launched in India only in 2009, ten years after it debuted in other parts of the world? 

Continue reading "Why TV Banking Hasn't Taken Off" »

Posted by Rajesh Jeganathan at 6:54 AM | | Comments (0) | TrackBacks (0)

November 2, 2011

Technology for Sharper Customer Focus

In a survey conducted by a management consulting and technology services company in India, 66% of the respondents said that good customer service was the main factor in their choice of banking institution. In another study conducted by the same company in North America, the quality of customer interaction was found to be the biggest driver of loyalty. 

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Posted by Vijayan Sundaram at 10:32 AM | | Comments (0) | TrackBacks (0)

October 12, 2011

Using Channel Innovation to Improve Customer Experience

An HNI customer walks into the bank with her RFID- embedded banking card in her wallet.  The bank representative has never met her, but he not only knows who she is but also has her account details in front of him.

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Posted by Rajesh Patta at 5:47 AM | | Comments (2) | TrackBacks (0)

September 19, 2011

How to win customers' trust? Ask them.

A freshly appointed personal banker persuades a new customer to accept a credit card, assuring him that it is free. Come year 2, and the customer finds an annual renewal charge on his card statement. He shrugs it off, along with the credit card. Maybe the bank will win him back with an apology and fee waiver, or maybe not.

Continue reading "How to win customers' trust? Ask them." »

Posted by Hema Singh at 5:24 AM | | Comments (0) | TrackBacks (0)

September 9, 2011

Liquidity & Cash Management - Growing Demands & Challenges

We are now over four years into the Credit Crunch - and the financial and banking markets continue to remain fragile. Even the largest names are under extreme scrutiny and so accurate liquidity and cash management remain vital for both corporates and financial institutions alike. At first glance the simple business of monitoring and managing cash flows should be a straightforward management practice, but increasingly it's a complex undertaking with many links and dependencies that can test the most efficient organisation.

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Posted by Sanat Rao at 5:16 AM | | Comments (0) | TrackBacks (0)

September 6, 2011

Technology to take banks to the last rural mile

"One more farmer commits suicide" - Did you know that this headline would appear less often if more villages had banks?  How are they connected, you may ask.  Well, in the absence of banks, unscrupulous money lenders offer loans to the village folk at such absurdly high rates that repayment becomes virtually impossible and death turns out to be the best option. Sad, but true! 

Continue reading "Technology to take banks to the last rural mile" »

Posted by Seetharaman Sriraman at 10:19 AM | | Comments (1) | TrackBacks (0)

August 29, 2011

Change and Agility: Two Sides, Same Coin

It's somewhat hard to imagine an agile bank, given the size, complexity and conservatism of financial institutions. But an agile bank isn't necessarily the fastest, but rather, is one that is fleet-footed, along with being nimble and flexible. It's a marathoner, not a sprinter.

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Posted by Kartik Ramadas at 9:51 AM | | Comments (0) | TrackBacks (0)

June 6, 2011

The Context and Need for Optimizing Banking Operations

It may have come to the forefront in the aftermath of the Global Financial Crisis, but optimization is hardly a new concept. Banks have been optimizing their operations - a series of processes that have basically stayed the same, yet evolved over time - since decades. However, in the last few years, the banking context has changed suddenly, dramatically, to underscore the need for operational excellence.

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Posted by Sai Kumar Jayanty at 11:22 AM | | Comments (0) | TrackBacks (0)

May 26, 2011

VOnline Banking: The future of banking over television

A recent study found that the average American spent 71% of his time with major media on 3 screens - the television, PC and mobile. These findings - which possibly apply to many markets - have major implications not just for advertisers, but for the financial services industry as well.

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Posted by Amit Vats at 8:10 AM | | Comments (0) | TrackBacks (0)

May 17, 2011

Why eBAM belongs within corporate online banking

When Swift launched eBAM (Electronic Bank Account Management), they considerably eased the pain of bank account management by business entities. eBAM is basically a set of standard messages using which small, medium and large companies can easily manage their account relationships across multiple banks, a task that would otherwise occupy considerable time and human resources.

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Posted by Amit Vats at 11:54 AM | | Comments (0) | TrackBacks (0)

May 12, 2011

Commercial B2B Portals Powered by Banks

Here's an idea for banks to make their corporate online banking service work smarter. For some time now, banks have offered a facility called EBPP (Electronic Bill Presentment and Payment) to utility companies, which the latter use to distribute bills and collect payments from their large customer base. Typically, the EBPP module is plugged on to the existing corporate online banking service.

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Posted by Amit Vats at 11:50 AM | | Comments (0) | TrackBacks (0)

May 3, 2011

Banking the Millennial Unbanked

Most banks have a well laid out inclusion strategy to tap the mass poor in rural areas. But how will they draw in the 'other unbanked' - members of the millennial generation who are growing up in cities everywhere, showing little interest in a formal financial relationship?

Continue reading "Banking the Millennial Unbanked" »

Posted by Gautam Bandyopadhyay at 10:37 AM | | Comments (0) | TrackBacks (0)

April 18, 2011

The Potential of Social Media in Banking

I have lost count of the number of surveys reporting the dominant influence of social opinion in decision-making. Today, almost every website features a link enabling visitors to 'share it' on Facebook and other popular networking platforms. Suffice it to say that consumers are starting to rely a lot more on the advice of their social communities than on company-sponsored communication while buying a product or service.

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Posted by Chandramouli Kundagrami at 8:58 AM | | Comments (0) | TrackBacks (0)

April 13, 2011

Jumpstarting the Use of Predictive Analytics

My last post talked about the factors dragging the adoption of Predictive Analytics. This one is about jumpstarting it.

Organisations have too many fears with regard to predictive analytics - can they handle it, can they afford it, will it work... etc. They need to dump this baggage. In truth, there are several ways to embrace predictive analytics, some simpler than expected. Rather than get bogged down by the enormity of the task, organisations must take a level-headed look at their processes and available data - which are the keys to determining the actual solution.

Continue reading "Jumpstarting the Use of Predictive Analytics" »

Posted by Balwant C Surti at 9:41 AM | | Comments (0) | TrackBacks (0)

April 6, 2011

What's Dragging Predictive Analytics?

So far, the story of Predictive Analytics has been one of unfulfilled promise. In this blog post and the next, I'll talk about the reasons for its slow takeoff and ways to accelerate adoption.

One of the things holding back predictive analytics is a lack of skilled resources. Working on a predictive analytics model is a specialised job that only statisticians can do, and they are hard to find. However, a lot of surrounding knowledge comes from the business domain, which can be leveraged by business users with the help of technical experts.

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Posted by Balwant C Surti at 6:55 AM | | Comments (0) | TrackBacks (0)

March 28, 2011

A new mission for branch banking

You'd think that the bank branch would have suffered amidst the hype about electronic channels. Well, think again. A study of 4,500 customers in U.S.A and Canada showed that two out of three had visited a branch in the past one year, and this was the most popular channel by a distance. Except in 2010, the number of branches has risen consistently in the U.S. since the mid 1990s. The global branch density stands at about 450 per million people.

Continue reading "A new mission for branch banking" »

Posted by Rajashekara V. Maiya at 3:56 AM | | Comments (0) | TrackBacks (0)

March 14, 2011

Banks Must Push the Innovation Envelope

There are several good reasons why banking innovation lags the drive and imagination of other industries. I won't go into those. Banking innovation has always operated within a restricted area, but of late, it has also become less remarkable. With most banks having access to similar technology, creative ideas are easily copied, leaving very little advantage for the first mover. The result is uniform, incremental and contemporaneous change across the industry.
 

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Posted by Anuradha Mallya at 5:20 AM | | Comments (0) | TrackBacks (0)

February 23, 2011

Virtual Vault: Your Online Filing Cabinet

"It isn't necessary to imagine the world ending in fire or ice. There are two other possibilities: one is paperwork, and the other is nostalgia."  - Frank Zappa

Much as we may dislike paperwork, it's what makes today's world go round. Hence, most of us who've lost an important original document don't wish to repeat that experience. Ever!

Continue reading "Virtual Vault: Your Online Filing Cabinet" »

Posted by Arunnima B S at 5:34 AM | | Comments (1) | TrackBacks (0)

February 14, 2011

OFM: Getting a Better Grip on Financial Management

The New Year is upon us and once again I find myself renewing my resolution to manage my finances better. While I've tried every trick in the book, starting with a handwritten account, moving to the good old reliable Excel sheet, and now a personal financial management (PFM) widget on the net, all of them have left me vaguely dissatisfied.

Continue reading "OFM: Getting a Better Grip on Financial Management" »

Posted by Arunnima B S at 4:06 AM | | Comments (0) | TrackBacks (0)

February 8, 2011

Banking Innovation 2011: What's Hot, What's Not

Not just a new year, but a brand new decade as well to keep the soothsayers busy. We add to the predictions with our list of the hits and misses in banking innovation in 2011. It looks like a sunshine year for mobile banking, with banks across the spectrum innovating on their standard offerings to create an element of differentiation. Emerging market banks will stick to their inclusion agenda over the mobile, while those based in the mature markets of high growth regions -such as Hong Kong or Korea - will brace themselves against mobile-led competition from non-banking newbie players. We think Europe will finally see some action at the higher end of smartphone-based banking.

Continue reading "Banking Innovation 2011: What's Hot, What's Not" »

Posted by Balwant C Surti at 5:06 AM | | Comments (0) | TrackBacks (0)

January 17, 2011

Cracking the Acceptance Problem in Mobile Commerce

Mobile commerce has been discussed in practically every forum that matters in the past two years. If it's so fashionable, how come we're yet to see real action? Before you protest, I agree that mCommerce is growing, but compare it with card-based commerce to put it in perspective. Plastic rules. While the number of mobile financial service users is expected to near the USD 650 billion mark by 2014, most analysts say that this does not mean that mobile commerce will grow as much. Compare this with USD 6 Trillion worth of card-based transactions (current values) and the penetration of the mobile wallet takes on a new perspective.

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Posted by Kiran KSR at 6:50 AM | | Comments (0) | TrackBacks (0)

January 4, 2011

Schools and Banks: What's Common?

As a father of a 6 year old and someone who has a keen interest in alternate models of education, I've been fascinated by some of the talks by Sir Ken Robinson on creativity and education reforms. Some of his observations about the current schooling system have a strong parallel in the way the banking system was and is being governed.

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Posted by Navin Rammohan at 6:10 AM | | Comments (1) | TrackBacks (0)

January 3, 2011

M-Commerce: Taking E-Commerce to the Next Level

During the 90s, we witnessed the emergence of a trend-setting technology that completely changed the way businesses functioned. 'E-Commerce' or Electronic Commerce brought about a path-breaking shift by offering us the ease of carrying out transactions online, from anywhere at any time. And today we witness the growing popularity of an edgier adaptation of e-commerce: M-Commerce, an extension of e-commerce offers us the same convenience, but at a more personal level. It refers to carrying out transactions online, using a mobile device. And the best bet about m-commerce is that it takes e-commerce to that section of the population which cannot afford computers, but widely use mobile phones.

Continue reading "M-Commerce: Taking E-Commerce to the Next Level" »

Posted by Gautam Bandyopadhyay at 6:02 AM | | Comments (0) | TrackBacks (0)

December 27, 2010

M-Commerce - All about growing consumer convenience

With a large number of mobile carriers today, wouldn't you agree that smart phones would soon displace debit and credit cards, and go way beyond e-commerce?  I would most certainly say that the mobile revolution is primarily changing the way consumer marketing occurs by making the best of today's growing technology. Mobile marketing is quickly gaining momentum, and it is perhaps just the tip of the iceberg that we see, as m-commerce will indeed work wonders for the average consumer. Needless to say that it's all set upon revolutionizing consumer marketing.

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Posted by Gautam Bandyopadhyay at 4:36 AM | | Comments (0) | TrackBacks (0)

December 14, 2010

The Emerging Opportunity in Prepaid M-Commerce

Don't you think today's smart phone is quickly morphing into a proverbial 'Swiss army knife' given the range of applications supported and the myriad of activities carried out by its user? Being a gadget geek myself, I'm not really complaining, but sometimes it can get pretty tough to keep up with all the latest apps!

Continue reading "The Emerging Opportunity in Prepaid M-Commerce" »

Posted by Gautam Bandyopadhyay at 4:27 AM | | Comments (1) | TrackBacks (0)

December 10, 2010

Addressing the Wealth Management Requirements of India's Mass Market Segment

The Indian mass market segment, broadly defined as 'families having investible surplus of INR 2 lacs to INR 10 lacs', is estimated to consist of more than 18 million families. The segment is further expected to grow at a handsome rate of more than 18%. This large pool undoubtedly offers a significant opportunity for wealth management service providers.

Continue reading "Addressing the Wealth Management Requirements of India's Mass Market Segment" »

Posted by Puneet Chhahira at 8:19 AM | | Comments (0) | TrackBacks (0)

December 8, 2010

The changing perspective of banking worldwide

Government intervention to revive flagging economies in North America and Europe has manifest in diametrically opposite forms, with the former stimulating sales and spending and the latter encouraging savings. As expected, non-regulatory bodies like the G-20 are also advocating reform for their member nations, putting further pressure on the already stretched global liquidity. Meanwhile, several European countries are poised on the brink of fiscal crisis. All these developments are stoking fears of inflation and liquidity shortage in the rest of the world.

Continue reading "The changing perspective of banking worldwide" »

Posted by Rajashekara V. Maiya at 5:02 AM | | Comments (0) | TrackBacks (0)

December 1, 2010

Wealth Management: Emerging Trends in a Dynamic Environment

The 2008 and 2009 market fluctuations have resulted in new trends emerging in the wealth management space. While providing wealth management services to individuals remains a top priority for financial institutions, there is a continuous movement from a transaction-focused revenue model to a diversified fee-based revenue model. Simultaneously, service providers are looking to change and streamline operations to improve efficiency and turnaround time.

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Posted by Abhra Roy at 3:09 AM | | Comments (0) | TrackBacks (0)

November 16, 2010

The Treasurer's Triangle

A treasurer and his team constantly walk the tightrope and a delicate balancing act is essential to measure and manage asset liability management process - invest in creditworthy assets, maintain sufficient liquidity and maximise returns. This triangular relationship between credit, liquidity and returns is of course not static. The elements constantly flex around - for example, in a stable market, precedence is given to returns, creditworthiness is usually easily determined as results  seem to be broadly predictable within the usual credit models, and liquidity is not an issue as the environment is free of major shocks. However, in a disturbed or chaotic market, the order is often reversed, the immediate worry is liquidity, this is of course closely tied to credit (which is typically deteriorating and perhaps in sudden and unexpected ways) and returns become almost an afterthought (though of course maintaining profitability is still a requirement but not always achievable in such circumstances).

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Posted by Milind G Kolhatkar at 5:33 AM | | Comments (0) | TrackBacks (0)

November 9, 2010

Retail Banking in the Asia Pacific: What's Innovative?

Asia Pacific, although impacted temporarily by the new global economic environment, is definitely on the growth path. Consistent increase in domestic consumption and low levels of individual debt is accelerating demand for retail financial services. And banks are innovating to stay ahead of the pack. In fact, according to a recent research conducted across South Asia, Southeast Asia (including Australia) and North Asia, 63% of bankers surveyed said that their banks increased investments in innovation last year, and the focus is unwavering on innovation in channel network distribution and products.

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Posted by Harini Babu at 11:02 AM | | Comments (0) | TrackBacks (0)

October 25, 2010

Changing Landscape of the Wealth Management Industry

The recent economic downturn has brought about quantum changes to the Wealth Management industry. It has triggered many debates on the role of wealth managers and private bankers in the crisis and the need for greater accountability on their part. The industry has perhaps not witnessed the kind of scrutiny it faces now. Investors are demanding greater transparency in the wealth management services and the industry is also seeing increasing regulatory and political pressures. In order to build trusting and sustainable relationships with the customers and achieve profitability targets wealth managers are looking at investing in a more client-centric wealth management model.

Continue reading "Changing Landscape of the Wealth Management Industry " »

Posted by Priyanka Diwan at 5:19 AM | | Comments (0) | TrackBacks (0)

October 7, 2010

How CRM can improve SMB banking

The problem with Small and Medium Businesses (SMBs) seems to be that they fall between two stools - their small size and higher risk rating don't make them corporate enough while their transaction levels are too high to dub them retail customers.  Unfortunately, owing to the sheer SMB numbers, many banks bracket them with mass market retail clientele. This needs to change because SMBs transact in separate fashion and have very different needs from corporate or individual users. And understandably, they expect these to be acknowledged by their banks through personalised, relevant and timely products and services.

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Posted by Shriram Parthasarathy at 8:02 AM | | Comments (0) | TrackBacks (0)

September 24, 2010

Group Lending: Strength in Numbers

Group lending, in which a loan is made out to a group whose members act as guarantors for each other, is the foundation of microfinance the world over. Hinged on enforcing fiscal discipline through peer pressure, its efficacy is reflected in a high repayment rate of 95% to 98%, a target that mainstream lending can only aspire to at present.

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Posted by Anish Kanayi at 2:40 AM | | Comments (0) | TrackBacks (0)

September 22, 2010

Play Safe with IP Protection

If the high-voltage Intellectual Property (IP) dramas of the corporate world have taught us a lesson, it's this - protecting one's invention is as important as the idea itself. Yet, most of us pay scant heed to doing so, sometimes at great cost. Safeguarding intellectual assets - ideas,  solutions, frameworks, components, tools, algorithms, methodologies and processes - through sound IP management offers several collateral advantages besides the obvious protection, including the prestige of an innovator tag, monetization opportunities and a hard to copy competitive edge.

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Posted by Teena Sudhakaran Nair at 12:13 PM | | Comments (0) | TrackBacks (0)

August 31, 2010

The Mobile Phone - the Bank of the Unbanked

A staggering 2.5 billion people, or about half the world's adult population, are unbanked posing a massive challenge to conventional modes of reach such as ATMs and local correspondent networks. But analysts believe that the mobile phone is well set to become the most important electronic banking channel in emerging markets, which incidentally house the bulk of those without access to financial services.

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Posted by Gautam Bandyopadhyay at 3:11 AM | | Comments (1) | TrackBacks (0)

August 10, 2010

A To Do List for Survivor Banks

Crystal ball gazing is an imperfect science at the best of times, yet I find myself wondering what lies ahead for banks that made it past the finish line of the economic crisis. What challenges do the new dynamics of compliance, consumerism and inclusivity bring?   And what must the industry do to turn those into opportunity? This is my checklist.

Continue reading "A To Do List for Survivor Banks" »

Posted by Arunnima B S at 9:47 AM | | Comments (0) | TrackBacks (0)

July 26, 2010

New forces at work in the survivor's world

'It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.' - Charles Darwin

More than a hundred years after Darwin made this observation, it continues to hold true. And that is why it is so important for banks which have lived through the crisis to get on top of the changes driving the survivor's world. While there are many propellers of change, tightening regulation, growing consumerism, measurable productivity drivers and growing unexplored potential are the most significant, each one carrying both threat and promise.

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Posted by Rajashekara V. Maiya at 3:57 AM | | Comments (0) | TrackBacks (0)

June 22, 2010

Good housekeeping for better banking

With bad news, now coming from Europe, showing no signs of letting up, the debate rages on about how to fortify the world's financial systems. That we will see more regulation and government intervention, is a no-brainer, but that apart, I foresee some 'collateral' developments as the banking sector goes about putting its house in order.

Continue reading "Good housekeeping for better banking " »

Posted by Rajashekara V. Maiya at 5:30 AM | | Comments (0) | TrackBacks (0)

June 18, 2010

Canadian banking: In slow transition

Canada's sedate banking industry has been roused by the arrival of new age non-traditional players like virtual and Internet-only banks. When customers gave them the thumbs up, it forced the big boys to sit up, take notice and launch similar initiatives. Thanks to these innovations, the industry has managed to come out of the trough it found itself in during the crisis.

Continue reading "Canadian banking: In slow transition" »

Posted by Anuradha Mallya at 4:44 AM | | Comments (0) | TrackBacks (0)

May 26, 2010

Financial Inclusion: Need of the Hour

Global recession is a thing of the past now - financial institutions across the world have entered into pre-recession era of growth and stimulation. While the financial behemoths in US and Europe are taking baby steps towards expansion currently, they have shown signs of much broader plans which would trigger growth for all the stakeholders. It is safe to say that today banks are cautious but not suspicious of the promise future holds.

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Posted by Varun Goyal at 8:51 AM | | Comments (0) | TrackBacks (0)

May 18, 2010

Drowning Lending Sector Rescued?

In the recent past, the lending sector was suffering an exceptional weakness globally. But thankfully, hope has reared its optimistic head. The financial establishments in the present year are witnessing a slight growth in the market as compared to the decline witnessed in 2008. There was a 2 percent decline in the global retail lending segment in 2008 culminating in a value of $27,489.20 billion but it is predicted that 2013 will see that value escalate to $32,748 billion, shooting up by 19.1 percent from 2008. Mortgage lending leads the lending arena with a market share of 80.7 percent in terms of value and the U.S sit on 50.4 percent of the market value worldwide. 

Continue reading "Drowning Lending Sector Rescued? " »

Posted by Ashwini Kumar Achutha at 4:38 AM | | Comments (0) | TrackBacks (0)

March 29, 2010

Modernizing Core Systems at Affordable Costs

Think...and while you are at it, think Bank-in-a-Box (BIAB). The bank is devising ways to spruce up efficiency and enhance their competitive edge through various means; perhaps a new product or service, but constrained by the legacy systems that are not up to it. And the bad news is that budgets are tight. The good news is that modernizing core systems to achieve these goals is now possible. And at an affordable cost.

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Posted by Rajashekara V. Maiya at 4:31 AM | | Comments (0) | TrackBacks (0)

March 12, 2010

Infosys Launches Finacle Treasury-In-A-Box™

Modernisation of treasury systems has always been a big challenge for banks, as it entails more than significant investment and business risk. Long lead times involving a lengthy scoping exercise could mean that the original objectives have changed by the time the system is finally ready, leaving the bank no better off than before. That apart, paying for a full-blown solution is not commercially viable for banks that might have operations limited to, say, the money market and fixed income segments.  The perceived business risks and a prolonged implementation process and apprehension on scale of investment drive banks to continue with their current solutions that has limited capabilities and high maintenance cost.

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Posted by Milind G Kolhatkar at 9:24 AM | | Comments (0) | TrackBacks (0)

March 9, 2010

Simplifying how banks earn wealth management revenue

From mere distributors who facilitated transactions, banks today have progressed to performing an advisory role for their clients. And this is in line with client expectations. Today, customers look at banks as a one stop shop to meet their financial needs. In this scenario, it is wealth managers’ aim to manage clients’ wealth holistically, offering solutions for all their financial requirements - constantly tracking their portfolio, comparing it against benchmarks and re-balancing when required. This expansion of banks’ role as wealth managers provides new opportunities to enhance their fee income generation capabilities.

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Posted by Priyanka Diwan at 9:45 AM | | Comments (0) | TrackBacks (0)

February 25, 2010

The Importance of Partnership in Banking

The changing landscape is forcing banks to look at different ways to enhance profitability through the services they offer. From being a one stop shop for all financial service needs, banks are consolidating their profitable ventures and partnering with third parties in areas of non-core competence.  Partnership, by its very nature, allows banks to share risks associated with their unproven capabilities and achieve higher cost efficiencies. In a recent research, when asked how banks saw the potential for partnerships and collaboration with other companies, these were some partnership categories that emerged:

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Posted by Navin Rammohan at 7:06 AM | | Comments (0) | TrackBacks (0)

February 15, 2010

A modular option for treasury implementation

Every treasury worth its stash understands the vital value that derivatives analytics can bring. More so, after the losses suffered by the banking industry in the recent crisis. As banking products get more and more complex, the challenge to get their ‘mark-to-model’ closer to ‘mark-to-market’ is greater. And robust analytics can prove to be the differentiator for banks that aggressively innovate with products but seek to keep their risks manageable.

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Posted by Milind G Kolhatkar at 10:20 AM | | Comments (1) | TrackBacks (0)

February 11, 2010

Guarding Against an Identity Crisis

If your pocket is picked, lost cash may be the least of your worries. There’s a goldmine hidden in a driver’s license, Social Secuirty Card and other documents of identification. With one strike every four seconds, ID theft – stealing an identity for financial or other gain – is the fastest growing crime in the United States. What’s worse, this can be a slow burn, lasting indefinitely and hurting repeatedly.

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Posted by Arunnima B S at 4:57 AM | | Comments (0) | TrackBacks (0)

February 9, 2010

Calling for more foresight, less hindsight

A wise man once said that “the most fertile source of insight is hindsight”. That’s never been truer than in the aftermath of the financial crisis, when pretty much everyone said they saw it coming!

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Posted by Rajashekara V. Maiya at 9:15 AM | | Comments (0) | TrackBacks (0)

Ease the pressure on collection management

Collection managers have an unenviable task these days. The global economic downturn has made loan delinquency a near universal problem, no longer restricted to a few customers or segments.

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Posted by Ashwini Kumar Achutha at 2:46 AM | | Comments (0) | TrackBacks (0)

January 22, 2010

Bancassurance – time to reassess the IT strategy

Bancassurance business has slowly and steadily gained acceptance worldwide. In pursuit of fee-based income avenues, banks across geographies have joined the Bancassurance bandwagon implementing various business models like setting up joint ventures, working as pure distributors, setting up new insurance businesses and acquiring existing insurance firms. In certain cases, a reverse flow has also been witnessed whereby insurance companies have set up or acquired banking businesses to compete with the serious Bancassurance players.

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Posted by Puneet Chhahira at 11:29 AM | | Comments (3) | TrackBacks (0)

November 26, 2009

UK Banking: What’s Emerging from the Flux

The financial environment in the UK is in a state of unrest - banks’ offerings are being revamped, regulations are changing fast, newer business models are coming to the fore, more players are entering the fray, technologies deployed are transforming progressively and the modus operandi at banks is altering rapidly. The result? Changing customer expectations and a climate that lacks sureness. So, where do the answers lie? Banks are as yet exploring.

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Posted by Chandramouli Kundagrami at 11:41 AM | | Comments (0) | TrackBacks (0)

August 26, 2009

Why banks must play “follow the (innovation) leader”

Do you remember the time when a few retail-focused banks set up in-branch café lounges to give customers a richer experience? Down the years, banks have borrowed ideas from other industries to innovate various aspects of their business – the patterning of loyalty programs as per the frequent flyer model is probably the best example.

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Posted by Chandramouli Kundagrami at 6:20 AM | | Comments (0) | TrackBacks (0)

August 17, 2009

Innovation is what can drive-up deposits in the U.S

The surge in demand for safe avenues has driven deposits at U.S. commercial banks to over US $7.3 trillion. But there’s room for more as regulatory developments, such as raising of the federal deposit insurance ceiling, restore consumer confidence in bank deposits. Should the 10% limit on deposit holdings per bank be enhanced, it will allow the big boys to go after more.

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Posted by Rajashekara V. Maiya at 5:01 AM | | Comments (0) | TrackBacks (0)

May 28, 2009

Africa: Showing the light?

Apparently, all roads lead to Africa these days. And we’re not talking about the IPL hoopla, although that was good while it lasted. While the rest of the world mounts a slow recovery from the worst financial crisis in recent memory, some parts of Africa have chugged along nicely, all this while, quietly unnoticed.

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Posted by Vinay C. S. at 10:37 AM | | Comments (2) | TrackBacks (0)

April 29, 2009

When the going gets tough… the tough get tougher!

Yesterday (28/4/09) saw an amazing amount of coverage in the press on the ‘Co-operative Financial Services, UK selects Finacle for home-market transformation’ press-release. Seeing this at the end of 26 months since we first engaged with CFS, and thinking how drastically the environment has changed from then to now, there is a strong feeling of pride, but there is also lots to ponder.

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Posted by Rajesh Ravindranath at 5:37 AM | | Comments (0) | TrackBacks (0)

April 22, 2009

Good Cause. Great Business.

“Over 3 billion people are unbanked.” An exciting or depressing statement, depending on which side of the fence you view it from. For the day-laborer who cannot commute 10 miles on a week day to make her deposit, of less than a dollar’s equivalent, at the nearest bank, it’s disheartening. But, for banks willing to accept the challenge of remedying this situation, with an eye on sustainable profits and the bigger picture, it’s a virtual goldmine!

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Posted by Haragopal Mangipudi at 5:29 AM | | Comments (1) | TrackBacks (0)

February 12, 2009

The answer is here…but does it answer the question out there?

One more comparison, one more analysis, one more indicator! And one intriguing question – what does it mean to the CXO at the bank?

It was only last week that I reviewed this latest analysis of global banking platforms – The Forrester Wave: Global Banking Platforms, Q1 2009. Undoubtedly I was a happy man. After all, brand Finacle was named a leader, once again. What next? Will this translate into more customer enquiries, more opportunities and more business? Only time will tell.

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Posted by Sumit Virmani at 5:15 AM | | Comments (0) | TrackBacks (0)

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