Recent Posts by Tushar Chitra

Phygital Banking? By Tushar Chitra, Vice President – Product Strategy & Marketing, Oracle Financial Services & Avinash Swamy, Senior Principal Product Manager, Oracle Financial Services\ There is no dearth of challenges that banks encounter in their quest for growth and profitability. Changing customer expectations, new digital competition, evolving regulations, and technology advancements all confound the business climates that banks operate in. However, a key challenge –...

The banking industry today is one of the most complex ones to operate in. There are several challenges that need to be addressed, for anyone planning an entry into the industry. However, the right technology platform and capabilities coupled with an accelerated launch can help a new entrant not just overcome challenges, but drive growth and success. In several markets around the world, new banking licenses or charters which were scarce until a few years, are now easier...

The financial services industry is being disrupted by unprecedented levels of convergence and connectivity between people, technology, and businesses. The banking value chain is witnessing a paradigm shift towards unparalleled choice, convenience, innovation and collaboration. This shift is driven primarily by three major factors: Demographics: Digital savvy customers increasingly expect innovative services and engaging experiences, anywhere, anytime and instantaneous service....

The world today is witnessing an unprecedented proliferation of digital technologies and connectivity. As the financial services industry evolves amidst this disruption, banks continue to face growing competition not just from peers but also from digital competitors who are leveraging their digital channels and networks to offer competing financial services or act as digital intermediaries in the financial services value chain. Digital savvy customers too increasingly expect...

Millennials comprise about a third of the global population and are massively impacting the way investments function. Since they’ve grown up as digital natives, they are certainly more inclined towards digital products, services, and lifestyle. They believe more in indulgence and direct control over things: no wonder then that trends like peer to peer lending and crowdfunding find greater resonance with this generation. The new modes of social interaction, comfort level with...

Over the years, we have become increasingly dependent on technological advancements. Almost all aspects of our lives - the way we communicate, the way we shop, and the way we bank are all impacted by technological advances. Innovations are underway to improve standards and build consumer friendly products. Take for example the mobile phone industry which has evolved significantly over last 10 years and has come up with innovative ways to make communication simpler, by...

Digital originations are evolving According to a research*, the average number of connected devices owned by a typical digital consumer is 3.64. Digital ways of consumption of products and services is clearly here to stay and it is only going to get more sophisticated in future. As automation becomes imminent across lending products, a digital lending system becomes an obvious choice for the aspiring leaders in the industry. Since the origination process is the first touch...