Reserve Bank of India (RBI) deputy governor Anand Sinha asked the bankers to align technology strategy with business strategy in a disciplined way to balance value creation with IT capabilities.
Addressing a two-day seminar on IT governance in banks here on Saturday, Sinha said IT strategy and related processes should be in consonance with business goals as IT governance largely depended on corporate governance.
Among others, technology tools have a role in reducing the cost of banking services, particularly in the rural and unbanked areas in the context of financial inclusion, he said. Adoption of appropriate IT solutions for moving toward acquiring information from the customer- centric perspective along with product-centric perspective would place the banks at a competitive advantage, according to him.
B Sambamurthy, director, Institute for Development and Research in Banking Technology (IDRBT), which organised this first-ever conference for directors of various banks in the country, stressed the need for having good measures, tools, frameworks and guidelines to evaluate IT governance in banks.
Former RBI Governor YV Reddy, who inaugurated the seminar, asked the bankers to draw lessons from the global financial crisis, especially from the perspective of governance.
