Doha Bank deputy CEO R Seetharaman has said technology is the driving force behind today’s financial services industry.
Addressing students at the Carnegie Mellon University in Qatar at a function hosted in his honour, Seetharaman said globalisation, consumerism and deregulations are the key drivers of change. “In today’s competitive environment, differentiating factors that decide the success of an organisation are providing better value to customers, one hub 24/7 back office, reduction in processing costs and excess capacity and flexibility to meet the change. These factors will equip an organisation to anticipate a change and implement a successful strategy to march ahead of competition in the market,” Seetharaman said. Speaking to business administration and computer science students, Seetharaman outlined “the paradigm shift in banking.” He shared the success story of Doha Bank with the students and explained how old traditional banking services have moved to a broader set of financial services that demand analysis, product differentiation, collaboration and aggregation. Seetharaman acknowledged that the transformation was the result of various complementing factors introduced by the bank, such as customer-centric technology integration with the business, effective development of knowledge-based workforce, foresightedness of the board of directors and an ever willing support of loyal customers.