The bank has been using the developments in the digital world to streamline operations. It has been investing a lot in data warehousing, social media linkages, data analytics and mobile-based innovations.
Payments banks will penetrate the remotest villages - possibly with a
lot of help from the mobile phone. Their success will depend on how they
approach the market and their value propositions.
The bank is looking to grow 10 per cent above the industry average. "Our
investors expect it," says Managing Director and CEO Vishwavir Ahuja who has managed to transform the erstwhile Ratnakar Bank into the
country's fastest-growing small bank.
Till recently, it was focusing on the corporate and commercial lending side of the business that has seen it rake up a balance sheet size of Rs 1.36 lakh crore in merely 11 years of operations.
One of the innovations, Mobile banking, has seen impressive growth. The proof is in the
numbers. The bank clocked Rs 15,775 crore in mobile transactions for
the full year 2014/15.
Disruption, competition, end to lazy banking, financial inclusion and a slowing economy sum up the bankers' dilemma. The BT-KPMG study identifies those who, in spite of the odds, are well grounded.
Payments banks have thrown their hats in the ring to take on an established banking industry on the back of innovations and first-mover advantage. Will the banks be able to counter with equal zeal?
