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The training programme can be delivered through three modes -- online as e-learning modules, online through live webinars/meetings and through in-person mode, a public notice said.
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Industry body IBA has invited bids from advisory firms and institutes to design and deliver a leadership development programme for public sector banks (PSBs) to prepare a pipeline of leaders in tune with the increasing competitive landscape.
The selected entity will design and deliver the training programme for senior officers of PSBs, including chief general managers (CGMs), general managers (GMs) and deputy general managers (DGMs).
The training programme can be delivered through three modes — online as e-learning modules, online through live webinars/meetings and through in-person mode, a public notice said.
The objective is to develop future generation of leaders who are digitally savvy, strategic thinkers with capability to build highly collaborative teams and create customer-centric organisations that thrive in a very dynamic competitive environment, it said.
“The Indian Banks’ Association (IBA) has been requested by the Financial Services Institutions Bureau (FSIB) to appoint an Agency/ Firm/ Institution to design and deliver a leadership development programme for Public Sector Banks in India,” it said.
The FSIB is an autonomous body of the Government of India. The mandated objectives of the Bureau include training and development of managerial personnel in nationalised banks and financial institutions in the public sector.
The FSIB aims to provide best-in-class training and development opportunities to the senior management of PSBs.
The programme aims to groom business leaders of the PSBs who shall be ready to assume top management and board-level positions and to drive long-term sustainable business in a competitive market place, it said.
The bidder is expected to have proven abilities to design, develop and deliver such a programme, including online e-learning modules on a standard Learning Management Solution (EDX, Coursera etc), it added.
The bidder will be selected under the Quality cum Cost Based System (QCBS) with weightages of 80:20 (80 per cent for technical proposal and 20 per cent for financial bid).
The last date for submission of bids is July 30. The pre-bid meeting will be held on July 16.
10:09 AM
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By Shubhangi Shah
Banking is already on our fingertips via mobile phones. The next leap of technology promises to bring a human touch to the digital experience with virtual interactions in the metaverse. Like what Union Bank of India did on Friday by launching its metaverse virtual lounge, through which customers can visit a bank without actually visiting the bank. As the bank’s chief technology officer (CTO) Rajiv Mishra told FE, “You choose a digital avatar for yourself, enter the bank lounge and access the available banking services. Currently, we are giving informative services through which customers can seek details on social security services, loans and other banking products,” adding that the service can be availed on both desktop and through virtual reality headsets.
With this, the bank has joined international and foreign banks such as JP Morgan Chase, HSBC and South Korea’s Kookmin Bank, which have already made strides into the metaverse.
Digital banking is set to become bigger, which will not only allow for remote access to services, but add a personal touch, as Rajesh Mirjankar, CEO of Kiyaverse, India’s first metaverse banking platform, explained. Launched by digital service provider firm Kiya.ai last month, Kiyaverse has witnessed keen interest from private and public sector banks and NBFCs (non-banking financial companies).
Pointing out what sets this new technology apart from the existing one, like mobile banking, Mirjankar said, “While digital banking is functionally interdependent and inclusive, it is all too often seen as being emotionally detached. The metaverse allows banks to use cutting-edge technology with a human touch that will significantly deepen and personalise customer interaction. It is an opportunity to restore the dialogues lost in digital channels.”
Sonali Kulkarni, lead, financial services at Accenture India, feels the same.
“Besides its potential regarding product and service innovation in payments, investment, insurance and loans, the metaverse is an opportunity for banks to foster deeper customer connects,” she said, adding, “It can help restore the in-person dialogues that are currently missing in digital channels and help create memorable experiences for the next generation of banking customers, many of whom may never need to step into a bank branch in their lives.”
Both Kiyaverse and Union Bank’s metaverse work on similar technological lines involving virtual reality and digital avatars. Right now, the Union Bank is “not going into the next phase where transactions and other services can be provided,” said the bank’s CTO, explaining that there are security and regulatory aspects that need to be taken care of.
Mirjankar also admits that the banking industry is still at a ‘nascent’ stage in the metaverse and that banks must consider adopting immersive technologies “for the future of business”.
Similarly, Kulkarni said as the world is moving ahead, “banks in India need to start evaluating their technological readiness for the metaverse, develop prototypes to help their employees understand its potential, and finally get ready to scale these prototypes rapidly.”
Emphasising ‘trust’, she terms it ‘paramount’ to the adoption of new experiences and that the metaverse must be developed with responsibility at the core – concerning ownership of data, security, inclusion and diversity, risk management, and other parameters.
Speaking about the need for a talented and skilled workforce, she said, “Just as banks need to cultivate digital, data, and cloud skills in their workforce to enable digital-native business models, they will need to hire talent or build skills for a future driven by the metaverse.” These include 3D artists, game designers, platform experts, and professionals with expertise in multiple blockchains.
Meanwhile, on being the earlier ones in India to launch into the metaverse, Union Bank’s CTO said other banks will be coming up with the same soon. “It is just a matter of days. Today, it was us who did it, tomorrow you will find others,” he said.
3:10 AM
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Inflation may ease gradually in the second half of 2022-23, Reserve Bank of India governor Shaktikanta Das said on Saturday, asserting that the central bank will continue to calibrate its policies with the goal of preserving and fostering macro-economic stability.
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