The banking industry underwent profound changes of consolidation, with the spread of electronic banking and increased freedom to combine banking with other financial services. This book on innovations in banks states that banks, face challenges in meeting the surging customer expectations, profitability, thinning spreads and employee productivity. These challenges were instrumental in bringing about core banking solutions, centralized processing, distributed servicing and easily scalable open systems to provide choice and convenience. The new game requires new strategies with an accent on innovation for organizational transformation and for achieving world class competitiveness through improved efficiency and reduced operational cost.
Organizations need to be innovative to survive, with ability to constantly create
a new product, service, process or a system, so as to be competitive and
efficient. Banks are no exception to this principle.
This book deals with some such innovations in areas like operations, risk
management, technology, rural lending and microfinance and lastly products and services. |
