Au Small Finance Bank bets big on tech­nol­ogy

Amiya Dixit, CTO of the bank, lists out var­i­ous dig­i­tal plans:

Banking Frontiers - - Better Functioning - Ravi@glo­cal­in­fo­

Ravi Lal­wani: Which dig­i­tal chan­nels are show­ing max­i­mum prom­ise for Au Small Finance Bank?

Amiya Dixit: For us, mo­bile app has def­i­nitely evolved as the most promis­ing chan­nel. We have been able to drive adop­tion of mul­ti­ple applications for em­ploy­ees and cus­tomers.

What dig­i­tal so­lu­tions are pro­posed for SME bank­ing?

We are en­abling our cus­tomers with cor­po­rate in­ter­net bank­ing and mo­bile bank­ing. We are also plan­ning to set up API gate­way, through which cor­po­rates will be able to in­te­grate their sys­tems with our bank­ing applications in a se­cured man­ner. We are of­fer­ing dig­i­tal lend­ing so­lu­tion to SMEs through on­line val­i­da­tions.

What dig­i­tal so­lu­tions are pro­posed for rural and agri bank­ing?

We have a busi­ness cor­re­spon­dent mod­ule im­ple­mented through which we are of­fer­ing bank­ing ser­vices to rural cus­tomers. We also plan to launch SMS bank­ing, phone bank­ing and loan ap­proval on tab dur­ing this fi­nan­cial year for the ben­e­fit of our rural cus­tomers.

What are the plans for mak­ing use of blockchain applications?

We are eval­u­at­ing some of the non­fi­nan­cial use cases for blockchain. How­ever, we have not fi­nal­ized as we would wish to take the views of the reg­u­la­tors on this.

Any plans for chat­bots and use of AI?

We are in the process of rolling out chat­bots backed by AI pri­mar­ily for cus­tomer ser­vic­ing and cus­tomer self­ser­vice mod­ules. This will be launched on our web­site, in­ter­net bank­ing and mo­bile bank­ing chan­nels

Which dig­i­tal chan­nels sup­port re­gional lan­guages?

Cur­rently, our web­site and IVR sys­tem sup­port mul­ti­lin­gual func­tion­al­ity.

Are you us­ing the cloud for dig­i­tal applications and chan­nels?

Yes. Our applications like loan orig­i­na­tion plat­form, work­force man­age­ment so­lu­tion and col­lab­o­ra­tion plat­form for em­ploy­ees are hosted on the cloud.

Are you us­ing ro­botic process au­toma­tion at the back end?

RPA is def­i­nitely one of ini­tia­tives in our roadmap. We have been able to identify a cou­ple of use cases where this needs to be pi­loted first.

Have you part­nered with any fin­techs?

We have started work­ing with a few fin­techs hav­ing niche ex­per­tise in their re­spec­tive do­mains. This fi­nan­cial year, we plan to ac­tively en­gage with fin­techs in pay­ments, lend­ing and se­cu­ri­ties do­mains.

How do you make use of so­cial me­dia?

We are us­ing Google and Face­book ser­vices for so­cial me­dia mar­ket­ing.

What has the bank done for dig­i­tal en­able­ment of part­ner­ships with mu­tual funds and in­sur­ance companies?

We have pro­vided a dig­i­tal plat­form for on­board­ing our cus­tomers for their mu­tual fund and in­sur­ance re­quire­ments. We are now plan­ning to pro­vide port­fo­lio anal­y­sis on our net bank­ing site.

What are the plans for API bank­ing?

We are in the process of im­ple­ment­ing back­end in­fra­struc­ture and applications that are needed to se­curely ex­pose bank­ing applications to the ex­ter­nal ecosys­tem. We plan to of­fer API bank­ing by the end of the sec­ond quar­ter.

How do you of­fer train­ing for em­ploy­ees han­dling dig­i­tal oper­a­tions?

Ef­fec­tively, we have kept our focus on user ex­pe­ri­ence and user in­ter­face for all the applications that we have de­vel­oped. This is done in or­der to elim­i­nate the need for train­ing of our em­ploy­ees to use these applications in their daily in­ter­ac­tions with the cus­tomers. We have a team that han­dles both IT and dig­i­tal in the or­ga­ni­za­tion. Nearly 20% of this team is in­volved in dig­i­tal ini­tia­tives. In ad­di­tion, we have an end to end Learning Man­age­ment Sys­tem which of­fers dig­i­tal courses and train­ing to all the em­ploy­ees.

What are the plans to im­prove se­cu­rity fea­tures?

We are plan­ning to im­ple­ment se­cu­rity sys­tems that can un­der­take tasks like block­ing of cards upon re­quest from the cus­tomers. Be­sides, all our sys­tems -CBS, CRM, LOS and HRMS are dig­i­tally en­abled. We in­tend to use voice and im­age based sys­tem in our cus­tomer in­ter­ac­tion mod­ules in or­der to help peo­ple who are less lit­er­ate.

Amiya Dixit em­pha­sizes that the focus while de­vel­op­ing applications has al­ways been on user ex­pe­ri­ence and user in­ter­face and this is to elim­i­nate the need for train­ing of the bank’s em­ploy­ees

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