With rural penetration and mobile internet usage growing exponentially, data consumption is outstripping growth of infrastructure and facilities in India. And technology leaders are looking to take advantage of the situation.
For instance, US hardware and software giant Oracle has a package that can enable bank or telecom customers access their past billing and transaction records almost instantly. With growing regulatory requirements and consumer demand for direct access to data, the company feels it is sitting pretty.
“We have helped a number of banks and telecom companies with our hardware and software, designed to take care of their data management and data storage requirements,” said Sandeep Mathur, MD and CEO, Oracle India.
Oracle has both hardware and cloud computing capability, having acquired Sun Microsystems in 2010 and hospitality and retail technology vendor Micros Systems last month. In addition, their core business strength is managing, storing and transferring huge quantities of data.
Many Indian banks and telecom companies have not kept pace with technological developments, and employ old equipment and data storage systems. Moreover, they face inter-operability issues in their systems, with parts having been sourced from different vendors.
Mathur said he is bullish about opportunity in India. Reliance Commercial Finance, an Oracle client, has found customer satisfaction go up. Said Shashi Ravulapaty, senior vice-president and chief technology officer, RCF: “We reduced churn by enabling same-day notifications to customers regarding loan approval status, instead making them wait three days.”