| Perspectives of: CTOs of Banks in India
Roadmap of banks to strengthen the existing financial infrastructure...
Roadmap of banks according to Mr V Chandrasekhar, General Manager & Chief Technology Officer, Bank of Baroda should comprise of-
a. Introduction of Core Banking system within the next 12 to 24 months.
b. As an interim solution, networking of branches in the identified commercially important centres immediately and start funds transfer products.
c. Immediate Establishment of RA office for issue of Digital certificates for use in these funds transfer products.
d. Establishment of an Integrated Treasury branch or in the interim proper reporting arrangements from major centres for effective management and maintenance of intra-day liquidity.
e. Development of an interface with the RBI applications and the Core banking systems to enable STP.
According to Mrs S A Panse, Deputy General Manager (Information Technology), Bank of Maharastra, it is necessary that each public sector bank take following steps-
Establish a WAN connecting all the major branches.
Introduce all the delivery channels in addition to the branch network.
Move towards Core Banking Solution.
Introduce data warehousing and data mining.
Introduce Customer relationship Management.
Move towards Integrated treasury management.
Go in for Business Process Re-engineering.
Have an aggressive HRD policy for retraining in IT skills.
Take up restructuring/ reorganization for the entire bank.
Mr Ravikiran Mankikar, Chief of Information Technology, Shamrao Vithal Co-Operative Bank feels that the Banks are today aware for the need to be part of a networked system. The emerging role of technological employment by the Private Sector Banks and the leading Public Sector Banks is also motivating the Banks in the Co-Operative Sector to put their act together. The implementation of ATMs on a massive scale by some of the Banks is also spurring the other Banks to have an ATM installed base of their own.
According to Mr Neeraj B Bhai, Chief Technology Officer, IDBI Bank, Roadmap has already been defined by RBI in great detail. What is needed is its efficient execution. To be able to launch one's own products, the Banks will have to enhance this roadmap to include integration with their existing applications so that end-to-end straight-through-processing becomes possible. Here the fully computerised banks will have the edge. There is no reason why such products can not be made available on self-service channels like Internet, mobiles and ATMs.