Moderated by Manoj Agrawal, Group Editor, Banking Frontiers, the eminent panel comprised Rishikant Dubey, CRO, Muthoot Microfin, Kunal Kathpal, Chief Risk Officer (CRO), Hinduja Leyland Finance, Prabhakar Tiwari, Chief Growth Officer, Angel One, Rajesh Krishnia, Head of Enterprise, BFSI, Nutanix India
Cloud technology is one of the most powerful emerging technology and solution. As an approach for many businesses in the financial sector, NBFCs have been trying to make meaningful use of the cloud and derive maximum value for the business.
Earlier the BFSI sector was a bit reluctant to adopt cloud systems due to concerns of data breach and security system lapses. There wasn’t much clarity on how they function and how to integrate them into different legacy systems. But the cloud system is now a reality, as there have been many security-side and analytic-side modifications and have been whole-heartedly integrated into many legacy systems.
Banks and financial institutions have adopted cloud services because of seamless computing and fast services. Digital transformation through cloud is happening by way of payment systems, internet banking, etc, which has led to high customer satisfaction.
Prabhakar Tiwari says: “I agree, that’s a big revolutionary change. And it has impacted both start-ups and large organizations.” Today the idea is to use cloud for business transformation; the agenda has changed from pure IT to investment and profitability. “Data architecture and data analytics have become the backbone of any organization. All this data helps us to personalize customer journeys and take advantage of that. I’m very enthused by the algorithm compute ability of cloud and we leverage big data a lot at Angel One.”
This story is from the September 2021 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 September 2021 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: