Technology Will Be the Deciding Factor
Banks' ability to transform themselves with speed and agility to survive the next revolution will determine the winners and losers A push for products that consume less capital has helped Federal Bank build a rock-steady institution HDFC Bank refused to compromise on profitability and tapped semi-urban and rural markets to emerge far ahead of rivals The methodology behind the BT-KPMG Best Banks Survey 2020 Focus on operating profit and building a low-cost franchise have helped the country's second-largest private bank claim the top position Travel-focussed payment solutions firm PayMate hit a roadblock post Covid-19, but focus on other areas such as invoice discounting helped in damage control Rapid digitisation and scaling up of non-banking businesses, from cards to insurance and MFs to YONO, have helped SBI transform itself Laser-sharp focus on asset quality helps Utkarsh maintain lead over others From digitising employee benefits to powering Fintechs and neo-banks to providing seamless digital services, Zeta has been upping its game