Mehul Dani: For which products/services/ innovations has your bank won the IBA Banking Technology awards recently?
Raphael T.J.: South Indian Bank has won awards across all the main categories, including the Best Technology Bank of the Year, at the IBA Banking Technology Awards, 2020. The bank’s IT vision, technology priorities and focus areas, the initiatives undertaken, annual action plans and IT organizational framework were discussed by the awards committee.
The bank has been highly proactive in implementing frameworks to promote innovative ideas such as cloud adoption, green technology and leveraging the power of social media. Three of our projects under the innovation track were highlighted:
a. Robotic Process Automation (RPA): We have implemented RPA in our various departments and process, which has helped minimize mundane human efforts, improve our TAT and increase accuracy in processes.
b. DIYA (Do It Yourself using Aadhaar): The key objective of DIYA is to promote a green environment in the bank by increasing the eKYC verified accounts, thereby reducing paper usage. It covers various customer onboarding options like biometric eKYC at branch level and account opening tabs carried by our business correspondents. It also supports self onboarding through Aadhaar OTP.
c. Enterprise Service Bus (ESB) and API banking: We have exposed many of our business features in our ESB/API banking. This has helped to get new business opportunities and improve convenience and TAT for existing clients.
What are the other major technologies and applications that the bank has deployed?
This story is from the March 2020 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 2020 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Kamdhenu & Sammrudhi loans top rural customers
Unnayan Bharat Finance Corporation (UBFC) Director & Co-Founder Avneesh Trivedi shares the company's attempts to enhance the rural lending environment & deliver better services to its consumers:
It's going to be a 'world' of CBDCs
Practically, every central bank in the world is testing and readying a CBDC system:
Training for behavioral & social skills is key
3 CHROs from the top BFSI companies in India open up about their training and motivation programs aimed at enhancing employee effectiveness. The story is divided into 4 parts: (i) functional and behavioral training, (ii) manager to leadership training, (iii) learning-based training, (iv) motivational programs:
THE AI COMPASS
Artificial Intelligence has risen to be the hottest topic of discussion today. It is expected to impact everyone, and the impact could exceed that of war, global warming, supply chain disruptions, geopolitics, and much more.
To mentor & coach emerging leaders
Manish Shah, MD & CEO of Godrej Capital, outlines his focus areas today and in the future:
Innovation will unlock India's Mission 'Atmanirbhar’
Sunita Handa is Chairman, Toyota FSIN and Principal Advisor & TLAB Chairman, Protectt.ai Labs. She shares her current activities and her deep insights on innovaiton in an interaction with Manoj Agrawal:
Algorithm is the Boss
Irem Sayeed, Chief Credit Officer at U GRO Capital, dwells into business focus and modernization at the lender:
Fintech and Neobank under the same Umbrella
It was started in 1902 to build what came to be called Israel:
Bajaj Allianz Revolutionizes Employee's HR and IT Experience with WhatsApp, MS Teams, Al and Automation
A productivity booster shot at BALIC:
Small Beginning for a Big Opportunity
AMU Leasing's focus on serving the underserved market of individuals and fleets looking for financing for electric 3-wheelers and 2-wheelers:
