Panel Discussion: Understanding the Increasing Relevance and Preference for Cloud & Emerging Tech like AI in the BFSI Industry

BFSI Technology Conclave 2024 | DAY 1 | 10th May 2024 | Sheraton Grand, Pune

Panelists in this video:
+ Viral Davda, CTO, NCDEX
+ Ratan Jyoti, CISO, Ujjivan Small Finance Bank
+ Tabrej Khan, CTO, Anand Rathi Insurance Brokers
+ Manishi Chatterjee, GM – IT, IDBI Bank
+ Naved Hussain, CTO, Adani Capital
+ Piyush Gupta, CTO, Syndrome NewEdge
+ Sreeram Melarkode, Technology Strategist – BFSI & CDO, Paramatrix Technologies Ltd
+ Srikanth RP, Editor, Express Computer (Moderator)

Key Highlights:
[1] Viral Davda, CTO, NCDEX: Security frameworks are not one-size-fits-all. Every organization has to devise its own security framework to ensure a customized approach to optimal security posture.

[2] Ratan Jyoti, CISO, Ujjivan Small Finance Bank: Today, the biggest challenge in the cybersecurity space is misconfiguration. For a bank, it is important to work on incident management, logging and monitoring, and infrastructure security.

[3] Tabrej Khan, CTO, Anand Rathi Insurance Brokers: Security measures have enhanced with time, from simple passwords to alphanumeric codes and now multifactor authentication.

[4] Manishi Chatterjee, GM, IT, IDBI Bank: We are still unaware of the ramifications GenAI will have for the workplace. Therefore, we should tread cautiously and ensure that cloud configuration with AI integration has to be done in a clear and cautious manner.

[5] Naved Hussain, CTO, Adani Capital: We have been 100% on the cloud since our inception and have never had downtime or any security concerns. Now, we are leveraging AI on the cloud for customer underwriting as a business rule engine, for customer support using chatbots and early warning signals, and for infrastructure security. We are also doing POC in the field of analytics and secured development using AI.

[6] Piyush Gupta, CTO, Syndrome NewEdge: For AI adoption, a relevant MLOps framework with GRC hooks is key. This will ensure the right level of insight into the decision-making process affecting outcomes for end customers.

[7] Sreeram Melarkode, Technology Strategist, BFSI, and CDO, Paramatrix Technologies: As cloud computing has evolved over the last decade and a half, so has AI. BFSI incumbents working to bring AI use cases to life would do well to closely control the data that the models are based upon.

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