"Technology becomes a toy if you do not have a proper plan to deploy it," said Infosys Technologys vice president Mr Hargopal speaking at Bank.Net- 4th International Exhibition and Conference organised by Exhibitions India Pvt Ltd.
He further added that systems and processes have to be reinvented and technology should be considered an enabler to make the processes more efficient and should not drive the way processes are made.
Also speaking at the seminar UTI Banks senior vice president, VK Ramani said: "IT has evolved a great deal in the past two decades and in the next stage we will see the era of electronic money with the point of sale terminals multiplying in the country."
Highlighting the importance of technology to a banks operations he mentioned that what is needed is exact information on demand for all segments to increase efficiency.
EMC Indias regional director, Venkatesh Iyer stated that safety and accessibility of data and information has gained added importance in the post September 11, world.
"Today businesses are more vulnerable due to their dependence on technology and disasters can have far reaching implications because of this dependence. Downtime costs have increased significantly and the risk of information unavailability is larger than ever before," emphasised Mr Iyer.