The banking sector will be driven by technology in coming days with more applications being run in cloud, believes Dilipkumar Khandelwal, Global Chief Information Officer for Corporate Functions and the Global Head of Technology Centres at Deutsche Bank.

According to him, more and more technology and applications will be run in cloud and Deutsche Bank has already moved in that direction and is partnering with Google for their cloud solution.

“That is one of the boldest steps we have taken in Deustche Bank. Cloud is our future and we will move a lot of these applications or recreate and refactor them into the cloud world. We did our letter of intent with Google. We are building a partnership with an ultimate view that a lot of applications will be hosted on public cloud,” Khandelwal told BusinessLine in a recent interaction.

Big cloud providers are investing heavily in security and safeguarding the data. They are experts on infrastructure and are doing a lot of work to ensure that data is protected in the best possible manner, he further said.

Tech hub

Underlining the use of technology in banking, Khandelwal also said India is emerging a tech hub for the sector.

“Banking will be one of the sectors where technology will play a massive role in terms of service being offered to customers. Technology in the banking sector needs to be in the front,”he said, adding that India will be the technology hub for evolving banking of the future.

“India is very attractive, especially for the financial sector. There is availability of banking knowledge as well as quality talent. India also has a great start-up culture and a lot of start-ups are trying to solve issues on communications, payments, KYC which all impact banking technology directly,” he further said.

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