As we graduate to a world shaped by physical distancing, banks and financial institutions are adapting and innovating too. For firms looking to recover in the short-term and accelerate their growth trajectory in the longer term, technology-fuelled experiences can help them compete, ramping up services and profitability while reshaping customer experiences. In this scenario, banks must focus on internal IT operations and systems to ensure operational integrity.
This is where the power of the cloud will come in. Core legacy systems can pose challenges to Indian banks due to lack of flexibility, agility and ease of integrating with external systems. Coupled with the plethora of changes in the UPI space, banks are constantly looking at new partnerships with emerging fintechs. In doing this, banks today incur heavy operational overheads to continue to run and maintain legacy systems. Future-proofing of core systems is definitely the need of the hour.
In 2021, cloud will command vital infrastructure for India’s banking and payments sector, enabling agility, improved remote collaboration and faster application development and deployment.
Outlined below are the 3 big cloud trends that ACI Worldwide sees having the biggest impact on India’s BFSI sector in 2021:
REVALUATION OF OPERATIONAL CONTROL PROCESSES
Denne historien er fra February 2021-utgaven av Banking Frontiers.
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Denne historien er fra February 2021-utgaven av Banking Frontiers.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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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:
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Finance gears up for festivities
BFSI companies are charging their online and omnichannel strategies with personalized festive deals this season:
Small MFI, International Engagements
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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:
