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Banks may have to review their digital capabilities given the exponential growth in this mode of transactions. And symptomatic of this are the outages in State Bank of India’s YONO and HDFC Bank’s digital platforms, even as it puts the spotlight on chief technology officers (CTOs).
“Within open-architecture systems, glitches are bound to happen. Heavy traffic systems such as Twitter and WhatsApp have encountered outages,” says Mahesh Ramamoorthy, managing director for banking solutions at FIS. Over the next 18 months, banks can be expected to take a call on technology spends, as also on the nature of the relationship between
