The race for seeking banking licenses is fast gaining momentum. New RBI governor Mr Raghuram Rajan reiterated that new bank licences will most likely be announced around January 2014. Applicant companies are in a rush to build capabilities are be ready before RBI rings the bell.
Technology will play a lead role in success of new banks and hence selecting the right and proven technology is of prime importance. These new green field banks are at an advantage as they don’t have the challenges the existing banks faced with managing legacy applications, old processes and data.
But at the same time they also face a major hurdle of selecting the right technology which can enable
- Competing with existing successful banks who have gone through the maturity curve and have a huge customer base
- Building a financially inclusive model of having 25% of bank branches in non-banked rural areas which directly implies that banks have to keep their operational costs low and operate with increased efficiency
- Scaling up of operations as banks starts to grow in size and geographies.
- Building centralize back office operations thus increasing efficiency and fostering process standardization.
- Adhering to compliance, audits from Regulators
- Building leaner banking branches and have Mobile sales force for wider customer reach.
- Enabling fast, efficient and prompt customer service & near customer service visibility
To address this concern Newgen Software Technologies Ltd. has brought together a unique convergence of three different shades of opinion from
- Top Consulting & Advisory firm KPMG,
- One of the fastest grown banks – Indusind Bank and
- World acclaimed BPM & ECM Product provider – Newgen Software
Please click to register for an Exclusive Webinar on Sept 11, 2013 titled ‘Scaling of Banking Services using BPM – A Best Practice Primer’.