In a recent fireside chat with Babu Nair of Banking Frontiers, Surajit Deb- Head of the technology management group and chief architect at IDFC First Bank, outlines the thoughts on the Bank of the future. “With a heavy focus on being experiential, Banks must embrace technology to provide customers with experiences similar to those of Amazon and Netflix. Embedded banking and multiple platform convergence will empower customers to transform” says Surajit. He also talks about Future-proof infrastructure and platform technology selection and suggests that the foundations won’t change rapidly. He asserts that the banks can unbundle technology into pieces to enable and achieve those changes. To map the cloud for compliance-driven organizations like banks, He suggests considering multiple areas such as internal policy, regulatory changes, and geopolitics. ” Architecture is the key to enhancing agility and security in banks, as regulatory scrutiny is making banks proactive” says Surajit.
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