How to be a truly digital bank

Rajashekara Maiya, Associate Vice President, Infosys

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Consumers today are experiencing accelerated digital lives, supported in particular by rapid internet penetration, increasing smartphone adoption and an ever expanding network of networks. In this atmosphere, banks face a fundamental challenge: how to sustain and grow their business in the face of increasing digital disruption and new customer demands. Research indicates, however, that close to 70 per cent of banks around the world do not have a systematic digital strategy. This article proposes that for banks to sustain and thrive, they will need to re-imagine banking and embrace a truly digital persona, a concept which is itself unclear to many. The article explores what exactly constitutes truly digital and proposes a roadmap for banks to achieve the same.


Keywords: digital, digital banking, blockchain, banking analytics, banking transformation, core banking, omnichannel


Rajashekara Maiya is Associate Vice President and Head, Finacle Product Strategy for Infosys. He is responsible for charting the product strategy of Finacle, the flagship banking solution of Infosys. This role includes responsibility for, defining the detailed product roadmap, strategic acquisition and alliance partner identification and management, client engagement and representation of the company with external stakeholders such as analysts and media. Maiya specialises in risk management, regulations and compliance, retail and corporate banking, blockchain, and omnichannel banking and has been quoted on these and other topics in publications such as Forbes, The Banker, Banking Technology and Economic Times.

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