Banknet India's CTO Summit held on 21st February 2005 brought
together 28 CTOs, CEOs and Business heads from 15 banks and 5 IT
companies to discuss the role of IT in managing risk in banks,
leveraging IT for business benefits for banks, challenges of multi-
channel strategies in banks, approaches to core banking solutions.

Speakers and panelists at CTO Summit were of consensus that
technology will be the key for banks in their effort to implement the
Basel II norms. Technology is essential for Basel II norms because of
needs like data collection, computation of the audit trail and
reporting between the various departments and across the ranks within
banks.

Experts agreed that data collection; networking and risk management
will be the key areas where banks will need to implement technology,
in their efforts to achieve standardization. A centralized IT
infrastructure, customized software solutions, personnel training and
seamless integration of multi-channel strategies are the imperatives
for management of credit, market and operations risks.

Read more at: http://www.banknetindia.com/ctopress.htm