The tools of banking have evolved rapidly—from passbooks and ledgers to core banking platforms, mobile apps, real-time payment systems and artificial intelligence, remarked Swaminathan J, Deputy Governor, Reserve Bank of India. These tools define how services are delivered, how decisions are made, and increasingly, how risks are managed. In this environment, a bank’s technological capabilities are no longer just operational enablers; they have become strategic differentiators.
However, every tool comes with responsibility, Swaminathan, speaking at the 109th Foundation Day of the Karur Vysya Bank, noted. The speed and scale of digital adoption must be matched by equally strong investments in cybersecurity, data governance, and ethical safeguards. Recent global and domestic experiences have shown that technology gaps, if not addressed in time, can become points of systemic vulnerability.
He further stated that for banks looking to scale up responsibly, tools must be modern, agile, and continuously evolving. More importantly, they must be well-governed. Technology must never outrun the organisation’s capacity to manage it. Directors and senior management must lead this conversation, ensuring that risk, compliance, and internal audit functions have the resources and visibility needed to keep pace.