State Bank of India – Digital Transformation Strategies

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State Bank of India (SBI) has been focusing on AI-led innovation as a part of its digital transformation strategies. The annual ICT spending of State Bank of India was estimated at $1.8 billion in 2021. A major share of this spending is earmarked for acquiring Network and communications, ICT services, and software from vendors. State Bank of India is an Indian public sector statutory body offering banking and financial services, it provides a range of personal banking, corporate banking investment, government banking, SME banking, and rural banking services to individual, corporate, government, and institutional clients. The State Bank of India Digital Transformation Strategies report will act as a reference point to understand a company/competitor’s digital strategy. It will also help in understanding the digital preparedness of the company against its peers. Information included in these reports are sourced from a mix of our very own internal database and authentic secondary research links such as company’s annual report, presentations, press releases etc. The report covers overview of the company, its digital transformation strategies, technology focus areas, technology initiatives, technology introductions, investments, ICT spending among others.

Digital Transformation Strategies

SBI has been actively leveraging the capabilities of artificial intelligence to digitally transform its banking operations. For instance, the bank launched video Know Your Customer based savings account opening via its YONO mobile banking app. The feature uses AI and facial recognition technologies to allow customers to open a digital savings account through the app AI based tools also enable the bank to identify branches that are prone to fraud and suspicious chargeback complaints.

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State Bank of India Technology Theme Focus

State Bank of India is utilizing number of emerging technologies including artificial intelligence, big data, and blockchain to enhance its operational and service capabilities.

State Bank of India Technology Theme Focus

State Bank of India Technology Theme Focus

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State Bank of India Technology Initiatives

SBI partnered with US based AI company Hyperverge to use its video KYC solution. SBI deployed Hyperverge’s solution as part of its YONO mobile app to allow customers to open savings account remotely without having to visit a branch. The AI powered solution allows customers to complete account opening via a video call.

For more insights on other technology initiatives of State Bank of India, download a free report sample

State Bank of India ICT Spend by Function

  • Communications
  • Data center
  • Network
  • Application
  • End-user computing
  • Service desk
  • Management

State Bank of India ICT Spend by Function

State Bank of India ICT Spend by Function

For more insights on ICT spending by function, download a free report sample

State Bank of India ICT Spend by Channel

  • Internal development and maintenance
  • Technology vendors (direct)
  • Local resellers
  • Telcos
  • ICT services providers/Consulting firms
  • Specialist outsourcers
  • Systems integrators

State Bank of India ICT Spend by Channel

State Bank of India ICT Spend by Channel

For more insights on ICT spending by channel, download a free report sample

State Bank of India External ICT Spend by Segment

  • ICT services
  • Software (including Cloud SaaS)
  • Hardware (including Cloud Iaas)
  • Network and communications
  • Consulting
  • Others

State Bank of India External ICT Spend by Segment

State Bank of India External ICT Spend by Segment

For more insights on external ICT spending by segment, download a free report sample

State Bank of India Digital Transformation Strategies Overview

Total ICT Spending 2021 $1.8 billion
ICT Spend by Function Communications, Data Center, Network, Application, End-User Computing, Service Desk, and Management
ICT Spend by Channel Internal Development and Maintenance, Technology Vendors (Direct), Local Resellers, Telcos, ICT Services Providers/Consulting Firms, Specialist Outsourcers, and Systems integrators
External ICT Spend by Segment ICT services, Software (including Cloud SaaS), Hardware (including Cloud Iaas), Network and communications, Consulting, and Others
Technology Theme Focus Artificial Intelligence, Big Data, Blockchain, Cybersecurity, and Payments

This report provides:

  • Insight into State Bank of India’s technology activities.
  • Insights of its digital transformation strategies and technology center & innovation program.
  • Overview of technology initiatives covering partnerships and investments.
  • Insights on each technology initiative including technology theme, objective, and benefits.
  • Details of estimated ICT budgets and major ICT contracts.

Reasons to Buy

  • Gain insights into State Bank of India’s technology operations.
  • Gain insights into its technology strategies and innovation initiatives.
  • Gain insights into its technology themes under focus.
  • Gain insights into its various partnerships and investments.

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Table of Contents

Table of Contents

Overview

Digital Transformation Strategy

Incubation and Innovation Programs

Technology Focus

Technology Initiatives

Investments

Partnership and Investment Network Map

ICT Budget and Contracts

Key Executives

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