How will technology transform the future of banking?

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2. Y. B. Chavan, Nariman Point, Mumbai : Y. B. Chavan, Nariman Point, Mumbai : On 7th of May 2017 the National Conference on Urban Co-Operative Banks was held in Mumbai. The agenda of this event was to Understand the challenges faced by the UCBs, the Legal and Policy Issue of the UCBs, the RBI Regulatory changes required for the UCBs, the future of UCBs in the Global prospect the Technology Upgradation & Challenges. This one-of-a-kind event brought together industry experts as well as innovative business leaders in financial services, technology, research and development who addressed and provided updated information and solutions to the challenges faced by the Industry. Mr. Punit Jain, CEO at Nelito Systems Ltd. was one of the Panellist for "Technology & Future Banking" discussion session. During the discussion Punit emphasized on what the cooperative banks can do using IT to grow, in spite of their various constraints. He also put light on the current realities for Co-operative banks. As IT is becoming too complicated most of the coop banks feel overawed by it. There is a limited technical depth of the team and this usually is exacerbated by their location, which in many cases is in smaller cities and towns. Further due to regulatory restrictions many are not allowed to offer even mobile and internet banking, without meeting certain size criteria. Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD

3. One of the major challenge is opening branches in large cities is very expensive, and is not viable anymore and lack of attention from large IT companies. The Large banks undercut cooperative banks by giving loans at lower interest rates, which cooperative banks cannot match up too. Another challenge is that many co-operative banks are using IT systems and core banking systems core banking systems which were purchased 10 years back, and were designed for branch banking hence cannot handle increased loads and integrations with so many new payment systems. He also shared his thoughts on what can they do to grow, in spite of these constraints. In view of more and more digital channels and consequently increased transaction volumes, review the current CBS load handling and integration capabilities, and evaluate if there is a need to change. He also stated that in today's digital world co- Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD

4. operative banks need to choose the right IT partner who is agile and open doors to multiple solutions. The IT partner should be capable to make the current digital technologies work for cooperative banks in a practical way. If RBI puts restrictions on Mobile and Internet banking they should explore Doorstep banking known as BC Banking or Tab banking where there is no such restriction, there. Doorstep banking which is also The discussion indicated the need to explore alternative revenue sources beyond normal lending like Microfinance, Banc Assurance, selling mutual funds, etc. and these business models can be facilitated by Doorstep Banking. More Highlights FinBizness with Punit Jain on trends in Bank-Fintechs Collaboration Nelito wins "The Best IT Solution Provider of the Year" Award at NBFC100 Tech... Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD

5. Nelito in Banking Frontiers NCBS- FCBA 2017 UPMA 2nd State Micro Finance Conclave, Lucknow - 2017 Mr. Punit Jain speaking about the Future of Digital Finance Nelito Wins IMC Digital Technology Awards 2016 DTS Corporation, Japan takes a DTS Corporation, Japan takes a significant minority stake in Nelito significant minority stake in Nelito Systems Systems Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD

6. 29th March 2017, Mumbai – Nelito Systems Ltd., India's prominent financial technology company has approved an equity investment by DTS Corporation, Japan of a 44.5% stake in the company at the meeting of its Board of Directors... Nelito showcases its solutions in the Mint Annual Banking Conclave 2017. Government of Manipur felicitates Nelito for successful... Nelito in Banking Frontiers NCBS- FCBA 2016 CLIENT SPEAK Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD

7. "The Bank is associated with M/S Nelito since 2002. M/S Nelito Systems Ltd has been our CBS vendor since 2009. The Products, quality"Good & Co-operative." + + Banking Solutions Banking Solutions Front End Channels Front and Middle Office Back Office Risk Management + + Lending Solutions Lending Solutions FinCraft Core Microfinance Solution Loan Management Solution Loan Origination Solution EMI Collection Solution BI & Analytics Create PDF in your applications with the Pdfcrowd HTML to PDF API PDFCROWD