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Roadmap for Digital Banking in Digital India – Are we ready for lift o ff ?

Roadmap for Digital Banking in Digital India – Are we ready for lift o ff ?. T. V. Mohandas Pai, Chairman , Manipal Global Education Services Pvt. Ltd. The Global Digital Imperative. Global Digital Economy. The world’s largest taxi company owns zero vehicles.

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Roadmap for Digital Banking in Digital India – Are we ready for lift o ff ?

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  1. Roadmap for Digital Banking in Digital India – Are we ready for lift off? T. V. Mohandas Pai, Chairman, Manipal Global Education Services Pvt. Ltd

  2. The Global Digital Imperative

  3. Global Digital Economy The world’s largest taxi company owns zero vehicles The world’s mostpopular media ownercreates zero content The world’s largestaccommodation providerowns zero real estate The world’s mostvaluable retailerhas nearly zero inventory Manipal Global Education Services Pvt. Ltd.

  4. Digital disruption is leading to Existential Crisis for some… Manipal Global Education Services Pvt. Ltd.

  5. Banking – Digital Vortex in Action Company name and logo is a trademark of the respective organizations. Manipal Global Education Services Pvt. Ltd.

  6. Banks Are Trying To Fight Back.. Manipal Global Education Services Pvt. Ltd.

  7. India – Blossoming Digital Economy

  8. Govt. providing the Spark, Consumer fuelling digital Fire Consumer Fuelled Government Push Broadband for All (Rural) – Rs. 3,200 bn • Growth from 190 mn internet users in 2014 to expected 500 mn in 2018. • This growth is fuelled by more older, more women, more rural and more vernacular. • Internet economy will move from being 2.7% of GDP (2013) to 4% of GDP – on par with developed markets. National Information infrastructure – Rs. 1,568 bn Digital India Universal Access to Mobile connectivity, Rs.1,600 bn Digital Inclusion – 170 mn direct jobs eKranti – Digital delivery of services Source:DeitY Source:BCG Manipal Global Education Services Pvt. Ltd.

  9. Government Initiatives – Digital and Inclusive 01 JAN DHAN ACCOUNTS (193 mn) 02 AADHAAR (993 mn) 03 PAYMENTS & SMALL FINANCE BANKS (21 new Institions) • PAYMENTS • IMPS (196 mn txns in 2015) • UPIBharath Bill Payments 04 Manipal Global Education Services Pvt. Ltd.

  10. The Digital Infrastructure in India is still evolving Source: Credit Suisse report Dec 2015 Manipal Global Education Services Pvt. Ltd.

  11. Emerging Digital Banking System Mobile Banking User Forecast Source: KPMG, FinancialExpress Source:McKinsey Manipal Global Education Services Pvt. Ltd.

  12. Indian Banks’ Response Manipal Global Education Services Pvt. Ltd.

  13. Fintechs are not far behind… Crowd Funding Personal Finance & Invesments P2P lending wallets New Payment banks on the radar Manipal Global Education Services Pvt. Ltd.

  14. Digital Journey – Are Banks Doing Enough?

  15. Truly Digital – What it’s not • Just adding new channels • Adding delivery of banking services on new devices • Enhancing same old banking business models with digital technology • Giving legacy processes a digital facelift • Automating existing processes without reimagining + x + + + Manipal Global Education Services Pvt. Ltd.

  16. Truly Digital banking paradigmhas fourstandout characteristics Manipal Global Education Services Pvt. Ltd.

  17. The customer is the focal point • This is the world of the customer • Customer experience is just the beginning • Integrate banking seamlessly in the lives of consumer • Identical individuality to individual identity • Convenience, speed and personalization – Always Manipal Global Education Services Pvt. Ltd.

  18. Insight ahead of everything • Capture, learn and leverage • Analytics is the key to the competitive edge • Data is everywhere – success belongs to those who use it well • Insights should be in the hands of all stakeholders • Mass personalization is real • Insights integrated with the process & apps Manipal Global Education Services Pvt. Ltd.

  19. Ubiquitous automation & leverage tech disruptors • Seamlessandunbound • Leverage tech disruptors such as Blockchain, Social, start-ups, sharing economy to reduce friction and seamless automation • Automation reduces friction, improves seamlessness • Automation delivers consistent & superior customer experience • Ubiquitous automation allows for un paralleled value generation • Tomorrow's banks will be autonomous – run by self-learning virtual agents Manipal Global Education Services Pvt. Ltd.

  20. Ecosystem before bank • A step towards the future • Unbundling of banking and fragmentation of services • The ecosystem is the new universal bank • The future lies in opening up your bank • Co-opetition will be the norm • Your APIs should rule the space or you could be ruled out Manipal Global Education Services Pvt. Ltd.

  21. Finacle helping banks to become #TrulyDigital • Finacle, is today touching 16.5% of the global banked population 6 out of top 10 Indian Banks are powered by Finacle 60% Market share among the top 40 banks 848 Million Customers globally on Finacle Platform Over one billion customer accounts in more than 92 countries Proven solution in India, rated as best platform globally Manipal Global Education Services Pvt. Ltd.

  22. Thank you very much… Manipal Global Education Services Pvt. Ltd.

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