Banknet's CTO-CXO Summit attracts top professionals from 68 organizations

More than 150 participants from 68 organizations participated in Banknet's Fifth Annual CTO-CXO Summit on June 5, 2009 in Mumbai. The Summit was addressed by 23 C-Level Speakers from ICICI Bank, HDFC Bank, State Bank of India, Bank of India, Kotak Mahindra Bank, IndusInd Bank, Development Credit Bank, Union Bank of India, Shamrao Vithal Co-Op Bank, Barclays Bank, IBM, SafeNet, Verisign, Ramco Systems, Portwise, Reliance Communications, 3i Infotech and SG Technologies & Banknet Group.

In the welcome address, Banknet Group CMD, Anurag Khanna pointed out that, "Technology is now more important for banks than ever as it can enable growth, manage risk and align with customers." Accordingly the theme of the CTO-CXO summit 2009 is ‘Aligning IT to Effectively Manage Current Crisis’, he added.

In the round table session Pravir Vohra, Group CTO, ICICI Bank, said that, in the last 12 months there has been careful usage of technology within the bank and ROI's are watched wearily. Inspite of commerce happening, infrastructure growing, there is a slowdown in growth for sure. “But this environment has been a learning experience for all of us,". Anil Jaggia, CIO, HDFC Bank stated, "We have every kind of technology that a bank would need today. Our challenge is to take technology to the next level. The key is now to position ourselves 10-15 years ahead in terms of technology deployment.”

Patrick Kishore, GM & CISO, State Bank of India, Chairperson for the Session on Risk Management & Compliance, emphasized on the need to improve risk management in the banks today. The depth and duration of the credit crisis has forced banks to take a critical look at how they manage risk.

Chairing the Mobile Banking & Payments Session, VP & Chief Operations & Technology Officer, DCB, Parag Patankar, said, "In the last 2 years we have seen emergence of a different kind of model where banks are able to offer transactions using GPRS interface and that kick starts the revolution. But the process here needs to be kept simple as it is a new channel and customer might be skeptical about its security level.”

Chairperson of Session on Cyber Security & Frauds, Nandkumar Saravade, GM, Financial Crime Prevention, ICICI Bank mentioned that Data security is a major issue today and the core of this is how the servers are secured and how the database is guarded. If there is a loss of trust in the financial institutions, it percolates to other sectors as well.

The Summit concluded with a session on Business Intelligence, CRM & Data Mining where P.A. Kalyana Sundar, GM, IT, Bank of India, session Chairperson, stated that, most of the public sector banks in India after the technical migration have shifted to core banking system. For these banks the challenge is that the entire customer’s data which has moved to the central environment, is ready for analytical processing.

Banknet will continue the dialogue between experts of financial services and technology sector at forthcoming Fifth International Bank Tech Summit to be organized on September 24, 2009 in Mumbai... Read More




Major focus on Risk Management & Compliance at CTO-CXO Summit.. Click here

CTO-CXO Summit to focus on Cyber Security and Financial Frauds.. Click Here

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