"Unless you internalise it's going to be a digital world...we will see a very quick evolution of this space in the next 10 years. It's not just bank but entire financial services space is set for disruption, not necessarily a negative way, it can be also in a positive way," the former president of New Development Bank said.
Speaking at the Times Network India Economic Conclave, he said disruption will bring down transaction costs dramatically.
For example, technology has brought down the intermediation cost for micro-credit, Kamath pointed out.
He said bankers need to reinvent their mindset and re-engineer themselves.
They must be on top of technology at all times, he added.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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