Financial technology precisely referred to as fintech, and its impacts on the banking department turned into a great discussion in the past few years. Many financial experts are however already familiar with disruptive technology and how it makes financial services more suitable and convenient. Anil Chaturvedi has been able to develop an incredibly successful career in the banking department all across the three continents over the past 40 years. His input and activities have enabled the banking industry through a dramatic transformation. It is due to his experience and extensive knowledge that fintech trend has recently been put into context. It can also instill some valuable perspective to the fresh graduates in the banking industry.
As Hinduja Bank Managing Director, Anil Chaturvedi joined the State Bank of India in the early seventies, most of the banks were attempting to enhance and upgrade their services for their clients by imparting technology in their services. Banks were the first to come up with the idea of credit cards in the fifties. The banks are also responsible for internet leverage in the nineties when they became widespread and wanted to develop online banking services to its clients. Anil Chaturvedi professionalism helps us to clearly and exhaustively outline the impact and effects of fintech on the banking industry.
As per Google Trends, the fintech discussion reached its climax in late 2017. In this discussion, the more significant percentage was speaking of how the new competitors would interfere with banking industry where much of the debate was about how the big and well-established banks would be beaten by many of the small and weak, consumer-focused startups. However, this has not imparted high expenditure to the industrial leaders despite that most of the financial technology startups have experienced tremendous and incredible success. Unlike many, the expectations of many people, the banks that were established by the renowned banker Anil Chaturvedi ion the early 70s and 80s are still active and intact. Their success is grounded in the fact that these banks have partnered with the fintech startup instead of fighting and negating them. This partnership has resulted in the survival of these banks. Thanks to Anil Chaturvedi for his unique strategies and techniques in the financial industry.