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Cloud-based solutions can minimise capital investment of small, mid-sized banks: Sudipta Sen of SAS India

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It's the era of big data and cloud computing and we are witnessing an amalgamation of these technologies in different aspects of life. Even Internet Explorer has its own 'Big Data' institute and has been conducting the 'Big Asia tour' to tap into the talent pool globally. The latest news for the banking sector is the SAS partnership with C-Edge that aims to help small and medium level banks manage analytics and data extensively. This is approved by the Reserve Bank of India. 

Sudipta Sen, Regional Director - South East Asia, Vice Chairman and Board Member, SAS India spoke to dna in an email interview about the latest development. Below are the edited excerpts. 

How are small and medium level banks in India using technology?    

The banking sector was one of the early adopters of analytics in India. Emerging banks and financial institutions have gradually realised the importance of treating data as an asset. In addition, many co-operative banks and regional banks are also embarking on analytics journey. We foresee that, going forward, the adoption of analytics and data management by small and mid-sized banks, will further strengthen. 
 
How is the SAS and C-edge partnership going to help the small and medium bank space?

C-Edge will be leveraging SAS’ global domain expertise in the banking industry and its analytical tools to develop the best in class Automated Data Flow (ADF) solutions for banks in India. ADF solutions will address the mandatory requirements of the RBI of deploying automation in internal data flow to generate reports without manual intervention. 

Investments in IT infrastructure can be a major expense for most small and mid-sized banks. With cloud-based solutions of this nature, small and mid-sized banks can minimise their capital investment in IT and derive better ROI and efficiencies and at the same time, comply with regulatory requirements. 

How has Automated Data Flow (ADF) helped the way small and medium banks process their data today?

ADF is a regulatory requirement. Banks need to comply with this requirement and provide RBI with consistent and correct data. While the big banks are equipped with tools and infrastructure to cater to these needs, many smaller sized banks might not be ready to invest heavily into infrastructure and technology. A hosted solution (cloud-based), can help small and medium banks in complying with ADF requirements and save a lot of time, money and effort. 

What are the challenges in implementing new technologies in small and medium banks? How can these be addressed?

There are three key factors that are critical in determining the success of any analytics program – People, Process and Culture. It is difficult for many small and medium banks to get the right manpower and skills required for driving analytics and data management projects. To add to it, there is a constraint in terms of incurring heavy investments on IT infrastructure. All this impacts the overall mind-set in the organisation and hampers creation of an analytics culture.

A solution to this, would be to encourage easy-to-use, hosted solutions; that helps small and mid-sized banks in reducing the capital investments in IT and at the same time provides a simple interface which helps even non-technical users in utilising analytics for decision making and reporting. This would also help in inculcating an analytical culture across the organisation.      

What global practices can be introduced in the Indian banking space?

The Indian banking industry is quite mature in terms of leveraging technological solutions. Going forward, we will see small and mid-sized banks further utilising analytics and reporting solutions. At the same time, large banks will be keen on exploring technologies such as in-memory analytics and data visualisation to analyse big data in near real-time and further empower business users. 

What is the future of Big Data and Analytics in different sectors like Banking and Financial services?

Data is flowing from every conceivable direction and big data is only growing bigger. Organisations will continue to leverage analytics to derive insights and make the most out of their data. Organisations will be keen on utilising predictive analytics for being prepared for future threats and opportunities and taking optimal business decisions. Big data analytics will further help the Banking and Financial services sector in curbing fraud, managing risk, engaging customers, monitoring social media and driving breakthrough business outcomes. 

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