Internet and Mobile Banking will be the Big Changes, Going Forward: Naina Lal Kidwai

Anup Varier

I think the next leg of this mobile telephony banking is going to be an important one for us.

CIO: How does IT help you stay compliant with regulatory mandates?

Naina Lal Kidwai: I think, with respect to keeping pace with regulatory changes, there is very little that constrains you. Sometimes, when you are a part of a larger organization, the decision-making is such that you cannot have a technology in one location, which is different from what you have in others.

This is because it is important to ensure that all the technology platforms are linked together. Also, you can't easily add on something that makes your global systems insecure.

So, in some ways, being a big organization and functioning across geographies poses its own constraints. But it also helps because you can easily import innovations. However, in order to keep all your systems and processes intact, there are multiple layers of checks and balances that you need to go through.

Here's where technology can help. In terms of security, technology definitely plays a big role. The ability to screen and know exactly what is happening is important. Also, the ability to put security walls and ensure that central systems do not get impacted is part of a security technology's evolution process.

I think no one will get it right all the time because technology evolves continuously, and sometimes, you learn things the hard way. But the good news is as long as we can learn about something that didn't work somewhere else in the world we can avoid repeating those mistakes.

Technology must continue to evolve. The worst we could do is implement a change, sit back and relax, only to find out that six months down the line, something else has come out that is far superior to what has been achieved or implemented by us.

CIO: How can organizations avoid falling into this trap?

Naina Lal Kidwai: You need to be able to move ahead, abandon what's not working, and make sure you are always listening to your customer. If we rely only on the technology guys, we will have an excellent system, but it may not be the best for the customer.

However, we can't get our relationship manager to drive a customer-friendly technology initiative which doesn't meet other IT criteria like security, controls, and integration with other IT systems.

We should be able to check what our customers have to say. Having customer engagements in the front-end, and bringing out technology solutions that are customer-centric is vital.

We need to ensure that all the voices on social media platforms get heard, assembled, and due consideration is given to them. You have to keep all channels open for ideas and innovative solutions.

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