30 Per Cent of Business Will Migrate To New Technologies, says Vodafone India CEO

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More than 30 per cent of the business in the banking sector will migrate to new technologies in the coming years, said Sunil Sood, CEO and MD of Vodafone India, on the second day of Outlook Money Conclave 2018.

In a chat with Outlook Money editor Malini Bhupta, Sood said “Open Banking, IndiaStack, Cloud First Strategy and technologies like artificial intelligence, big data and blockchain technology are going to be major disruptors in the BFSI sector. This will completely change the speed and accuracy of the response.”

Holding forth on the topic of ‘Disruption in the Banking, Financial Services and Insurance (BFSI) Sector’ and how digital technology will impact the way business will be done, Sood said rapid proliferation of data will lead to sharp shifts in consumer behaviour and have implications for companies too.