Technology in Banking-Insight and Foresight for BTA_2011 ... - IDRBT
Technology in Banking-Insight and Foresight for BTA_2011 ... - IDRBT
Technology in Banking-Insight and Foresight for BTA_2011 ... - IDRBT
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<strong>Technology</strong> <strong>in</strong> Bank<strong>in</strong>g – <strong>Insight</strong> & <strong>Foresight</strong> 4<br />
1. <strong>IDRBT</strong> Bank<strong>in</strong>g <strong>Technology</strong> Awards<br />
1.1. Background<br />
Bank<strong>in</strong>g <strong>Technology</strong> Excellence Awards were <strong>in</strong>stituted <strong>in</strong> the year 2001 with a primary objective of<br />
encourag<strong>in</strong>g <strong>and</strong> recogniz<strong>in</strong>g the excellence <strong>in</strong> implementation of <strong>Technology</strong> <strong>for</strong> better customer<br />
service, operational efficiency <strong>and</strong> expansion of bank<strong>in</strong>g services to the hitherto uncovered sections<br />
of Society. The category of awards has been undergo<strong>in</strong>g changes over the years, <strong>in</strong> view of the focus<br />
of technology implementation at that time <strong>and</strong> the need to recognize <strong>and</strong> encourage a particular<br />
aspect of technology implementation. In the <strong>in</strong>itial period, the Awards were given <strong>for</strong><br />
implementation of branch computerization, Implementation of email Services, INFINET usage <strong>and</strong><br />
applications, ATM networks, <strong>in</strong>ternet bank<strong>in</strong>g, etc. Gradually, the newer categories such as<br />
In<strong>for</strong>mation Security, IT Governance, F<strong>in</strong>ancial Inclusion, Customer Relationship Management etc.,<br />
were covered. Extension of technology to semi-urban <strong>and</strong> rural areas has also been <strong>in</strong> focus <strong>in</strong><br />
several years’ awards.<br />
1.2. Coverage<br />
The banks which are privately owned <strong>and</strong> the Foreign Banks generally had <strong>in</strong>itial advantage <strong>in</strong> view of<br />
the extant guidel<strong>in</strong>es as well as ability to extend the solutions implemented abroad as compared to<br />
the Indian Banks <strong>and</strong> particularly the Public Sector Banks. There<strong>for</strong>e <strong>in</strong> the <strong>in</strong>itial years, the focus of<br />
the awards was only the public sector banks. However, subsequently it was observed that some of<br />
the Public Sector Banks surged ahead <strong>in</strong> implement<strong>in</strong>g technology even <strong>in</strong> the face of constra<strong>in</strong>ts <strong>and</strong><br />
could compete effectively with their private <strong>and</strong> <strong>for</strong>eign peers. In view of this observation <strong>in</strong> the<br />
recent years’, awards selection process did not discrim<strong>in</strong>ate between banks with different ownership<br />
<strong>and</strong> compared their per<strong>for</strong>mance on merit. The only factor that was given consideration was the size<br />
of operations of the banks which determ<strong>in</strong>e the opportunities as well as challenges faced by the<br />
banks <strong>in</strong> implant<strong>in</strong>g technology solutions. Rather than any specific criteria of size, the classification<br />
was based on judgmental discretion of the Jury Panel.<br />
The awards typically sought to recognize the ef<strong>for</strong>ts dur<strong>in</strong>g the year rather than cumulative<br />
achievement over the years. As part of the nom<strong>in</strong>ation process, the banks were asked to provide<br />
detailed <strong>in</strong><strong>for</strong>mation cover<strong>in</strong>g both quantitative as well as qualitative aspects <strong>in</strong> the <strong>for</strong>m of a<br />
detailed questionnaire <strong>for</strong> each award category. The evaluation of these submissions was done<br />
objectively by rank<strong>in</strong>g the quantitative aspects as well as assign<strong>in</strong>g scores to the qualitative aspects<br />
based on the comparative per<strong>for</strong>mance of the banks. For the purpose of evaluation, the statements<br />
made by the banks were taken to be correct on the face value <strong>and</strong> no cross validation of the<br />
responses was carried out by the evaluation teams.<br />
The only exception to this was when the<br />
apparently <strong>in</strong>consistent responses were cross checked with concerned banks <strong>for</strong> clarification. Dur<strong>in</strong>g<br />
<strong>for</strong>mal or <strong>in</strong><strong>for</strong>mal <strong>in</strong>teractions there were suggestions from Jury members over the years about<br />
ask<strong>in</strong>g the short-listed banks to make presentations. This could not be implemented on account of<br />
the difficulty <strong>in</strong> organiz<strong>in</strong>g this activity, <strong>in</strong> view of the busy schedule of the Jury members.<br />
Institute <strong>for</strong> Development & Research<br />
<strong>in</strong> Bank<strong>in</strong>g <strong>Technology</strong>