Risk Management & Basel II are the top priorities for banks in India- Mr. Anurag Khanna
(Extract from Welcome address by Mr Anurag Khanna, Managing Director & CEO, Banknet India at the Second CTO Summit at Taj Lands End, Mumbai on May 10, 2006)
Banknet India's First CTO Summit in 2005 was held in February 2005. Speakers and panelists at summit were of consensus that technology will be the key for banks in their effort to implement the Basel II norms.
They also agreed that data collection; networking and risk management will be the key areas where banks will need to implement technology, in their efforts to achieve standardization.
It was concluded that a centralized IT infrastructure, customized software solutions, personnel training and seamless integration of multi-channel strategies are the vital for management of credit, market and operational risks.
In year 2006, after a year, issues remain more or less the same, with changes only in the level of priorities, due to regulatory or business compulsions.
Banknet India, therefore, conducted an online survey in February 2006 to find out about the order of priorities for banks. 764 respondents to the survey listed Risk Management & Basel II as the top priority for banks followed by Core Banking Implementation.
ATMs, E-Banking &. Payment Systems came as a close third & fourth. Other priority areas highlighted by respondents were- Data Mining, Business Intelligence, CRM, Anti Money Laundering, Information Security and Business Continuity.
We have accordingly decided to cover these areas in this edition of CTO Summit.
Due to integration of business and IT within financial institutions, all aspects of an institution are reliant upon some form of technology and impact all. Therefore the theme of the second CTO Summit is ‘Transforming through Technology’
Session 1 is on Risk Management, Basel II, Business Continuity & Anti Money Laundering. Session 2 will focus on Data Mining, Business Intelligence & CRM
It is important to mention here that Banknet India and IIM Ahmedabad have decided to form a Think Tank, which will play a positive role to sophisticate the use of IT and the application of various intelligent systems in the Indian banking sector by conducting research, undertaking Project/ Case Studies, discussing the related issues with the industry at Banknet India Conferences and Forum Meets and Publishing research reports, books, etc.
Prof. Rajanish Dass, from IIM, Ahmedabad will talk in this session on Data Mining & Business Intelligence in Banking and Finance.
Session 3 is on Payment Systems & Multi Channel Strategies. 4th session will focus on managing implementation challenges in core banking solutions
As you are aware, Banknet India is focused on Banking Knowledge & Research and disseminates related information Online through our Banking & Technology Portal www.banknetindia.com , publications and conferences.
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