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Infosys Predicts New Tech To Transform Banking Sector In 2014

As Indian firms about-face appear confusing technologies to optimise operations, banks too are abutting the amusing media and advancement appearance to action personalised casework to barter this year, IT casework above Infosys said.

According to Infosys’s cyberbanking trends for 2014, banks will move appear added description of their go-to-customer models. “Simplify, that’s the mantra for banks in 2014. To do so they will brace their business models and embrace technologies from advancement and amusing to billow and big data,” Infosys AVP and Lead Product Manager Finacle Product Strategy Rajashekhara V Maiya told.

This year banks are best acceptable to aces up “the clip in their walk-crawl-run to fresh operational models”, he added. “The acumen for this coercion is to acquisition means to advance advantage and acknowledgment on equity, accommodated chump expectations of personalisation and added good account and to digitise to break alive,” Maiya said.

Infosys expects to see reconfigured business models and renewed focus on addition and chump experience, and arising technologies shall comedy a basic role, he added. In 2014, advancement will abide to agitate the cachet quo in banking, he said abacus that advancement changes the game. “Forget statistics proclaiming smartphone shipments, adaptable subscriptions and the ascent acceptance of adaptable banking. These are given. Mobile/online arcade shows it has the ability to comedy aloft the anima of a alteration society,” he said.

Infosys Predicts New Tech To Transform Banking Sector In 2014

Research says banks can advance profits by up to 20 per cent by abbreviation complexity. Customers, regulators and bankers are ambitious description in banking, he said.

“Banking couture takes off, Google Glass is set to access in 2014. What next? Wearable Windows? Fresh tech, like wearable, will agitate customer cyberbanking and engagement. Some day not too far away, cyberbanking may be as simple as acclimation (Google) Glass to acquaint you your coffer balance,” Maiya said.

Another trend to watch out this year is cyberbanking through app stores. “API platforms will conductor in an era of the custom-built apps. Credit Agricole has created such a belvedere for third affair developers to actualize specific apps requested by the bank’s barter through the CA App Store,” Maiya said. Examples accommodate an app to analyse costs and addition that incorporates gamification. Expect added and added banks and band-aid vendors to accompany the party, he added.