Grooming for CEO position : Kill the Silos First
For centuries, the business world has been led and managed by Sales and Finance experts. Most of the CEOs would essentially work in either Sales or Finance all their life before taking the leadership position.Normally, people are constrained (they are also accountable for this) to remain in one silo (be it ops / tech / […]
Engine of a Car
Engine to a Car is akin to what Technology Platforms are to Banking… Still Tech is considered Support in a Bank / Financial Institution… Building Digital bank would require this old mindset to change… Lets work to make the change…. Lets Change the Way Banking Happens…
Digital Focused Or Branch Powered – Which way banking will go?
I believe that successful banks will have following approach: – They will have fully digital products sold through digital & non-digital channels (owned by banks as well as partners) – They will have branch presence though in a limited way. In Indian context, they may have nearly 200 branches (Indians minimally expect branch presence in […]
Digital Board Banking
Digital Board Banking – Is your board ready for Digital? What is your board’s understanding of Digital? Is there any Digital champion in the board? Does the board have a separate committee to drive digital? Is digital agenda driven by Board? Is there any linkage between digital agenda and business performance?
Who owns Digital?
Who owns Digital in your bank? Who owns Innovation in your bank? Do they belong to a specific team? If so then, Isn’t Digital expected in each business? Isn’t innovation central to each business? Do you this structure is temporary in nature? What should be the right structure?
Offline Channels Vs Digital Channels
With focus on digital, banks have started investing in customer journey in Digital world (mobile / internet). This has improved customer experience, however, the challenges come when transactions on digital channels fail. There is no servicing possible in branches and normally call centre is confused with such calls. How do we align customer experience across […]
Go Digital approach for old NBFCs:
Go Digital approach for old NBFCs: – Create a digital team (mix of pure digital + current team folks) – Create a completely parallel stack for pure digital sourcing and loan processing. This includes API enabled Loan Management System, customer frontend (app + web), document management solution and multiple loan origination platforms for different businesses. […]
Fintech inside the Bank
Banks need to setup a “Fintechs” within their organisation to drive Digital Initiatives like API Banking, Digital apps. Hackers inside the bank will drive the change fast… Hiring entrepreneurs and giving right environment would be key for this approach. Imagine 3 teams competing for creating API Banking Layer, 2 teams creating mobile app, 4 teams […]
Digital Revolution – Board focus is missing
There is dearth of board members from digital / tech background. Very few banks have gone ahead with getting digital leaders at the board level. This will change in next 12 to 18 months and my guess is that there may be RBI regulation coming up for appointing the same. Interestingly, RBI recently came up […]