The 7th Edition of the premier Annual Banking Technology Conference & Expo kick-starts with an in-depth look into key Areas in the Indian Banking Sector
·The presence of Dr. APJ Abdul Kalam raises bar of the conference by several notches; motivates and inspires all present
· Mr. O.P.Bhatt, Chairman, IBA and Chairman, State Bank of India inaugurates the conference.
· Six of the IBA Banking Technology Awards went to HDFC Bank Limited in various categories, ICICI Bank got four, The State Bank of India, IDBI Bank and Corporation Bank bagged three awards each in various categories. Other banks to have won awards are Indusind Bank, Kotak Mahindra Bank, Punjab National Bank, UCO Bank, Bank of Baroda, Abhyudaya Co-operative Bank and Shamrao Vitthal Co-operative Bank.
· Alpha Plus Technologies, APC By Sneider, Cisco Systems, CtrlS Datacenters Ltd, Finacle, Microsoft Corporation (India) Pvt Ltd, Sanovi Technologies (India) Pvt Ltd, SAS Institute (India) Pvt Ltd, Surya Software, Sybase and Vision Solutions are the sponsors of this year’s Banking Technology Conference & Expo.
Mumbai March, 3rd, 2011: The 7th Annual edition of the prestigious Banking Technology Conference & Expo, organised by The Indian Banks’ Association got underway today amongst an august gathering of top-level bankers of the Indian Banking Industry and Technology bigwigs at Hotel Trident, Mumbai. The inaugural address was made by O. P. Bhatt, Chairman, IBA and Chairman, State Bank of India.
Inaugurating the conference, Mr. Bhatt said, “Rapid growth in banking in the last decade has resulted in technology not getting properly assimilated which has built a huge risk in the system, which only technology can mitigate. We still have a long way to go in achieving customer centricity and I strongly believe that Technology will be the driving force in changing customer expectations. It is technology that will help build skill and transform people without corresponding rise in cost, in the time to come.”
The conference deliberated upon many active challenges that a banker faces today. The presence of Dr. APJ Abdul Kalam raised the bar of the conference by several notches taking the IBA Banking Technology Awards to the next level. Taking the awards from Dr. Kalam was a great motivational factor for the bankers.
Making an inspiring speech on how technology can take financial services to the unreached Dr. APJ Abdul Kalam said, “Each step we take towards a developed nation also opens a fresh challenge to overcome. The need of the hour is the evolution of sustainable systems which act as “enablers” and bring inclusive growth and integrated development to the nation. The banking system of the nation has an important role to develop the key technologies needed for funding and creating local core competence and promote entrepreneurs at the rural and town levels. For success in all the missions, it is essential to have creative leaders. For a vibrant inclusive finance sector, the important thrust will be on the generation of a number of creative leaders who will pioneer the promotion of financial inclusion both in rural and urban areas of the countries with imaginative use of technology and innovation.”
HDFC Bank emerged as the top bank, having won six awards in the following categories: Best Online Bank of the Year, Best Use of Business Intelligence, Best Customer Initiative, Best Risk Management Initiative, Best Financial Inclusion Initiative, Best Technology Bank of the Year.
ICICI Bank got four, The State Bank of India, IDBI Bank and Corporation Bank bagged three awards each in various categories. Other banks to have won awards are Indusind Bank, Kotak Mahindra Bank, Punjab National Bank, UCO Bank, Bank of Baroda, Abhyudaya Co-operative Bank and Shamrao Vitthal Co-operative Bank.
The awards were divided into 7 categories each for Private Sector, Public Sector and Co-operative Banks. The categories were Best Technology Bank Of The Year, Best Online Bank, Best Use of Business Intelligence, Best Customer Initiative, Best Risk Management Initiative, Best Use Of Technology In Training & eLearning Initiative, Best Financial Inclusion Initiative. K.V.Kamath, Non Executive Chairman, ICICI Bank and Chairman Award Jury, A. K. Purwar, Chairman, IndiaVenture Advisors Pvt. Ltd, M. Balachandran, Director, IBPS, B. Sambamurthy, Director, and IDRBT were the panel of judges for the BankTech 2010 awards.
The conference continues tomorrow and the day will see many important discussions on improving the Indian Banking experience through technology.