Demonetisation Boosted the Thrust of Digital Economy: K Ramachandran, Senior Advisor-Banking Technology, Indian Banks’ Association

• 03-08-2017 12:31:08
• Banking and Finance

Demonetisation gave the thrust for expansion to the banking and financial sector. Banks have been having a healthy competition in adopting the latest technology in recent times. They are showing their eagerness to adopt technologies, namely, artificial intelligence, cloud computing, big data and analytics, Blockchain ,etc. In terms of digital banking, especially in the last one year, several new implications such as transformation of mobile banking which is not just limited to transactions and remittance but also opening of fixed deposit and getting loans against them is also made possible


K Ramachandran, Senior Advisor-Banking Technology, Indian Banks’ Association at 2nd BFSI CTO Summit 2017

Demonetisation gave the thrust for the expansion in the banking and financial sector could go to multiple axis. Banks have been having a health competition in adopting latest technology in the recent times. They are showing their eagerness towards technologies namely artificial intelligence, cloud computing, big data and analytics, Blockchain etc. In terms of digital banking, especially in the last one year, several new implications such as transformation of mobile banking which is not just limited to transactions and remittance but also opening of fixed deposit and getting loans against them is also made possible.

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