Innovations in Retail Banking

By Administrator 123erty

Published On: August 11, 2017Categories: Student's Blog0 Comments

SCIT students were honoured to have Mr. Ketan Vanjara, Global Head – Banking, HSBC at the campus
to deliver few insights on “Technology Innovations in Retail Banking and Entrepreneurship”. The
lecture started with some humorous comments by Mr. Ketan, which made the very beginning of the
lecture intriguing. In fact, the friendly approach adopted by him caused students to be responsive to
him and to the questions he asked at the start itself.

Mr. Ketan began with Innovations that are taking place in the banking industry as of now, and how
technology has caused the industry to evolve exponentially, with evolution of Economy by the side.
For banking to change from barter to Institutions with governance, and now, self-governed
concepts, such as Block-Chain. From a broader perspective, he brought it down to bank sector, and
elaborated on the challenges faced by banks currently, due to faster technology evolvement. He also
shared his experience on the competition faced by banks as various FinTech companies and
Telecomm companies enter the banking sector. Technology that helps emerge from the current
scenario for better good, also is a big task for such big firms. This often leads to change in Business
models of particular banks. Mr. Ketan also talked about various barriers faced by other new comers
and non-banking enterprises, such as, Scalability, Regulatory Compliance, and Degree of Trust. These
all favours the banks to be more trusted resource, than the rest. With opportunities that lie in the
banking sector, from innovations to R&D and Analytics, Mr. Ketan led the conversation towards
being more interactive and asked students for their doubts. As surprising as it may sound, Mr. Ketan
who had already made the lecture quite friendly, had students continuously asking him about
certain things related to bank. With this, the session came to an end, and we expect to receive such
Guests at our campus more often to help students know the corporate and market scenario.
We feel gratified to receive Mr. Ketan at our campus to throw lights upon such an interesting topics.
We look forward to receive them again at the campus, and we also hope to have such
knowledgeable sessions soon again at the campus.