Karnataka Bank was among the first to deploy a Core Banking System in the year 2000. To ensure that its customers have the best, the bank has deployed the state-of-art technology from the best players in the industry like Infosys, Sun and Wipro. Mahabaleshwara M.S., MD & CEO at Karnataka Bank, provides insightful updates on the digital initiatives and IT transformation.
After successful completion of his first term of 3 years, RBI re-appointed Mahabaleshwara M.S. as MD & CEO for a further period of 3 years with effect from 15 April 2020. He has over 37 years of banking experience both at operational and administrative levels. He has done his M.Sc. with specialization in agronomy. He is also a CAIIB and Honorary Fellow Indian Institute of Banking and Finance (IIBF) and holds Post Graduate Diploma in Business Management (PGDBM).
Mehul Dani: What are the changes made in the digital strategy for Karnataka Bank's customers in this FY? How has your bank benefited?
Mahabaleshwara M.S.: Under wave 2.0 of 'KBL VIKAAS', a holistic transformation journey has taken place and put digital banking on fast forward mode. 'KBL NXT' concept was launched in the year 2021, with an objective to eventually emerge as the 'Digital Bank of Future'. As part of KBL NxT journey, the bank has implemented latest technologies for enabling digitization under various verticals viz. customer experience, operations, human resources, technology, cyber security, digital marketing, partnerships, etc. Cost optimization, better analytics, risk mitigation, reach, ease & experience are the key KPIs envisaged out of the product journey re-imagination, and the underlying infrastructure of digitization was aimed at enhancing the speed to market our future products and to position ourselves as 'Digital Bank of Future.
This story is from the February 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the February 2023 edition of Banking Frontiers.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
Key Russian central bank official leaves
The First Deputy Governor of Bank of Russia Olga Skorobogatova is leaving the central bank in early December.
Better prospects for Swiss banking in 2024, says new study
The year could see revitalization of the banking to some extent, finds the study by Swiss Bankers Association:
Ease of use, personalization & consistent engagement promotes digital loyalty
Murari Lal, Head - Digital Initiatives, Shivalik Small Finance Bank, delves into platforms, loyalty and Al:
From Feet on Street to Fingers on Screen
Nippon India Mutual Fund is driving into newer customer segments by leveraging voice and vernacular as the drivers, reveals the company's Chief Digital Officer Arpanarghya Saha:
Digitization embraces the senior citizens
Among other projects, Shriram Capital completely transformed the 2-wheeler loan origination system, reveals the company's Chief Digital Officer Ajay Thomas:
Making of the most connected bank in Bangladesh
A stream of digital initiatives is transforming Mutual Trust Bank and its customer engagement, reveals Khalid Hossin, who heads the bank's digital banking division:
Digital embraces Archaeological Tourism
Chief Digital Officers are leading tremendous transformation initiatives. Five CDOs reveal their fascinating journey and their ambitious goals:
Tech will bridge Advisory and Education
Venkatesh Naidu, CEO, Bajaj Capital Insurance Broking:
AI bridges Protection and Prevention
Gyanendra Singh, Chief Technology Officer, Aviva India:
Bridging Products & Distribution for Rural Markets
Vikas Mittal, Deputy CEO, and Amit Thapliyal, Chief Technology Officer, Magma HDI General Insurance:
