Page 11 - ASR_Forewords

FOREWORD Explore, Enable, Excel

Digital Banking: Goals, Maps and Signposts

IGITAL Banking is the new paradigm that
Doffers considerable benefits to banks in
terms of increasing productivity and profitability.
It is accomplished by leveraging state-of the-art
technology infrastructure to bring about
changes in internal processes and external
interfaces. It is expected to improve the 4Cs –
cost, convenience, control and customer
experience.
It is difficult to define exactly what digital
banking is and to say when any bank has
become totally digital. It is equally difficult for an
individual bank to make an assessment of itself,
draw plans and take necessary steps to attain
the status of a digital bank. It is in this context
that a need has been felt to provide a framework
that can help banks in their efforts to move
towards digital banking. The present framework
presents a holistic way of defining and designing
sequential levels in transforming itself into a
a digital bank. It provides goals, maps and
digital bank. This maturity diagram can be used
signposts in the digital banking journey.
by all banks in order to assess them as to where
The framework comprises various definitions of they stand and steps to proceed further. A few
a digital bank followed by the overview of international cases of digital banking
distinct functions/dimensions of a digital bank. implementation have also been presented to
Then, the building blocks of a digital bank are help banks.
spelt out followed by recommendation of a
The framework is the result of the collaborated
maturity ladder diagram, which identifies
efforts of the group comprising IDRBT research
team, bankers, IT professionals and
consultancy experts. It is expected that all
banks, especially those which are in the process
of setting up their systems, will be immensely
benefited by the framework.

Date: November 16, 2016 (Dr. A. S. Ramasastri)

Place: Hyderabad Director, IDRBT

Digital Banking Framework 01