Core banking has always been glorified record-keepers. That is what they were built for and that is what they are good at.It’s time for the 4th industrial revolution where we relook at what forms the core of the retail banking industry. Spoiler! It’s not the core banking system. The need of the hour is to enhance the channel systems – your interaction with the outside world – this is not restricted to your customers alone but to your whole ecosystem.
Banks have been attempting to develop the channels in their own silos. There have been products which absolutely excel in each of these silos. That’s not enough anymore! Banks need to get an overall visibility of the value they bring to the table for everyone in the ecosystem.How can this be enabled without going for a massive overhaul? Madhur Jain, Head – Pre-Sales, SunTec Business Solutions spoke about this and much more at the event.