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Prasenjit Das

Senior Director

Virtusa

Member since

09 Feb 2015

Location

Hyderabad, India

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Prasenjit's opinions

Apple Pay turns '1' -The Myth of Fintech Disruption

Apple did pick up a big compartment within the financial services industry that can be potentially revolutionized by a tech innovation almost a year ago when it launched the Apple Pay. At the event Chief Executive Officer Tim Cook sounded quite collaborative when he described that the magnetic stripe card payment process as broken for its reliance...

05 October 2015 /payments

Fintech Insurgency - Disrupting IT Outsourcers Silently By Partnering The Banks

Accenture’s not talking about outsourcing so much these days, but can pitch a strong digital message, says CEO Pierre Nanterme which resonates across the Atlantic when Andy Murray, British tennis ace made headlines recently and this time it’s off the court by teaming up with Seedrs, an up-and-coming British crowdfunding platform through which smal...

22 August 2015 /startups

Confronting the digital disruption - A Banks’ Anti Dote

Francisco González, chairman and CEO of Spanish banking group BBVA states that 50% banks in the world could disappear by ignoring digital transformations and that BBVA will be a software company not a bank anymore by 2020, he points out the disastrously antiquated systems incl. IT systems, "spaghetti" systems totally unable to cope with ...

12 July 2015

Anti-Money Laundering From False Positives To Real Positive With Predictive Modelling And Big Data

The False Positives “If any financial crimes compliance people out there have just plugged in a monitoring system and think that they’re done you’re going to be flooded with alerts without any context,” warned Bank of America’s Bill Fox .This explains why most banks have conversion rates that are more like 5-7% .Banks need to go beyond their mon...

24 May 2015 /regulation

Social Media Banking as keystone of the Digital Transformation Arch

As we overcome the ‘hype cycle ‘ with mushrooming technology innovations , banks in their quest for a ‘Next generation Banking ‘ model with ‘social media’ will have a forward integration with the digital bank & the backward liaison with the ‘intelligent (based on analytics) multichannel’. The upstream taking care of the integrated multichann...

31 March 2015 /retail

Internal Models of Banks - Making them more 'Comparable and Credible'

It can be said with reasonable authority about the contemporary global banking system that investors in bank securities and counterparties to banks’ derivatives conduct their transactions on TRUST and not on trustworthy ratios that can help them assess banks’ true credit quality. As we draw parlance to Greece , since the Global Financial Crisis of...

07 March 2015 /regulation Banking Regulations

Mobile Banking - The' Biggest of Bank Branches' supplementing the hunger for technology for one segment and the need for a bank for the other

HSBC's oldest customer to download its banking app was 108 years old!!! FDIC says that “In terms of technological change, there is little evidence that the emergence of new electronic channels for delivering banking services has substantially diminished the need for traditional branch offices where banking relationships are built."It does sta...

21 February 2015 /retail

Social Media Banking - Balancing challenges and opportunities is the way forward

The figures below would indeed be very tempting to not only make a case for social media banking but to jump to the conclusion that social media is the future of banking .Take the case of Facebook with over a billion monthly active users, YouTube is close behind with 800m unique visits per month and Twitter has been growing fast but is still at th...

10 February 2015 /retail

Why delay in Volcker rule may not be unreasonable ?

The Federal Reserve delayed by two years compliance with the Volcker rule that bans them from betting with their own money through investments in risky hedge and private equity funds. However the delay did not affect the ban on proprietary trading, which Banks’ must stop by July 21, 2015. Acting under the provisions contained in section 619

10 February 2015 /regulation