The financial services industry is undergoing a significant transformation driven by digital disruption, technological advancements, evolving customer expectations, and increased competition. As the country’s financial sector stands at the cusp of a transformative journey, ICT leaders from this sector are at the forefront of modernization to capitalize on the tremendous growth opportunities.
CORE Media arranged closed door sessions for CIOs & Kyndryl leadership to share insights on “Forging the next evolution of Innovation and Secure Transformation in Financial Services.” Ramesh Narayanaswamy, CTO, Aditya Birla Capital, was joined by Mark Slaga, Global Practice Leader, Kyndryl Consult, and Vic Bhagat, Global Advisor and Senior Partner, Kyndryl Advisory Practice; Ashish Kothari, Country Leader and Partner, Kyndryl Consult; and Hussain Zaidi, Vice President Engagement Partner, Kyndryl as they delved deep into best practices and innovative solutions for infrastructure management for efficient and seamless transformation in the Indian BFSI sector.
Leaders from the Indian BFSI sector discussed the challenges and opportunities of digital transformation, emphasizing innovation, global strategy, and customer-centric approaches to ensure the long-term success of the financial services sector.
The session also provided insights on the challenges faced by NBFCs in aligning innovative solutions with sector-specific needs and regulations including regulatory compliance, data security concerns, and adapting to rapidly changing technological landscapes. Overcoming these challenges requires proactive collaboration with regulatory bodies, investing in robust cybersecurity measures, and fostering a culture of adaptability and continuous learning to stay on the curve in the dynamic digital environment.
Furthermore, Kyndryl leadership highlighted that building and maintaining trust in financial institutions is vital and it requires a focus on transparent communication, rigorous data protection measures, and continuous innovation. CXOs from financial institutions should prioritize cybersecurity, adhere to stringent privacy standards, ensure uninterrupted operations and invest in technologies that enhance customer experience while safeguarding sensitive information.
