State Bank of India (SBI) Chairman Dinesh Khara said that digitization and new technologies are creating unprecedented disruption in the banking sector and during this time the bank needs to be more prepared to meet the increasing expectations of the customers. Rapid change is happening he said that banks
State Bank of India (SBI) Chairman Dinesh Khara has said that digitization and new technologies are creating unprecedented disruption in the banking sector and during this time the bank needs to be more prepared to meet the increasing expectations of customers.
Rapid change
He said that by adopting the digital revolution banks have reduced their cost and the services offered by them have expanded. Digital innovation is redefining industries and
changing the way businesses operate Khari said at an event at Dun & Bradstreet. Digitization and new technology are creating unprecedented disruption in the banking sector and the rate of change is accelerating.
Banks must be agile and agile
He said that today digitization and digital innovation have become a strategic priority for the banking industry. “Banks need to be agile and agile as technology raises customer
expectations and the regulatory landscape also evolves rapidly to keep pace with technological advancements,” he said. According to Khara, banks have realized that in the wake of digital transformation, it is necessary to keep pace with the rapidly changing ecosystem.
