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Of Hi-Tech Banking the Role of Ctos in the Banking Ecosystem Has Never Been As Critical and Powerful As It Has Evolved Into in the Present Times Leadership Summit DIGITAL MONEY -3 THEJune FUTURE 2016 OF BANKING Flashback Vivanta byMUMBAI Taj- President AUGUST 2016 | VOLUME 02 | ISSUE 3 | US $10 | `75 TechnologyHARBINGERSHARBINGERS officers are redefining banking experience by making it convenient and cost-effective through the of Hi Tech Banking use of right technologies - 23rd September 2016, Jaipur Shri Rajendra Singh Rathore Hon’ble Minister of Medical, Health & Family Smt Vasundhra Raje Welfare, Government of Hon’ble Chief Minister Rajasthan Rajasthan HEAD OFFICE MIDDLE EAST OFFICE Elets Technomedia (P) Ltd., Elets Technomedia Pvt Ltd (FZE), Stellar IT Park, Office No. : 7A/7B, 5th Floor, Annexe Building, SAIF Desk Q1 - 05 - 130/A, P. O. Box: 124939, Sharjah, U.A.E C-25, Sector 62, Noida, Uttar Pradesh - 201309, India, Ph: +91-120-4812600 PLANNING STRATEGY? REAPING THE REWARDS OF REFORM! As financial products become easier to develop, banks can spend more time exploring value opportunities and less time planning. For more information, please visit e.huawei.com Contents AUGUST n VOLUME 02 n ISSUE 03 CTO SUMMIT SPECIAL 2016 08 24 30 K G Subramaniam Mohan Jayaraman Director- Technology, Managing Director, Barclay's Bank Experian India 26 32 Milind Varerkar Sameer Jaini COVER CTOs: Harbingers of General Manager-IT, Chief Technology Officer, JAMSTORY TRANSFORMINGHi-Tech Banking Saraswat Bank DCB Bank BFSI LANDSCAPE FLASHBACK CTO SUMMIT SPECIAL Leadership Summit 28 L MONEY - THE FUTURE OF BANKING Anup Purohit 3 June 2016 Chief Information 10 18 Officer, Yes Bank 53 Shiv Kumar Bhasin Rakesh Kumar Chief Technology General Manager - IT, Officer, SBI Punjab National Bank CORPORATE 12 20 34 40 48 Dr N Rajendran Lalit Popli Nagaraj Mylandla R Narayana Kumar Ajay Kumar Chief Technology Officer, National Head – IT, ICICI Prudential Chairman & Managing Chief Dev. Officer, Managing Director - Payments Corporation of India Asset Management Company Director, FSS Vortex Engineering Asia Pacific 14 21 36 42 50 Sankarson Banerjee S S Bhat Madhav Bhadra Vinod Ganesan Sameer M Gokhale CTO-Projects Chief General Manager, Director, AQM Software Director Sales-BFSI, Co-founder & CEO, NSE Canara Bank Testing Lab Hitachi Data Systems Jampot Technologies 16 22 38 46 52 Samuel Joseph Deepak M Sharma Piyush Somani Umesh Sachdev Bryce Boland General Manager, Chief Digital Officer, CEO, CEO & Co-founder, CTO - Asia Pacific, Export-Import Bank of India Kotak Mahindra Bank ESDS India Uniphore FireEye. Inc. 4/ BFSI | bfsi.eletsonline.com | AUGUST 2016 AUGUST 2016 VOLUME 02 n ISSUE 03 EDITOR-IN-CHIEF: Dr Ravi Gupta CONFERENCE | AWARDS | EXPO EDITORIAL TEAM - DELHI/NCR Senior Assistant Editor: Nirmal Anshu Ranjan Assistant Editor: Souvik Goswami, Gautam Debroy, Kusum Kumari Senior Correspondent: Manish Arora BANGALORE BUREAU T Radha Krishna - Associate Editor MUMBAI BUREAU Kartik Sharma - Senior Assistant Editor Poulami Chakraborty - Correspondent JAIPUR BUREAU Kartik Sharma - Senior Assistant Editor CHANDIGARH BUREAU Priya Yadav - Assistant Editor HYDERABAD BUREAU Sudheer Goutham B - Senior Correspondent LUCKNOW BUREAU Arpit Gupta - Senior Correspondent SALES & MARKETING TEAM Product Head: Fahim Haq, Mobile: +91-8860651632 Senior Manager: Gaurav Srivastava, Mobile: +91-8527697685 Manager: Manu Raj Singhal, Mobile: +91-9871543890 Senior Executive - Shivam Pathania SUBSCRIPTION & CIRCULATION TEAM Manager Subscriptions: +91-8860635832; [email protected] DESIGN TEAM Creative Head: Pramod Gupta, Anjan Dey Deputy Art Director : Om Prakash Thakur, Gopal Thakur, Shyam Kishore EVENT TEAM Manager: Gagandeep Kapani ADMINISTRATION Head Administration: Archana Jaiswal EDITORIAL & MARKETING CORRESPONDENCE BFSI – Elets Technomedia Pvt Ltd: Stellar IT Park Office No: 7A/7B, 5th Floor, Annexe Building, C-25, Sector-62, Noida, Uttar Pradesh - 201301, Phone: +91-120-4812600, Fax: +91-120-4812660, Email: [email protected], Banking & Finance Post is published by Elets Technomedia Pvt Ltd in technical collaboration with the Centre for Science, Development and Media Studies (CSDMS). Owner, Publisher, Printer - Dr Ravi Gupta, Printed at Vinayak Print Media, D - 249, Sector-63, Noida 201 307. UP and published from 710, Vasto Mahagun Manor, F-30 Sector-50, Noida, UP Editor: Dr Ravi Gupta All rights reserved, No part of this publication may be reproduced or transmitted in any form or by any means, electronic and mechanical, including photocopy, or any information storage or retrieval system, without publisher’s permission. Write in your reactions to news, interviews, features and articles. You can either comment on the individual webpage of story, or drop us a mail at [email protected] 6/ BFSI | bfsi.eletsonline.com | AUGUST 2016 ov digitallearning.eletsonline.com egov.eletsonline.com ehealth.eletsonline.com iceconnect.eletsonline.com EDITORIAL Banking on Technology ver bothered to recall when was the last time you visited your bank for conducting routine transactions? Many of us won’t be able to, I bet. After all, where is the need to take pains to visit the brick and mortar bank branches when you have the luxury to carry your bank in your pocket! All you need to do is to take your smartphone out and complete the E transactions just by pushing a few buttons. And, it’s done! The presence of technology is all pervasive now, and the banking sector has been among the leaders in adoption of technology as it makes advancements with each passing day. From the times of taking half-day leave from your office only to withdraw money from your bank account to visiting an ATM point at your convenience round the clock to pull cash, to making bill payments online, to making cashless eCommerce transactions… The way we did banking earlier has changed once and for all. And, the one person responsible for planning and execution of technology in the banking ecosystem is the Chief Technology Officer (CTO), also referred to as Chief Information Officer (CIO) at some places. In the present-day cut-throat competition, mainly driven by the adoption of right technologies, any wrong decision by the CTO can put the business prospects of a financial institution in jeopardy. That is the kind of transformative power attached to the profile of a CTO — from being just the technology advisor to a bank, today he is looked upon as the business driver for the financial institution he serves. In view of the ever-growing role of CTOs, evolving in sync with the evolution of technology, Elets Technomedia has organised “BFSI CTO Summit” in Mumbai on 23rd August 2016. The Summit will bring together the CTOs of leading commercial banks across India, senior executives, technology innovators and solution providers. They would discuss and deliberate on the emerging trends of technology being adopted by banks, share innovative ideas and solutions and build network, and of course, talk about the changing profile of CTOs in financial institutions. The day-long national-level Summit is tailored to converse and collaborate through a series of informal conversations led by the attendees themselves. They would also deliberate on the issues facing IT heads of various banks today and the opportunities lying therein. The BFSI CTO Summit is also aimed at helping the people at large learn from the top IT practitioners as they share their varied experiences. We dedicate this CTO Summit Special issue to those who have influenced technology adoption in the Banking & Financial Services and Insurance Sector in general. RAVI GUPTA [email protected] AUGUST 2016 | bfsi.eletsonline.com | BFSI /7 CTO Summit Special CTO Summit Special COVER STORY COVER STORY CTOs Harbingers of Hi-Tech Banking The role of CTOs in the banking ecosystem has never been as critical and powerful as it has evolved into in the present times. The scope of their responsibilities has widened and they are now looked upon as the business facilitators rather than being just the tech experts to their organisations, writes Sandeep Datta of Elets News Network (ENN) electronic channels and offering customers direct access n the times of smartphone-weilding consumers con- to their accounts, banks can now offer quick service and stantly looking for convenient banking services and transparency as well. Ithe threat perception from cybercrime groups and Introduction of mobile banking, primarily through SMS, even state actors, the role of Chief Technology Officers was another milestone. Launch of smartphones brought (CTOs) is turning out to be more critical than ever. about a revolution of sorts in the banking world. As the number of mobile phone users in India grows rapidly, EVER-EVOLVING BANKING SYSTEM banks are exploring the feasibility of using the ubiquitous Over the past 10-15 years, there has been a noticeable device as an alternative channel for delivery of full-fledged shift from traditional to channels-based banking. While banking services. introduction of ATMs gave customers anytime access to their money, the cards-based banking unleashed a revolu- ROLE OF CTOs tion by enabling cashless transactions. In such scenario, the role of CTOs or Chief Information Affordable technology infrastructure, like inexpensive Officers (CIOs) acquires an altogether new dimension– but powerful computers and other handheld gadgets and apart from being the technology experts, they are also the higher Internet bandwidth at a low cost, have facilitated present-day business facilitators for their organisations. A easy access to banking products and seamless banking section of banking industry experts, meanwhile, feels that transactions.
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