Accelerating your Journey to TrulyDigital Banking

There are two sets of factors that are contributing to the transformation of the financial service industry. The first being, environmental factors like sluggish global growth and increasing regulatory costs; and the second is banks having to deal with ubiquitous digitization caused by rapid evolution and adoption of modern technologies. Along with falling profits, stagnant growth, and stringent capital adequacy requirements, banks will increasingly need to explore newer revenue streams. And the very technologies that are disrupting the environment, will provide the opportunities for banks to do so.

In this edition of FinacleConnect, we explore how banks can mitigate these challenges, this year and beyond, by transforming from digital to TrulyDigital. We kick things off with our cover story by Sanat Rao, Chief Business Officer & Global Head, Infosys Finacle, that examines how the banking wheel will be reinvented in 2017. The feature by Karine Coutinho, Deputy Managing Director & Head of Content, Efma, picks up from Sanat’s cover story, and discusses what lies ahead for retail financial services and its biggest disruptors.

Blockchain is our technology in focus in this issue. The perspective article, “Blockchain Technology: From Hype to Reality”, provides a deep dive into our recent report in this space. We also move beyond blockchain in theory, and talk to a few practitioners – Sampath Srinivasan, Senior Vice President, Strategic Projects, Emirates NBD, and Abhijit Singh, Head of Business Technology Group, ICICI Bank – of blockchain in our Inside Talk piece.

The opinion piece examines how banking is evolving as a platform for connecting consumers and service providers, instead of being just a provider for its own services and products.
This edition of FinacleConnect showcases some of the biggest trends that will enable banks to become a TrulyDigital player in the open ecosystem. We hope that you will find this issue insightful and an interesting read. Do let us know your views.

Puneet Chhahira
Global Head of Marketing, Infosys Finacle