Outsourcing and Multi-sourcing in Banking Industry

As presented in the National Seminar on Banking Divergence , Organised by Department of Commerce and Management Studies, Sri Achutha Menon Government College, Thrissur, Kerala – 21st February 2012

A STUDY ON THE TRADITIONAL OUTSOURCING VS. MULTI-SOURCING IN BANKING INDUSTRY

– with special reference to Business Process Outsourcing

ABSTRACT

Banking Sector is termed as an industry because of the vast spheres in operations. The banking industry in India has been on a boom with the minimizing of risk involved in cash trading and transactions. Banks play as secured institutions with the internet transactions being the fastest and safest mode of transferring money which is an accepted fact world over. The banks started getting closer to common people as the explored avenues in retail. Most of these banks within the banking industry have provided the consumers with so many products and services that it is impossible not to fall for their products. They offer various schemes on their products, like offering free gifts or higher returns for family savings account.

As globalization continues to grow, banks in mature markets will look to outside expertise from global providers. Technology is a key driver in the banking industry, which creates new business models and processes, and also revolutionizes distribution channels. Banks which have made inadequate investment in technology have consequently faced an erosion of their market shares. The beneficiaries are those banks which have invested in technology. Adoption of technology also enhances the quality of risk management systems in banks. Recognizing the benefits of modernizing their technology infrastructure banks are taking the right initiatives. In this context banks need to clearly define their core competencies to be sure that they are investing in areas that will distinguish them from other market players, and give them a competitive advantage. A further challenge which banks face in this regard is to ensure that they derive maximum advantage from their investments in technology and avoid wasteful expenditure which might arise on account of uncoordinated and piecemeal adoption of technology; adoption of inappropriate/ inconsistent technology and adoption of obsolete technology. This paper will provide the readers with an understanding of the transformation from traditional outsourcing to modern multi sourcing concepts in the banking industry. It also highlights the challenges and trends in the banking industry which is influenced by globalization and technological advancements.

Key words: BPO, Technological Advancements in Banks, Banking divergence, Multi sourcing in Banks

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The Proprietory Vs. Open Source Software in Management Education

As published in RESEARCH SCHOLAR, Volume I No.II-B December 2011, ISSN 2249-6696

THE PROPRIETORY VS. OPEN SOURCE SOFTWARE

Making the Right Move with IT in Management Education

Abstract

This paper is a sincere effort to discuss the impact of the open and free source software over the patented software in the field of Management Education. It also throws light into the role of the Government of Kerala – one of the pioneers in the free and open source software revolution in education in India. The various useful and important software that a Management student will have to deal in his/her curriculum is discussed. A Comparison of GNU/Linux (free source software) with the other proprietary software with special reference to the Management education reveals the effect of the software with regard to its cost and usability. This paper will provide readers with an understanding of both open source and proprietary methodologies and help explain why GNU/Linux and open source is possibly the driving force behind the future of computing which would naturally have an implication in Management Education as well.

Key Words: Patented software, FOSS, IT in Management Education

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introA Piece of advice from the teacher’s desk …….

The project work aims at developing the nature and scale of operations that the students would face after completing their course. The totality of knowledge and skills gained by the students in their MBA course is further developed through the project work. The subject based classroom learning can be related to its application at work place.

It helps in grooming and shaping them with effectiveness and efficiency in all the assignments that awaits them in the industrial set-ups. It helps in developing special skills like communication, inter-personal, attitudes and values and overall its boosts their confidence level. The various aptitudes and strengths of the students to handle actual work situations, identify problem-solving techniques are focused upon.

Before choosing an area of study the students should devote time in assessing his/her strengths. Its well said that, a good project work will always add flavour to the resume, but care should be taken to avoid too complex topics, that the students cannot handle. The students should try to explore an area which matches with their interest, area of specialization, recent trends/developments and also which has professional values that would transform the students into best-fit for placements.

The students should visit the organization well in advance and identify the possibilities of undertaking the project work. Define the research problem, fix the objectives of your study and identity the various types and their sources of data collection. The students have to consult with their respective faculty guide/supervisor on regular basis and plan their project work.

All the best…….

Dr. G.S. Sandhya Nair

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