Insourcing of Technology: Banks are getting it right

Technology is moving fast from “cost center” to “business / value center” In my article “Key Fintech Trends of 2018”, I had predicted that banks will start moving away from outsourcing of technology and will insource key areas like customer onboarding, omnichannel platform, analytics etc. This has started happening across leading banks in India as well…

Start-up journey : Few realizations

A) There is zero correlation between efforts and revenue in initial stages.     Don’t fret over it. B) Mental fitness and resilience are key to success.       Doing Yoga helps. C) Founders appear delusional at times to others. It takes time for others to understand them.       Listen to others…

Indian Fintech Ecosystem by The Digital Fifth

Indian Fintech Ecosystem by The Digital Fifth Essentially three eras: Before 2010: Digital marketplaces generating leads for loans and insurance 2010 – 2014: Payments ecosystem growing across B2B and B2C 2015 till date: Wallets going from expansion to closure, Usage of Indiastack (Aadhaar / eKYC / UPI / eSign etc) simplifying tech, Lending Fintechs prospering,…

COO / CFO managing Digital

Till when will CFOs / COOs oversee Technology & Digital in Financial Institutions.. These areas must be “not so critical” else, CEOs would have directly handled it. As per these institutions: – Digital is feel good / PR activity – Tech is support – Business happens through branches

Fintech Roles

By year 2020, each role in Financial Institutions will have “Fintech” embedded into it. There is absolutely no possibility of any role remaining independent of tech. Sales, Marketing, Compliance, Treasury, Operations and everyone else will embrace this. Either we accept the change now or get ready to face challenges. Feel free to comment. I will…

Digital Channels – Opex or Capex

All banks need to revisit their digital channels… they need continuous upgrades.. And not give responses like “we upgraded it last year” Few thoughts to enable digital: – Expenses in Digital are Opex in nature.. Don’t treat it like Capex.. Don’t let CFOs KILL the channel… – Hire designers in the bank without shackles of…