Banking Frontiers – July 2019

Work Force TRANSFORMATION 2.0

• A BFSI Perspective

W

hile new technologies do
their work, many aspects of
the financial services involve
human hands. Whether it is opening/
closing an account, sanctioning a loan,
chasing a defaulter, cross selling or fixing
a failed transaction – there is a human
touch required at the front end as well as
the back end. The digital transformation
therefore is incomplete without workforce
transformation to serve customers who are
digitally savvy, as well as those who are not.
Workforce transformation calls for agile
and versatile software and hardware. While
software upgrade is an ongoing process,
hardware is expected to last for years and
hence must be chosen thoughtfully. It must
be rugged, reliable, secure and portable.
A recent Forrester Research report has
identified micro PCs as a tool that improves
user productivity and experience among
61%of organizations, indicating that
even the humble PC continues to evolve
alongside the digital revolution.

Ramesh Vijayakumar, VP & Head - Digital
Banking, Lakshmi Vilas Bank
Cognitive learning will be required for
enhancing the thought process and learning
for the employees. Cognitive learning is an
essential requirement for BFSI companies.

Sushil Cherian, Head - IT Projects, TVS
Credit Services
The end user deals with the user

interface and it is more a part of the

application process. There could be variety

of factors on easy application of UI. The

companies face month-end challenges and

most of the system problems happen during

this period. There is need to make simple

innovations to enable designers to visualize

the system before it is built.

A lot of framing needs to be done where

the user journey gets understood and the

focus is on understanding the end user

experience. The user’s input finally makes

or breaks the system, and his perception will

describe whether the system will succeed or

not. There is need for standardization and

use of desktop or mobile device depends

on different use cases. There is difference

between user experiences and we are trying

to bridge this gap.

Rajiv RG, Vice President - Process

Excellence, Madura Microfinance

Business needs to be agile and customer

needs to be serviced fast. Today’s work force

is very much mobile, and BYOD, or Bring

Your Own Device, system is the norm

today. Critical information of companies is

at risk with BYOD unless there is definite

processes to control risks involved. MDM

or Mobile Device Management, software

helps in clear distinction between work

profile and professional profile, and it

restricts copy and download functions of

official data on the personal device. It is the

Banking Frontiers, in association with Dell India, organized an unconference
on workforce transformation for the BFSI industry in Chennai. Highlights of
the discussions:

A panelist making a point

Conference Report