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Consulting Connoisseurs, 2014
A sector of the size of INR 80 trillion, the Indian Banking Industry is undergoing major transformation.
A set of new banks will get the regulator's approval, some foreign banks operating in India may decide in favour of local incorporation to get near-national treatment, and new norms for early recognition of financial distress and faster resolution and recovery will help curb rising bad assets and improve the health of the banking system.
Banking Industry in India can be broadly classified into Nationalized Banks, Cooperative Banks, Private banks and Foreign Banks. Banks account for 7.7% of the national GDP and the sector is the pioneering example of organized services spanning across B2B, B2G and B2C segments.
Banking Industry, especially the Cooperative Banks and some Nationalized Banks, have been laggards in technology adoption are adopting technology to compete in New Normal world and to ensure financial inclusiveness
Insurance sector in India pegged at $40.7 billion is growing at a rate of 15-20% adds 7 % to Country’s GDP buts still 75% of population do not have insurance.
Our retail sales framework are aimed at assisting insurance companies improve their selling proposition and their market reach.
Agents and dealers are often the critical link in the 'last mile' of the currency value chain for banks.
Our logistics offerings are aimed at assisting such companies.
Integration is the key to success in today's banking. We classify dedicated IT teams for the BFSI verticals under the umbrella of the Banking sector.
A pro-active strategy for IT services in Banking is often the key to better performance and a greater market potential in the short and the long-run. Technology is key enabler to sustain compliance to regulatory requirements and embracing SMAC to deliver innovative products.