24 March 2018
Ramani Balakrishnan


Ramani Balakrishnan - TCS

5Posts 12,948Views 5Comments
Innovation in Financial Services

Innovation in Financial Services

A discussion of trends in innovation management within financial institutions, and the key processes, technology and cultural shifts driving innovation.

Should we go digital all the way?

04 February 2015  |  3077 views  |  1

For the last few years see every stakeholder in every industry is pushing for digital, digitization with their own agenda citing various benefits such as productivity improvement, reduced cost of operations , increased customer experience and so on.

Doing right things is one and doing things in rightway is another.  By having mobile front end to tell customer 'you are not eligible for loan' or 'your loan is stuck with us 40 days' is not going to make customers happy - The issue I see here is technology driving business and not the other way around.

How much of digitization has so far protected customer's interests, increased customer's wealth?

if the retail banks still think 'bank' and not 'retail' , any amount of digitization wont help them - the businesses need to be restructured, re-modelled in such a way that customer is not fitted into product but product is designed for customer.  customers nowadays prefer multiple products with multiple banks - you should not force them to get into one-stop shop.

TagsMobile & onlineRetail banking

Comments: (2)

Chris Yaldezian
Chris Yaldezian - IBM (Software Group) - San Ramon | 01 June, 2015, 18:56

I am not sure the author answered the question? What does it mean to go digital all the way? Maybe the title should have been, Being digital won't help if your bank's serve sucks! I think that, I could agree with that.

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Ramani Balakrishnan
Ramani Balakrishnan - TCS - Chennai | 02 June, 2015, 02:17

Yes Chris - thats the intention - teh obsession with digitizing without fixing underlying process will not yield anything

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Ramani's profile

job title Transformation Solutions
location Chennai
member since 2015
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25 years of experience in IT/Banking Solutions - Focus areas are Mortgages, Consumer Lending, Core Banking

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