Latest opinions that Nanda Kumar has shared on Finextra

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Nanda Kumar

CEO

SunTec Business Solutions

Member since

03 Sep 2013

Location

Trivandrum

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Nanda's opinions

Can customer-centricity solve banks’ productivity problems?

Today banks face a major profitability challenge 2018 is set to be a momentous year for banks as transformative regulations come into play. PDS2, MiFIDII and GDPR have been announced to be earthquakes that will shake the entire banking industry. While we may not yet see their full effects, we are already feeling the tremors. The transformation e...

01 June 2018 Trends in Financial Services

2008-2018, two turning points for the financial services sector

10 years after the last financial crisis, a new upheaval in banking It’s been 10 years since the global financial crisis, considered by many to be the worst since the great depression. New regulations like the Banking Act of 2009, the FSA Remunerations Code, Know Your Customer (KYC), accompanied by stress tests, have been put in place in this dec...

04 May 2018 /security /regulation Banking Regulations

High stakes: become a true value aggregator or lose your market share

The top twenty European banks manage a combined total set of assets worth £18.26 trillion, with HSBC leading the charge at £1.84 trillion. This is a vast amount of money for only twenty companies. Traditional banks have almost monopolised the market across the globe for the past hundred years or so. Recent years have seen successful disruption, a...

07 September 2017 /regulation Digital Banking Trends

Are APIs the new goldmine for banks?

The Post API World The future of banking is being completely altered by the Payment Services Directive 2 (PSD2) which comes into play in January 2018. PSD2 opens the floodgates to financial services innovation. Instead of making banking more complex, PSD2 is forcing banks to open up their systems of record to third parties, including non-traditio...

12 July 2017 /regulation Trends in Financial Services

The challenges banks are facing with Open Banking

Banking in the modern world Pairing technology and money is very common, we are used to hearing about the vast sums being pumped into Silicon Valley start-ups. What is less common is technology and ‘money’ working together. Challenger banks, such as Monzo, are aiming for this to be a reality, by making banking transparent and simple. The emergenc...

12 June 2017 /regulation /retail

Customer obsession is the only way banks will survive

Being customer obsessed We are in the age of the customer. A single tweet takes 22 minutes to go from insignificant to global, seen recently with Delta Airlines whose reputation was annihilated on social media and in the press. Who wants to be next in line? To prevent this companies should become customer obsessed. Fred Giron, VP and Research Dire...

26 April 2017 /retail

Simplifying and standardising the Indian taxation system with GST Act

Since the 2016 World Economic Forum, the Fourth Industrial Revolution has become one of the most talked about movements. India is at the forefront with rapid digitalisation across industries. Digitalisation coupled with adoption by a large untapped population is redefining businesses. The Indian economy is proving to be one of the most digitally...

06 March 2017 /retail

Demonetisation: The cash conundrum

Digitisation of banking Over the last five years the UK has seen a dramatic increase in contactless payments, with £2.9 billion spent last year, up 184% from 2015. Sweden is expected to become cashless by 2020 and South Korea is encouraging people to give up their coins. Those societies are all linked as they aim to evolve into cashless economie...

31 January 2017 /retail

How can banks take the pressure out of stress tests?

Last year has been a rocky year for banks and financial markets. 2016 was a year of major fluctuations, driven by political changes across the world. The markets have reflected these turbulent times, with the greatest number of fluctuations the market has seen in 50 years. Banks have to mitigate these risks and adapt to new market changes. Banks h...

09 January 2017 /regulation

Does IoT impede or support the future of banking?

The internet looks set to advise many aspects of our lives from the moment we wake up in the morning until the moment we go to sleep. Even the humble toaster can be connected to a wireless network whilst heating up bread for our breakfast. Since the inception of Internet of Things (IoT), over 50 billion devices have been connected to the internet...

07 December 2016 /retail