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Technological Challenges in Banking Operations

In the evolving landscape of banking, technology serves as both an enabler and a challenge. This overview discusses key focus areas such as customer-centric management, operational risks, compliance, and asset quality amidst a volatile business environment. It emphasizes the necessity for banks to adapt to rapid technological changes, ensure efficient resource management, and implement robust training programs. By leveraging technology effectively, banks can enhance service delivery, achieve competitive advantages, and sustain growth in an increasingly informed customer market. Change will be constant, driven by business needs and facilitated by technology.

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Technological Challenges in Banking Operations

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  1. Technological Challenges in Banking Operations R.N. Ramanathan Dy. MD (IT) State Bank of India

  2. Contents Conclusion Technology As Business Enabler Key Focus Areas The Changing Face of Business Operations Technological Challenges

  3. The Changing Face of Business Operations 1/3 Customers – Key catalysts of change Volatile Business Environment Deregulated Market Environment Business Operations Spiralling Competition – WTO/FTAs

  4. The Changing Face of Business Operations 2/3 Management of Asset Quality Greater Financial Risks Globalization of Operations Business Operations Consolidation of Operations

  5. The Changing Face of Business Operations 3/3 Regulatory Compliance Corporate Governance Stretched Resources Business Operations Operational & Reputational Risks

  6. Technology as Enabler 1/2 Change Management Quicker ‘Go-To-Market’ Technology Enables Richer Customer Experience Key to Competitiveness

  7. Technology as Enabler 2/2 Enterprise wide Customer View Pace with Developments Technology Enables Preventive, Risk-based Architecture Empowerment to Manage

  8. Technological Challenges 1/2 Capital Budgeting & Outlay Integration of Technology & Business In-sourcing vs Outsourcing Dilemma Business Process Changes Management of Human Resource Managing Compliance Environment Information Security and Frauds

  9. Technological Challenges 2/2 Risks – Product, Vendor, Implementation Project and Cost Overruns Infrastructure Management Disasters & Business Continuity Return on Tech Investment Measuring Tangible Benefits Managing Obsolescence

  10. Key Focus Areas 1/5 Efficient Front Office Robust Back Office Customer Centric Management Relationship Management Universalization of Services An Eye on Competition

  11. Key Focus Areas 2/5 Plan for Upgradations Plan for Obsolescence Investment Planning Calculate ROI Adopt Industry Standards* Keep a Long-Term View * Like BS 7799, CMM, ITIL, COBIT

  12. Key Focus Areas 3/5 Training / Re-Training Cultural Integration Manpower Planning Adaptability to Changes Flat Management Style Motivation & Rewards

  13. Key Focus Areas 4/5 Vendor Agnostic Applications Align with Business Focus Technology Management Strategize and Monitor Risks Empower & Delegate Lead From Front

  14. Key Focus Areas 5/5 Documented & Process Driven Defined & Measurable SLA Monitoring Tools For Management Avoid Complacency Conduct ‘Reality Checks’

  15. Conclusion Customers will become increasingly ‘informed’ Service deliveries will be a challenge Business cannot be divorced from technology Opportunities and risks will co-exist Technology will have to be managed – not just acquired Best processes and practices will win the day Technology – Not a ‘by choice’ issue any more

  16. Conclusion The only constant will be CHANGE directed by business & empowered by technology

  17. Thank You dmd.it@sbi.co.in

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