Panel Discussion: Leveraging Technology Driving Cooperative Banking

Elets 2nd Maharashtra Cooperative Summit 2016 – Panel Discussion: Leveraging Technology Driving Cooperative Banking

Sanjeev Pandey, Senior President- Indian Financial Institutions Banking Group, Yes Bank Limited

“Working in a commercial bank is different than working in a cooperative bank. The ecosystems in which cooperative banks operate is entirely different and the customer segment they deal with also entirely different. The customers they are dealing with have very specific needs.”

Saillesh D Jadhav, Vice Chairman, DMK Jaoli Sahakari Bank

“Deployment of right technology not only allows a customer to start his association with any cooperative bank, but it also allows the bank to retain that customer for long. We need to understand that our customer base is very specific and hence we need tailormade technologies for our customers. Fortunately, technologies, which can meet our requirements, are available.”

Nilay Kapoor, General Manager, Institutional Development Department, NABARD

“14 crore farmers are associated with cooperative banks, of which 4.3 crore farmers borrow from these banks. It is important for all of us to keep in mind that the system is in sync with the technology. The Indian banking system is robust. It has 33 state cooperatives, 370 district cooperative banks and 93,000 primary agricultural societies.”

Ajitkumar L, Assistant General Manager – Treasury, Federal Bank

“Everybody speaks about implementing ATMs, core banking and digital banking. These facilities were given to the customers way back in 2012. But we still find people outside the banks for updating their passbooks. It is not about bringing innovations, the advancements should be brought in sync with the customer demand.”

Swati Mane, Head IT, Apna Bank

“Today, we see that the face of banking is changing due to technology. Technology is an investment that all banks have to consider, as this is going to give returns in the long run. When we are investing on a particular device or a software, we know we are providing service to our customers but we should also think that how can the bank also get benefited with the deployment.”

Omkar Milind Shirhatti, Chief Executive Officer, Karza Technologies Pvt Ltd

“Definitely, the needs and requirements of cooperative banks’ customers are different. Cooperative banks need to list down the problems and issues faced by the employees and the customers and develop solutions accordingly. I wish cooperative banks approach the start-up companies and encourage them to develop technological solutions for their banking operations.”

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