Open Banking Ecosystem
Open Banking Ecosystem Indian Open Banking / Neo Banking Ecosystem The Indian Open Banking Ecosystem has grown at a rapid pace over the last three years, with leading banks like Yes Bank & RBL Bank taking a leadership position from the initial days. Since then, many Banks and NBFCs have taken steps to partner […]
David Vs Goliath- Open Banking be the Power to Drive Growth
How do small banks and FIs compete with not only bigger banks but also Big Techs like Google, Apple, Amazon getting into Financial Services? Or, How do Smaller Startup/ New Fintech/ Early stage start-up compete with not only established unicorns or soonicorns such as PhonePe, PayTM but also Big Techs? The answer lies somewhere with […]
As a banker, I keep asking myself “Am I relevant?”
The banking industry is going through a major shift, with many roles getting redundant and many new ones getting created. As a fellow banker, are you focusing on winning in this ever-shifting world? – Technological interventions are impacting banking jobs in marketing, sales, operations, credit, and even tech. Are you aware of these changes? – […]
What would be the role of humans in Banks of the future?
As we look at evolving business models and customer expectations, we believe that Banking (or any Financial Service) would completely move to customer self onboarding and self-servicing. The entire framework would be supported by Artificial Intelligence and Machine Learning (and other technologies), and everything from marketing to sales to credit to ops would get automated. […]
API Banking: Why and What?
Why should banks initiate API Banking? – Will give them access to new channels / partners to acquire and service their clients. – Will help in providing seamless service to corporate clients for payments, trade finance through integrations with their own ERP systems – Will enable partnerships with Fintechs for lending, payments, trade finance – […]
Partner Business Banking
API Banking has been transforming and simplifying customer experiences ranging from smooth payment completion on Amazon to taking immediate loans from Fintechs like Happy Loans. Now, customer do not have to go to different partners to satisfy his / her needs. Despite using Ola for past many years, I still feel the joy of exiting […]
Impact of Fintech revolution : HR function to get revamped
HR in India’s Banking world has largely been focused on hiring and basic training as it handled massive business growth. With Digital enabling higher performance without proportionate increase in resources, the actions on HR would change with focus on: – Hiring Digitally savvy professionals across all units (not just in technology and digital units). Many […]
Tech is Tech until proven Business (Part 3)
Key areas, where banks have missed the business by underplaying technology are: API Banking: APIs have been in existence for a long time in banking industry. While specific technology may have changed, but APIs were used for a long time for ATM transactions, SWIFT, Payment Gateways, CIBIL, Bill Payments etc. New innovations like IMPS, UPI […]
Tech is Tech until proven Business (Part 1)
As a business person working in Digital and Technology for past 2 decades, I have realised that business leaders have a bit of mental block in managing technology. They typically ignore technology, until its all over the environment. By the time, they react, the market typically would have moved ahead and then they play catch-up […]