NKGSB Bank focusing on improving agility and responsiveness
By MYBRANDBOOK
Amit Jaokar
CISO & CDO
NKGSB Bank
KEY PRIORITIES OF 2020
Technology is the backbone for any business and the most important factor is when it comes to captivating the business to newer heights. Our focus is on improving agility and responsiveness. To remain competitive, we need to respond quickly to marketplace changes and customer demands. Using analytics to better understand customer experience, we need to adapt products and services, marketing programs, and other elements based on what we learn.
We are anticipating this shift towards digital banking courtesy COVID-19, and taking relevant measures. By implementing completely digitized and remote customer transactions, banks can ensure that both every day and exceptional processes will be carried out seamlessly.
Currently with COVID-19 crisis, banks / financial institutions are facing various challenges, let us assure people one thing that, whatever the eventual outcome, Banks will learn many valuable lessons about their customers, their own competences, limitations and what is required to overcome. These things will serve them well in the years ahead.
COMBINING BREAKTHROUGH & FUSION APPROACH
NKGSB Bank is a 102 years young bank & renowned brand in the cooperative bank segment. We have various age groups as our clients; the key differentiator between the private banks and cooperative banks is the relationship with the client. Cooperative banks are very closely integrated with their clients and that integration plays a very crucial role in retention. Generations of clients remain banking based on this relationship. Having said this the younger generation will not rely only on the relationship, they will also look for the comfort and easiness which other banks are providing. We have to cater various age groups right from brick and mortar to millennial and to maintain the poise we have to find the right balance and same goes with the technology adoption. In the fast-changing digital world, it will be difficult to scale the immediate client demands, unexpected growth without adopting the latest technology.
“The “Software defined everything” approach allows businesses to leverage anything and everything over the internet.
It gives the liberty to create state of the art software defined elements like Virtual storage, Virtual network, Virtual platforms etc.
with all in one software defined management console to manage everything seamlessly. It is becoming an enabler that
leads the transformation and sets up the right base on which the new age user experience can be built to give them the
UX that will hover around gen next offerings such as Fingertip Availability, Real-time Collaboration, Prescriptive Systems, Real-time Demand-Supply match, Ease of Use, Self-service. Further, this approach can be leveraged to reduce / control the outflow, simplify the IT management, to gain virtually limitless control. It brings automation into the picture, adding value to your operations right away.”
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