"Brandon McGee, Industry Insider, Mobile Banking Guru...He is not only the real deal, a genuine industry insider, but also knows exactly what's on the minds of financial service pros as they contemplate the various mobile options." - Jim Bruene, Publisher & Founder, Online Financial Innovations

"Going Mobile. Local executive carves niche as national expert on fast-growing banking-industry technology trend" - Scott Olson, Indianapolis Business Journal (IBJ)

"Brandon McGee, the industry's unofficial ambassador for mobile banking" 

Monday, September 23, 2013

Banks outsource IT to improve operating efficiency, reduce cost

"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

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