Technology in Banking and Finance

I have been thinking quite a bit lately on what innovation could mean to the mass market at the bottom of the pyramid. A lot has been written about the bottom of the pyramid in recent years, that the next level of growth will come from this market. I think this is evident from the emergence of Indian economy. Take for example my self; I come from that strata of society that had seen so much less banking facilities, all by virtue of the economic levels I came from. Today after ten years I am in a good job and now there is a whole set of banks chasing business from me because I have shifted my economic orbit. I think there is a whole generation of Indians today who are very frequently shifting their economic orbits because of the sustainable growth in the economy. And this, is further fueling the growth that has already set in. But, if you think from the bank's perspective, has this change come because of any innovation from bank’s side to reach to those different levels in the socie...

Introduction The evolution path the Banking industry has witnessed in the last few years with Consolidations, Expansions, Electronic Banking in Retail, Developments in Risk management, the evolution of the Euro single currency and subsequently the innovations in payments has made the European banking scene more active than ever. At different points in time the Banks have faced challenges in achieving the above, powered by organizational growth aspirations in serving the customer base and driven by regulatory changes affecting the banking industry. The most recent regulatory changes are the efforts of creating a level playing field in payment instruments in Europe by creating a faster, transparent, standard and cost effective payment infrastructure. OFT (Office of fair trading) in UK and SEPA in European union. This change in direction offers immense challenges for Banks in terms of scaling its IT capabilities and increased competition in the market... read on

Publications : finextra ,  bankingcrossing, financial Introduction Banks have started realizing the importance of pricing as a banking enterprise entity. Core banking solution such as Flexcube, Temenos or Finacle fits well as a technology solution for a banks’ day to day business. However a core banking solution itself cannot cater to all the needs for fee based income of a bank. This is attributable to the complex nature of banks operations across its business areas. The banks are often unintentionally grown into a complex structure with its independent departments often referred to as silos having their own systems tied together to a centralized core banking system. Each of these silos has its own product bundles and offerings and a technology component to capture the fee income for the bank. So what comes out over a period of time is a severe disability to visualize the fee income or pricing of such charges at the level of an enterprise. In this article we will discuss, how core ba...