InfrasoftTech CEO Rajesh Mirjankar discussed how digitization is transforming customer emotions and banking innovations at an open forum. He explained that InfrasoftTech views information technology as an engine for transformation. Mirjankar also advocated for prioritizing mobility, analytics, and cloud (MACS) technologies to drive cost-effective product design and data-driven marketing. InfrasoftTech's strategy focuses on providing digital banking solutions to complement their clients' existing branch networks and multi-channel services. This allows customers to have a seamless experience accessing financial services across different platforms.

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InfrasoftTech – Leveraging Digitization for an Integrated Service Delivery
At an open forum Digitization: Gearing up for a Integrated World, InfrasoftTech
CEO Rajesh Mirjankar expanded on how IT is not just an enabler, but a differentiator
in the competitive BFSI sector. He views Information Technology as a
transformation engine, and how important it is to actively enable the pace of
technology in India.
Innovation
Citing an incident at his son’s birthday party, he said that even today, ten year olds
were saying LOL, instead of just Laughing Out Loud! At this rate, Digitization will soon
be bringing about a telling transformation of emotions! Just as product
innovations typified the golden era of talent in the banking sector, today’s age would
be known for IT innovations.
MACS
As far as adapting SMAC technology, he would rather put it in the order of technology –
MACS:
Mobility in payments - where you have an outreach, adoption of USSD is prime,
because it addresses 80% of the TA, 20 % would be the smart phone users.
Thus the core element of product design is the cost of the product. Mobility and
electronic payments will bring the cost of the product drastically down. this is where
innovation is required.
The next phase is the Analytics part. The important part of analytics is that it enables
productive marketing. It is not just about dicing and slicing data. For instance, it is
very sensible to market a tax savings product in March. Thus analytics extends to
pricing of the product as well. The differentiating factor is not the mobile device or how
the channels are rented out, it is only the hygiene factor. It is the pricing that is
paramount.
Thirdly, the 5th ????, Cloud, as the C’’ within the SMAC , ...The rest of this segment
not available.

2. Securing the networks is a crucial factor. In fact, today hacking is not possible; there
is hardly any risk of fraud, what with the right kind of security measures, which are all
laid down by authorities like NBCI.
Pass(word???) usage is still a concern, when used on devices that are not your own.
This is where we need to migrate to technologies that will enable use of a mobile that is
is in your hands and control.(I imagined his scenario and situation, by extrapolating
from the above)
As an aside, a common concern with the adoption of technology, is that there is a risk
of a product provider - like an AMC, a bank or an insurance provider - losing brand
presence because a customer becomes detached. As a service provider, we ensure that
frontier-line technology creates for our clients, a unique, customized service
delivery to their customers at every touch point.
Strategy for Growth
Infrasoft’s strategy for growth stems from the understanding that there are three levels
of connectedness of a BFSI with the customer:
 Branch based model
 Branch plus multichannel model
 Digital model
The second model is what we focus on. It is key for growth, since our clients have a
strong network of branches – that offer core banking solutions, sturdy products like an
AML solution, and lastly a complete digital banking suite. This can best be explained
with this example of the kind of solution we would ideally like to provide -
On his way to work, a customer starts to fill out a form on mobile for a loan application;
he then reaches office, completes it on his desktop, and gets a mobile message saying
a representative would meet him at home over the weekend to complete the
formalities.
Looking Ahead
When India becomes a super economy, which it will soon, there would have been two
superior contributors to this achievement, the RBI and the NBCI.
NBCI is looking at mass scale electronic payments being organized. When you look back
at the innovations of the company in 2007, that paved the way to cover 1 billion
customers in 2015, this is obviously an historic event...getting cards across to a billion

3. people! Inspired by this, we as technology providers, have ramped up our contributions
to scale up to NBCI's requirements.
The scope for growth and sweeping change lies beyond vanilla products. We need to
look at how we leverage niche products that are customized for smart phones. The
interest, and the market is here. An interesting instance is the recent launch of the in-
flight payment by NBCI.
InfrasoftTech is committed to be at the frontierline of change, leveraging emerging
technology to help build synapses of service deliveries to customers at every
conceivable touchpoint. (is this statement ok?)
Pls note:
1. The 4 videos were provided in no particular order or sequence, so I have pieced
the sound bytes together by mixing and matching the spoken pieces to make
sense of of the jigsaw puzzle.
2. In future, kindly provide transcripts that are vetted by the company before we
attempt to distil their essence into a blog, not videos.