From Ledgers to Algorithms Finally: The Slow but Steady Evolution of Indian Banking
The evolution of data analytics in the Indian banking sector reflects a broader story of technological transition marked by ambition, uneven implementation, and the persistent tension between quality, elegance, productivity, and practical constraints. Over the past few decades, banks in India have gradually moved from manual processes and fragmented systems to increasingly sophisticated, data-driven decision-making frameworks. Yet this journey has not been linear. Instead, it has been shaped by institutional inertia, regulatory intervention, infrastructure limitations, and the growing realization that data is not merely a byproduct of banking operations but a strategic asset. Globally, the banking industry began embracing automation and Management Information Systems (MIS) as early as the 1980s and 1990s, using them to enhance operational efficiency, customer service, and profitability. In contrast, Indian banks were slower to adopt these technologies at scale. Many institutions relie...