Page 87 - ASR_Forewords

EDITORIAL

1
Dr. A. S. Ramasastri

Banks have been adopting various technology solutions for carrying out their
functions. All such technologies leveraged by banks can be broadly considered to
constitute banking technology.

In view of the large scale operations, which were to some extent routine, banks first
deployed the early versions of manual calculators. Gradually, they moved to
electronic calculators and then to various generations of computers. Presently,
banking sector is one of the biggest consumers of computing infrastructure. Similarly,
banks have moved from the days of telegram to today’s digital networks for
communications. Banking is moving closer to its customers through desktops and
mobiles. Instead of banking, it is digital banking today.

Adoption of technology is bringing several benefits to banking; some of them being
– better customer service, operational efficiency and cost optimisation. Such
technology adoption is being made possible by the work carried out by several
individuals and institutions across the globe. While on one hand there have been
advancements in computer, communication and other relevant technologies due to the
research carried out in academic institutions; on the other hand, bankers and
technology companies are working together to ensure that newer technologies are
adopted for better banking. It is the combination of fundamental and applied research
that is pushing banking technology forward.

The Institute for Development and Research in Banking Technology (IDRBT) was
established by Reserve Bank of India over two decades ago. It is a visionary and
forward looking initiative of the central bank of the country to establish a unique
Institute exclusively for research and development in the area of banking technology.

The Institute has been carrying out research and development in the area of technology
useful to banks and other financial institutions in India. Towards this objective, the
Institute has been bringing out various publications that present the latest
technological innovations and developments. The Institute hosts international
conferences every year with participation of renowned researchers from across the
world.

Dr. A. S. Ramasastri ( )
Director, Institute for Development and Research in Banking Technology, Hyderabad, India
e-mail: asramasastri@idrbt.ac.in