Security is an important aspect of overall risk management of a bank. Its successful implementation depends on the creation of robust security policies, participation of the senior management and appropriate training of the bank personnel. To repeat a cliché, eternal vigilance continues to be the price for safe banking.

The writer is a banking and financial services technology consultant hemant@adarkar.com

‘The customer should benefit’
S. Chatterjee Executive director, UTI Bank

On the role of technology. Technology should benefit the customer the most. It should enable the bank to lower costs, to deliver consistent and efficient service, and to contain operational risks associated with delivering quality service.

On offering different services to different customers. Our products are different, but our technology is the same. We segment our customer base on factors like income and saving propensity. For each segment, we design and price our products accordingly — products for high net worth individuals will differ from those for the mass affluent. We were born in a computerised environment and that enables us to deliver products across geographies. We have a centralised database. We think in terms of design of products and in terms of delivery of products through technology.

‘Technology is a big enabler’
Bhaskar Ghosh Managing director, IndusInd Bank

On technology being an enabler. Every week there's some new technology coming. So, banks are constantly looking to upgrade their technology and offer new services. Since a lot of service upgrades have been driven by technology, customers are less tolerant of service mistakes.

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