MY BRAND BOOK Milind Varerkar, General Manager-IT, Saraswat Bank

Milind Varerkar, General Manager-IT, Saraswat Bank

By MYBRANDBOOK

“Flexibility does not mean compromising on security”

Commitment as a Tech Head
The position of CIO is very important for a business. He /she get to see all the functional areas of the business from close angles. The CIO also needs to work closely with the board, understanding business goals and complementing it with the IT strategy. As a CIO, connecting with Business heads is must to understand pain areas or requirements of the various business divisions. This helps in providing a best fit solution or innovative technology that will help the business to leap ahead.

Experience Cell
The biggest challenge we faced in our bank was awareness of the Digital products among customers and employees as well. I have innovated a solution by identifying enthusiastic young staff members across the bank and given them role of an ‘IT EVANGELIST’. This helped in increasing the usage of digital products by 200%. I have also incubated a separate ‘Digital Banking Cell’ to focus on all the Digital products and implementation. This has helped in faster product roll out and focused approach that saw wider acceptability of these products in customers.

Adaptability to Organizational Changes
As a CIO, I have experienced the changing landscape of IT. From being static, on premise, walled infrastructure to remodeling the IT to be dynamic enough to respond to the challenges and demands of business. By adopting cloud computing we are able to manage resource requirements quickly for higher volumes of business. Flexibility does not mean compromising on security. With the Digital products the threat of cyber crimes also needs to be taken care off and ensure that the customer gets a ‘secured’ and ‘always on’ environment to transact. The remodeled IT today is able to respond quickly to the ever increasing channels of transactions in the bank.

Investment Plans for FY 18-19
The CIO has to bear in mind while preparing the budget that the business requirement and growth will come through the investments that are planned. This being a priority, we have prepared the budget in five categories for 2018-19 namely –
• Use of AI and BI for business enhancements
• Middleware for ease of operations and performance enhancements.

It is true that the CIO brings in specialist skills and knowledge to the enterprise. Along with that he/she also has to be a business partner so that the business units get right sized solutions. The current scenario in banking is very exciting and challenging as well. The ‘convenience’ of banking through branches also needs to be replicated in Digital products by ensuring Ease and multiple functionalities.

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