Risk management and customer centricity and management have emerged as the top challenges that need to be addressed as a result of Banknet's Financial Sector Survey 2008. These top two priorities have been closely followed by Basel II.

These findings were announced at Banknet's Fourth Annual CTO- CXO Summit held on 15th May 2008. Anurag Khanna, chairman and managing director of Banknet Group added that implementation of Basel II is likely to improve the risk management systems of banks as banks aim for adequate capitalisation to meet the underlying credit risks and strengthen the overall financial system. Customers and customer relationships lie at the very core of the business of banking and hence they rank high on the priority list of banks.

Banknet also announced the criteria and selection procedures for the 'Banknet Excellence Awards' at the Summit to recognise individual talents in the banking sector in India. Entries for the awards would be received in ten categories and though there are specific criteria for each of the awards category, the general criteria include broad parameters like new initiatives, contribution to profitability, effective project management, change management, service quality, socially responsible behavior, customer relationship, resource optimisation, and contribution to improvement in product delivery and client satisfaction, leadership qualities etc.