Known as a technology management and financial solutions veteran with more than 30 years of experience with international financial firms and institutions, Banesh Prabhu is an asset to the region's financial services industry. Before joining Siam Commercial Bank, Prabhu held several senior global roles in operations and technology in Citibank for 23 years where he was responsible for developing strategy and managing the implementation of global delivery and servicing of clients in international markets. In our interview with him recently after his being named one of Asia's top information executives in the financial services industry by IDC Financial Insights, he talked about his aspirations for the bank. Here is the transcript of that interview.
What are your business and ICT priorities?
I keep an eye on two different areas. First is leveraging the changing technology environment and its potential benefit for the financial services [industry] so as to help build the bank for the future. SCB has very good market capitalization, an excellent track record and a first rate team. But we will fulfill the market expectation of our continuing leadership and for us to innovate and capture the opportunity the future holds. The second area is driving greater efficiency in running the bank more effectively.
On building the bank for the future, I see four key priorities. One is a push to further improve the quality of our customer experience at and across all the traditional channels and new digital ones. We have had good success on mobile, and we believe we'd want to push further ahead in many areas on mobility. Second, is tailoring specific transaction and advisory capability to fulfill our customer requirements across their life stages. Third is using data more efficiently. I believe we have made great inroads into building a robust data warehouse; a lot of good quality of data exists but on one hand we need to use that data more efficiently to achieve greater customer personalization in the front end and on the other hand use better data analytics for taking internal business decisions faster and accurately for business performance and for better targeting. The fourth one is on enhancing our risk mitigation tools on the credit and risk side.
What are your greatest challenges?
One challenge that is paramount is developing good skilled and talented people. I think the ability to connect the right combination of IT skills and capabilities with the business expertise is critical.