Technological advancements are reshaping industries worldwide, and the banking and financial services sector is at the forefront of this transformation. In retail banking, the adoption of innovative technologies has substantially improved customer experiences, enhanced operational efficiency, and extended market outreach. However, the integration of digital solutions also introduces challenges related to cybersecurity, digital literacy, and…
In today’s rapidly evolving financial ecosystem, technological innovation in the banking sector is largely propelled by changing customer expectations and strategic internal imperatives. Advancements in technology have enabled banks to establish self-service branches—such as those located in business lobbies—that operate efficiently without the need for dedicated on-site personnel. These branches are now capable of offering…
IntroductionThe Indian banking sector has experienced a remarkable transformation, evolving from manual processes to a digital-first ecosystem. From the early days of ATMs and electronic fund transfers to the rise of mobile apps and AI-powered banking, technology has played a pivotal role in reshaping the way financial services are delivered and consumed. Key Drivers of…
The banking landscape has undergone a profound transformation over the past decade. Today’s customers interact with their financial institutions through smartphones, intelligent budgeting tools, and AI-powered financial assistants that provide real-time insights and tailored recommendations. Banking technology now encompasses multiple dimensions that are reshaping the delivery and experience of financial services. These include core banking…
Wealth management solutions comprise a suite of comprehensive financial advisory services aimed at assisting individuals and families in growing, preserving, and strategically distributing their wealth. These solutions typically include investment management, financial planning, estate planning, and tax optimisation. In today’s increasingly digital landscape, client relationship management has become more dynamic and interactive. The adoption of…
The Indian Banking Community Cloud (IBCC) is a secure, cloud-based infrastructure designed specifically for Indian banks. Developed by the Institute for Development and Research in Banking Technology (IDRBT), the IBCC enables collaborative resource sharing, cost optimization, and efficient service delivery within the Indian banking ecosystem. Launched on August 2, 2013, IBCC supports banks—especially new and…
The Institute for Development and Research in Banking Technology (IDRBT) is an autonomous institution established by the Reserve Bank of India (RBI) in 1996. It was set up as a society under the Societies Registration Act to serve as a center for research and development in banking technology. Since 2004, the Institute has been financially…
The Reserve Bank of India (RBI) has issued the Digital Lending Directions, 2025, to regulate the rapidly evolving digital lending ecosystem in India. Digital lending refers to the end-to-end automated loan process conducted remotely using digital platforms, encompassing customer acquisition, credit assessment, loan approval, disbursement, servicing, and recovery. While digital lending has significantly enhanced credit…
The Indian Financial Network (INFINET) is a Closed User Group (CUG) Network for the exclusive use of Member Banks and Financial Institutions. It was set up by the Reserve Bank in 1999 through the Institute for Development and Research in Banking and Technology (IDRBT) Hyderabad. The Institute explored capability, methods, procedure to expand the network…
The Ministry of Finance, Department of Financial Services Government of India in its letter dated 17th July 2012 had advised all the public sector banks that “No PSB can issue any LC or BG after 01.08.2012 except through SFMS system”. Further, the department has advised that the IFN 760 COY Bank Guarantee Message and IFN…