11th CII BANKing Tech Summit 2017
May 2017, Mumbai
EPS was honoured to be associated as Payment Partner in the 11th edition of CII BANKing Tech Summit which focused on new paradigms in the Banking & Financial Services industry: How new technologies, new governance and new processes are changing the whole eco system and bringing in ‘perfect competition’ in its true sense. While the traditional banks are trying to be more agile and more innovative, the newly formed banks and NBFCs are leveraging technology to achieve the competitive edge over traditional banks. While the new players are facing challenges in establishing a strong banking brand, they are using the power of technology for mass outreach and breaking the age-old boundaries. The other areas where the banks are required to put focus are high transaction costs in certain areas of business, addressing new policy and regulatory guidelines changes which in turn need quick changes in business operating models (agility in operating model) and a robust risk management framework. Key talking points would also cover the recent demonetization which has opened up the weak links in the operational risk management processes and how banks need to focus on those areas urgently. Emergence of digital channels and multiple modes of payments will put further stress on banks from risk management perspective.
Ms. Shikha Sharma, MD & CEO, Axis Bank, has given her kind consent to address the Inaugural Session of the Summit and with the presence of Mr Bhaskar Pramanik, Chairman, Microsoft India Pvt. Ltd. This national initiative is supported by PwC as a Technical Partner.
Mr. Harish Prabhu, participated in the first track panel, ‘Banking with Trust-The mix of Tradition with new Technology’ along with Mr. Madhivanan Balkrishnan(CTO-ICICI Bank), Pushkar Raj(Director & Head of Sales, Microsoft) and Asim Parashar(ED, PwC). This session was all about how large traditional banks with their robust systems and processes are facing the competition but also winning at the same time. The inherent banking knowledge and legacy of banking is helping them to bring in innovations within their operating models and transforming themselves for the new age customers. It is very interesting to understand, how these large banks are also helping the whole eco system to grow. But for them, the stand alone mobile wallet players wouldn’t have been successful though they pose a competition to the bank itself. More and more we are seeing ‘Collaboration’ rather than ‘competition’. May be the untapped market is so huge, it has potential for every single player irrespective of their size, operations and USPs to grow.