Amit Saxena,Deputy Chief Technology Officer -Digital Banking | State Bank of India, Global I.T. Centre explains the growth trajectory of digital banking even as physical footfalls reached a record low.
What are your roles and responsibilities as the Global Deputy CTO of State Bank of India?
I am responsible for digitizing the entire gamut of banking operations. This helps in reducing the cost of operations by leveraging the digital shift and maintaining competitive advantage over peers on digital banking and leveraging the Digital Ecosystem.
Some of my major focus areas are –
⦁ Defining the priorities, objectives and targets that underpins what contributes to delivery of value to business aligned with best practices and standards
⦁ Developing and maintaining overall framework of IT policies, standards and strategies that will empower business and people to deliver on their commitments to the strategy and budgets
⦁ Optimizing and managing the technology network in a manner that it delivers high efficiency with sufficient resilience and yet managing costs effectively
⦁ Identifying needs and ensuring ideal software solutions are developed in a timely manner to help increase operational efficiency and also leading edge products
⦁ Ensuring efficiency in process / operations across the Bank
⦁ As part of business continuity plan, ensuring that there is no failure in business operations and appropriate Disaster Recovery plans are in place and regularly tested for readiness for unforeseen and unexpected events which can impact the business continuity.
⦁ Developing long term plans to sustain and support the business, anticipating the future trends
⦁ Leading strategic insight and overview of business case justifications and ROI analysis for IT spending and initiatives
How are digital technologies helping SBI to tide over the current COVID19 crisis?
We have seen a sweeping trend towards digital and online services such as payments, fund transfers etc. while the footfalls in branches and ATMs have decreased to an all time low during the pandemic. We have scaled up further an already strong framework for digital services to support the high volumes coming onto the digital channels of the Bank during the COVID19 crisis as people have remained indoors for an extended period. These have been unprecedented times and lots of our earlier perceptions about digital banking have changed forever.
How has YONO leveraged on customer insights and what have been the benefits offered?
In YONO, we are in the process of building a Campaign Automation and In-App Analytics framework. This would allow us capture customer insights in real time and provide personalized offers & online assistance they might require to complete business process e.g. loan application.
At present we have customer segments built from specialized data marts to reach out with personalized loan and insurance offers to the customers.
What are the new services rolled out and new features incorporated digitally in SBI during the pandemic?
We have launched Donation to PM Cares, Apollo 24X7 helpline among many others during the pandemic.