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CII's 8th BANKing TECH Summit
HighLights
 

·     RBI is driven to push inclusion, protect consumer interest while enabling innovation

·    Integrated payment hubs, data analytics, cloud enablement, consolidation of fraud detection systems and advancement of the mobile wit focus on consumer: CII-PwC report

·  Navigating risky tradeoff between safety and consumer convenience need of the hour: Shikha Sharma, CEO Axis Bank  

·  CII-PwC report ‘Connecting the Dots: Wiring Business, Technology & Operations’ released

·     On a day that the Finance Minister of India, Mr P Chidambaram has called for a meeting of various national banks, the Confederation of Indian Industry’s (CII) 8th International Conference of the BANKing TECH Summit 2014 themed “Connecting the Dots: Wiring Business, Technology & Operations” got underway to discuss the opportunities and challenges the banking and financial services industry faces.

·        “Fifty percent Indians still don’t have a bank account. How do you allow this 50% to be part of the economy? You thus have a revolution of demand. How will you ensure that they can avail of banking services? How will you use technology to reach out to them and at the same time give a better and more user friendly experience - that is the biggest challenge and opportunity facing the Indian banking industry,” said Dr Deepali Pant Joshi, Executive Director, Reserve Bank of India (RBI).

Praising financial inclusion technologies like biometric micro ATMs, Dr. Joshi added, “In any banking system, security and interoperability governs most of our decisions and actions. Payments are the nerves and synapses of the nation because they allow transaction to flow through the economy and allow it to grow. For us at RBI the biggest regulatory challenge is how to ensure customer protection while encouraging innovation. At no time can safety be compromised. The integrity of your data is important to us. There is an urgent need to be ahead of the information curve and at the same time we have to move cautiously and calibrate our actions. There is a logic that governs our actions.”

·   Ms. Shikha Sharma, Managing Director and Chief Executive Officer, Axis Bank Ltd., presented the challenges from the banks perspective when she said, “Operational efficiency still remains the core of our work and takes up a lot of our focus and energy. Risk, regulatory compliance and customer experience are equally important. Then there’s data analysis. One can get lost in data or data can help you come up with insights that are extremely helpful. Then there is the risk to reputation. Over the years we know how to manage traditional media, but social media does not have editing and anyone can say anything. How do you react to it?

She went on to add, “Customers demand convenience. But that comes with risk factors. So how do you do a tradeoff between safety and convenience? That is a big challenge that all financial institutions are going through.”

·     Thomas Schickler, Global head of Liquiddity and Investments, Global Payments and Cash Management, The HSBC Ltd., Singapore sent out a warning when he said, “There are many challenges we face as bankers. We are at a crossroad and the way we operate needs to change. There is asymmetrical competition. If we do not work fast enough to comply with regulations and provide meaningful interaction with customers at the same time we many lose market share to others.”

And this, he said, had to be done while facing tremendous challenges and pressures. He added, “The pace of change required by regulators is very difficult to keep up to. If you see all the demands, the requirements on us is phenomenal. While we cope with that, we also face significant pressures on interest margins. Technology keeps advancing and customers are smarter and their ability to find our price difference puts immense pressure on us.”

·        A CII-PwC (PricewaterhouseCoopers) report titled ‘Connecting the Dots: Wiring Business, Technology & Operations was released at the summit. Talking about the report, Mr. David Edelheit, Partner – EMEA & UK, Financial Services Technology Leader, PricewaterhouseCoopers, UK said, “In 2015, the key trends we will see are: building integrated payment hubs, data analytics, cloud enablement, consolidation of fraud detection systems and finally the advancement of the mobile agenda focussing on the consumer.”

·      Mr. Arun Jain, Chairman – CII BANKing TECH Summit 2014 and Executive Chairman, Polaris Financial Technology Ltd., said, “The challenge is, how do you keep pace with technological changes without compromising on quality, safety and convenience. How then do you connect these dots? This is both a big challenge and opportunity.”

·    The daylong banking summit was well attended by the captains of the Indian banking and financial services industries apart from the technology providers.

 
Description

After the mega success of the earlier 7 editions of BANKing TECH Summit, CII is organised the 8th edition of BANKing TECH Summit on 5 March 2014 at Presidential Ballroom, Hotel Vivanta by Taj President, Cuffe Parade, Mumbai, India. This national initiative was supported by Bombay Stock Exchange Ltd. (BSE), Central Depository Services (India) Ltd. (CDSL), National Securities Depository Ltd. (NSDL) along with Procialize as the Networking Partner, PING Digital as the Digital TV Partner and PricewaterhouseCoopers (PwC) as the Knowledge Partner. 

 

BANKing TECH Summit 2014, while tracing the evolution of technology over time, lays emphasis on changing consumer preferences and increased consumerisation of technology. It aimed to understand how technology can break down barriers of reach, improve penetration in under-penetrated markets and help navigate through the continuously changing regulatory landscape.  

 

This year’s Summit covered a wide range of topics of interest to stakeholders in the industry like, Growing the Customer Base and Catering to Changing Consumer Preferences; Navigating through the Continuously Evolving Regulatory Landscape, Evolution of the Digital Channel in today’s Multi-Channel Environment, and leading industry players will also participate in an exclusive  Interactive Roundtable.

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Knowledge Resources
You will get access to following Knowledge Resources by subscribing to the Digital Library of this event.
 
50% Indians Without Bank Accounts Represents a Revolution of Demand: Dr Deepali Pant Joshi, RBI
Mr Chetan Tamboli, Chairman & MD, Steelcast Ltd at the Inaugural Plenary of the BANKing TECH Summit 2014
Mr Arun Jain, Executive Chairman, Polaris Financial Technology Ltd at the Inaugural Plenary of the BANKing TECH Summit 2014
Release of CII-PwC Report at the Inaugural Plenary of the BANKing TECH Summit 2014
Mr David Edelheit, Partner-EMEA & UK FS Technology Leader, PricewaterhouseCoopers, UK at the Inaugural Plenary of the BANKing TECH Summit 2014
Ms Shikha Sharma, MD & CEO, Axis Bank Ltd at the Inaugural Plenary of the BANKing TECH Summit 2014
Mr Thomas Schickler, Global Head of Liquidity and Investments, Global Payments and Cash Management, The HSBC Ltd at the Inaugural Plenary of the BANKing TECH Summit 2014
Dr Deepali Pant Joshi, Executive Director, RBI at the Inaugural Plenary of the BANKing TECH Summit 2014
Mr Arun Jain, Executive Chairman, Polaris Financial Technology Ltd at the Inaugural Plenary of the BANKing TECH Summit 2014
Mr Aniruddha Ghosh, Special Correspondent-Banking and Financial Services, ET Now on "Connecting the Dots: Wiring Business, Technology & Operations"
A panel discussion on “Connecting the Dots: Wiring Business, Technology & Operations"
An open house discussion on “Connecting the Dots: Wiring Business, Technology & Operations”
Mr Aniruddha Ghosh, Special Correspondent-Banking and Financial Services, ET Now on "Connecting the Dots: Wiring Business, Technology & Operations"
Mr Ashank Desai, Founder & Former Chairman, Mastek Ltd on “Growing the customer base and catering to changing consumer preferences”
Dr Satya Ramaswamy, VP & Global Head-Digital Enterprise, TCS on “Growing the customer base and catering to changing consumer preferences”
CxO-The Vighnaharta-Banking Data Protection Strategy & Compliance by Mr Tsion Gonen, Chief Strategy & Marketing Officer, SafeNet Inc
Using Big Data for customer analytics enabling customer micro-segmentation, secure customer relationship primacy by improving customer transparency and sharpen customer targeting by Mr Makrand Jadhav, Head Consultative Sales, Teradata India P Ltd.
The next wave: Innovation in the payment technology space by Mr Vivek Belgavi, Leader-Financial Services Technology, PricewaterhouseCoopers Pvt Ltd
An open house discussion on “Growing the customer base and catering to changing consumer preferences”
Mr Anil Kundan, CEO, India, State Bank of Mauritius Ltd on “Navigating through the continuously evolving regulatory landscape”
Implications of FATCA, AML in today's current scenario and the use of technology to drive solutions by Mr Abhijit Sen,CFO-India Subcontinent, Citibank N.A
Strategic Decision Making through Pattern & Trend Analysis by Mr S Rajan Seshan, Senior VP-Treasury and Risk Hub, Polaris Financial Technology Ltd
Complying with continuously changing regulations by Ms Nehal Mehta, Director-Industry Solutions, Banking, Capital Markets & Retail, Microsoft Corporation India Pvt Ltd
Mr Anil Kundan, CEO, India, State Bank of Mauritius Ltd on “Navigating through the continuously evolving regulatory landscape”
Mr Arun Jain, Executive Chairman, Polaris Financial Technology Ltd on “Evolution of the Digital Channel in Today's Multi-Channel Environment”
Mr Thomas Schickler, Global Head of Liquidity and Investments, Global Payments and Cash Management, The HSBC Ltd on Leveraging the Technology Platform to Facilitate Global Transactions and Global Liquidity Management
Using the Social Media Platform to Vantage Point to Discover New Opportunities by Mr Sanjay Mehta, Joint Chief Executive Officer, Social Wavelength
Mr Arun Jain, Executive Chairman, Polaris Financial Technology Ltd on Evolution of the Digital Channel in Today's Multi-Channel Environment
 
Charges to access Event
 
Participant TypeAmount (in Rs)
Member
2000
NonMember
3000