Banking sector growth contingent on Innovative delivery model: PwC

According to a report by PwC (PricewaterhouseCoopers):

· Innovative service delivery models, including mobile banking and ATMs, and the ability to satisfy customers will drive the growth of banking sector in the near future

· The concerns over data security and lack of regulation clarity seeks urgent govt attention in order to encourage innovation in banking technology

· Alternate channels of banking, especially internet banking and ATMs, have achieved deeper penetration

· Mobile banking is burgeoning as a strong delivery channel

· Cost optimization has been the primary factor in green banking. Major Green banking initiatives have all basically dependent on cost savings, including paperless customer communication, electronic payments etc.These have resulted in a lower branch footfall through enhanced acceptance of alternate delivery channels

Month: Current Affairs - July, 2012