Finacle thought paper discusses origins of banking in India and the major role played by technology in evolution of banking. The paper also highlights the challenges and list banking trends in India.
Although the Indian banking industry is nearly two hundred years old, it is only since
the last fifteen years that it has witnessed radical transformation of internal operations as well as products and services. Two significant developments have influenced the functioning of the industry. The first occurred in 1969 when the Indian government
nationalized a large number of banks, forcing them to look beyond urban markets
and initiate operations in the rural sectors. The next big move came in the 1990s in
the form of deregulation, which led to the birth of new generation private banks on
the heels of foreign institutions that had been permitted entry through relaxation of
FDI norms. These paved the way for an era of intense competition and technology-led
transformation within the industry. New entrants leveraged a combination of people, processes and technology to transform the way products and services were delivered to their customers.
Finacle Webinar – Innovation in Retail Banking 2013Infosys Finacle
Finacle from Infosys and Efma presented the key findings of their 5th annual report — ‘Innovation in retail banking’ study, at a webinar conduced on 22nd Oct’2013. The study, based on a global survey of banks and interviews with senior bankers, investigates how banks can overcome barriers to innovation and improve their innovation capabilities, as well as banking trends
This document discusses the internationalization process of retailing. It covers several key topics:
1) The growth of large international retailers has shifted power within distribution channels from suppliers to retailers. Retailers have developed specialized functions like marketing to support international expansion.
2) Internationalization in retailing refers to the establishment of operations and consumer relationships in new markets by the retailer organization. The transfer of retail concepts between markets also contributes to internationalization.
3) Factors driving internationalization include pursuing growth opportunities beyond saturated domestic markets and leveraging successful brands and services globally. International retailing is now seen as an opportunity rather than a necessity by many large retailers.
«Branch, Internet, Mobile, Digital» is a study that aims to synthesize and connect some of the most innovative actions that Banks, Fintechs and other actors are undertaking to develop a new model for the financial services.
Views expressed in this presentation are my own.
Measuring Customer-Centric Mobile Banking & BeyondDynatrace
This webinar with Forrester Research will help you gain valuable insights into the complexity of mobile banking and how mobile can give you a competitive step up. Mobile creates new business opportunities, and customer focused banks will have the edge. To do this you’ll need to have a unified view of the user behavior and delivered user experience across Web, mobile Web and mobile apps.
In this webinar you’ll learn how the right metrics and technology can help you:
• Discover the 5 categories of metrics that are critical for mobile banking and how to align them with business goals.
• Learn about the value of measuring and optimizing customer experiences on mobile banking strategies.
• Get a 5-Step process for assessing the effectiveness of your mobile banking metrics.
• Identify opportunities for improvements, new services, new business targets and models.
Finacle from Infosys discusses top 13 Banking Trends for 2013. Banking Industry is undergoing major transformation in it's IT Technology infrastructure to give the best to customers. The analysis also includes real time data to understand the changing requirements, expectations and need of the hour.
Mobile in Banking and Finance - What Make Sense and What Notr4b
In recent years, the banking & financial services industry has been undergoing rapid changes, reflecting a number of underlying developments. Internet, wireless technology, and global straight-through processing have created a paradigm shift - from brick-and-mortar banks to banking virtually across time zones, geographical locations, access points and delivery channels. Today Mobile revolution has disrupted banking industry and this presentation provides a detailed discussion about issues of Mobile Banking.
Although the Indian banking industry is nearly two hundred years old, it is only since
the last fifteen years that it has witnessed radical transformation of internal operations as well as products and services. Two significant developments have influenced the functioning of the industry. The first occurred in 1969 when the Indian government
nationalized a large number of banks, forcing them to look beyond urban markets
and initiate operations in the rural sectors. The next big move came in the 1990s in
the form of deregulation, which led to the birth of new generation private banks on
the heels of foreign institutions that had been permitted entry through relaxation of
FDI norms. These paved the way for an era of intense competition and technology-led
transformation within the industry. New entrants leveraged a combination of people, processes and technology to transform the way products and services were delivered to their customers.
Finacle Webinar – Innovation in Retail Banking 2013Infosys Finacle
Finacle from Infosys and Efma presented the key findings of their 5th annual report — ‘Innovation in retail banking’ study, at a webinar conduced on 22nd Oct’2013. The study, based on a global survey of banks and interviews with senior bankers, investigates how banks can overcome barriers to innovation and improve their innovation capabilities, as well as banking trends
This document discusses the internationalization process of retailing. It covers several key topics:
1) The growth of large international retailers has shifted power within distribution channels from suppliers to retailers. Retailers have developed specialized functions like marketing to support international expansion.
2) Internationalization in retailing refers to the establishment of operations and consumer relationships in new markets by the retailer organization. The transfer of retail concepts between markets also contributes to internationalization.
3) Factors driving internationalization include pursuing growth opportunities beyond saturated domestic markets and leveraging successful brands and services globally. International retailing is now seen as an opportunity rather than a necessity by many large retailers.
«Branch, Internet, Mobile, Digital» is a study that aims to synthesize and connect some of the most innovative actions that Banks, Fintechs and other actors are undertaking to develop a new model for the financial services.
Views expressed in this presentation are my own.
Measuring Customer-Centric Mobile Banking & BeyondDynatrace
This webinar with Forrester Research will help you gain valuable insights into the complexity of mobile banking and how mobile can give you a competitive step up. Mobile creates new business opportunities, and customer focused banks will have the edge. To do this you’ll need to have a unified view of the user behavior and delivered user experience across Web, mobile Web and mobile apps.
In this webinar you’ll learn how the right metrics and technology can help you:
• Discover the 5 categories of metrics that are critical for mobile banking and how to align them with business goals.
• Learn about the value of measuring and optimizing customer experiences on mobile banking strategies.
• Get a 5-Step process for assessing the effectiveness of your mobile banking metrics.
• Identify opportunities for improvements, new services, new business targets and models.
Finacle from Infosys discusses top 13 Banking Trends for 2013. Banking Industry is undergoing major transformation in it's IT Technology infrastructure to give the best to customers. The analysis also includes real time data to understand the changing requirements, expectations and need of the hour.
Mobile in Banking and Finance - What Make Sense and What Notr4b
In recent years, the banking & financial services industry has been undergoing rapid changes, reflecting a number of underlying developments. Internet, wireless technology, and global straight-through processing have created a paradigm shift - from brick-and-mortar banks to banking virtually across time zones, geographical locations, access points and delivery channels. Today Mobile revolution has disrupted banking industry and this presentation provides a detailed discussion about issues of Mobile Banking.
Globalization has significantly impacted the banking sector in India. Prior to liberalization in 1991, Indian banks lacked competitiveness and customer focus. The opening of the Indian economy introduced foreign and private banks that emphasized customer service, technology innovations, and new banking products. While increased competition has benefited customers, globalization has also introduced risks like increased cybercrime and volatility from global financial markets that impact the entire banking sector. Overall, globalization has transformed retail banking in India and increased competitiveness, technology usage, and customer satisfaction across both private and public sector banks.
The banking industry in India is governed by the Banking Regulation Act of 1949. It began in the late 18th century and saw major developments post-independence including the nationalization of banks in 1969. Today it includes both public and private sector banks as well as foreign banks. The industry has grown significantly in size and now includes over 67,000 branches across the country. However, it also faces challenges such as a lack of expertise in new products, increasing competition, and the impact of global financial crises. New trends include a focus on customer centricity, staff efficiency, and greater use of technology.
This document discusses innovations in the Indian banking industry through increased adoption of information technology. It outlines how IT has transformed banking transactions and systems, providing benefits like anytime banking from anywhere. Recent technological products discussed include ATMs, electronic funds transfer, mobile banking, and more. While IT adoption has improved access and services, it also presents challenges for banks around choosing the right channels, managing investments and costs, introducing technologies in rural areas, and ensuring security.
HOW OPEN APIS WILL CHANGE THE FUTURE OF BANKINGfigo GmbH
The document discusses how open APIs will change the future of banking. It begins by explaining that data is the new oil and has value when aggregated from different sources to provide an overall view. It then defines APIs and provides examples of how companies like Google and Salesforce use APIs to enable third party developers. The document connects this to banking by explaining that new requirements around speed, innovation and flexibility are only being met by third parties, not banks. It argues that banks need to adopt an API-first approach to remain relevant by providing examples of FinTech companies using banking APIs in innovative ways like account aggregation, investing solutions, and risk management tools for small businesses.
The document summarizes the key findings of Accenture's 2016 Technology Vision report for the banking industry. It identifies five technology trends that will be essential for banking success: 1) the platform economy, where banks can create value by joining digital platforms and ecosystems, 2) digital trust, where banks must strengthen ethics and security to rebuild customer trust, 3) liquid workforce, utilizing flexible teams focused on business outcomes, 4) intelligent automation, using AI and automation to improve operations by working with people, and 5) predictable disruption, where banks must proactively monitor digital ecosystems to anticipate changes. The report provides analysis and recommendations for how banks can adapt to these trends.
This presentation have the detailed analysis of the Indian banking sector, how it has evolved and reformes that have come gradually.It also has a classic case of merger of ICICI bank with BOM.
The document provides information on banking in India. It defines banking as accepting deposits that are repayable on demand for the purpose of lending and investment. It discusses the key functions of commercial banks like accepting deposits and lending. It also outlines the banking system in India, including the roles of the Reserve Bank of India and State Bank of India. Major trends in the banking sector include the rise of electronic payments and digital banking services like internet banking, mobile banking, and real-time fund transfers.
This document provides an overview of the banking system in India. It defines banking and outlines the key laws and institutions that govern banking operations, including the Reserve Bank of India Act and the Banking Regulation Act. It describes the structure of banks in India, categorizing them as commercial banks, cooperative banks, and development banks. It provides details on the various types of commercial banks, cooperative banks, and development banks in India. It also summarizes the major functions and roles of the Reserve Bank of India in regulating the banking system.
Finacle - Bank Customer Service: Click or Dial versus Branch BankingInfosys Finacle
Finacle paper on bank customer service analyses important factors that impact the adoption of technology on the banking ecosystem and how the effective balancing of the human factor against technology adoption can contribute to a fuller realization of banks goals.
Finacle paper on secure coding practices gives an insight into application coding security and highlights how comprehensive approach in security is need to not only secure code but also web servers and databases.
Finacle Digital Commerce solution leverages the power of digital money to unlock new revenue streams, extend distribution reach, and foster customer loyalty for financial institutions, telecom service providers, and retailers.
Finacle Thought Paper - Digital Wallet Success StrategyInfosys Finacle
Finacle thought paper discusses how digital wallet might replace credit cards and cash in near future and list important must have strategies for digital wallet service providers to grow.
Finacle - Agency Banking: New Frontiers In Financial InclusionInfosys Finacle
Finacle thought paper identifies agency banking as a new frontier in financial inclusion. It highlights the important features and benefits of banks emerging with non-financial institutions in order to drive business growth.
Thought Paper: Overview of Banking ApplicationsInfosys Finacle
Card based transactions account for barely 1% of all non-cash transactions by value,in India.Security concerns rank high on the list of barriers to card adoption,not just in this country,but also in those with much higher penetration.
Perspective- Multi Channel Banking: A Five Point Strategy Infosys Finacle
The last two decades have witnessed a paradigm shift in the way people bank. While the shift from branches to ATM based cash withdrawals and from there on to internet banking was slow, it has been a different story in the case of mobile banking. The growth in adoption of mobile banking over the last three years has been tremendous. Many banks have rolled out internet banking, mobile banking, call centers, ATM based transactions and video banking. But, have banks moved from multiple channels to true multi-channel banking with seamless cross channel experiences?
Here we explore a five point strategy that would empower banks and financial institutions to define a robust multi-channel offering.
Thought Paper:Four Strategies to Build the Smarter BankInfosys Finacle
Robert Kiyosaki, American investor and author (of Rich Dad Poor Dad fame), hits the nail on the head when he says, “You have to be smart. The easy days are over.”
As consumers go about trying to manage their money, there is an opportunity for banks to show them that they’re not alone – by being the ideal financial partner that listens, understands needs, shows respect, acts with integrity, serves with a purpose and exceeds expectations through its products, services and financial guidance.
In other words, by becoming a smarter bank.
Perspective: The rise and rise of emerging market banksInfosys Finacle
www.infosys.com/finacle
The emerging market banks which were plagued by excess regulation and inefficiency a few decades back have finally come into their own and are here to stay.
Perspective: Needed, A Holistic Approach to Reputation Risk Management in Banks Infosys Finacle
This document discusses the need for banks to take a holistic approach to managing reputation risk. Currently, most banks silo each type of risk (e.g. credit, market, operational) without considering how they interconnect and impact reputation. The document advocates looking beyond individual risk departments to foster a culture where all employees understand how their actions can affect reputation risk. It also suggests learning from other industries' reputation risk practices and using new technologies like analytics and social media monitoring to proactively manage this critical intangible asset.
Perspective: Auditing norms for pki based applicationsInfosys Finacle
This document discusses auditing norms for PKI-based applications. It begins by describing the organization structure of PKI systems, which includes the Controller of Certifying Authority (CCA), Certifying Authorities (CAs), and Registration Authorities (RAs). It then explains that auditing PKI applications is important to ensure they are functioning properly. The challenges of auditing include certificates having a limited validity and the inability to audit external interactions. It provides recommendations for overcoming these challenges such as using secondary servers and accounting for variations in encryption algorithms. The document concludes by outlining specific considerations for auditing the PKI structure and applications.
Mobile Banking – A Transformation of Traditional BankingInfosys Finacle
www.infosys.com/finacle
How comfortable are we with Mobile Banking? Not very much, it seems. Even today, most of us who use mobile banking do so merely to check account information, transfer funds or pay bills. How many of us are aware of mobile technologies like Near Field Communication (NFC) and Remote Deposit Capture (RDC), which have evolved in response to customers’ need for a mechanism to make quick in-store/ transit purchases and check deposits without visiting a branch or an Internet banking site?
http://www.infosys.com/finacle
Mobile banking has often been perceived
either as an extension of internet banking or
as an isolated channel, which can help banks
in minimizing costs and generating better
revenue streams. One of the major reasons
cited for the success of mobile banking is the
omnipresent nature of the channel, which sets
it apart from all the traditional ones. This
differentiator can drive revenues not only from
the mobile perspective but also in conjugation
with other channels. Today, banks need to
carefully study how the mobile can fit into the
overall multi-channel framework in order to truly
leverage the benefits associated with it.
This document discusses how social media is changing the banking industry and how banks can leverage social media. It provides perspectives from banking executives on how social media can drive innovation through service, product, and process innovation. Social media allows banks to improve customer service, generate leads, deepen customer relationships, and differentiate from competitors. Banks need to listen to customers on social media, engage in conversations, and join discussions in online communities to benefit. Executives share how their banks are learning from early social media experiences and adapting their strategies to be more active and responsive online. Web listening tools and private online communities are presented as ways for banks to gain insights from customers.
Globalization has significantly impacted the banking sector in India. Prior to liberalization in 1991, Indian banks lacked competitiveness and customer focus. The opening of the Indian economy introduced foreign and private banks that emphasized customer service, technology innovations, and new banking products. While increased competition has benefited customers, globalization has also introduced risks like increased cybercrime and volatility from global financial markets that impact the entire banking sector. Overall, globalization has transformed retail banking in India and increased competitiveness, technology usage, and customer satisfaction across both private and public sector banks.
The banking industry in India is governed by the Banking Regulation Act of 1949. It began in the late 18th century and saw major developments post-independence including the nationalization of banks in 1969. Today it includes both public and private sector banks as well as foreign banks. The industry has grown significantly in size and now includes over 67,000 branches across the country. However, it also faces challenges such as a lack of expertise in new products, increasing competition, and the impact of global financial crises. New trends include a focus on customer centricity, staff efficiency, and greater use of technology.
This document discusses innovations in the Indian banking industry through increased adoption of information technology. It outlines how IT has transformed banking transactions and systems, providing benefits like anytime banking from anywhere. Recent technological products discussed include ATMs, electronic funds transfer, mobile banking, and more. While IT adoption has improved access and services, it also presents challenges for banks around choosing the right channels, managing investments and costs, introducing technologies in rural areas, and ensuring security.
HOW OPEN APIS WILL CHANGE THE FUTURE OF BANKINGfigo GmbH
The document discusses how open APIs will change the future of banking. It begins by explaining that data is the new oil and has value when aggregated from different sources to provide an overall view. It then defines APIs and provides examples of how companies like Google and Salesforce use APIs to enable third party developers. The document connects this to banking by explaining that new requirements around speed, innovation and flexibility are only being met by third parties, not banks. It argues that banks need to adopt an API-first approach to remain relevant by providing examples of FinTech companies using banking APIs in innovative ways like account aggregation, investing solutions, and risk management tools for small businesses.
The document summarizes the key findings of Accenture's 2016 Technology Vision report for the banking industry. It identifies five technology trends that will be essential for banking success: 1) the platform economy, where banks can create value by joining digital platforms and ecosystems, 2) digital trust, where banks must strengthen ethics and security to rebuild customer trust, 3) liquid workforce, utilizing flexible teams focused on business outcomes, 4) intelligent automation, using AI and automation to improve operations by working with people, and 5) predictable disruption, where banks must proactively monitor digital ecosystems to anticipate changes. The report provides analysis and recommendations for how banks can adapt to these trends.
This presentation have the detailed analysis of the Indian banking sector, how it has evolved and reformes that have come gradually.It also has a classic case of merger of ICICI bank with BOM.
The document provides information on banking in India. It defines banking as accepting deposits that are repayable on demand for the purpose of lending and investment. It discusses the key functions of commercial banks like accepting deposits and lending. It also outlines the banking system in India, including the roles of the Reserve Bank of India and State Bank of India. Major trends in the banking sector include the rise of electronic payments and digital banking services like internet banking, mobile banking, and real-time fund transfers.
This document provides an overview of the banking system in India. It defines banking and outlines the key laws and institutions that govern banking operations, including the Reserve Bank of India Act and the Banking Regulation Act. It describes the structure of banks in India, categorizing them as commercial banks, cooperative banks, and development banks. It provides details on the various types of commercial banks, cooperative banks, and development banks in India. It also summarizes the major functions and roles of the Reserve Bank of India in regulating the banking system.
Finacle - Bank Customer Service: Click or Dial versus Branch BankingInfosys Finacle
Finacle paper on bank customer service analyses important factors that impact the adoption of technology on the banking ecosystem and how the effective balancing of the human factor against technology adoption can contribute to a fuller realization of banks goals.
Finacle paper on secure coding practices gives an insight into application coding security and highlights how comprehensive approach in security is need to not only secure code but also web servers and databases.
Finacle Digital Commerce solution leverages the power of digital money to unlock new revenue streams, extend distribution reach, and foster customer loyalty for financial institutions, telecom service providers, and retailers.
Finacle Thought Paper - Digital Wallet Success StrategyInfosys Finacle
Finacle thought paper discusses how digital wallet might replace credit cards and cash in near future and list important must have strategies for digital wallet service providers to grow.
Finacle - Agency Banking: New Frontiers In Financial InclusionInfosys Finacle
Finacle thought paper identifies agency banking as a new frontier in financial inclusion. It highlights the important features and benefits of banks emerging with non-financial institutions in order to drive business growth.
Thought Paper: Overview of Banking ApplicationsInfosys Finacle
Card based transactions account for barely 1% of all non-cash transactions by value,in India.Security concerns rank high on the list of barriers to card adoption,not just in this country,but also in those with much higher penetration.
Perspective- Multi Channel Banking: A Five Point Strategy Infosys Finacle
The last two decades have witnessed a paradigm shift in the way people bank. While the shift from branches to ATM based cash withdrawals and from there on to internet banking was slow, it has been a different story in the case of mobile banking. The growth in adoption of mobile banking over the last three years has been tremendous. Many banks have rolled out internet banking, mobile banking, call centers, ATM based transactions and video banking. But, have banks moved from multiple channels to true multi-channel banking with seamless cross channel experiences?
Here we explore a five point strategy that would empower banks and financial institutions to define a robust multi-channel offering.
Thought Paper:Four Strategies to Build the Smarter BankInfosys Finacle
Robert Kiyosaki, American investor and author (of Rich Dad Poor Dad fame), hits the nail on the head when he says, “You have to be smart. The easy days are over.”
As consumers go about trying to manage their money, there is an opportunity for banks to show them that they’re not alone – by being the ideal financial partner that listens, understands needs, shows respect, acts with integrity, serves with a purpose and exceeds expectations through its products, services and financial guidance.
In other words, by becoming a smarter bank.
Perspective: The rise and rise of emerging market banksInfosys Finacle
www.infosys.com/finacle
The emerging market banks which were plagued by excess regulation and inefficiency a few decades back have finally come into their own and are here to stay.
Perspective: Needed, A Holistic Approach to Reputation Risk Management in Banks Infosys Finacle
This document discusses the need for banks to take a holistic approach to managing reputation risk. Currently, most banks silo each type of risk (e.g. credit, market, operational) without considering how they interconnect and impact reputation. The document advocates looking beyond individual risk departments to foster a culture where all employees understand how their actions can affect reputation risk. It also suggests learning from other industries' reputation risk practices and using new technologies like analytics and social media monitoring to proactively manage this critical intangible asset.
Perspective: Auditing norms for pki based applicationsInfosys Finacle
This document discusses auditing norms for PKI-based applications. It begins by describing the organization structure of PKI systems, which includes the Controller of Certifying Authority (CCA), Certifying Authorities (CAs), and Registration Authorities (RAs). It then explains that auditing PKI applications is important to ensure they are functioning properly. The challenges of auditing include certificates having a limited validity and the inability to audit external interactions. It provides recommendations for overcoming these challenges such as using secondary servers and accounting for variations in encryption algorithms. The document concludes by outlining specific considerations for auditing the PKI structure and applications.
Mobile Banking – A Transformation of Traditional BankingInfosys Finacle
www.infosys.com/finacle
How comfortable are we with Mobile Banking? Not very much, it seems. Even today, most of us who use mobile banking do so merely to check account information, transfer funds or pay bills. How many of us are aware of mobile technologies like Near Field Communication (NFC) and Remote Deposit Capture (RDC), which have evolved in response to customers’ need for a mechanism to make quick in-store/ transit purchases and check deposits without visiting a branch or an Internet banking site?
http://www.infosys.com/finacle
Mobile banking has often been perceived
either as an extension of internet banking or
as an isolated channel, which can help banks
in minimizing costs and generating better
revenue streams. One of the major reasons
cited for the success of mobile banking is the
omnipresent nature of the channel, which sets
it apart from all the traditional ones. This
differentiator can drive revenues not only from
the mobile perspective but also in conjugation
with other channels. Today, banks need to
carefully study how the mobile can fit into the
overall multi-channel framework in order to truly
leverage the benefits associated with it.
This document discusses how social media is changing the banking industry and how banks can leverage social media. It provides perspectives from banking executives on how social media can drive innovation through service, product, and process innovation. Social media allows banks to improve customer service, generate leads, deepen customer relationships, and differentiate from competitors. Banks need to listen to customers on social media, engage in conversations, and join discussions in online communities to benefit. Executives share how their banks are learning from early social media experiences and adapting their strategies to be more active and responsive online. Web listening tools and private online communities are presented as ways for banks to gain insights from customers.
This document summarizes a webinar about how technology is inspiring bank branch design. The webinar featured presentations from executives at Royal Bank of Canada and Allen International discussing their experiences redesigning bank branches using new technologies. RBC redesigned their branches to be more open and focused on customer advice, using technologies like Microsoft Surface tables. Allen International discussed projects redesigning branches for other banks to enhance customer experience.
This Knowledge Paper makes an effort to elucidate the concept of remittances in the international context and is focused on the remittances sent by emigrants to their families back home, for domestic consumption and investment. The paper highlights the significance of International Remittances... to the global economy, details existing business models, and examines emerging trends as well as challenges faced by an industry which is to poised to play a bigger role in the globalization process.
Agility in the context of banking doesn’t mean just speed in execution; it also means that the bank is nimble and flexible. Agility helps the bank to win a marathon, as opposed to a hundred meter dash.
The banking system in the Philippines is made up of universal and commercial banks, thrift banks, and rural and cooperative banks. The country's economy grew steadily over the past 20 years but challenges remain around reducing poverty and achieving development goals. Recent elections saw Benigno Aquino III elected president. Emerging areas of focus for banks include microfinance, bancassurance, mobile banking, and wealth management as the population and economy modernize. Technology is an important enabler for reaching more customers, especially in rural areas.
Smartphones are transforming wealth management by enabling customers to access financial services anytime from any device. They allow customers to view portfolios, research investments, and communicate with advisors via email, video chat, and social media. Smartphones also allow advisors to access enterprise applications and view a unified view of customer accounts and interactions across all channels on their mobile devices. Looking forward, smartphones will continue expanding the scope of mobile wealth management through improved connectivity, applications, and integration of social media features.
Universal Banking Solution System Integration Consulting Business Process Outsourcing
A content management system (CMS) allows banks to centrally manage their website content like news, products, and services. It provides benefits like reduced costs, centralized content storage, and approval workflows. A CMS typically includes digital assets, documents, web content, and records. It manages the content lifecycle from creation to archival. Online banking uses CMS to deliver content in multiple languages and across channels securely. Key criteria for selecting a CMS include ease of use, access control, standards compliance, customization, and security. Popular CMS options include Alfresco, Liferay, and eXo. Investing in a CMS allows banks to provide fresh
Fueling AI with Great Data with Airbyte WebinarZilliz
This talk will focus on how to collect data from a variety of sources, leveraging this data for RAG and other GenAI use cases, and finally charting your course to productionalization.
Programming Foundation Models with DSPy - Meetup SlidesZilliz
Prompting language models is hard, while programming language models is easy. In this talk, I will discuss the state-of-the-art framework DSPy for programming foundation models with its powerful optimizers and runtime constraint system.
Connector Corner: Seamlessly power UiPath Apps, GenAI with prebuilt connectorsDianaGray10
Join us to learn how UiPath Apps can directly and easily interact with prebuilt connectors via Integration Service--including Salesforce, ServiceNow, Open GenAI, and more.
The best part is you can achieve this without building a custom workflow! Say goodbye to the hassle of using separate automations to call APIs. By seamlessly integrating within App Studio, you can now easily streamline your workflow, while gaining direct access to our Connector Catalog of popular applications.
We’ll discuss and demo the benefits of UiPath Apps and connectors including:
Creating a compelling user experience for any software, without the limitations of APIs.
Accelerating the app creation process, saving time and effort
Enjoying high-performance CRUD (create, read, update, delete) operations, for
seamless data management.
Speakers:
Russell Alfeche, Technology Leader, RPA at qBotic and UiPath MVP
Charlie Greenberg, host
In the realm of cybersecurity, offensive security practices act as a critical shield. By simulating real-world attacks in a controlled environment, these techniques expose vulnerabilities before malicious actors can exploit them. This proactive approach allows manufacturers to identify and fix weaknesses, significantly enhancing system security.
This presentation delves into the development of a system designed to mimic Galileo's Open Service signal using software-defined radio (SDR) technology. We'll begin with a foundational overview of both Global Navigation Satellite Systems (GNSS) and the intricacies of digital signal processing.
The presentation culminates in a live demonstration. We'll showcase the manipulation of Galileo's Open Service pilot signal, simulating an attack on various software and hardware systems. This practical demonstration serves to highlight the potential consequences of unaddressed vulnerabilities, emphasizing the importance of offensive security practices in safeguarding critical infrastructure.
Introduction of Cybersecurity with OSS at Code Europe 2024Hiroshi SHIBATA
I develop the Ruby programming language, RubyGems, and Bundler, which are package managers for Ruby. Today, I will introduce how to enhance the security of your application using open-source software (OSS) examples from Ruby and RubyGems.
The first topic is CVE (Common Vulnerabilities and Exposures). I have published CVEs many times. But what exactly is a CVE? I'll provide a basic understanding of CVEs and explain how to detect and handle vulnerabilities in OSS.
Next, let's discuss package managers. Package managers play a critical role in the OSS ecosystem. I'll explain how to manage library dependencies in your application.
I'll share insights into how the Ruby and RubyGems core team works to keep our ecosystem safe. By the end of this talk, you'll have a better understanding of how to safeguard your code.
HCL Notes and Domino License Cost Reduction in the World of DLAUpanagenda
Webinar Recording: https://www.panagenda.com/webinars/hcl-notes-and-domino-license-cost-reduction-in-the-world-of-dlau/
The introduction of DLAU and the CCB & CCX licensing model caused quite a stir in the HCL community. As a Notes and Domino customer, you may have faced challenges with unexpected user counts and license costs. You probably have questions on how this new licensing approach works and how to benefit from it. Most importantly, you likely have budget constraints and want to save money where possible. Don’t worry, we can help with all of this!
We’ll show you how to fix common misconfigurations that cause higher-than-expected user counts, and how to identify accounts which you can deactivate to save money. There are also frequent patterns that can cause unnecessary cost, like using a person document instead of a mail-in for shared mailboxes. We’ll provide examples and solutions for those as well. And naturally we’ll explain the new licensing model.
Join HCL Ambassador Marc Thomas in this webinar with a special guest appearance from Franz Walder. It will give you the tools and know-how to stay on top of what is going on with Domino licensing. You will be able lower your cost through an optimized configuration and keep it low going forward.
These topics will be covered
- Reducing license cost by finding and fixing misconfigurations and superfluous accounts
- How do CCB and CCX licenses really work?
- Understanding the DLAU tool and how to best utilize it
- Tips for common problem areas, like team mailboxes, functional/test users, etc
- Practical examples and best practices to implement right away
"Choosing proper type of scaling", Olena SyrotaFwdays
Imagine an IoT processing system that is already quite mature and production-ready and for which client coverage is growing and scaling and performance aspects are life and death questions. The system has Redis, MongoDB, and stream processing based on ksqldb. In this talk, firstly, we will analyze scaling approaches and then select the proper ones for our system.
Monitoring and Managing Anomaly Detection on OpenShift.pdfTosin Akinosho
Monitoring and Managing Anomaly Detection on OpenShift
Overview
Dive into the world of anomaly detection on edge devices with our comprehensive hands-on tutorial. This SlideShare presentation will guide you through the entire process, from data collection and model training to edge deployment and real-time monitoring. Perfect for those looking to implement robust anomaly detection systems on resource-constrained IoT/edge devices.
Key Topics Covered
1. Introduction to Anomaly Detection
- Understand the fundamentals of anomaly detection and its importance in identifying unusual behavior or failures in systems.
2. Understanding Edge (IoT)
- Learn about edge computing and IoT, and how they enable real-time data processing and decision-making at the source.
3. What is ArgoCD?
- Discover ArgoCD, a declarative, GitOps continuous delivery tool for Kubernetes, and its role in deploying applications on edge devices.
4. Deployment Using ArgoCD for Edge Devices
- Step-by-step guide on deploying anomaly detection models on edge devices using ArgoCD.
5. Introduction to Apache Kafka and S3
- Explore Apache Kafka for real-time data streaming and Amazon S3 for scalable storage solutions.
6. Viewing Kafka Messages in the Data Lake
- Learn how to view and analyze Kafka messages stored in a data lake for better insights.
7. What is Prometheus?
- Get to know Prometheus, an open-source monitoring and alerting toolkit, and its application in monitoring edge devices.
8. Monitoring Application Metrics with Prometheus
- Detailed instructions on setting up Prometheus to monitor the performance and health of your anomaly detection system.
9. What is Camel K?
- Introduction to Camel K, a lightweight integration framework built on Apache Camel, designed for Kubernetes.
10. Configuring Camel K Integrations for Data Pipelines
- Learn how to configure Camel K for seamless data pipeline integrations in your anomaly detection workflow.
11. What is a Jupyter Notebook?
- Overview of Jupyter Notebooks, an open-source web application for creating and sharing documents with live code, equations, visualizations, and narrative text.
12. Jupyter Notebooks with Code Examples
- Hands-on examples and code snippets in Jupyter Notebooks to help you implement and test anomaly detection models.
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Freshworks Rethinks NoSQL for Rapid Scaling & Cost-EfficiencyScyllaDB
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Finacle on Banking in India & Technology Evolution
1. Banking in India:
evolution in technology
Thought Paper
www.infosys.com/finacle
Universal Banking Solution | Systems Integration | Consulting | Business Process Outsourcing
2. Origins of banking
The origins of banking can be traced to ancient until late into 20th century. But the arrival
times, starting with rudimentary money lending of the Internet in the 1990s changed all that.
and bartering practices for agricultural and A plethora of possibilities emerged for
other commodities. But it gained great worldwide commerce, which naturally impacted
momentum only after the industrial revolution the functioning of banks as well. Even now,
which commenced in Europe in the 17th century, technology evolution shapes the nature
when Europeans started establishing colonies and extent of global economic activity and
around the world and the need for credit for continues to fundamentally alter the global
trade was felt like never before. banking landscape.
Ever since banks started operating, their essential
mode of operations remained much the same
The Indian banking scene
In India, banking as an institution originated in tech-savvy banks’ – were launched. A few
the late 18th century and primarily catered to foreign banks commenced their India operations
the needs of the British. Post-independence, as well. All these banks were quick to leverage
the nationalization of major private sector banks emerging technology, were competitive in
in 1969 – an important milestone in the Indian wooing customers and winning them over by
banking system – made banking accessible to providing professional services. This helped
the unbanked population in India. infuse a sense of urgency in public sector banks
and older private sector banks to mend their
The economic liberalization in the early 1990s
ways, which in turn completely revitalized
ushered in the era of privatization wherein
banking operations in India.
many new private banks – the ‘new generation
02 Thought Paper
3. Impact of the IT revolution
The opening up of the Indian economy in in this transformational journey, by
1991 almost corresponded with the worldwide issuing regulations and recommendations on
Internet revolution which doubly impacted banking mechanization and computerization.
the Indian private and public sector banks that Establishment of computerized inter-connectivity
were still stuck in old ways of functioning. across bank branches, introduction of MICR-
Once Indian IT services companies started based cheque clearing, modernization of
booming, it was just a matter of time before payment services and settlements through
Indian banks wholeheartedly embraced Electronic Clearing Services (ECS), Real Time Gross
technology. This paved the way for business Settlement System (RTGS), National Electronic
process automation in banking, which enhanced Funds Transfer (NEFT), were all significant
customer service, reduced manpower costs landmarks in the banking technology revolution.
and increased profitability. Apart from normal
Continuing advances in technology rise in
banking products, Indian banks started selling
middle class income levels, and increase in
third party products such as mutual funds and
demand from a consumer-oriented financial
insurance to their clients as well. This single
market, soon catapulted the Indian banking
window selling saved the customer’s time and
sector to a customer centric, technology driven,
enabled the bank to enrich the relationship.
financial supermarket catering to the varied
The Reserve Bank of India, India’s Central needs of its customers.
Bank, not to be left behind, played its part
Significant milestones
Over the years, there has been a noticeable banks could now offer quick service and
shift from traditional to channel-based transparency as well. They even started offering
banking. Introduction of ATMs (Automated Teller incentives to customers for using non-branch
Machines) provided customers with “any channels. All this reduced the number of walk-in
time” access to their money. The credit card by customers and improved the quality of customer
enabling cashless transactions, unleashed a service in branches.
revolution in the banking world. Affordable
The next noteworthy milestone was the
technology infrastructure like cheap, small
introduction of mobile banking primarily
but powerful computers and other handheld
through SMS. The launch of smartphones created
gadgets and higher Internet bandwidth at
a revolution of sorts in the banking world and
lower cost facilitated easy access to banking
smartphones are now a widely accepted delivery
products and effortless banking transactions.
channel in developed countries. As the number
Call centre and phone banking services further
of mobile phone users in India rapidly increases,
added to customer convenience.
banks are exploring the feasibility of using the
By directing banking transactions through ubiquitous device as an alternative channel for
different electronic channels and by providing delivery of full-fledged banking services.
customers direct access to their bank accounts,
Thought Paper 03
4. Current trends
Another concept, virtual banking or direct transactions and data, banks can improve
banking, is now gaining ground. This model productivity, optimize costs, provide quicker and
wherein banks offer products, services and better quality customer service. This will also
financial transactions only through electronic help with the environmental angle of using
delivery channels, generally without any physical less paper. From the customers’ point of view,
branch, has already been tested out in advanced paperless banking translates to easy handling,
countries such as the United States and Europe. storage and retrieval of financial documents
Owing to lower branch maintenance and and account statements without the fear of
manpower costs, such banks are able to offer misplacing them.
competitive pricing for their products and
With customers demanding ‘anytime and
services vis-à-vis traditional banks. More and
anywhere’ access to their money and financial
more customers are already moving to non-
information, banks have no option but to
branch banking, and the direct banking trend
implement wireless solutions in device-
will surely catch up in India as technology-savvy
independent and network-agnostic ways. On
banks adopt this model.
the user side, rapid progression of mobile
Though it may appear to save the bank a lot of technologies as evidenced by the well known
overheads, in reality, the customer never needing LTE (Long Term Evolution) means banks must
to visit a bank branch, either for completing increasingly adapt their own infrastructure to the
the account opening process or the subsequent client side needs.
financial activities actually throws up new On the flip side, unlike PCs, mobile phones are
challenges. The power of technology makes it small and are easily lost or stolen, making them
happen seamlessly and virtually, but customer more vulnerable to fraudulent transactions. This
satisfaction is something which calls for a calls for greater security measures combined
human touch. For all their technological with powerful regulation. There are also some
sophistication, virtual banking should be hassle privacy issues related to wireless banking that
free and a pleasurable experience for the user. need to be resolved.
The virtual banks need to be aware of this fact
in letter and spirit and always ensure that the Overall, there is no denying that there is
quality of user experience is paramount and both challenge and opportunity for banks in
leveraging technology is only an aid to enriching enriching customer experience arising from the
user experience. numerous use case scenarios of powerful smart
phones operating wirelessly. By ensuring the
As Banks adopt more technology, two things ease, comfort, safety, and seamlessness of such
stand out – using less paper and doing transactions operations, banks can assuredly remain in business.
wirelessly. In the last few years, many banks
According to data compiled by the RBI, there
in India have implemented content management
has been steady growth in the number of
solutions and succeeded in conducting
Fig-1
paperless transactions using the imaging and
workflow capabilities of such software. Also,
automated handling of service requests with
proper documentation and tracking facilities has
significantly reduced turnaround time.
Processing online applications for account
opening and other services, transfer of funds
without cheques, online account statements
are all becoming part of the regular banking
process. With digitization of all customer
04 Thought Paper
5. transactions routed through electronic channels fallen over the years and in terms of value,
(Fig. 1). Not only that, the share of paper-based now forms a miniscule part of total banking
transactions via cheques/demand drafts has transactions (Fig. 2).
Fig-2
Representation of Electronic Representation of Electronic
Transactions Volume in Total Transaction Value in Total
Electronic Paper Electronic Paper
100% 100%
90% 90%
80% 80%
70% 70%
60% 60%
50% 50%
40% 40%
30% 30%
20% 20%
10% 10%
0% 0%
2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12 2004-05 2005-06 2006-07 2007-08 2008-09 2009-10 2010-11 2011-12
(Upto (Upto
Nov-11) Nov-11)
Source: RBI
Product innovation and technology
The banking industry is going through a period reveal that in rural areas, more than half of
of rapid change to meet competition, challenges personal savings is being invested in land,
of technology, and the demands of the end houses, cattle, and gold. With low cost technology
users. Clearly technology is a key differentiator as the enabler, supported by innovative products
in the performance of banks. Studies reveal tailored for the rural populace, banks can offer
that approximately 20% of non-interest secure investments with good returns and in
expenditure of large banks in the United States addition, act as catalysts to alter rural investment
is on information technology. Banks need to patterns along more productive lines. Indian
look at innovation not just for products, but for banks need to focus on swift and continued
processes as well. Also, along with new product infusion of technology while ensuring its
offerings, they need to work towards existing appropriateness and utility for both the rural
product optimization. and urban market.
The needs of the rural market are quite different
and banks have to innovate accordingly. Studies
Thought Paper 05
6. Challenges
It doesn’t stretch one’s imagination to understand of different sections of people and is also backed
that the scale and complexity of banking has by suitable “humane” yet quick measures in the
undergone tremendous changes in the last 20 event of failure or breakdown.
years. From the Indian perspective, the evolving
banking paradigm presents unique opportunities The large number of complaints received by
and challenges. The reason is India is a country the Banking Ombudsman (Fig. 3), published
with huge population and the demographic in the RBI annual report for the financial years
growth of India is such that it is going to 2009-10 and 2010-11, are indicative of the
become the most populated country very problems of technology proliferation, making it
soon. Channel technologies can bring about a priority area for Indian banks.
closer integration between the rural and urban
Fig-3
populace. The hitch is that the pace of
technology adoption, a key feature of the
urbanized world, cannot be forced upon the
rural population. Here, India needs to learn its
lessons from China which has managed to rapidly
urbanize its rural population and been able to
harness technology to the fuller benefits of its
newly urbanized populations.
Another challenge non-branch channels throw
up is the lack of human touch that previously Source: RBI
characterized banking transactions. The rather
impersonal technology-enabled touch screen In 2010-11, 74% of the complaints were
key presses and automated answering systems from urban/metro regions, 89% were from
might intimidate and overwhelm newly retail (individual) customers and around 30%
urbanized users who are by and large technology- complaints were related to ATM/debit/credit
illiterate. It is therefore imperative for banks to card transactions and remittances. These do not
ensure that technology is tailored to the needs include complaints lodged at individual banks.
Way forward
There has to be a holistic approach to fulfill customer needs ever changing, banks need to
the demand for increased variety in deposit invest in advanced analytical tools for timely
and investment products (also conforming to introduction of new products, which will give
regulations) so as to grab a better market share them early mover advantage. The vendors who
of investments through banks. Development of supply various banking solutions play a vital
sophisticated products with low-cost technology role in leveraging innovation and designing
is key. This calls for an in-depth analysis of products, thereby enabling banks to achieve
customer needs, the market and competitor their goals.
trends. As the markets are very dynamic and
06 Thought Paper
7. Conclusion
Overall, the message for Indian banks is is the de facto agent that can ring in wholesome
very clear. India’s transformational journey changes. Banks would do well to realize their
to modernity is on the cusp of revolutionary central role in enabling this transformation and
change. There is the great rural-urban divide should take conscious recourse to relentless
waiting to be bridged; rural India has to adoption of technology. And the goal should be
connect with the mainstream economy. This has not just to satisfy but to engage with customers
to be a harmonious progression and technology and enrich their experience
Reference
1. www.rbi.org.in 3. www.banknetindia.com
2. www.infosecisland.com
Reghunathan Sukumara Pillai
Industry Principal, Finacle, Infosys
Santhy Sreedhar
Lead Consultant, Finacle, Infosys
Thought Paper 07