US hardware giant Cisco said today it is experiencing a jump in demand from Indian banks since the demonetization move, allowing it to open its first global digital experience center here.
"Overall, we see a significant increase in requirements ... coming in from them, especially since November of last year. That's where we've also seen growth," Cisco India President Dinesh Malkani told reporters here.
He said digital solutions are "top of mind" even for state lenders, who are looking for solutions in a variety of ways.
The company has nine innovation centers worldwide in places such as San Jose, London, Tokyo and Berlin, but this is a first worldwide where it has launched a center dedicated to the digital experience aimed at the banking, insurance and financial services sectors.
A company spokesman said the center located within a company office in the Bandra Kurla Complex (BKC) business district spans over 400 square feet.
Company officials declined to give the exact details of the investment in the Center but said that this is part of a $ 100 million commitment made as part of the previously announced Country Digitization Acceleration (CDA) program.
Malkani said that before the previous Indian banks had to travel to their innovation centers, mainly the US, to understand the technologies, and added the presence of financial companies in the BKC will help.
Apart from looking for available solutions, customers will be able to co-create solutions together with the Cisco staff.
