HOW THEY SHOULD GO ABOUT IT

Start engaging with fintech players and focus on things such as internal innovation teams and setting up innovation labs

Hire talent from outside, especially digital officers, data engineers

Learn from private banks/engage with fintechs whose services have already been tested by private sector banks

Tie up with aggregators to use them as the front end

Use big data to facilitate faster processing of a large volume of structured/ unstructured data