Sunita Handa, CGM, IT Channels & Ops, State Bank of India:
Earlier, our customers used to visit bank branches, where the cost of transaction is very high; even when customers visit bank ATMs, the cost of transaction is still high, though less than at branches. State Bank of India’s customers have taken their first step of moving towards digitization and we are seeing the advantages. It has made us think why these customers are not using the bank’s app? Why can’t we collaborate with fintechs or small startups in this? Can we do better than that? We can take digitization to its next level through collaboration or by buying fintechs and giving customers that experience which he is trying to get with the help of another entity. The new revolution of open banking or data sharing mechanism is also helping banks, and they must continuously think of innovative ways to give the customers the experience that they desire.
Open banking is when customers share data, an entity holds the customer data, customers gives consent and they hand over their data to another entity. When we give the same experience and product to the customers, then why should the customer go for another app or some other third-party lender? So, we must gear up for it.
The regulator must come into the picture and all the players should get benefits. Banks should become tech-savvy and providers of best digital solutions. The regulator and government must be aware of digital solutions. If these things work together, then it will create a perfect ecosystem for open banking.
هذه القصة مأخوذة من طبعة April 2020 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.
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هذه القصة مأخوذة من طبعة April 2020 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.
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