Technology, the will and desire to make a difference to the lives of the rural poor living on the fringes of financial exclusion are the change agents. Most banks are already on Core Banking Systems (CBS) which covers banking operations pertaining to deposits, withdrawals, credit delivery, back-office operations etc. Banks need to look beyond Core Banking to harness the benefits of technology.
CBS could provide inputs for developing customised products based on customer data base. It would help in planning product delivery and service at multiple/selected delivery points and better Customer Relationship Management and building lasting customer relationships which will translate into higher revenues. Technology needs to be more customer focussed than employee or vendor focussed.