From the bank branch to the mobile phone: India’s core banking journey

By L S Subramanian, Board Advisor and Management consultant in Banking, Financial Services & Capital Markets

A retrospective on the technology transformation that quietly changed Indian banking

There was a time when a bank customer in India was, for all practical purposes, a customer of a particular branch.

The account was there. The records were there. The people who knew the customer were there.

Many banking activities required a visit to that branch.

It seems remarkably distant today.

More than a decade ago, I spent several years researching the impact of Core Banking Systems on India’s public-sector banks. My research covered five PSBs and examined the transformation from both perspectives—the customers experiencing the changes and the bank officials working within the changing environment.

The research used structured questionnaires administered to 512 customers and 131 bank employees from the five PSBs, supplemented by discussions with senior bankers.

I was not a...

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