V.R. Sridharan, CTO, Equitas Small Finance Bank, discusses the technology initiatives in the bank and how it got transformed into a digital organization in a small period of time:
Equitas Small Finance Bank completed an envious task of transitioning from an NBFC into a bank in a short span of 10 months and launch its operations in September 2016 as one of the first small finance banks in the country, thanks to its vision to create a best in breed technology landscape. The bank’s CTO, who was responsible for the creation of the technology infrastructure, V.R. Sridharan, says the goal was to set up a system, which leverages an open architecture enabling easy integration with other application platforms. “Equally important for us was to ensure information security and compliance to the regulatory environment. We wanted a technology setup, which would not only be comparable to the best banks, but also give us the competitive edge in our chosen customer segments,” says he.
This vision was pivotal in driving the information technology induction plans of the bank, says Sridharan, and adds this was accomplished in just about 10 months. “We have set up around 375 new bank branches in a record time of around 12 months as part of this journey. We have also made a significant capital investment in technology as part of this transition,” he adds.
CUSTOMER CENTRICITY IS CORE
Sridharan maintains that customer centricity and employee empowerment formed the core drivers of the IT team’s endeavor to create a state of the art technology setup. Scalability to meet the business growth, need to deliver change quickly to meet business demand and being future proof were the other key considerations in this technology journey and one of the significant features was setting up of an Enterprise Integration Layer as part of this transformation program, which enabled the core system to integrate easily with other external applications.
هذه القصة مأخوذة من طبعة October 2018 من Banking Frontiers.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك ? تسجيل الدخول
هذه القصة مأخوذة من طبعة October 2018 من Banking Frontiers.
ابدأ النسخة التجريبية المجانية من Magzter GOLD لمدة 7 أيام للوصول إلى آلاف القصص المتميزة المنسقة وأكثر من 9,000 مجلة وصحيفة.
بالفعل مشترك? تسجيل الدخول
Finance gears up for festivities
BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:
Non-cash transactions can touch a phenomenal level by 2028
Capgemini Research Institute’s World Payments Report 2025 highlights the era of account-to-account an instant payments:
The Confluence of Artificial Intelligence and Cybersecurity: AI as the Game Changer
In an increasingly interconnected world, safeguarding our digital assets has become paramount. Enter the dynamic duo: Cyber security and Artificial Intelligence (AI).
A new trinity in digital lending space
Three platforms in the lending space are poised to change the way lenders offer credit and borrowers access funds in India:
Finance gears up for festivities
BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:
Small MFI, International Engagements
Mitrata Inclusive Financial Services in the midst of transformation growth
MFIs: Big Impact Big Changes,
Even as MFIs are fueling economic growth for the underprivileged, what is interesting is that they are transforming themselves in areas like HR, technology, funding, leadership, collections, and more. Banking Frontiers presents the initiatives and initiatives at 9 such organizations:
Climate Risk Forum for CROS
Excerpts from a discussion on shaping the future of climate change resilience in India:
Seamless Supply Chain Finance
Deep insights emerge from this fireside chat at NBFC's Tomorrow Conclave.
Star Health sees strong demand from the IT sector
Biju Menon, Chief Business Officer at Star Health Insurance, looks at the evolution of employee health insurance from multiple perspectives: