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Mangalore, Oct. 15 The attempts at innovating, especially in banking, will be much better if efforts towards realigning or re-engineering the processes involved are better planned, according to Mr B.R. Bhat, General Manager of Corporation Bank.

Without innovation, the world would lose much of its momentum in progress and development. Innovation is the index for dynamism towards ushering in a vibrant and progressive and constantly surging world, he said.

Mr Bhat was inaugurating Magma 2008 — a business-school meet organised by the Srinivas Institute of Management Studies, Mangalore — here on Wednesday. This year, Magma focussed on the theme innovation.

Speaking on innovations in banking sector, he said that increase in computer literacy has created a new crop of customers, who are well-informed, demanding and who want to transact most of their banking business at their convenience.

Stating that customers always look out for that extra bit of “comfort level” in transacting all their daily businesses, he said this comfort level is provided by innovation.

Ultimately, innovations are to focus on customer satisfaction, as a satisfied customer is the one who drives a business forward, he added.

More Stories on : Education | Banking | Karnataka

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