The Management Development Program organized by NASC for senior level officers of RBBL is ongoing. Module 4 was planned to present on the different topics about Future of Banking. In this regard Group B presented on the topic "Digital Transformation in Banking". Mr. Ganesh Chandra Poudel acted as Master of Ceremony and the event was chaired by Mr. Narayan Prasad Lamichhane. The presentation was done by Mr Bimal Dangol and Damodar Jnawali, similarly Mr. Rishi Ram Dhakal was rapporteur. Mr. Shiva Prasad Chalise managed the event. We analyzed the topics on different 12 points with opening and closing remarks.
In this event all the faculty members from NASC were invited. Chief guest was Dr.Rajan Khanal, Executive Director NASC. Mr Bishnu Prasad Lamsal and Mr. Anand Raj Khanal were special guests.
As per the session, Digital transformation is the process of integrating digital technologies into all aspects of a business to meet the market and changing business requirements. Organizations shall update their systems, processes, organizations and culture for digital transformation. The presentor concluded the session by informing Digitization to Digitalization and Digital Transformation, the improvements in technologies have been increased from evolutionary to revolutionary. The resulting changes have contributed to efficiency and never-seen-before adaptation of changes in banking and other related sectors. Efficiency has been the result and this paradigm shift is the new buzz. Developing products around this shift, and remodeling businesses by banks with arsenals of digital strategy is one progressive development. The pesentation also recommends that instead of obsessing about fraud, cost savings, sanctions, and market-driven definitions of efficiency, the starting point should be on how welfare budgets could be transformed through technology to ensure a higher standard of living for the vulnerable and disadvantaged. Concepts of AI, BI, Big Data & Analytics, Machine Learning, Mobile Banking, Block Chain and Digital Currency have changed the entire financial landscape with no stoppage in sight for the transformation. Traditional banking is a thing of the past now. The creation of a resilient and agile economy with the environment for sustainable financial innovation shall create a base for a progressive digital future in the ever-dynamic world.
After the presentators Mr. Bimal Dangol and Mr. Damodar Jnawali presented the slides Mr. Pramod Adhikari and Mr. Riko Sthapit commented from group "A" for on the topic. They commented in different digital aspects like as Blockchain and its effects in banking, digital currency and its impact in Nepalese economy. Similarly, chief guest commented on slides and suggested it would be better if the content was reduced in limited sub topics, and appreciated on the presentation and broad area covered. Shailaja madam also imposed on what would be the impact in economy by transforming in banking.
