New Indian Banks need to ride the cloud for their Success

Come January we will have 7 new Indian Banks given licences to operate from the many applicants.
The new licences will be given with conditions attached for rural thrust in banking and also social banking.
As the applicants eagerly await their licences and start head hunting for their leadership the promoters will need to review whether Cloud Computing could be the Elixir for getting them operational in weeks rather then months.
Cloud computing will give them reach to the remote rural hamlets in India and also be effective, reliable and a secure vehicle to reach banking technology to the 40 million unbaked Indians.
As the head hunters set the wheels in motion to hire the new suite of leaders to put execution plans into action it may the time for the Board of these promoter Banks to consider Cloud Computing for their profitability, agility and secure banking.

Are New Indian Banks Ready to Fly into the Cloud ?
Photo by Amitav Thamba

Hiring Technology leaders from the conventional technology banking landscape may be disastrous for these banks who will need to hit the ground running.
The good news is a few of these new banks could be Micro Finance institutions who are already using the cloud and they will surge ahead of the other Banks who use conventional wisdom in rolling out banking solutions the old way.
Indian Banks need to learn from cloud deployment for banking in Latin America and Africa and learn from their experiences in providing reliable and affordable financial services to their customers.
Are the new Indian Banks prepared to ride the cloud for their success ?

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