6  BIS central bankers’ speeches  (iii)  Technology to be more customer focused  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 database.
It would help in planning product delivery and service at selected/ multiple delivery points, better Customer Relationship Management and building lasting customer relationships which will translate into higher revenues. Technology needs to be more customer focused than employee or vendor focused. In case of glitches, the rectification must be swift to instill faith and confidence in the system.