"With increasing competition, emerging customer demands, regulatory interventions, technology-led disruptions and higher shareholder expectations, Indian banks are being forced to constantly review and revisit their operating models and constantly optimising the use of technology and other alternate channels as the change agent.
For instance, the number of mobile banking transactions doubled to 5.6 million in January this year, from 2.8 million in January 2012. The value of these transactions increased three-fold to Rs 625 crore during in Juanuary, from Rs 191 crore in January 2012. Banks have either centralised mid/back office processes through a shared services centre or have outsourced their technology requirements to a third party. Going forward also, banks are expected to continue with this focus, gaining thereby huge cost advantages, said the latest CII-KPMG banking report." Continue Reading