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Digital Transformation

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Digital transformation is the integration of digital technology into all areas of a business, fundamentally changing how you operate and deliver value to customers. It is also a cultural change that requires organizations to continually challenge the status quo, experiment, and get comfortable with failure.

Today organizations are in different places on the road to digital transformation. One of the hardest questions in digital transformation is how to get over the initial humps from vision to execution. It creates angst – many CIOs and organizations think they lag far behind their peers on transformation, when that isn’t the case.

Because digital transformation will look different for every company, it can be hard to pinpoint a definition that applies to all. It is a cultural change that requires organizations to continually challenge the status quo, experiment often, and get comfortable with failure. This sometimes means walking away from long-standing business processes that companies were built upon in favor of relatively new practices that are still being defined. 

Although digital transformation will vary widely based on organization’s specific challenges and demands, there are a few constants and common themes among existing case studies and published frameworks that all business and technology leaders should consider as they embark on digital transformation. For instance, these digital transformation elements are often cited – customer experience, operational agility, culture and leadership, workforce enablement, digital technology integration.

An important element of digital transformation is, of course, technology. But often, it is more about shedding outdated processes and legacy technology than it is about adopting new tech. It is also about enabling innovation. To prove the success of digital transformation efforts, leaders need to quantify the return on investment.

A business may take on digital transformation for several reasons. In the wake of the pandemic, an organization’s ability to adapt quickly to supply chain disruptions, time to market pressures, and rapidly changing customer expectations has become critical. 

This template will be primarily useful for IT companies. You can prepare information for the client about the benefits of your new innovative digital projects. For example, you can detail the stages of technology adoption and the benefits at each stage.

Also, this template will be useful for directors of startups in preparation for the meeting with investors. You can present your digital product, describe the benefits and timing of the implementation of this technology. University professors can use this template to prepare courses on digital technology or business process improvement in manufacturing.

Engineers can use the slides in this template to prepare an enterprise-wide or shop-floor digital need report. Also, the slides of this template can be used by crisis managers when preparing a strategy to increase the company’s profitability.

Digital Transformation Template is a stylish and professional template that contains five slides. All slides in the template can be easily customized to suit your corporate color requirements. Our Digital Transformation template will be useful for startup executives and digital professionals. This template’s slides will be a great addition to your professional presentation collection, so download today!

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The Essential Components of Digital Transformation

  • Tomas Chamorro-Premuzic

presentation about digitalization

It’s about so much more than your technology.

It’s problematic when companies decide to embark on a digital transformation agenda without having a clear definition, let alone vision, for what it means. The fundamental meaning of transformation is not about replacing old technologies with new ones, or capturing high volumes of data, or hiring an army of data scientists, or trying to copy some of the things Google or Amazon do. In fact, the essence of digital transformation is to become a data-driven organization, ensuring that key decisions, actions, and processes are strongly influenced by data-driven insights, rather than by human intuition. In other words, you will only transform when you have managed to change how people behave, and how things are done in your organization.

The digital revolution forced every organization to reinvent itself, or at least rethink how it goes about doing business. Most large companies have invested substantial cash in what is generally labelled “digital transformation.” While those investments are projected to top $6.8 trillion by 2023, they’re often made without seeing clear benefits or ROI. Although these failures have multiple causes, they are generally the result of underestimating the various steps or stages required to successfully execute a transformation agenda.

  • Tomas Chamorro-Premuzic is the Chief Innovation Officer at ManpowerGroup, a professor of business psychology at University College London and at Columbia University, co-founder of  deepersignals.com , and an associate at Harvard’s Entrepreneurial Finance Lab. He is the author of  Why Do So Many Incompetent Men Become Leaders? (and How to Fix It ) , upon which his  TEDx talk  was based. His latest book is I, Human: AI, Automation, and the Quest to Reclaim What Makes Us Unique.   Find him at  www.drtomas.com . drtcp

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Business digitalization powerpoint presentation slides

Gain new experience and design innovative business models with the aid of our topic-specific Business Digitalization PowerPoint Presentation Slides. By using this visually-appealing business innovation PPT layout, you can explain the importance of adopting new technologies to existing infrastructure. Highlight the core elements of business digitalization such as performance management, process digitization, top-line growth, customer understanding, customer touch points, and digitally modified business. Use this presentation template to explain the barriers of digital transformation and what are the measures should be taken to resolve them. Employ our creatively designed technology transformation PPT slide to create a roadmap that consists of assessment, opportunity scan, commitment, business-cases, and many more. Describe the overall budget that will need to transform the offline business into a complete and transformed digital business. Take advantage of this eye-catching online business change PowerPoint theme to mention the steps that help to improve the customer service experience. Download our ready-to-use business digitalization PowerPoint presentation template and increase the lead generation of your organization.

Business digitalization powerpoint presentation slides

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Presenting Business Digitalization PowerPoint Presentation Slides that have been designed by our experts for your convenience. Customize the colors, fonts, font types, and font size of the template as per your requirements. You can open and save your template into various formats like PDF, JPG, and PNG. It is compatible with Google Slides which makes it easily accessible at once. The template is readily available in both 4:3 and 16:9 aspect ratio.

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Content of this Powerpoint Presentation

Slide 1 : This slide introduces Business Digitalization. State your Company name and begin. Slide 2 : This slide displays Content of the presentation contaning- Why it is Needed, Core Elements, Barriers to Digital Transformation, Ways to Achieve Digital Transformation, Transformation Roadmap, Task Distribution, Transformation Budget, Value Addition from Transformation. Slide 3 : This slide describes Why it is Needed. Slide 4 : This slide presents Core Elements containing- Digital Transformation, Customer Understanding, Customer Touch Points, Digitally Modified Business, Performance Management, Process Digitization. Slide 5 : This slide showcases Barriers to Digital Transformation. Slide 6 : This slide depicts Ways to Achieve Digital Transformation. Slide 7 : This slide depicts Transformation Roadmap. Slide 8 : This slide showcases Task Distribution. Slide 9 : This slide depicts Transformation Budget Slide 10 : This slide displays Value Addition from Transformation. Slide 11 : This slide is titled as Additional Slides for moving forward. Slide 12 : This is Business Digitalization Icons Slide. Slide 13 : This is Our Mission slide with Vision, Mission and Goals. Slide 14 : This is Our Team slide with names and designations. Slide 15 : This slide displays Mind Map for representing entities. Slide 16 : This slide represents SWOT Analysis with Strengths, Weakness, Opportunity and Threat. Slide 17 : This is About Us slide to showcase Company specifications. Slide 18 : This is Financial slide. Showcase finance related stuff here. Slide 19 : This slide displays Timeline process. Slide 20 : This is Thank You slide with Address, Contact number and Email address.

Business digitalization powerpoint presentation slides with all 20 slides:

Use our Business Digitalization Powerpoint Presentation Slides to effectively help you save your valuable time. They are readymade to fit into any presentation structure.

Business digitalization powerpoint presentation slides

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Business Digitalization Meeting

Business digitalization meeting presentation, premium google slides theme and powerpoint template.

Step into the future of business digitalization with this cutting-edge Google Slides and PowerPoint template! This layout is designed to inspire your team and elevate your presentations with sleek, modern illustrations in an eye-catching isometric style. With invaluable resources like a customizable roadmap, world map, organized table, and insightful timeline, your next meeting is sure to be a success. Impress your colleagues and clients alike by taking your digitalization strategy to the next level. The future of business is waiting for you —are you ready to seize it?

Features of this template

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Digitization - PowerPoint PPT Presentation

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  • Digitization

Production 13,500 Sq. Ft. Digitization. Micropublishing. Warehouse 24,500 Sq. Ft. ... 13,483 square feet dedicated to micrographic and digital conversion ... – PowerPoint PPT presentation

  • Based in St. Marys County, MD, our lab has been providing high quality conversion services since 1985.
  • Production 13,500 Sq. Ft.
  • Micropublishing
  • Warehouse 24,500 Sq. Ft.
  • Digitization isnt just scanning
  • its creating an accurate digital representation of the original analog content.
  • Digitization demands high quality and value.
  • digitized content must be preserved in a format that meets the expectations for quality, usability, compatibility, and longevity.
  • If the original source documents are lost or destroyed, will the digital version be suitable as a replacement?
  • The digital contents quality reflects on the owner.
  • Digital content should add value to its analog counterpart.
  • Digitization is a process, not an event.
  • What file format PDF, TIFF, JPEG, etc?
  • What resolution 200 dpi, 300 dpi, etc.?
  • Do you require any form of image cleanup and enhancement?
  • What quality level is required? Will you OCR the images or just send them out for keying?
  • How much material will be scanned?
  • What is your turnaround requirement?
  • Average size of the documents (W x H x Thickness)?
  • Does the size vary greatly or are they fairly consistent?
  • Are the documents rare and irreplaceable?
  • Are the bindings fragile and subject to cracking apart?
  • What is the condition of the pages thin, brittle, yellowed, bleed-through?
  • Average pages per document?
  • Are sample documents available for a pilot?
  • Document Control Document inventory and organization
  • Image Capture
  • Customer defines reasonable quality expectations
  • 300-600 DPI in TIFF, JPEG
  • Image Cleanup rotation, de-skew, cropping
  • Image Enhancement brightness, contrast, edge sharpening, bitonal, grayscale, color conversion, text centering, de-speckling
  • Image Segmentation retain document boundaries and capture metadata within the document
  • Industry leading OCR engines
  • "Voting" OCR technology
  • Searchable PDFs
  • Optimized with lossless or lossy compression
  • Fast Web View enabled
  • Metadata Provide descriptive, technical, and structural metadata in XML format
  • Security at LexisNexis
  • Proximity badge access for all employees.
  • Restricted access in secure areas of the building.
  • 24x7 security monitoring.
  • Micrographic Archiving and Reproduction
  • Capture source documents on silver halide microfilm (camera master)
  • Produce print master from camera master
  • Produce customer orders from print master
  • Archive camera masters on-site in secured vault.
  • Archive duplicate print masters at Iron Mountain.
  • Maintain an inventory of the print masters stored at Iron Mountain.
  • The process and quality are customized and driven by the customers content.
  • LexisNexis uses State-of-the-Art equipment to produce the quality that meets our customers needs.
  • LexisNexis uses innovative imaging software technology.
  • Our people make the difference. LexisNexis assigns a dedicated team to your project who are knowledgeable, responsive, and flexible.
  • LexisNexis utilizes Lean Manufacturing principles for developing a workflow process that delivers the highest quality, value, and efficiency.
  • Our experience and quality are our reputation.
  • Decades of experience filming and scanning historic and rare collections
  • NARA, Senate Library, Library of Congress, Supreme Court RB
  • Jenkins Law Library PA Court System RB
  • LexisNexis OSD project
  • Presidential Libraries FDR, Eisenhower, JFK, LBJ, Carter.
  • Thomas Edison Papers Parts 1 though 5, Clara Barton Papers, and the Garrison Family Papers
  • Digitization of US Serial Set collection, CRDC, and Congressional Hearings
  • The California, MD facility is also a Kodak Certified Micrographic Lab.
  • Safe for Books Pages
  • Smart Cradle optimizespositioning for
  • Minimal binding stress
  • Keeps pages in same position
  • Sure Turn single page pick-up, gentler than the human hand
  • No page bending
  • Turns on binding
  • Automated and manual page turning in one system
  • For loose or torn pages
  • For foldouts
  • 300-450 dpi
  • Dual processors
  • RoHS compliant
  • 2,400 pages per hour
  • Book Sizes From 115 x 180mm to 260 x 350mm
  • Up to 100mm thick
  • Jim Rumple has nearly 40 years experience in the publishing industry. His career includes 30 years with University Microfilms, Inc. of Ann Arbor, MI, a leader in micropublishing periodicals, newspapers, doctoral dissertations, and rare book collections. His progressively increasing responsibilities included Production Control Manager, Operations Manager, and Manager of Advanced Document Manufacturing.
  • In 1999 Jim joined LexisNexis (Congressional Information Service) as Vice President of Imaging and Manufacturing at the California, MD micrographic and imaging lab where he is responsible for the micrographic, distribution, and digitization operations. He has worked to transform the operation from analog photography to digital imaging and emphasizes lean manufacturing methodologies. The St. Marys plant has digitized several microfiche collections including US Serial Set (10M pages), Congressional Record, and Congressional Hearings (25M pages).
  • Jim earned a BS degree from Eastern Michigan University in 1992. He holds current memberships in AIIM, and The Association for Manufacturing Excellence (AME)
  • Lukman Bazarahs remarkable 29-year career in microfilm and digital imaging continues to keep LexisNexis as a leading force in the preservation of historical documents and digital imaging sector of the information technology industry.
  • Beginning his career as a Camera Operator in 1979, he worked his way through every aspect of Micrographic technology while gaining vast experience and knowledge of all aspects of leading edge information and digitization technologies.
  • As the Senior Manager of Operations, Lukman oversees a multi-million dollar revenue stream while leading the operations of camera mastering, electronic imaging, duplication, finishing shipping, and plant facilities.
  • A certified Microsoft recipient and alumnus of CSM, Lukman is a continuous change agent who is a member of AIIM and the Association for Manufacturing Excellence that challenges his managers to excel across current industry trends and brings proven successes to the LexisNexis Academic team.
  • Micah Calloway is a career leadership professional dedicated to introducing and applying the latest technologies of image digitization and incorporating lean initiatives to maximize organizational and workflow efficiency while providing solutions to customers needs. Micah has over 10 years of information technology experience with seven years directly associated to digitization, data archiving, image capture, image processing and quality control, optical character recognition, and information management.
  • Micah has led the digitization production of many successful LexisNexis online products. His proven vision and versatility led the way to digitizing approximately 10 million pages for the U.S. Serial Set Digital Collection and 4 million pages for the Congressional Research Digital Collection. In 2007, Micahs department digitized 18 million pages for the Congressional Hearings Digital Collection with an averaged 92 OCR confidence level. His team continues to digitize new content for both Congressional products and has been partnered with the Total Practice Solutions group for the last two years to digitize content for Lexis.com.
  • A Microsoft Certified Systems Administrator and alumnus of CSM, Micah is a continuous change leader who stays ahead of current industry trends and brings proven successes to the LexisNexis Academic team. Micah is a member of AIIM and the Association for Manufacturing Excellence.
  • Janet Speaker is a career leadership professional and advocate of a lean and six-sigma environment with the vision, enthusiasm, and dedication to continuous workflow improvements by inspiring and teaching teams the mastery of problem-solving and, the art of versatility and positive change. As a the Camera Mastering department leader for manufacturing and operations management, she has proven expertise in Lean methodologies, Kaizen initiatives, strategic planning, cycle time reductions, personnel management, and performance assessments. Janet is a high-energy individual who is committed to providing a quality product with efficiency when preserving sensitive historical documents and, digitizing new projects.
  • During her time with LexisNexis, Janet has developed, implemented and streamlined processes and procedures that has facilitated noticeable improvements and allowed for additional projects. Last year, Janets team was credited with producing over 35 historical preservation products (Thomas Edison, Special Studies- Iraq, African Americans in the Military) and over 58,000 new print masters.
  • An alumnus of the University of Maryland University College at College Park, Janet holds her Bachelor of Science in Criminology. She is a member of the AIIM and Association for Manufacturing Excellence organizations. She has over 18 years of leadership experience and continues to use lean principles to promote growth and introduce new technology.

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international journal of trend in international

Digitalization in Banking Sector

Nov 08, 2019

70 likes | 94 Views

In order to improve the customer service, book keeping and MIS reporting, the need for computerization was felt in the Indian banking sector in late 1980s. Reserve Bank of India set up a Committee headed by Dr. C. Rangarajan on computerization in banks in 1988. Conversion of data into a digital format with the adoption of technology is called as digitization. By implementation of digitalization, banks can provide enriched customer services. This provides convenience to customers and helps in saving time. Digitalization decreases human error and thus builds customer reliability. A new wave of technology is revolutionizing the way customers engage with their finances. From social to mobile capabilities, banks have to rethink the way they do business to deliver a better customer experience and remain competitive. The recent introduction of open banking and the Payments Services Directive 2 PSD2 regulation is hastening this transformation by placing power in the hands of customers. Banks must now allow customers to share their financial data, such as spending habits and regular payments, with authorized third party providers if customers wish to do so. In addition, until the past few years, banks were not visualizing the tremendous shift in consumer behavior that occurred as a result of the millennial generation now become the largest consumers of financial products. With the increasing usage of smart phones, digitization of banking sector is predictable to catch up the increasing expectations of the world. It indeed reduced human errors and increased convenience. Now, cyber threats are on the rise hence, banks must be very vigilant and should be prepared to handle cyber attacks. Mrs Jyoti Suraj Harchekar "Digitalization in Banking Sector" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | International Conference on Digital Economy and its Impact on Business and Industry , October 2018, URL: https://www.ijtsrd.com/papers/ijtsrd18681.pdf Paper URL: http://www.ijtsrd.com/management/marketing-management/18681/digitalization-in-banking-sector/mrs-jyoti-suraj-harchekar<br>

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International Journal of Trend in International Open Access Journal International Open Access Journal | www.ijtsrd.com International Journal of Trend in Scientific Research and Development (IJTSRD) Research and Development (IJTSRD) www.ijtsrd.com ISSN No: 2456 INTERNATIONAL CON ITS IMPACT ON BUSINESS AND Organised By: V. P. Institute of Management Studies & Research, Sangli Organised By: V. P. Institute of Management Studies & Research, Sangli Organised By: V. P. Institute of Management Studies & Research, Sangli ISSN No: 2456 - 6470 | Conference Issue – ICDEBI INTERNATIONAL CONFERENCE ON DIGITAL ECONOMY AND TS IMPACT ON BUSINESS AND INDUSTRY ICDEBI-2018 FERENCE ON DIGITAL ECONOMY AND INDUSTRY Digitalization Digitalization in Banking Sector Mrs Jyoti Suraj Harchekar Tilak Maharashtra Vidyapeeth, Pune, Maharashtra Assistant Professor, Tilak Maharashtra Vidyapeeth, Pune Maharashtra, India ABSTRACT In order to improve the customer service, book keeping and MIS reporting, computerization was felt in the Indian banking sector in late 1980s. Reserve Bank of India set up a Committee headed by Dr. C. Rangarajan on computerization in banks in 1988. KEYWORDS: Online Banking Digitalization, Digitalization, Internet Internet Banking, Banking, In order to improve the customer service, book- reporting, computerization was felt in the Indian banking sector in late 1980s. Reserve Bank of India set up a Committee headed by Dr. C. Rangarajan on the the need need for for I. Digitalization is the process of transforming information into a digital format, in which the information is organized into representation of an document or signal (usually an generating a series of numbers that describe a discrete set of its points or called digital representation a digital image, for the object, and the signal. The digitized data is numbers, which simplify computer processing and other operations. Digitizing simply means the transformation of analog source material into a numerical format; the decimal system that can be used instead. that can be used instead. INTRODUCTION Digitalization is the process of transforming format, in which the information is organized into bits. The result is the representation of an (usually an analog signal) by generating a series of numbers that describe a object, object, image, sound, Conversion of data into a digital format with the adoption of technology is called as digitization. By implementation of digitalization, banks can provide enriched customer services. convenience to customers and helps in saving time. Digitalization decreases human error and thus builds customer reliability. A new wave of technology is revolutionizing the way customers engage with their finances. From social to mobile capabilities, banks have to rethink the way they do business to deliver a better customer experience and remain competitive. The recent introduction of open banking and the Payments Services Directive 2 (PSD2) regulation is hastening this transformation by placing power in the hands of customers. Banks must now allow customers to share their financial data, such as spending habits and regular payments, with authorized third providers if customers wish to do so. Conversion of data into a digital format with the n of technology is called as digitization. By implementation of digitalization, banks can provide enriched customer services. convenience to customers and helps in saving time. Digitalization decreases human error and thus builds iability. A new wave of technology is revolutionizing the way customers engage with their finances. From social to mobile capabilities, banks have to rethink the way they do business to deliver a better customer experience and remain competitive. t introduction of open banking and the Payments Services Directive 2 (PSD2) regulation is hastening this transformation by placing power in the hands of customers. Banks must now allow customers to share their financial data, such as spending habits gular payments, with authorized third-party samples. The result is This This provides provides digital representation or, more precisely, , for the object, and digital form, for the signal. The digitized data is in the form of binary , which simplify computer processing and other operations. Digitizing simply means the transformation of analog source material into a decimal or any other number Digitization is of vital significance to data processing, storage and transmission, because it "allows information of all kinds in all formats to be carried with the same efficiency and also intermingled”. Unlike analog data, which typically oss of quality each time it is copied or transmitted, digital data can, be transmitted with Digitization is of vital significance to data processing, storage and transmission, because it "allows information of all kinds in all formats to be carried with the same efficiency and also intermingled”. Unlike analog data, which typically suffers some loss of quality each time it is copied or transmitted, digital data can, be transmitted with absolutely no deprivation. In addition, until the past few years, banks were not visualizing the tremendous shift in consumer behavior that occurred as a result of the millennial generation now become the largest consumers of financial products. With the increasing usage of smart digitization of banking sector is predictable to catch up the increasing expectations of the world. It indeed reduced human errors and increased convenience. Now, cyber threats are on the rise hence, banks must be very vigilant and should be prepared to handle cyber-attacks. In addition, until the past few years, banks were not visualizing the tremendous shift in consumer behavior that occurred as a result of the millennial generation the largest consumers of financial products. With the increasing usage of smart-phones, digitization of banking sector is predictable to catch up the increasing expectations of the world. It indeed reduced human errors and increased convenience. r threats are on the rise hence, banks must be very vigilant and should be prepared to handle Diagram 1: 5 Key Banking Technology Trends Diagram 1: 5 Key Banking Technology Trends @ IJTSRD | Available Online @ www.ijtsrd.com www.ijtsrd.com | Conference Issue: ICDEBI-2018 | Oct 2018 Page: 103

International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101 Information Technology was implemented by banks initially with the introduction of standalo voyaged to Local Area connectivity. Further, Core Banking platform was adopted by banks. Thus branch banking changed to bank banking. Core Banking Solution (CBS) facilitated banks to increase the comfort feature to the customers as a encouraging step towards improving customer accessibility through anywhere and anytime banking. Different Core banking platforms such as Finacle designed by Infosys, BaNCS by TCS, by i-flex, gained popularity. In 1991-92, with the opening of the economy, the process of Computerization gained a leap. Several commercial banks started moving towards digital customer services to remain economical and significant in the race. Dan Jones, partner and head of Capco’s UK Digital practice, says convenience, speed and flexibility are no longer considered attractive add-ons, but have become a standard expectation of the rapidly changing customer-bank relationship. According to Mr Jones, successful organizations will be those that can keep pace with customer needs and demands, and implant appropriate services into the wider ecosystem of digital products. II. Research Methodology:- Research paper is based on secondary data obtained from various sources like 1.Earlier paper published. 2.Websites 3.Articles published in Research magazines. 4.Articles appeared in news paper. Current status in the Digital Space Indian Government is aggressively promoting digital transactions. Some of the significant steps for innovation in the Payment Systems domain are the launch of United Payments Interface (UPI) and Bharat Interface for Money (BHIM) by National Payments Corporation of India (NPCI). UPI is a mobile interface where people can make immediate funds transfer between accounts in different banks on the basis of cybernetic address without mentioning the bank account. Today banks aim to provide fast, accurate and quality banking experience to their accurate and quality banking experience to their Information Technology was implemented by banks initially with the introduction of standalone PCs and voyaged to Local Area connectivity. Further, Core Banking platform was adopted by banks. Thus branch banking changed to bank banking. Core Banking Solution (CBS) facilitated banks to increase the comfort feature to a encouraging step towards improving customer accessibility through anywhere customers. Today, the topmost agenda for all the customers. Today, the topmost agenda for all the banks in India is digitization. Difference between Online and For the most part, these two words are alternatives. But, online banking can be defined a bit more narrowly as- online banking primarily emphases on money transfers, bill pay, remote deposits, and basic online management of accounts. Other synonyms fo online banking include virtual banking, internet banking, and e-banking. So, online banking focuses on digitizing the “core” features of banking, but digital banking incorporates digitizing every program and activity undertaken by financial institutions and their customers. Banks play a significant role in our daily lives. For countless people, at least a single financial transaction is been done in a single day. Thus banks always try to implement latest technologies to enhance customer experience. Digitization is not a industry, rather it is certain because every industry is being digitized and banking sector is no exemption. .Mobile banking is increasing at a fast pace more than online banking. ADVANTAGES OF BANKING:- ?Reduction of costs for banks and customers as well by using cashless transactions, ATMs, etc. ?With more digital data available with banks, they can take data-driven vibrant decisions digital analytics. This benefits both customers and banks. ?Number of customers will be amplified because of the increased convenience of banking. ?Digitalization decreases human error. ?Need of handling large amounts of cash will be reduced. ?Rural and urban gap will be eliminated. ?Fake currency threat will be increasing cashless transactions. DISADVANTAGES OF DIG BANKING:- ?Digitalization shrinks the effort of employees and hence results in loss of jobs. ?Some bank branches may conclude to exist with the increasing use of online ban ?Banks will be more vulnerable to Banks will be more vulnerable to cyber-attacks. Network Network (LAN) (LAN) and Digital Banking For the most part, these two words are alternatives. But, online banking can be defined a bit more online banking primarily emphases on money transfers, bill pay, remote deposits, and basic online management of accounts. Other synonyms for online banking include virtual banking, internet So, online banking focuses on digitizing the “core” features of banking, but digital banking incorporates digitizing every program and activity undertaken by financial and their customers. Different Core banking platforms such as Finacle designed by Infosys, BaNCS by TCS, FLEXCUBE of the economy, the process of Computerization gained a leap. Several commercial banks started moving towards digital customer services to remain economical and Banks play a significant role in our daily lives. For countless people, at least a single financial transaction Thus banks always try to implement latest technologies to enhance customer ization is not a choice for banking industry, rather it is certain because every industry is being digitized and banking sector is no exemption. is increasing at a fast pace more than Dan Jones, partner and head of Capco’s UK Digital enience, speed and flexibility are ons, but have become a standard expectation of the rapidly bank relationship. According to Mr Jones, successful organizations will be those that tomer needs and demands, and implant appropriate services into the wider ecosystem ADVANTAGES OF DIGITI DIGITIZATION IN for banks and customers as well by using cashless transactions, ATMs, etc. With more digital data available with banks, they driven vibrant decisions by using digital analytics. This benefits both customers and Research paper is based on secondary data obtained er of customers will be amplified for banks convenience of banking. decreases human error. Need of handling large amounts of cash will be published in Research magazines. Rural and urban gap will be eliminated. Indian Government is aggressively promoting digital transactions. Some of the significant steps for innovation in the Payment Systems domain are the ch of United Payments Interface (UPI) and Bharat Interface for Money (BHIM) by National Payments Corporation of India (NPCI). UPI is a mobile interface where people can make immediate funds transfer between accounts in different banks on the netic address without mentioning the bank account. Today banks aim to provide fast, will be reduced, with the increasing cashless transactions. DISADVANTAGES OF DIGITIZATION IN Digitalization shrinks the effort of employees and loss of jobs. Some bank branches may conclude to exist with the increasing use of online banking. @ IJTSRD | Available Online @ www.ijtsrd.com www.ijtsrd.com | Conference Issue: ICDEBI-2018 | Oct 2018 Page: 104

International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101 ?No one can hide crores of rupees in banks and just act middle class. Privacy may have to be compromised. III. TECHNOLOGICAL DEVELOPMENTS IN INDIAN BANKING Digital Collaboration We will be part of our not-so-distant future when we expect driverless cars and robots, it should be equally direct for us to visualize a future banking system with its own form of artificial intelligence (AI). AI-enabled tools such as chatbots have been already implemented by banks to interact with customers, but that is just the point of what is to come.AI has the potential to modify organizations on an extraordinary scale, from virtual financial assistants to computerized credit scoring and predictive analysis. Mr. Jones explains: “From a customer point of view, machine-learning is starting to enhance their experience in smart ways, quickly and efficiently resolving their problems. Machine-learning and AI will allow banks to spot outlines and solve customer problems at a seg the current speed in a very cost-efficient manner. This second wave of interruption will have a powerful influence, transforming the banking industry and with it the customer journey. Banks should seize the opportunities, when technology presents t next gear. Because time does not wait for any organization, people including banking sectors. No one can hide crores of rupees in banks and just act middle class. Privacy may have to be digitalization. Also, India’s demographic share is well suited to switch to digital behavior, with the median age of an Indian expected to be 29 years by 2020 and 900 million population falling in the age group of 15 60 years by 2025.People have enthusiastically started using technology to do banking transactions and benefit other services because they want more suitability at the cost of giving extra 2.Unpenetrated areas and government initiatives Around 50% of the non-banked population is directed and developing towards the goal of financial presence. Due to some government initiatives, banks have incredible opportunities implementing digital infrastructure.With Rs. 500 billion being targeted to be transmitted directly under DBT (Direct Benefit Transfer), around 160 million accounts have been opened under PMJDY (Pradhan Mantri Jan DhanYojna). 3. Leveraging increased smartphone usage and mobile penetration Mobile phones are likely to lead the digital growth in India, because the youth of India prefer to use smart phones rather than stand in long queues to avail banking services. Mobile 90% is likely to drive financial insertion. and predictable widespread reach of smart phones in the country provides a dis medium, to extend the reach of banking and payments services. Refer the graphs below: services. Refer the graphs below: , India’s demographic share is well suited to switch to digital behavior, with the median ndian expected to be 29 years by 2020 and 900 million population falling in the age group of 15- 60 years by 2025.People have enthusiastically started using technology to do banking transactions and benefit other services because they want more giving extra price. TECHNOLOGICAL DEVELOPMENTS distant future when we expect driverless cars and robots, it should be equally direct for us to visualize a future banking system with its own form of artificial intelligence (AI). Unpenetrated areas and government initiatives banked population is directed and developing towards the goal of financial presence. Due to some government initiatives, banks have opportunities implementing digital infrastructure.With Rs. 500 billion being targeted to be transmitted directly under DBT (Direct Benefit Transfer), around 160 million accounts have been opened under PMJDY (Pradhan enabled tools such as chatbots have been already banks to interact with customers, but that is just the point of what is to come.AI has the potential to modify organizations on an extraordinary scale, from virtual financial assistants to computerized and and advantages advantages in in lains: “From a customer point of view, learning is starting to enhance their experience in smart ways, quickly and efficiently 3. Leveraging increased smartphone usage and Mobile phones are likely to lead the digital growth in India, because the youth of India prefer to use smart phones rather than stand in long queues to Mobile perception of around 90% is likely to drive financial insertion. The existing and predictable widespread reach of smart phones in the country provides a disruptive and low-cost medium, to extend the reach of banking and payments learning and AI will allow banks to spot outlines and solve customer problems at a segment of efficient manner. This second wave of interruption will have a powerful influence, transforming the banking industry and with it the customer journey. Banks should seize the when technology presents to shift to the next gear. Because time does not wait for any organization, people including banking sectors. Figure3: Number of Mobile Internet Users Figure3: Number of Mobile Internet Users Figure2: Technological Developments in Banking Figure2: Technological Developments in Banking Few Trends and Opportunities: 1.Changing consumer behavior in favor of digitalization As the market is exposed to unsettling digital services, it is now putting its hands on changing client preference from traditional preference from traditional Changing consumer behavior in favor of t is exposed to unsettling digital services, it is now putting its hands on changing client banking banking to to its its Figure4: Smartphone Penetration (in percent) Figure4: Smartphone Penetration (in percent) @ IJTSRD | Available Online @ www.ijtsrd.com www.ijtsrd.com | Conference Issue: ICDEBI-2018 | Oct 2018 Page: 105

International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101 elements of their operating ecosystem to create a significant customer experience. elements of their operating ecosystem to create a significant customer experience. Indigenous Banking: The exact date of presence of indigenous bank is not exactly known. But, it is sure that the old banking system has been functioning for centuries. Some people suggests the presence of indigenous banks to the Vedic times of 2000-1400 BC. It has excellently fulfilled the needs of the country in the past. However, with the approaching of the British, its failure started. Regardless of the fast growth of modern commercial banks, however, the indigenous banks continue to hold a noticeable position in the Indian money market even in the present times. It includes seths, shroffs, chettis, indigenous bankers give money; act as money changers and finance internal trade of India by means of hundis or internal bills of exchange. The main defects of indigenous 1.They are disorganized and do not have any communication with other sections of the banking world. 2.They associate banking with trading and commission business and thus have presented trade risks into their banking business. 3.They do not differentiate between short term and long term finance and between t finance. 4.They do not give receipts in most cases and they charge out of proportion interest in regard with other banking institutions in the country. SUGGESTIONS FOR IMPROVEMENTS INDIGENOUS BANKING ARE: 1.The banking practices need to be 2.These banks should commercial banks on the basis of certain understanding in the respect of interest charged from the borrowers, the confirmation of the same by the commercial banks and the passing of the discounts to the priority sectors etc. 3.These banks should be stimulated to become corporate bodies rather than continuing as family based enterprises. The exact date of presence of indigenous bank is not it is sure that the old banking system has been functioning for centuries. Some people suggests the presence of indigenous banks to 1400 BC. It has excellently fulfilled the needs of the country in the past. aching of the British, its failure started. Regardless of the fast growth of modern commercial banks, however, the indigenous banks continue to hold a noticeable position in the Indian money market even in the present times. It Figure5: India’s Mobile Banking Opportunity Figure5: India’s Mobile Banking Opportunity ttis, mahajans, etc. The indigenous bankers give money; act as money changers and finance internal trade of India by means of hundis or internal bills of exchange. indigenous banking are: They are disorganized and do not have any nication with other sections of the banking They associate banking with trading and commission business and thus have presented trade risks into their banking business. They do not differentiate between short term and long term finance and between the purposes of Figure6: Mobile banking user forecasts Mobile banking user forecasts Some Challenges: ?As per the report of FICCI, BCG, and IBA; 17% of the users were unaware about bank’s digital offerings, 35% were aware but were not using, 7% were unhappy user and 42% were fulfilled users. The challenge here is to convert alertness into practice. ?MSMEs 70% and shopkeeper transaction’s 90% were done through cash &cheque, only 8% MSMEs collect orders online, and only 4% agree payments online. This is completely improper in a digital world and thus becomes a cha ?24% do not know how to use Mobile banking apps, 16% don’t know about bank’s app and 12% of them have fear of hacking. Despite the huge possible and well promise of digital financial services, there is a need for the users to adopt a general approach on digital and combining business strategy with all the They do not give receipts in most cases and they charge out of proportion interest in regard with other banking institutions in the country. As per the report of FICCI, BCG, and IBA; 17% of the users were unaware about bank’s digital offerings, 35% were aware but were not using, 7% were unhappy user and 42% were fulfilled users. is to convert alertness into IMPROVEMENTS OF ARE: The banking practices need to be upgraded. These banks should commercial banks on the basis of certain understanding in the respect of interest charged from the borrowers, the confirmation of the same by the commercial banks and the passing of the ty sectors etc. These banks should be stimulated to become corporate bodies rather than continuing as family MSMEs 70% and shopkeeper transaction’s 90% were done through cash &cheque, only 8% MSMEs collect orders online, and only 4% agree payments online. This is completely improper in a digital world and thus becomes a challenge. 24% do not know how to use Mobile banking apps, 16% don’t know about bank’s app and 12% be be connected connected with with Despite the huge possible and well-established promise of digital financial services, there is a need neral approach on -going digital and combining business strategy with all the @ IJTSRD | Available Online @ www.ijtsrd.com www.ijtsrd.com | Conference Issue: ICDEBI-2018 | Oct 2018 Page: 106

International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101 IV. STRUCTURE OF INDIAN BANKING SYSTEM STRUCTURE OF INDIAN BANKING SYSTEM Figure7: Structure of Indian Banking System Figure7: Structure of Indian Banking System RESERVE BANK OF INDIA (RBI): The country had no central bank earlier to the establishment of the RBI. The RBI is the supreme regulatory and banking authority in the country and controls the banking system in India. It is called the Reserve Bank’ as it keeps the reserves of all commercial banks. COMMERCIAL BANKS: Commercial banks organize savings of general public and make them accessible to large and small industrial and trading units mainly for working capital requirements. Commercial banks in India are private sector with a few foreign banks and largely Indian public sector and. The public sector banks account for more than 92 percent of the entire banking business in India—occupying a leading commercial banking. The State Bank of India and its 7 associate banks along with another 19 banks are the public sector banks. SCHEDULED AND NON-SCHEDULED The scheduled banks are preserved in the second schedule of the RBI Act, 1934. These banks have a paid-up capital and reserves of a combined not less than Rs. 5lakhs, they have to please the RBI that their affairs are carried out in the interest of their depositors. All regional rural banks, commercial banks (Indian and foreign), and state cooperative banks (Indian and foreign), and state cooperative banks are scheduled banks. Non- scheduled banks are involved in the second schedule of the RBI Act, 1934. At present there are merely three such banks in banks are scheduled banks. Non not involved in the second schedule of the RBI Act, 1934. At present there are merely three such banks in the country. REGIONAL RURAL BANKS: The Regional Rural Banks (RRBs) the newest form of banks, came into presence in the middle of 1970s (these are sponsored by individual nationalized commercial banks) with the objective of developing rural economy by providing credit and deposit facilities for agriculture and other productive activities of all kinds in rural areas.The importance is on providing such facilities to small and marginal farmers, rural artisan’s, agricultural laborers, and other small entrepreneurs in rural areas. COOPERATIVE BANKS: Cooperative banks are organized under the provisions of the Cooperative Credit Societies Act of the states. The major recipient of the Cooperative Banking is the agricultural sector in particular and the rural sector in general.Long-term agriculture credit is provided by the Land Development Banks. The funds of the RBI meant for the agriculture sector actually pass t CCBs and SCBs. The cooperative credit movement has now spread to urban areas also and there are many urban cooperative banks coming under SCBs. cooperative credit institutions operating in the country cooperative credit institutions operating in the country The country had no central bank earlier to the establishment of the RBI. The RBI is the supreme regulatory and banking authority in the country and controls the banking system in India. It is called the Reserve Bank’ as it keeps the reserves of all BANKS: The Regional Rural Banks (RRBs) the newest form of banks, came into presence in the middle of 1970s red by individual nationalized commercial banks) with the objective of developing rural economy by providing credit and deposit facilities for agriculture and other productive activities of all kinds in rural areas.The importance is on ities to small and marginal farmers, rural artisan’s, agricultural laborers, and other small entrepreneurs in rural areas. Commercial banks organize savings of general public and make them accessible to large and small industrial and trading units mainly for working capital Commercial banks in India are private foreign banks and largely Indian- public sector and. The public sector banks account for more than 92 percent of the entire banking business in occupying a leading commercial banking. The State Bank of India and its long with another 19 banks are the position position in in the the organized under the provisions of the Cooperative Credit Societies Act of the states. ajor recipient of the Cooperative Banking is the agricultural sector in particular and the rural sector in term agriculture credit is provided by the Land Development Banks. The funds of the RBI meant for the agriculture sector actually pass through CCBs and SCBs. The cooperative credit movement has now spread to urban areas also and there are many urban cooperative banks coming under SCBs. The SCHEDULED BANKS: The scheduled banks are preserved in the second schedule of the RBI Act, 1934. These banks have a combined value of please the RBI that their affairs are carried out in the interest of their regional rural banks, commercial @ IJTSRD | Available Online @ www.ijtsrd.com www.ijtsrd.com | Conference Issue: ICDEBI-2018 | Oct 2018 Page: 107

International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 | IF: 4.101 are mainly of two classes: agricultural and agricultural. There are two separate cooperative agencies for the provision of agricultural credit: one V. Banking now and then are mainly of two classes: agricultural and non- agricultural. There are two separate cooperative agencies for the provision of agricultural credit: one for short and medium-term credit, and long-term credit. term credit, and the other for Figure8: Details of Payment Figure8: Details of Payment System Expanse of digital banking According to the RBI Report in 2016 2,22,481 Automated Teller Machines (ATMs) and 25,29,141 Point of Implementation of electronic payment system such as ECS (Electronic Clearing Service), NEFT (National Electronic Fund Transfer), RTGS (Real Time Gross Settlement), Mobile banking system, Debit cards, Prepaid cards, Cheque Truncation System, Credit Cards, have all gained wide recognition in Indian banks. These are all notable innovations revolution in the banking sector. Online banking has changed the face of banking and brought about a notable change in the banking operations. National Electronic Funds Transfer (NEFT) is the most frequently used electronic payment method for transferring money from any bank branch to another bank in India. It operates in half hourly batches. Time Gross Settlement (RTGS) is largely used for high-value transactions which are centered on 'real time'. The smallest amount to be remitted through RTGS is Rs. Two Lakhs. There is no upper limit. Immediate Payment Service (IMPS) is an immediate electronic funds transfer facility presented Payments Corporation of India (NPCI) which is available 24 x 7. The usage of Prepaid payment instruments (PPIs) for purchase of goods & services and funds transfers has improved greatly in recent years. The value of transactions through PPI Cards (which include gift cards, foreign travel instruments, & corporate cards) & mobile wallets have jumped drastically from Rs.108 billion and Rs. 85 billion respectively in 2014 and Rs. 535 billion respectively in 2016 Table below shows Increase in volume related to RTGS, RECs, Debit card, Credit cards, prepaid payment instruments and Mobile banking: payment instruments and Mobile banking: According to the RBI Report in 2016-17 there are 2,22,481 Automated Teller Machines (ATMs) and 25,29,141 Point of Implementation of electronic payment system such as lest amount to be remitted through Lakhs. There is no upper limit. Immediate Payment Service (IMPS) is an immediate electronic funds transfer facility presented by National Payments Corporation of India (NPCI) which is Sale Sale devices devices (POS). (POS). NEFT (National Electronic Fund Transfer), RTGS (Real Time Gross Settlement), Mobile banking system, Debit cards, Prepaid cards, Cheque Truncation System, Credit Cards, have all gained wide recognition in Indian notable innovations in the digital revolution in the banking sector. Online banking has changed the face of banking and brought about a in the banking operations. The usage of Prepaid payment instruments (PPIs) for purchase of goods & services and funds transfers has in recent years. The value of transactions through PPI Cards (which include gift cards, foreign travel ts, & corporate cards) & mobile wallets have jumped drastically from Rs.108 billion and Rs. 85 billion respectively in 2014-15 to Rs. 279 billion and Rs. 535 billion respectively in 2016-17 cards, cards, mobile prepaid National Electronic Funds Transfer (NEFT) is the electronic payment method for transferring money from any bank branch to another bank in India. It operates in half hourly batches. Real Time Gross Settlement (RTGS) is largely used for value transactions which are centered on 'real Table below shows Increase in volume related to card, Credit cards, prepaid Volume (Million) Cards (Debit, Credit) 10038.7 8424.0 7219.1 6174.5 5731.6 RECs, Debit card, Credit cards, prepaid payment instruments and Retail Electronic Clearing (ECS, NEFT, IMPS) 3141.5 1687.4 1108.3 694.1 512.4 Retail Electronic Clearing (ECS, NEFT, IMPS) Prepaid Payment (m-Wallets, PPI Cards, Paper Vouchers Prepaid Payment (m PPI Cards, Paper Vouchers 748.0 314.5 133.6 66.9 30.6 Mobile Banking 389.5 171.9 94.7 53.3 25.6 Year RTGS 2015-16 2014-15 2013-14 2012-13 2011-12 Table 1: Increase in volume related to RTGS, Table 1: Increase in volume related to RTGS, RECs, Debit card, Credit cards, prepaid payment instruments and Mobile banking 98.4 92.8 81.1 68.5 55.1 @ IJTSRD | Available Online @ www.ijtsrd.com www.ijtsrd.com | Conference Issue: ICDEBI-2018 | Oct 2018 Page: 108

International Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456 Journal of Trend in Scientific Research and Development (IJTSRD) ISSN: 2456-6470 VI. ?Security Risks - External threats such as hacking, spoofing and sniffing expose banks to security risks. Banks are also exposed to especially frauds by employees in collusion with customers / employees. ?Financial Knowledge / Customer Awareness Lack of knowledge amongst people to use e banking facilities is the major limitation in India. ?Fear factor - One of the biggest obstacle in online banking is inclination to conventional banking method by older generation and mostly people from the rural areas. The fright of losing money in the online transaction is a wall to usage of e banking. ?Training - Lack of suitable knowled is a major constraining for employees to deal with the innovative and changing technologies in banks. Training at all levels on the changing trends in IT is the requirement of the day. ?The high speed internet connectivity at rural places in India is big challenge. Experience shows that we have failed in providing 24x7 internet connectivity in rural and remote places. VII. CONCLUSION The mobile and wireless market has been one of the fastest growing markets in the world. technology and the escalating use of mobile and smart LIMITATIONS phone devices, has given the banking industry a new Connecting a customer anytime and anywhere to their money and needs is a must have service that has become an unstoppable necessity. This worldwide communication is leading a generation of strong banking relationships. The banking world can achieve superior interactions with lic base if they accommodate all their They have a unique challenge to keep their customer alliances and keeping up with the new technologies, and competitive strategies that other banks also have to offer the public. ces plus outside locations like ATMS are crucial to every banks success. Meeting all challenges including safety and security are perfect examples of good banking strategies. In order for the financial institutions to effectively grow they must new technologies and customize them to suit their economic success and the public’s success. phone devices, has given the banking industry a new platform. Connecting a customer anytime and anywhere to their money and needs is a must have service that has become an unstoppable necessity. This worldwide communication is leading a new generation of strong banking relationships. The banking world can achieve superior interactions with their public base if they accommodate all their customer needs. They have a unique challenge to keep their customer alliances and keeping up with the new technologies, and competitive strategies that other banks also have to offer the public. Conveniences of services plus outside locations like ATMS are crucial to every banks success. Meeting all challenges including safety and security are perfect examples of good banking strategies. In order for the financial institutions to effectively grow they must embrace the new technologies and customize them to suit their economic success and the public’s success. VIII.References:- 1.http://ficci.in/sector/3/Add_docs/Financial Foresights-April-2017.pdf 2.www.shodhganga.com 3.https://www.avoka.com/blog/top banking-trends 4.https://home.kpmg.com/in/en/home/insights/2015/ 08/financialsectorpov.html 08/financialsectorpov.html External threats such as hacking, spoofing and sniffing expose banks to security internal risks especially frauds by employees in collusion with Financial Knowledge / Customer Awareness - Lack of knowledge amongst people to use e- banking facilities is the major limitation in India. t obstacle in online banking is inclination to conventional banking method by older generation and mostly people from the rural areas. The fright of losing money in the online transaction is a wall to usage of e- Lack of suitable knowledge and skills is a major constraining for employees to deal with the innovative and changing technologies in banks. Training at all levels on the changing trends in IT is the requirement of the day. The high speed internet connectivity at rural Experience shows http://ficci.in/sector/3/Add_docs/Financial- 2017.pdf n providing 24x7 internet connectivity in rural and remote places. https://www.avoka.com/blog/top-millennial- The mobile and wireless market has been one of the The arrival of https://home.kpmg.com/in/en/home/insights/2015/ technology and the escalating use of mobile and smart @ IJTSRD | Available Online @ www.ijtsrd.com www.ijtsrd.com | Conference Issue: ICDEBI-2018 | Oct 2018 | Oct 2018 Page: 109

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Digitalization

Digitalization

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Banking sector Reforms

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Digitalization

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Digitalization in Banking Sector

Digital transformation is far beyond just moving from traditional banking to a digital world. It is and other financial institutions learn about, interact with and satisfy customers. An efficacious digital transformation begins with an understanding of digital customer behavior, preferences, choices, and likes, dislikes, stated as well as unstated needs aspirations etc... And this transformation leads to the major changes in the organization, from product centric to customer centric view. The most effective way to understand and bring the organization from traditional banking to digital banking is omni channel approach. As customers continue to change their channel usage patterns, bank and credit firms need to focus on delivering a seamless customer experience across touch points. More than just an axiom, omni channels banking is a prospect to take bottom line on higher note by gaining insights from customer channels, behavior and preferences. Todays customers are more sophisticated and tech savvy, and to cater to their specific needs, each customer need unique customers from banking. They want the companies to understand their unstated needs as well as their likes. So, it should come as no surprise that these customers are expecting similar kind of response and service from banking institution too. From researching new service, opening an account, checking balance, conducting transactions, loans, credits, wealth management, customer support, and experience has become a key to success in this competitive market place. Arati B. Pawadi "Digitalization in Banking Sector" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | International Conference on Digital Economy and its Impact on Business and Industry , October 2018, URL: https://www.ijtsrd.com/papers/ijtsrd18668.pdf Paper URL: http://www.ijtsrd.com/management/marketing-management/18668/digitalization-in-banking-sector/arati-b-pawadi

40 views • 3 slides

Digitalization in Marketing

Digitalization in Marketing

Aadyaa Originals Private Limited Aadyaau009d is a jewellery studio based in Pune, India which has a focus on handmade jewellery in metals like Sterling Silver, Brass and Copper. Established in 2013, Aadyaa has shipped more than 30,000 orders thus far within and outside India. In this journey, Aadyaa has used Digital Marketing Media solely to cross milestones with regard to turnover, branding, presence in the market. Aadyaa started with a Facebook page wherein friends and family members were the first ones to like the page and become followers. With the increased interaction on Facebook page, Aadyaa launched its own website www.aadyaa.com to ensure a seamless shopping experience for its customers. While the website continues to be the only place where Aadyaa products can be bought online, the traffic to this website is still led by leaders in the digital marketing media like Facebook, Instagram and Google. Based on a research paper published by Economic Times, online jewellery market in India is expected to reach a mark of INR 5300 crores by 2020. This signifies a huge potential and to tap into the tier 2 and tier 3 markets, digital marketing media looks to be the most cost effective marketing and branding channel. Digital marketing media can be used to create your audiences, target segments based on past data and get a boundary less group of followers who are together only based on interest in a particular brand. All digital marketing media have evolved over a period of last 8 to 10 years and now offer a very powerful analytics dashboard to create your own 'what if scenarios. They also offer a plenty of datapoints gathered from publicly shared information of users over internet which help deciding in a budget. Aadyaa has created varied marketing campaigns on these digital media during new collection launches, events, and exhibitions. As of now, Aadyaa boasts a fan following of over 400,000 on Facebook and close to 50,000 users on Instagram. This includes various celebrities in Indian Film Industry. Digital marketing media remains Aadyaas only channel for marketing and branding. Digital marketing contributes to over 75 percent of Aadyaas turnover now. This paper delves deep into Aadyaas marketing strategy which has Digital Marketing as the strongest pillar. Paper is been presented in the form of a case study with the help of information provided by Mr. Jaydeep Hingne Director u201c Aadyaa Originals Private Limited , research information available in various reports published, and analysis plus suitable assumptions of the author. Dr. Satish Marathe "Digitalization in Marketing" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Special Issue | International Conference on Digital Economy and its Impact on Business and Industry , October 2018, URL: https://www.ijtsrd.com/papers/ijtsrd18691.pdf Paper URL: http://www.ijtsrd.com/management/marketing-management/18691/digitalization-in-marketing/dr-satish-marathe

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BANKING SECTOR DEVELOPMENT

BANKING SECTOR DEVELOPMENT

BANKING SECTOR DEVELOPMENT. Loan portfolio ( 2007 - 100%). Deposits ( 2007 - 100%). -0.1%. -0.2%. No. 4 a mong other banks operating in Lithuania, having 8.6 % deposit market share and 5.1 % loan market share. 2. GROUP STRUCTURE. SUBSIDIARIES HELD FOR SALE.

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Digitalization

Digitization has paved the way for innovative supply chain management techniques.

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Autodialer in the banking sector

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Introducing #Autodialer: Shaping the Future of #Banking! ?ufe0f Personalized interactions ? Fraud prevention ? Operational efficiency ? Embrace the innovation Embark on a journey of secure, efficient, and personalized banking revolution with Autodialer technology. Autodialer is your gateway to a redefined banking experience!

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Role of Digitalization in Pharma Sector

Role of Digitalization in Pharma Sector

The pharmaceutical industry is undergoing a revolutionary transformation with the advent of digitalization. The integration of digital technologies in the pharma sector has paved the way for significant advancements in drug development, manufacturing, distribution, and patient care. RK Lifecare Inc., a leading player in the pharmaceutical industry.

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WORLD TRADE ORGANIZATION

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TRADE FACILITATION

  

Three sub-topics were addressed at the meeting, namely: using data and technology to simplify trade; promoting the implementation of the Trade Facilitation Agreement through the digital revolution and smart technologies; and digitalization of border procedures. Ten delegations shared their experiences: China, Costa Rica, Guatemala, Japan, Pakistan, Peru, the Dominican Republic, the United Kingdom, the United States, and Togo. Presentations can be accessed here .

"We could see elements like the use of data, electronic certificates, as well as smart customs and single windows. It was also very interesting to see the benefits of digitalization in terms of time and cost reductions," the chair of the committee, Mr Carlos Guevara (Ecuador), said in video remarks released at the end of the meeting. "The aim of the committee is to have a document that could capture the lessons learned and good practices that we can identify in this exercise." His video message can be accessed here .

The other topics under the digitalization theme which will be taken up at the next committee meetings will be formalities and documentation requirements to facilitate trade; and "single windows." Members will later decide what format the compilation of discussions will take, with the aim of condensing the lessons learned by members into a tangible result at the end of the year.

The WTO Secretariat provided a status report concerning the ratification and implementation of the Trade Facilitation Agreement.

The TFA entered into force in 2017 and contains provisions for expediting the movement, release and clearance of goods, including goods in transit. It is the first WTO agreement in which developing members and least developed country (LDC) members can determine their own implementation schedules and seek to acquire implementation capacity through the provision of related assistance and support.

According to the Secretariat's update, as of 16 April, notifications submitted by developing members and LDC members indicate that they have committed to implement 73.1% of TFA obligations. Developed members were required to implement all provisions of the TFA from its entry into force. Furthermore, seven members are yet to deposit their ratifications of the TFA; Venezuela said at the meeting it aims to do so soon. The Secretariat's presentation can be accessed here .

The committee reviewed over 40 notifications from members during the meeting. Other topics covered included Brazil's presentation on results from its study on cargo release time for exports; the United States' concern over Indonesia's customs procedures for intangible products; updates from the TFA Facility; and work related to trade facilitation by the Informal Working Group on Micro, Small and Medium-Sized Enterprises (MSMEs). The chair furthermore requested members to send comments in writing on the " Document Containing Good Practices and Building Blocks of Successful National Trade Facilitation Committees " before the next committee meeting to ensure the document reflects the experiences that have been shared by members and international organizations.

The next committee meeting will be held on 9 and 10 July.

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Digital India PPT

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  • 1. D I G I T A L I N D I A Digital India A programme to transform India into a digitally empowered society and knowledge economy
  • 2. D I G I T A L I N D I A What is Digital India?  Digital India is a Programme to prepare India for a knowledge future.  The focus is on being transformative – to realize IT + IT = IT  The focus is on making technology central to enabling change.  It is an Umbrella Programme – covering many departments.  It weaves together a large number of ideas and thoughts into a single, comprehensive vision so that each of them is seen as part of a larger goal.  Each individual element stands on its own. But is also part of the larger picture.  It is coordinated by DeitY, implemented by the entire government.  The weaving together makes the Mission transformative in totality  The Programme:  Pulls together many existing schemes.  These schemes will be restructured and re-focused.  They will be implemented in a synchronized manner.  Many elements are only process improvements with minimal cost.  The common branding of programmes as Digital India highlights their transformative impact.
  • 3. D I G I T A L I N D I A Vision of Digital India Centered on 3 Key Areas • Digital Infrastructure as a Utility to Every Citizen • Governance & Services on Demand • Digital Empowerment of Citizens
  • 4. D I G I T A L I N D I A Vision Area 1: Infrastructure as a Utility to Every Citizen • High speed internet as a core utility • Cradle to grave digital identity -unique, lifelong, online, authenticable • Mobile phone & Bank account enabling participation in digital & financial space • Easy access to a Common Service Centre • Shareable private space on a public cloud • Safe and secure Cyber-space
  • 5. D I G I T A L I N D I A • Seamlessly integrated across departments or jurisdictions • Services available in real time from online &mobile platform • All citizen entitlements to be available on the cloud • Services digitally transformed for improving Ease of Doing Business • Making financial transactions electronic & cashless • Leveraging GIS for decision support systems & development Vision Area 2: Governance & Services On Demand
  • 6. D I G I T A L I N D I A • Universal Digital Literacy • Universally accessible digital resources • All documents/ certificates to be available on cloud • Availability of digital resources / services in Indian languages • Collaborative digital platforms for participative governance • Portability of all entitlements through cloud Vision Area 3: Digital Empowerment of Citizens
  • 7. D I G I T A L I N D I A Nine Pillars of Digital India 1. Broadband Highways 2. Universal Access to Phones 3. Public Internet Access Programme 4. E-Governance – Reforming government through Technology 5. eKranti – Electronic delivery of services 6. Information for All ElectronicsManufacturing 7. Electronics Manufacturing – Target NET ZERO Imports 8. IT for Jobs 9. Early Harvest Programmes
  • 8. D I G I T A L I N D I A Pillar 1. Broadband Highways • Coverage: 250,000 GP • Timeline: December 2016 • CAPEX: Rs 32,000 Cr • Nodal Dept: DoT Broadband for all Rural •Virtual Network Operators for service delivery. •Mandate communication infrastructure in new urban development and buildings. Broadband for all Urban • Coverage: Nationwide • Timeline: March 2017 • Cost: Rs 15,686 Cr • Nodal Dept: DeitY National Information Infrastructure 1yr: 50,000 GP 2yr: 100,000 GP 3yr: 100,000 GP Changes in Rules to facilitate. Integration of SWAN, NKN, NOFN. To be implemented in 2 years
  • 9. D I G I T A L I N D I A Pillar 2. Universal Access to Mobile connectivity • Coverage: Remaining uncovered villages (~ 42,300 villages) • Timeline: FY 2014-18 • Cost: Rs 16,000 Cr • Nodal Dept: DoT Universal Access to mobile connectivity Ongoing Programme Increased network penetration & coverage of gaps
  • 10. D I G I T A L I N D I A Pillar 3. Public Internet Access Programme – National Rural Internet Mission •Coverage: 2,50,000 villages (now 130,000) •Timeline: 3 Years - March 2017 •Cost: Rs 4750 Cr •Nodal Agency: DeitY CSCs – made viable, multi- functional end-points for service delivery •Coverage: 1,50,000 Post Offices •Timeline: 2 Years •Nodal Agency: D/o Posts Post Offices to become Multi-Service Centres Ongoing Programme Reach of Govt. services to all GPs This should be long term vision for POs
  • 11. D I G I T A L I N D I A  Government Business Process Re-engineering using IT to improve transactions • Form Simplification, reduction • Online applications and tracking, Interface between departments • Use of online repositories e.g. school certificates, voter ID cards, etc. • Integration of services and platforms – UIDAI, Payment Gateway, Mobile Platform, EDI  Electronic Databases – all databases and information to be electronic, not manual  Workflow automation inside government  Public Grievance Redressal - using IT to automate, respond, analyse data to identify and resolve persistent problems – largely process improvements  To be implemented across government - critical for transformation. Pillar 4. e-Governance: Reforming Government through Technology
  • 12. D I G I T A L I N D I A Pillar 5. eKranti - Electronic Delivery of Services  Technology for Education – e-Education • All Schools connected with broadband • Free wifi in all schools (250,000) • Digital Literacy program • MOOCs – develop pilot Massive Online Open Courses  Technology for Health – e-Healthcare • Online medical consultation • Online medical records • Online medicine supply • Pan-India exchange for patient information • Pilots – 2015; Full coverage in 3 years  Technology for Planning • GIS based decision making • National GIS Mission Mode Project  Technology for Farmers • Real time price information • Online ordering of inputs • Online cash, loan, relief payment with mobile banking  Technology for Security • Mobile Emergency Services  Technology for Financial Inclusion • Mobile Banking • Micro-ATM program • CSCs/ Post Offices  Technology for Justice • e-Courts, e-Police, e-Jails, e-Prosecution  Technology for Security  National Cyber Security Co-ordination Center Ongoing Programme (NeGP) – will be revamped to cover these elements
  • 13. D I G I T A L I N D I A Pillar 6. Information for All  Online Hosting of Information & documents  Citizens have open, easy access to information  Open data platform  Government pro-actively engages through social media and web based platforms to inform citizens  MyGov.in  2-way communication between citizens and government  Online messaging to citizens on special occasions/programs  Largely utilise existing infrastructure – limited additional resources needed
  • 14. D I G I T A L I N D I A Pillar 7. Electronics Manufacturing Target NET ZERO IMPORTS by 2020  Target NET ZERO Imports is a striking demonstration of intent  Ambitious goal which requires coordinated action on many fronts  Taxation, Incentives  Economies of Scale, Eliminate cost disadvantages  Focused areas – Big Ticket Items  FABS, Fab-less design, Set top boxes, VSATs, Mobiles, Consumer & Medical Electronics, Smart Energy meters, Smart cards, micro-ATMs  Incubators, clusters  Skill development  Government procurement  There are many ongoing programs which will be fine-tuned.  Existing Structures inadequate to handle this goal. Need strengthening.
  • 15. D I G I T A L I N D I A Pillar 8. IT for Jobs •Coverage: 1 Crore students •Timeline: 5 years •Cost: Rs 200 Cr for weaker sections •Nodal Agency: DeitY Train people in smaller towns & villages for IT sector jobs •Scope: Setting up of BPO per NE State •Coverage: NE States •Nodal Agency: DeitY IT/ITES in NE •Coverage: 3,00,000 •Timeline: 2 Years •Nodal Agency: DeitY Train Service Delivery Agents to run viable businesses delivering IT services •Coverage: 5,00,000 •Timeline: 5 Years •Nodal Agency: DoT Telecom service providers to train rural workforce to cater to their own needs New Scheme IT ready workforce ICT enabled growth in NE Telecom ready workforce Ongoing Skilled VLEs and Viable CSCs
  • 16. D I G I T A L I N D I A Pillar 9. Early Harvest Programmes •Coverage: Elected representatives, All Govt employees •1.36 Cr mobiles and 22 Lakh emails • Mass Messaging Application developed IT platform for messages • Basket of e-Greetings templates available • Crowd sourcing of e-Greetings thru MyGov • e-Greetings Portal ready by 14 August 2014 Government Greetings to be e-Greetings • Coverage: All Central Govt. Offices in Delhi • Operational in DeitY & Initiated in Urban Development • On-boarding started in other depts • Procurement of devices – tender issued Biometric attendance Targeted Mass messaging since July 14 1st e-Greeting from PM on 15th Aug 2014 To be completed by Oct 2014
  • 17. D I G I T A L I N D I A Pillar 9. Early Harvest Programmes •Scope: All universities on NKN •400 additional Universities •Cost: Rs 790 Cr Wi-fi in All Universities •Phase I upgradation for 10 Lakh employees done •Ph II for 50 Lakh employees by March 2015 •Cost: Rs 98 Cr Secure email within government • Standardised templates under preparationStandardize government email design Approval - Oct 2014 Implementation done by Dec 2015 Email to be primary mode of communication To be ready by October 2014
  • 18. D I G I T A L I N D I A Pillar 9. Early Harvest Programmes • Coverage: Cities with pop > 1 Mill., tourist centres • Nodal Agency: DoT/ MoUDPublic wifi hotspots • Nodal Agency: MHRD/ DeitY School Books to be eBooks • DeitY’s Mobile Seva Platform ready • Nodal Agency: MoES (IMD) / MHA (NDMA) SMS based weather information, disaster alerts • Nodal Agency: DeitY/ DoWCD National Portal for Lost & Found children Digital Cities Completed by Dec 2015 In place by Dec 2014 Completed by Mar 2015 In place by Oct 2014
  • 19. D I G I T A L I N D I A Institutional Mechanisms at National Level D I G I T A L I N D I A Monitoring Committee on Digital India Digital India Advisory Group (Chaired by Minister CIT) DeitY Line Ministries Apex Committee (Chaired by Cab Sec.) State Governments / UTs CIO
  • 20. D I G I T A L I N D I A Composition of Monitoring Committee on Digital India • Prime Minister – Chairman • Finance Minister • Minister of Communications & IT • Minister of RD • Minister of HRD • Minister of Health Special Invitees: • Principal Secretary to PM • Cabinet Secretary • Secretaries of Expenditure, Planning, DoT and Posts • Secretary, DeitY – Convener
  • 21. D I G I T A L I N D I A MINISTER (Communications & IT) SECRETARY (DeitY) Addl. Secretary (e-Gov) Joint Secretary (Electronics Hardware Manufacturing) Joint Secretary (Personnel, Admn. & Industry Promotion S/W) Addl. Secretary (Digital India) Joint Secretary (Infrastructure Development) Joint Secretary (Capacity Building & Digital Enablement of Citizens) Joint Secretary (IT applications in un- covered areas & Process Re-engineering Joint Secretary (e-Gov) Electronic Manufacturing – Target Net Zero Imports Public Internet Access Programme E-Governance: Reforming Government through Technology Electronic Delivery of Services - eKranti Technology for Jobs Information for All D I G I T A L I N D I A Reorganisation of NIC CIOs in important Ministries
  • 22. D I G I T A L I N D I A Estimated Costs and Impacts  Overall Costs of Digital India ~ Rs 100,000 Cr in ongoing schemes (only DeitY, DOT & not incl. those in other line Ministries) ~ Rs 13,000 Cr for new schemes & activities  Impact of Digital India by 2019 • Broadband in 2.5 lakh villages, universal phone connectivity • Net Zero Imports by 2020 • 400,000 Public Internet Access Points • Wi-fi in 2.5 lakh schools, all universities; Public wi-fi hotspots for citizens • Digital Inclusion: 1.7 Cr trained for IT, Telecom and Electronics Jobs • Job creation: Direct 1.7 Cr. and Indirect at least 8.5 Cr. • e-Governance & eServices: Across government • India to be leader in IT use in services – health, education, banking • Digitally empowered citizens – public cloud, internet access
  • 23. D I G I T A L I N D I A Challenges & Changes Needed  Program on this scale never conceived  Each Pillar/program has own challenges  Human Resource Issues  NIC - not equipped for a fraction of this task (obsolesce) - needs revamping & restructuring  DeitY – needs program managers – at least 4 more officers at senior levels  Ministries – Need a Chief Information Officer / Chief Technology Officer (CIO/CTO)  Could begin with CIOs 10 major Ministries  Can be anyone – from within or outside government  To be patterned as AS & FAs – dual reporting  Financial Resource Issues  Mostly structured around ongoing programs : Better focus, need some restructuring  Some others are process improvements or better utilisation of resources  A few new programs may be needed – particularly in Electronics manufacturing and Skill Development  Coordination Issues  Program covers many other departments  Need commitment and effort  Leadership and support critical for success
  • 24. D I G I T A L I N D I A

Editor's Notes

  • 1,00,000 – 36,000 Fab+575 Skill+15600 NII+24,000 Incentives+500 Cluster+5000 Innovation+500 Digital Literacy+4750 CSC 2.0+200 Training+790 WiFi+98 email.

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  19. The Digitization of Human Resources

    Learn how HR departments are embracing digitization and five key trends in the adoption of Software as a Service (SaaS) based applications for human capital management (HCM). Read more. Technology. 1 of 11. The Digitization of Human Resources - Download as a PDF or view online for free.

  20. PPT

    In order to improve the customer service, book keeping and MIS reporting, the need for computerization was felt in the Indian banking sector in late 1980s. Reserve Bank of India set up a Committee headed by Dr. C. Rangarajan on computerization in banks in 1988. Conversion of data into a digital format with the adoption of technology is called as digitization. By implementation of ...

  21. WTO members hold focused discussions on harnessing digitalization to

    At a meeting of the Committee on Trade Facilitation on 16-17 April, members kicked off discussions on utilizing digital tools to optimize the movement of goods across borders in line with the committee's decision to focus on this topic in 2024. Members heard presentations on national experiences with using digitalization to facilitate trade. The committee intends to explore this topic in ...

  22. Digitisation in Banking sector

    Jul 21, 2017 •. 27 likes • 14,313 views. Himanshu Agarwal. Follow. 9461210887- Himanshu agarwal. Economy & Finance. 1 of 60. Digitisation in Banking sector. Digitisation in Banking sector - Download as a PDF or view online for free.

  23. NATO Wraps Up 2024 Lessons Learned Conference with Focus on NATO 2030

    The 2024 NATO Lessons Learned Conference recently concluded, after two days of presentations and discussions centred on the theme: "NATO Lessons Learned Capability Development in Support of NATO 2030 Efforts.". Participants convened in Lisbon, Portugal, to delve into these crucial topics.

  24. Digital India PPT

    2. D I G I T A L I N D I A What is Digital India? Digital India is a Programme to prepare India for a knowledge future. The focus is on being transformative - to realize IT + IT = IT The focus is on making technology central to enabling change. It is an Umbrella Programme - covering many departments. It weaves together a large number of ...