Cash in on ‘Technology Banking’ trend

Pervin Malhotra

A number of students with a BTech or BE degree are keen to work in the financial services sector, and banking in particular. But their key concern is— Would I be a good fit as I have not done BCom or economics etc? 

Well, here’s an answer to that;  

‘Technology Banking’ is the name of the game, today.  Proof: Two of the country’s largest private sector banks plan to hire 5,000-odd fresh graduates, with a greater emphasis on tech talent. Design skills, which were previously not a focus area for banks, are also now in demand.

So while Kotak Mahindra is including engineering colleges in its campus outreach activity for the first time this year, Axis Bank is visiting NID for the first time.

Kotak Mahindra Bank plans to recruit 2,600 fresh graduates this year (60 per cent for frontline acquisition roles, 20 per cent for service roles, 15 per cent in our in-house contact centre and the rest for operations and various other roles across segments).

Axis Bank is looking at hiring 2,300+ fresh graduates (2,000 for entry-level roles). 200+ will be hired from B-schools and 100-odd from IITs & NITs).

While IT and Analytics remain their focus area, they’re also looking at hiring in risk, compliance and cyber security roles this year.

There’s a sharp increase in demand for highly specialized talent in fields such as analytics, digital banking, artificial intelligence, and information security alongside the surge in requirements for core banking roles: acquisition, relationship and service.

There’s also a shift in the deployment of new recruits with increased emphasis on taking digital banking to the under-banked sections of the economy by State-run Banks that recruit through all-India entrance exams based on ongoing vacancies in different verticals.

Digitalisation has wrought a continuous disruption in the financial services sector. While banks are fast adapting to the digital trend, these new services require manpower to reach deeper pockets, to engage with customers and provide them with a seamless banking experience.