** IDRBT - Institute for Development and Research in Banking Technology **
IDRBT, a banking research institute located at Hyderabad made a few important contributions to Indian Banking Sector in an event held on 02 August 2013. On this particular event, different technological frameworks that will immensely help Banking & Finance Sector have been formulated. BT Excellence Awards (Banking Technology) have also been awarded to recognize and honor the banks that put best use of IT enabled Banking Services.
Event Highlights
1. Center for Information Assurance and Management (CIAM) has been launched
With the advent and rapid expansion of cyber delivery channels, in form of Internet banking, Mobile banking , ATMs etc have made them prone to various risks such as identity theft, hacking attacks, security treats. In-order to focus and carryout R&D activities on above mentioned issues, CIAM has being set-up in collaboration with State University of New York, Buffalo, USA. Its functions also include cyber forensics, mentoring BFSI sector, Employee development programs etc.
Dr. D. Subbarao, Governor of RBI and Visitor, IDRBT, formally launched CIAM on the ocacasion.
2. IDRBT Cloud Security Framework for Indian Banking Sector
IDRBT recognized that cloud computing technology has potential to help banks to cut time and resources in setting, deploying, configuring new systems. It also helps in efficient use of hardware resources and network bandwidth thereby improving quality and availability. Its direct implication is less capital upfront and reduced IT overheads. A framework has been made which essentially covers various topics on Cloud Security such as Cloud Security Management, Data and Information Security, Application and Process Security, IT Infrastructure Security, Physical and Logical Security.
Click here to view/download the Cloud Security Framework, released by Dr. D. Subbarao, Governor of RBI and Visitor, IDRBT.
3. IDRBT Green Banking Framework for Indian Banking Sector
Banks, as Providers of finance have greater responsibility of ensuring that their business clients adopt environment-friendly practices. Incentives have been provided to those who adopt Green Technologies. Reducing paper, using solar power and aiding in environmental protection are part of measures that are being implemented. A Framework that provides the path towards Green Banking for the Indian Banking and Financial Sector has been formulated, which highlights the Processes Guidelines, Products, Services and Strategies, Infrastructure required for Greening Banking.
Click here to view/download the Green Banking Framework, released by Shri Anand Sinha, Deputy Governor, Reserve Bank of India and Chairman, IDRBT.
4. IDRBT Social Media Framework for Indian Banking Sector
"The Generation Y can be tapped more easily at Social Media sites than brick-and-mortar branches"
Rise in social media is an evolution that provides huge opportunities and challenges. Social media platform enables banks to enhance their customer acquisition, engagement, and advocacy. IDRBT Social Media Framework for Indian Banks covers usage of its Social Media, its Applications in banking, its Leverage for Banking, Governance Model for Social Media, Security Implications and a Social Media checklist for banks, etc.
Click to View/download the Social Media Framework, released by Shri G. Padmanabhan, Executive Director, Reserve Bank of India.
5. IDRBT Banking Technology Excellence Awards for the year 2012–13
To encourage quick adoption of technology and to maintain healthy competition among different banks, IDRBT has instituted BT excellence awards in the year 2001. Banks having better use of technology, greater levels of technology absorption, and improved levels of customer service & satisfaction through innovative technological measures have been recognized and rewarded.
Total banks participated: 34; Nominations across different categories: 171; Winners: 24; the detailed list is as follows
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In addition, Shri Pratip Chaudhuri, Chairman, State Bank of India, released a Booklet on 'Technology in Banking' which is a joint effort of IDRBT and Ernst & Young. It captures the developments in Banking Technology and corresponding visible business impact of their initiatives.
To know more about IDRBT, check my relevant post by Clicking here, keep visiting my blog :)
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