IDRBT organized a two-day seminar on Banking Technology for Directors on Bank Boards on September 26-27, 2016, to help them appreciate the need for taking the digital banking journey forward and at the same time strengthen the preparedness of banks in cyber defence, in view of the growing threats.
The seminar opened with a keynote address by Shri. R. Gandhi, Deputy Governor (DG), RBI and Chairman, IDRBT, read out by Shri. S. Ganesh Kumar, CGM-in-Charge of DIT, since the DG could not be present personally due to sudden exigencies. The DG exhorted the Directors to play an active role in ensuring strategic alignment of IT and business in banks to pave the way for improving efficiency and effectiveness of banking operations.
Prof. G. Sivakumar, IIT Bombay, in his talk on "IT Infrastructure Management in Banks: Challenges and Opportunities" highlighted the various options available for making appropriate technology choices for banks. He also emphasised the need for board level encouragement and support for the managements in banks to tackle the critical problems associated with sourcing, supply and support of technology-enabled services and platforms in banking.
"Cyber Security Preparedness in Banks" was the focus of intense interaction between the delegates and Smt. Meena Hemachandra, Executive Director, RBI. She dwelt at length on the recent circular and guidelines from RBI in this regard, explained the various requirements stipulated and the purpose behind these initiatives. The need for achieving a baseline cyber security framework and a cyber-crisis management plan in banks, as early as possible, as envisaged by the RBI was of paramount importance, she reiterated and requested the boards to actively help and guide the banks in this regard.
Dr. Santanu Paul, CEO, TalentSprint, painted a picture of where the banks are heading with regard to artificial intelligence and robotics. The need for using bots for improving internal efficiency and enhancing customer experience was demonstrated through the examples of what is happening already in a number of other industries and services.
Smt. Shubhalakshmi A. Panse, former CMD of Allahabad Bank, in her interaction with the delegates on "Board Level Focus on Banking Technology" took them through a guided tour on almost all aspects of board level decision-making regarding technology alignment, acquisition, deployment and monitoring. She also listed out a good number of practical suggestions and useful tips to help the boardmembers in this important task.
Dr. A. S. Ramasastri, Director, IDRBT, interacted with the delegates and briefed them on what IDRBT is doing to promote banking technology adoption, upgradation, absorption and innovation in India. He also highlighted the useful and proactive role played by the Research Centres in IDRBT focusing on Analytics, Mobile Banking, Cyber Security, Cloud Computing and Affordable Technologies, in helping banks reduce their lead time in deploying these technologies and solutions.
The seminar ended with a vote of thanks by Dr.M.V. Sivakumaran, Faculty,IDRBT.