ING Vysya upgrades CBS to address demand for online services
With more and more of its customers demanding alternative delivery channels like Internet and mobile banking, ING Vysya is all set to upgrade its core banking systems in the next one year.
According to C V G Prasad, CIO, ING Vysya, the upgradation was necessitated by customers’ need to use more technology-based services like mobile and Internet banking without compromising on quality. Its customers are also demanding more services be made available online with faster delivery systems.
“The new crop of customers is young and don’t have the time to visit the bank branch and would prefer to do all their banking online or via mobile phone. Therefore, the time-to-market and quality of service is becoming crucial for banks. Customers are depending more and more on technology in order to deliver services faster with better time-to-market and are demanding more services online,” said Prasad.
It is without doubt, the banking industry is becoming very competitive and the current-day customers have more access to information. “The moment you have more information, customers have more choices. And the moment there have more choices, customers become more demanding. They know that if my bank does not provide them with the services they are seeking, they will go to another bank that does. Hence, the challenge is to deliver faster services. Customers are expecting more services to be made available online and faster without compromising on quality,” said Prasad.
To make this more seamless for its upwardly mobile customers, Prasad said ING Vysya is also making large investments in services via mobility. “We are launching a smartphone-based mobile banking solution with unique features. I can’t name those features at the moment due to confidentiality issues. We already have a fairly good Internet banking channel and we will be looking at adding more features to increase the offerings,” said Prasad.
To facilitate the upgradation, Prasad also said the bank is making large investments for its datacenter modernization project. “We have kicked off a project on a large scale for our datacenter modernization because datacenter plays a key role in our business growth plan. This project is to ensure we are able to support our business growth for the next 5-7 years without any capacity issues,” he said.
As part of the datacenter modernization project, the bank is also investing on components that will set up the necessary framework for a private cloud. “Our private cloud adoption will happen in the next one year as part of our datacenter modernization,” said Prasad.
In his view, banks will never opt for public cloud adoption because of compliance issues. “Being a bank, it is going to be very difficult to look at public cloud because banks have a highly regulated environment. We also have issues with keeping client data outside, which would lead to compliance issues. It is not easy to look at public cloud partly because of security issues,” he said.
- Edge Computing Drives Internet Of Thing's Growth: Study
- Indus OS To Become Default Platform For Internet Content: CTO
- How Businesses Can Generate Insights From IOT Devices
- India's Mobile Data Traffic To Grow 5x By 2023: Report
- MoneyOnMobile Introduces Bharat Bill Payment
- How AWS Is Driving India's Cloud Growth Story
- 5G Will Create USD 27-Bn Opportunity For India: Ericsson
- How HR Analytics Can Be A Game-Changer In The Banking Industry
- 10 Reasons That Make SMS A Powerful Marketing Tool
- 8 Out Of 10 Shopping Apps Have Security Flaws: Report