For Thane DCCB, a cybersecurity framework and business analytics dashboards are priorities in its path towards a digital transformation. Rajendra Patil, chairman of the bank, tells Banking Frontiers that the bank has adopted and implemented various technological innovations, and “These include launching of TDCC Mobile Passbook app for our customers to get their account information and passbook on their fingertips, implementing Public Financial Management System (PFMS) to streamline inflow of government scheme benefits and subsidies, CKYC management and migrating to Oracle 12C database from Microsoft SQL Server database.” Patil claims adoption of these systems and tools has given tangible benefits.
Patil also maintains that employees of the bank have been very positive about the digital transformation that the bank is preparing to take up as they believe this will save their time and effort. “Naturally, they are upbeat when any new technology implementation is planned and executed,” he adds.
The bank’s IT budget is decided as per the technological innovations the bank would like to go for in the next financial year. “In a growing era of technology, budget keeps changing every year around 15-20%,” says Patil.