Creative management of information could give banks a competitive advantage, according to a banker.
Addressing the members of Bankers’ Club of Mangalore here, M.V. Nair, Chairman of CIBIL (Credit Information Bureau India Ltd), said technology-based products such as internet banking, mobile banking, debit and credit cards and ATMs, have already been commoditised. They no more offer a competitive edge to banks.
“In such a situation, creative management of information alone could give banks a competitive advantage,” he said.
Nair felt public sector banks and old generation private sector banks could utilise the available information more effectively for formulating their business strategies.
Banks could make use of information available with CIBIL for this purpose.