Impact of technology on the banking and financial services in India

Impact of technology on the banking and financial services in India
NRK Raman, COO iflex , 16th June, BangOnIT

Commend iiitb

Pace of change if becoming faster

Customer is demanding better faster and convenient services

Public sectors having monopoly
Private sector banks

HDFC 1994
7 million customers

Run for the money

Technology is enabling the business

Unfixed deposit - citibank

Whatz your balance sheet exposures ?
Market data Hedging instruments

Post 9/11
Know your customer

Drug Money

Unusual pattern in the transactions

Nigerian money

Money from questionable sources

Only industry where cost is going down.

2 million transactions /day

Banking Insurance Capital market

Corporate india is doing extremely well

NASDAQ sneeze BSE will catch cold

Opportunities
Finacle X Flexcube

Bank is coming to you.

Banks tracking the customer's changing needs
Child-adult-employed

Earning a fat salary

Banking computerisation

Sirus master network

Special emphasis on the rural credit

Money moves faster

Operational risk

Different shades

Chief Security officer