CloudBus

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 conv...

The Indian regulator Reserve Bank of India (RBI) has recently agreed to provide licences to a number of new Banks in India with a caveat of serving the under banked population. The promoters of these Banks will be scurrying with their consultants to hire CIO/CTO from other Banks to get off their Core Banking Systems off the ground before they can launch their banks. It will be good for them to pause for a moment and consider Cloud Computing as a vehicle for their technology launch and here are some of the benefits Cloud Computing will be the dawn of a new technology paradigm for Indian Banks.  Time to Market will be in weeks rather then months so they can start their operations ASAP, especially if they adopt a SAAS based Banking solution. (e.g. the cloud based core banking solution offered by NABARD through Wipro and TCS). They will operate in an Opex model, which means capital will not be locked into traditional technology capex investments.  Agility ...