Vaibhav: Technology teams are the most pivotal part in most of the NBFCs. How exactly has this role has evolved over last3-4 years, especially in analytics and customer services?
Himanshu: The role of data has been pivotal in today’s era. The role of customer analytics especially in NBFCs, you have 3-4 main axes where you see the change. First, you can use it for customer profiling and determine the level of risk. From there, you can have quite a few use cases, such as what kind of loan amount to offer the customer, what kind of services, etc. Starting with the least risky, the organization may want to take more exposure to that customer. You want his/her experience to be very good so that the customer stays with you.
The second is real-time fraud analytics. When the customer is making a transaction, you identify at real-time whether this transaction is genuine or not. A lot of companies are employ AI tools to detect such fraud.
Vishal: Every aspect of doing business has changed, including technology. We have identified how we can track the fraud cases, how we can analyze the information better. At the end of the day, what remains constant is customer service at the end of the day, providing the right, best experience to the customer. To give an example, initially, everybody started moving to cloud, to one single cloud environment. And then the technology evolved and we moved to multicloud environment, a hybrid environment, with some on the cloud, multi-cloud situation and some on-prem, just to ensure that the business keeps on running. At the end of the day, the fundamental principle is to be risk averse. Another example – initially, identity management was just login, username and password, but now things have changed, we have single sign-on ZTNA, etc.
Diese Geschichte stammt aus der September 2024-Ausgabe von Banking Frontiers.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent ? Anmelden
Diese Geschichte stammt aus der September 2024-Ausgabe von Banking Frontiers.
Starten Sie Ihre 7-tägige kostenlose Testversion von Magzter GOLD, um auf Tausende kuratierte Premium-Storys sowie über 8.000 Zeitschriften und Zeitungen zuzugreifen.
Bereits Abonnent? Anmelden
It's a bank and a brokerage - FinecoBank
FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:
A model for cloud adoption - Zurich Cantonal Bank
The bank is had opted for cloud to offer better service to its customers:
RBI Governor urges NBFCs to adhere to fair practices code
The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.
Automated, Adaptive, Al-enabled Architecture is a must
Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:
Fraudsters too gain ground as real-time payment systems grow
There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.
Fino sparkles with technology & brand upshift
Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.
Savington Upshifts: 48% Faster, Churn down 31%
Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.
Zoroastrian Bank: Multiple awards for being the Best
Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.