Exactly. It is not easy to move entire system away from one vendor to another and companies won’t do it unless they have some legal requirement or some major issue/benefit in terms of cost and reliability. In industries requiring high reliability, they use very old tech too(like 30-40 years or even older) because they don’t like to fix what ain’t broken(pardon my Americanese).
Secondly, as Raj ji says others will likely come up wit it, by poaching talent from NPST if they have to. However, the moat is for existing customers, They are not going anywhere. Also, any new bank will seriously consider NPST given not much pricing difference.
On an unrelated note, I see they have become serious on their payment app. I have it and the number of offers and notifications has seen an increase in last 1-2 months. Maybe it is due to festive season, but I hope they are seriously focusing on this. This is where growth can come rather easily imho.
| Subscribe To Our Free Newsletter |
