Mangalore : “Of the various trends and technologies in the emerging markets banking landscape, mobile banking is unarguably the front-runner,” said Justice MN Venkatachalaiah, former chief justice of India.

Delivering the Karnataka Bank Founder’s Day address on “Banking in a Fast Changing World” here on February 18, Monday, he said  mobile devices have outperformed the e-space due to their  reach, ease and capabilities. He further said in a digitally dominated world, dramatic changes can be expected in a banking industry. Bankers need to adapt themselves to the changing circumstances, he said. Continuing, he said there was much scope for progress in the banking in India where 83 per cent of population had no access to banks. The world is divided by technology, not ideology, he said.

Justice Venkatachalaiah also touched upon the  IBM Study “ Banking 2015: Defining the Future of  Banking,”  he said the study  identifies some key trends which will determine success. Sustainable growth can be achieved through innovations in products, processes and business models, he observed.

Justice Venkatachalaiah also commended the good performance by Karnataka Bank over the years.

P Jayaram Bhat, Managing Director and CEO of Karnataka Bank, Ananthakrishna, ex-officio Chairman  were also present.