The Hindu Business Line : `Banks yet to build suitable technology infrastructure'

While banks have been talking extensively about technology-based approach towards financial inclusion, they are yet to build a suitable technology infrastructure. This seemed to be the observation of the panellists during a session on `Technology solutions and process management' at Bancon 2006.

While bankers conceded that technology was only an enabler and not a plug-and-play solution in banking, they appeared to concur with the view that there was a need to map business architecture to technology.

The Chairman and Managing Director of Syndicate Bank, Mr C.P. Swarnkar, said that there should be no second thought in adopting technology when banks go in for financial inclusion. However, it would be a low-value high-volume proposition.

But the solution would have to have necessary control systems built into it besides being cost-effective.

The mindset of HR needs to undergo a positive change in adopting technology.

Panellists emphasised on adopting various delivery channels such as ATMs, mobile banking, Internet banking, simputers and kiosks among others to attain inclusive growth.

Professor H. Krishna Murthy, Principal Research Scientist, IISc, talked about building systems that are fault-tolerant, robust, secure and scalable.

He also urged the banks to move from the current service level agreement to service level management model based on total technology deliverables and business deliverables.

The Chairman and Managing Director of Union Bank of India, Mr M.V. Nair, said that the bank had come out with a concept of rural village centre aimed at harnessing the knowledge of villagers.

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