Page 33 - Banking Finance November 2017

COVER STORY

TAKING TECHNOLOGY

TO THE NEXT LEVEL

FOR ENHANCED

CUSTOMER

EXPERIENCE

Information technology and business are channels and introduction of new products and services. This
becoming inextricably interwoven. I don't think has led to increased customer awareness, better banking
outreach, enhanced customer experience and improved
anybody can talk meaningfully about one
financial inclusion in the country. With modern banking being
without talking about the other. all about delivering secure and seamless customer
Bill Gates experience, increasingly over technology platform is critical
for success of a Bank.
Introduction
Technology has aided the banking sector in expanding its
Last decade has seen the Indian Banking Sector experiencing outreach as well as efficiency. Banks have found the
a phenomenal growth in terms of business volume, number enormous benefits of embracing technology in making their
of customers, adoption of new technologies & alternate services more and more customer centric. Technology has
made service delivery easy and convenient. Technology is a
About the author great enabler and is powering inclusive growth, using mobile
to deliver financial literacy and access to small value
Deenanath Jha financial transactions for those at the bottom of the
Chief Manager (Research) at SBIICM Hyderabad. He pyramid. It also plays a key role in financial inclusion apart
has over four years of experience in IT Research in SBI from serving tech savvy customers. Indian customers are
and over 18 years of experience in Banking. He also getting more and more tech savvy. Banks are adopting new
won second prize in IIBF's Micro Research competition technology with customer as main focus. It is also being said
(2014-15).
that the Banks are now new technology companies.

BANKING FINANCE | NOVEMBER | 2017 | 33

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