IT in Banking Summit 2012 held in Mumbai
Mumbai: Adoption of new and efficient technologies is helping Indian banks build their competitive edge. The drivers of this adoption are growing use of safe and secure net banking facilities, launch of mobile banking by various banks and RBI's push for financial inclusion.
According to Frost & Sullivan the spend on banking technology is expected to be around 20 percent of the total expenditures by banks and will grow at an annual rate of 14.2 percent.