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Transformation in the Indian Banking space

April 24, 2023

Transformation in the Indian Banking space
The future of banking in India hinges on three areas sustainability, central bank digital currencies (CBDC) and hyper-personalisation. To explore the potential that can be unlocked in these spaces, FinancialExpress.com and IBM, gathered a group of India’s top bankers, financiers and insurance leaders for a unique and parallel roundtable discussion. 

The goal: Outline what the future holds in these areas for Indian banking and financial markets with the advent of new technologies. 
 
The bank now is literally a flick of a finger away. From investment to insurance, trading to transferring funds, financial services are tailor-made to suit your requirement and profile. However, how much is too much when it comes to personalisation.
 
This was what leading luminaries of the financial world discussed and debated at the first roundtable on “Responsible Hyper-personalisation of Banking Services”. Most of the panellists at the table agreed that hyper-personalisation is important but it has to be need-based.
 
As Nitin Chugh, Deputy Managing Director and head of digital banking, State Bank of India highlights the need to see a “gradual shift to hyper-personalisation in things which are relevant, contextual.”
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