DIGITAL THRESHOLD TO REINVENTION

Reinvention means Rethinking!

Today’s financial institutions are rethinking their business to transform and build the digital foundation for future growth. Although “digital & transformation” may sound like an overused term, but this is the only term that will drive the forces of tomorrow in finance.

Today, India, in midst of all global uncertainties, is celebrating the foundation of a Digital India and promoting innovation like never before. In January 2022, India’s Minister of Commerce & Industry, Mr. Piyush Goyal, addressed the young entrepreneurs of India and stated that technology has removed barriers for Indian enterprises and the country is headed towards building a knowledge economy of the future. Enterprises must, therefore, be open to reinventing themselves. They need to rethink the ways to do business and make digital play a role towards core transformation. It’s time to reconsider, recalibrate and re-engineer new avenues to earn revenue.

Regulators in India like the RBI have started to play a significant role in developing the digital infrastructure, one of which is the introduction of Digital Banking Units to support digital banking services. The Cardless Cash Withdrawal is another step which the RBI took to encourage Unified Payments Interface and promote digital payment. These opportunities will influence the adoption of emerging technologies like Cloud, AI, and Cognitive Intelligence and push the industry to the next frontier.

To further discuss this excitement, we invite you, to join IDC and the financial services industry for our virtual conference. Share your “actionable insights” that will assist the industry with their day-to-day roles.