If you’re considering an expansion of your digital services while still being mindful of cybersecurity and safety, this issue is for you!
We speak to Anshu Sahai – Vice President of Technology at Bandhan Bank to gain insight into how to evaluate software to supplement your bank’s unique goals & growth structure.
Choosing The Right Tech
As more and more banks are thinking seriously about their digital growth and transformation, we thought it would be interesting to sit down with someone from a major bank to dissect how they are approaching it.
Recently, Anshu Sahai – Vice President, Technology at Bandhan Bank spoke to use about the bank’s tech growth, how they evaluate new software, and more!
Tell us about yourself and Bandhan Bank.
Sure! Hello, everyone. I’m Anshu, overseeing technology for cards and payments, as well as managing LOS and collections across all assets at Bandhan Bank.
Bandhan Bank began its journey 23 years ago in 2001 as Bandhan Financials, focusing on microfinance, particularly lending to entrepreneurs who were primarily women.
In 2015, we evolved into a universal bank, offering a wide range of products and services, including assets and liabilities.
What has your journey with technology been like so far?
Our digital journey was sparked by the need to enhance our operations, particularly in microfinance and unsecured lending, which have been our main focus since 2001. Despite growing organically, we reached a point where our scale required more streamlined processes, prompting a shift towards leveraging technology.
The pivotal moment came in October last year when we transitioned from an outsourced, SAS-based core banking platform to an in-house system. This move was crucial for managing our sizable asset book effectively.
When did you realize the need for a more robust system?
Concerning collections, while we maintained decent efficiency, the onset of the COVID-19 pandemic highlighted the need for a more robust system to handle delinquency. Although we had previously engaged with a vendor in 2021, it wasn’t until after our core banking platform migration that we began seriously evaluating our options.
How did you evaluate software and make sure it’s right for you?
After deciding to explore options beyond our initial selection in 2001, we conducted a comprehensive evaluation of other potential partners. This evaluation encompassed rigorous assessments of functionality, technical capabilities, and commercial viability. We presented these potential partners with challenges specific to our unique approach to microfinance, particularly in handling group loans, from acquisition to collections and delinquency management.
