Recent Posts by Tushar Chitra

Trade is a fundamental element that builds the global economic and financial system. Access to finance for trade activities is still a significant concern, and a whopping 45% of trade finance requests are rejected. The current challenging times are also adding to a higher increase in the global trade finance gap. According to the World Trade Organization, 80 – 90% of world trade relies on trade finance majorly supported by banking institutions. The global trade finance gap is...

By Tushar Chitra, Vice President – Product Strategy & Marketing, Oracle Financial Services and, Venkatramana Bhat  Senior  Principal Product Manager, Oracle Financial Services Since 1986, the London Interbank Offered Rate (LIBOR) has been the most widely used interest rate benchmark across many loans, derivatives, deposits, bonds, securitizations, and other financial transactions, as well as for banks’ funding and capital needs. LIBOR is published across a range of currencies...

By Tushar Chitra, Vice President – Product Strategy & Marketing, Oracle Financial Services and, Swapnil Joshi Senior Manager, Strategy, Oracle Financial Services The asset management industry has been on an upswing over the last decade, and assets under management have doubled when compared to 2008. However, even though asset growth has been significant, operating profit as a percentage of net revenues has remained stagnant. Furthermore, there has been a continuous flux...

By Tushar Chitra, Vice President – Product Strategy & Marketing, Oracle Financial Services and Sujeeth Samrat, Senior Principal Product Manager, Oracle Financial Services Human-Machine Partnership is not new; the industrial revolution was an outcome of this, and banks have used this effectively in industrializing their processes through automation. However, what is new is that the premise of this partnership is evolving, where machines are assuming cognitive skills and are...

By Tushar Chitra, Vice President – Product Strategy & Marketing, Oracle Financial Services and Vijay Dev, Principal Product Manager, Oracle Financial Services How many times have you asked a chatbot to cut the clutter and direct your query to a customer service agent? Or, have you avoided the bot as soon as it lost its vanity? How many of us continue using Alexa Echo or Google Home extensively? Most of us would reply in the negative. The industry has often complained that the...

Lending Disrupted It’s 2020 and today’s consumer is thinking  VR, AI, smart homes and self-driving cars. What were once technology trends are now a reality. However, the lending industry is yet to catch up on these technological advancements. Mired in traditional systems, siloed data, and manual processes the lending business is bogged down by operational inefficiencies and poor customer experiences.  In an age where the financial services industry is shaped by Cloud...

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....