Kotak Mahindra Bank (Kotak) announced today that it has selected ASG Technologies’ Data Intelligence Solution to drive its data governance initiatives.
Kotak’s digital-first organic growth strategy is driven by its ABCD charter that focuses on AI enriched App, Biometric enabled Branch, Context enhanced Customer Experience and Data empowered Design. A digital-first growth strategy entails rapid digitalization of processes and systems, which in turn requires having a robust data governance strategy.
To put in place robust data governance processes and systems, Kotak has selected ASG’s Data Intelligence solution. ASG’s solution enables Kotak to discover, govern and derive the value within its data while remaining compliant with ever-changing regulatory environments and maintaining hard-earned customer trust.
Devang Gheewalla, President and Chief of Operations, Kotak Mahindra Bank said, “Trust is the central theme in building customer confidence which in turn contributes to sustainability of a bank’s business. A robust risk management and governance practice is imperative in building a trustworthy bank and it is these key principles that are driving Kotak’s data governance strategy. We value our association with ASG and believe that ASG’s Data Intelligence solution will enable us to set the standard for data governance among financial institutions in India.”
“Kotak understands the value of Data Trust and how complex yet important it is to put a comprehensive data governance strategy in place. That is the exact type of customer ASG is best poised to support,” said Kaushik Bagchi, VP Information Management at ASG Technologies. “Kotak recognizes that data is one of the company’s most strategic assets and that there is an opportunity to leverage it across the organization. We are confident our solutions will enable Kotak to see the promise of that data for its business driving both regulatory compliance and business value.”
Shares of KOTAK MAHINDRA BANK LTD. was last trading in BSE at Rs.1326.1 as compared to the previous close of Rs. 1304.05. The total number of shares traded during the day was 154660 in over 5387 trades.
The stock hit an intraday high of Rs. 1336.4 and intraday low of 1311.65. The net turnover during the day was Rs. 204888651.