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Achieving High Performance in Information Management — Accenture partners with the Indian Banks’ Association
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Accenture, in association with the Indian Banks’ Association (IBA), hosted an executive briefing session on “Achieving High Performance in Banking through Information Management,” in Mumbai on May 22, 2009.

The knowledge sessions and panel discussion covered key aspects of effective information management—including effective data management, creating an integrated view of customer, key challenges faced by Indian banks in information management and outsourcing of information management.

The panel discussion was moderated by Hari Mishra, editor of CRO magazine, and the panel elaborated on key issues facing banks in achieving effective information management. The panelists included Soumendra Mohanty, lead–AIMS Capability, Accenture in India; Umesh Jain, CIO, Yes Bank; Srinivas Yanamandra, chief manager–Compliance Group, ICICI Bank; Ajai Kumar, GM-IT, Bank of Baroda; and Rajeev Panikath, senior vice president, Axis Bank.

Here are the key points that emerged during the panel discussion:

Integrated View of the Customer

There is no denying the need and importance of an integrated view of the customer, the steps towards which have been varied:

Public sector banks still continue to largely operate in the branch model. The steps towards a "one-stop shop" experience are yet to gain significant momentum.

Private sector institutions have been slowly moving towards this goal with varied degrees of success and impact. The results are still in silos—either consolidating products/services but lacking interaction view, etc.

The organisations that have invested and matured in their attempts to consolidate customer information are now struggling to operationalize the intelligence gained from the integrated view they have created.


Key Challenges faced by PSU banks in India

Most of the banks have disparate systems in place, reducing the efficiency of information management.

When a data management process is undertaken, the duration of the exercise is fairly long—somewhere down the line, front-end products take precedence and the rest of the DM process gets left behind/loses focus.


Outsourcing of Information Management

Need to have foolproof privacy laws in place for effective outsourcing.

Before undertaking an outsourcing activity, the principles of the outcome of undertaking the process of information management need to be determined.