8 Results
Manish Jain industry principal at Infosys Ltd
Capital is expensive, compliance is exacting, competition is intense and customer dynamics have changed – that, in brief, is the 'New Normal' in banking. As the pressure on margins and profitability mounts, banks will have to review and streamline existing operating structures to increase efficiency and productivity. Most importantly, being custom...
16 July 2013
Cloud computing is more than just a technology; it's a model for disruptive business transformation. And like any business transformation endeavor, it has to be supported by some fundamental realignment in organization structures, processes and even culture. Take for instance the rather radical concept of distributed IT decision making in the clou...
08 July 2013
When you consider the furor about the monthly debit card fee in the U.S. or the Bank Transfer Day campaign, it is easy to understand why banks are wary of social media. However, they cannot afford to stay away much longer. Social networks happen to be the favorite hangout of online users… and there are a billion of the latter, and growing. Banks si...
11 January 2013
Though it might seem like it, FATCA is not just another regulation or compliance requirement form the US. Rather, it covers the entire banking value chain of US clients with offshore accounts and requires completely new and extended information and reporting systems, thereby impacting the banking industry globally. I won’t go into the basics of FA...
24 July 2012
Central Bank guidelines mandate banks in most countries to run their new customers through Know Your Customer (KYC) checks. However, this has its limitations as the checking is restricted to address, photo identification, income verification, credit history and risk classification. Banks need to look beyond mere KYC compliance and strengthen thei...
01 May 2012 /regulation /retail Financial Risk Management
It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you’ll do things differently. - Warren Buffett Since the financial crisis, consumer trust surveys have invariably rated banks near the bottom. For service organizations like banks, reputation is the basic foundation of business. This intangible asset mani...
03 April 2012 /regulation /retail
Bank Account Number Portability The leading cause of this attrition is poor service. The same survey also says that nearly 60% of customers hold multiple banking relationships. Clearly, total loyalty is a rare commodity today. With the market being flooded with similar products, the choice of whom to bank with boils down to service, quality of ex...
22 November 2011 Financial Services Regulation
Implementation Challenges Although XBRL has several benefits, there are significant challenges in its global implementation, some of which are listed below: • Definition of taxonomy: The definition of a globally identifiable taxonomy is made difficult by the differences in financial reporting worldwide. To enhance the scope of XBRL, taxonomy must ...
27 September 2011
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