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Prasenjit Das

Senior Director

Virtusa

Member since

09 Feb 2015

Location

Hyderabad, India

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Prasenjit's opinions

A brief peek into the Framework for Adoption of AI in Banks from ECB

The publication ‘The rise of artificial intelligence: benefits and risks for financial stability by ECB’ gives a view with some deep fundamental insight into the hottest star around – AI. It touches on the conceptual aspects and more importantly acknowledges the evolving aspect of the scientific understanding of the technology itself & thus t

17 November 2024 /ai Artificial Intelligence and Financial Services

Reprioritizing the ‘Trade Finance Transformation ‘in Banks as the world awaits ‘Electronic trade doc

The inefficiency around paper documents in Documentary credit is well known and Banks are in different stages to implement change based on their processes and technological maturity to mitigate those. Some changes have FinTech partners as they touch the pain points through Trade portals, Discrepancy check automation and electronic documents pla

06 March 2023 /wholesale bankIO

Can Banks break the Missing Middle with technology in addition to just Credit lines?

A breakup of Business Banking in the UK. 5.5 million businesses were small (0 to 49 employees) forming 99.2% of the total count of private sector businesses, followed at a distant by 35,600 businesses were medium sized (50 to 249 employees) and finally large business counting to 7,700 businesses. By and large the proportion is same across other

16 January 2023 /wholesale /predictions Banking Strategy, Digital and Transformation

Electronic Trade Documents Reform - A Successful Model and Lessons Learnt

Lessons for Banks The Unified Payment Interface (UPI) which effects money transfers across Banks in India and developed by the NPCI has been duopoly of two FinTech- Google Pay & PhonePe. Ironically NPCI was set up by India’s’ central Banks & a consortium of Banks including Citi Bank & HSBC. Inter Bank payments which otherwise is someth...

30 December 2022 /wholesale Electronic invoicing

Advent of 5G ! Can Banks do what Uber did in 4G?

Innovation Landscape – Opportunities in Open Banking Customised/New Product Process and People Alignment Advent of 5G Advance in Data & Analytics Progress in Natural Language Understanding & AI Table of Contents 1. Introduction. 4 2. Business Driver. 5 3. What We Have Today. 7 4. Appro

17 September 2019 Banking Strategy, Digital and Transformation

Apple Pay turns '1' -The Myth of Fintech Disruption

Apple did pick up a big compartment within the financial services industry that can be potentially revolutionized by a tech innovation almost a year ago when it launched the Apple Pay. At the event Chief Executive Officer Tim Cook sounded quite collaborative when he described that the magnetic stripe card payment process as broken for its reliance...

05 October 2015 /payments

Fintech Insurgency - Disrupting IT Outsourcers Silently By Partnering The Banks

Accenture’s not talking about outsourcing so much these days, but can pitch a strong digital message, says CEO Pierre Nanterme which resonates across the Atlantic when Andy Murray, British tennis ace made headlines recently and this time it’s off the court by teaming up with Seedrs, an up-and-coming British crowdfunding platform through which smal...

22 August 2015 /startups

Confronting the digital disruption - A Banks’ Anti Dote

Francisco González, chairman and CEO of Spanish banking group BBVA states that 50% banks in the world could disappear by ignoring digital transformations and that BBVA will be a software company not a bank anymore by 2020, he points out the disastrously antiquated systems incl. IT systems, "spaghetti" systems totally unable to cope with ...

12 July 2015

Anti-Money Laundering From False Positives To Real Positive With Predictive Modelling And Big Data

The False Positives “If any financial crimes compliance people out there have just plugged in a monitoring system and think that they’re done you’re going to be flooded with alerts without any context,” warned Bank of America’s Bill Fox .This explains why most banks have conversion rates that are more like 5-7% .Banks need to go beyond their mon...

24 May 2015 /regulation

Social Media Banking as keystone of the Digital Transformation Arch

As we overcome the ‘hype cycle ‘ with mushrooming technology innovations , banks in their quest for a ‘Next generation Banking ‘ model with ‘social media’ will have a forward integration with the digital bank & the backward liaison with the ‘intelligent (based on analytics) multichannel’. The upstream taking care of the integrated multichann...

31 March 2015 /retail