Latest news with #AirtelPaymentsBank
Time of India
a day ago
- Business
- Time of India
No shortcuts in trust: Airtel Payments Bank CIO on responsible AI and banking at scale
Focusing on partnershipsAggressive use of AI, promoting financial inclusivityDefining digital transformation clearly, without embracing every emerging technology In the ever-shifting landscape of fintech, CIOs are no strangers to buzzwords like 'blockchain,' 'digital transformation,' and 'quantum computing.' Yet, as Pinak Chakraborty, CIO of Airtel Payments Bank , reflects, many of these terms remain aspirational rather than operational realities for most enterprises. 'We are far away from using blockchain right now,' Chakraborty admits candidly, adding that while blockchain offers immutability and decentralised trust, practical deployment requires extensive collaboration across multiple organisations — a challenge that cannot be underestimated. For CIOs steering large, complex fintech ecosystems, this means adopting a pragmatic mindset. Instead of chasing every emerging technology, leaders must focus on solving real problems with proven solutions while keeping an eye on promising innovations. This approach includes recognising that digital transformation is more than a catchphrase — it's about embedding technology in processes and culture to deliver measurable impact. However, Chakraborty notes, 'I have closed my ears to the term 'digital transformation' because too often it's used without clarity.' Collaboration and governance: The twin pillars What stands out in Chakraborty's narrative is the emphasis on partnerships — with industry bodies, technology vendors, and regulators. 'No new technology can be done without collaboration,' he says. The fintech space, particularly in India, thrives on ecosystem-level trust and interoperability, exemplified by initiatives like UPI which required multiple stakeholders to work in unison. Extended vendor contracts, integration complexities, and regulatory compliance are not merely operational hurdles but strategic considerations that CIOs must navigate deftly. Chakraborty explains how Airtel Payments Bank works closely with NPCI, UIDAI, and hyperscalers like AWS, Google Cloud, and Azure, alongside regulatory bodies preparing for laws like the DPDP Act. Such alliances enable the bank to deploy sensitive features such as facial recognition for customer onboarding while ensuring adherence to compliance and data privacy. Artificial Intelligence (AI), too, is approached with rigorous governance. Chakraborty shares that the bank implements MLOps practices including model version control, continuous testing, and rollback capabilities to ensure auditability and reduce risks like model drift and bias. 'AI is aggressively used, but it does not replace humans. There is always a 'man in the middle',' he stresses, highlighting the balance between automation and human oversight crucial for trust in financial services. Balancing innovation with inclusion and trust For CIOs leading fintech innovation in India, the ultimate goal goes beyond technology adoption. It is about driving financial inclusion safely and sustainably. Chakraborty describes how biometric cues such as facial authentication combined with contextual fraud scoring using machine learning models have transformed risk management, enabling safer second banking accounts for underserved populations. However, the journey is not without its challenges. The reliance on multiple data sources necessitates centralised data lakes with unified customer views, while decentralised AI models must be carefully orchestrated for effectiveness and governance. There is also the ever-present need to mitigate data bias and hallucination risks through fine-tuning and restricting AI use cases. Despite these complexities, the vision remains clear: leveraging technology not as an end but as a means to deliver trust, transparency, and inclusion. As Chakraborty poignantly puts it, 'Technology partnerships, regulatory alignment, and ethical AI governance are long-lasting journeys. CIOs who embrace this holistic view will lead India's fintech future.' As the digital financial ecosystem continues to evolve at a breakneck pace, CIOs must play a more decisive role not just in tech adoption but in shaping the very frameworks of trust, security, and long-term interoperability. For Chakraborty, the future isn't about adopting shiny new tools but ensuring the bedrock data, ethics, partnerships, and resilience is uncompromised. 'There's no shortcut to building for Bharat,' Chakraborty says. 'You need to think long-term, act collaboratively, and design for trust.'
Time of India
23-05-2025
- Business
- Time of India
Airtel Payments Bank says Q4 profit soars 138% to ₹26 crore
Airtel Payments Bank on Thursday said its profit rose by 138% year on year to ₹26 crore, buoyed by scale-up in the adoption and usage of ' Safe Second Account ' offering, and diversified growth across urban transit, and rural business solutions. For the fourth quarter ended March 2025, the revenues were at Rs 726 crore, a 34.7% increase over the same period of the previous year. "In Q4 FY25, the bank experienced a significant scale-up in the adoption and usage of our Safe Second Account offering, solidifying our position as the preferred digital-only bank in the country," according to Airtel Payments Bank. The bank said it recorded "diversified growth across its urban transit, B2B, and rural business offerings, contributing to robust sequential growth and a strong year-on-year performance". For the full year, revenue stood at Rs 2,709 crore, a growth of 47.5% over the previous year. The net profit rose to Rs 63 crore, up by 81.4%, while EBITDA increased by 64% YoY to Rs 299 crore. "Customer balances reached Rs 3,659 crore, up by 30.6% and the Gross Merchandise Value (GMV) stood at Rs 3,808 billion," Airtel Payments Bank said in a release adding it is, at present, the third-largest mobile bank in the country by user base. Anubrata Biswas, MD and CEO of Airtel Payments Bank, said, "The rapid adoption of our Safe Second Account offering reflects the growing need for a secure alternate bank account for digital payments. Today we are processing one in two domestic remittances and one in every five Aadhaar-enabled payments in the country". He added: "As we continue to scale, our commitment remains on empowering every Indian with simple and seamless banking solutions to bridge the digital divide.". In tier-3 and beyond locations, the bank has 5,00,000 active banking points, majority of which are operated by women banking correspondents. It also sees strong demand for its RuPay NCMC On-The-Go cards, with over 2.5 million users. In the B2B space, it is seeing strong growth in omnichannel digital payments with top aggregators and enables seamless transit payments across five major metro networks, including the DMRC. Airtel Payments Bank said it processes nearly 12 billion transactions annually and extends services to three in four villages, digitising over Rs 8,000 crore of cash monthly with 6,200 plus corporate partners.
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Business Standard
22-05-2025
- Business
- Business Standard
Airtel Payments Bank Q4 net profit jumps 138% to ₹26 crore, revenue up 35%
Airtel Payments Bank reported a 138 per cent year-on-year increase in net profit to ₹26 crore for the quarter ended March 2025, driven by strong adoption of its 'Safe Second Account' and robust growth across urban transit, rural banking, and B2B segments. Revenue for Q4FY25 stood at ₹726 crore, up 34.7 per cent from the corresponding quarter last year. In a statement, the bank highlighted that the quarter saw a major boost in uptake of the Safe Second Account offering, with growth distributed across key segments including urban transit systems. For the full financial year, revenue reached ₹2,709 crore, a 47.5 per cent increase year-on-year. Net profit for FY25 stood at ₹63 crore, up 81.4 per cent, while EBITDA rose 64 per cent to ₹299 crore. Also Read Customer account balances grew 30.6 per cent to ₹3,659 crore, while Gross Merchandise Value (GMV) processed through the platform stood at ₹3,808 billion. The bank said it is now the third-largest mobile banking provider in India by user base. 'The rapid adoption of our Safe Second Account offering reflects the growing need for a secure alternate bank account for digital payments. Today we are processing one in two domestic remittances and one in every five Aadhaar-enabled payments in the country,' said Anubrata Biswas, Managing Director and CEO of Airtel Payments Bank. The bank continues to expand its rural presence, operating 500,000 active banking points, the majority of which are run by women banking correspondents in Tier-3 towns and rural areas. Additionally, the bank reported rising traction for its RuPay NCMC On-The-Go card, now used by over 2.5 million customers. Its digital B2B payments vertical also saw strong growth, with partnerships across five major metro networks, including Delhi Metro Rail Corporation (DMRC). Airtel Payments Bank now processes nearly 12 billion transactions annually, serving three out of every four Indian villages and digitising over ₹8,000 crore in cash each month through a network of over 6,200 corporate partners.
Economic Times
22-05-2025
- Business
- Economic Times
Airtel Payments Bank says Q4 profit soars 138% to Rs 26 crore
Airtel Payments Bank on Thursday said its profit rose by 138 per cent year on year to Rs 26 crore, buoyed by scale-up in the adoption and usage of 'Safe Second Account' offering, and diversified growth across urban transit, and rural business solutions. For the fourth quarter ended March 2025, the revenues were at Rs 726 crore, a 34.7 per cent increase over the same period of the previous year. ADVERTISEMENT "In Q4 FY25, the bank experienced a significant scale-up in the adoption and usage of our Safe Second Account offering, solidifying our position as the preferred digital-only bank in the country," according to Airtel Payments Bank. The bank said it recorded "diversified growth across its urban transit, B2B, and rural business offerings, contributing to robust sequential growth and a strong year-on-year performance". For the full year, revenue stood at Rs 2,709 crore, a growth of 47.5 per cent over the previous year. The net profit rose to Rs 63 crore, up by 81.4 per cent, while EBITDA increased by 64 per cent YoY to Rs 299 crore. "Customer balances reached Rs 3,659 crore, up by 30.6 per cent and the Gross Merchandise Value (GMV) stood at Rs 3,808 billion," Airtel Payments Bank said in a release adding it is, at present, the third-largest mobile bank in the country by user base. Anubrata Biswas, MD and CEO of Airtel Payments Bank, said, "The rapid adoption of our Safe Second Account offering reflects the growing need for a secure alternate bank account for digital payments. Today we are processing one in two domestic remittances and one in every five Aadhaar-enabled payments in the country". ADVERTISEMENT He added: "As we continue to scale, our commitment remains on empowering every Indian with simple and seamless banking solutions to bridge the digital divide.". In tier-3 and beyond locations, the bank has 5,00,000 active banking points, majority of which are operated by women banking correspondents. ADVERTISEMENT It also sees strong demand for its RuPay NCMC On-The-Go cards, with over 2.5 million users. In the B2B space, it is seeing strong growth in omnichannel digital payments with top aggregators and enables seamless transit payments across five major metro networks, including the DMRC. Airtel Payments Bank said it processes nearly 12 billion transactions annually and extends services to three in four villages, digitising over Rs 8,000 crore of cash monthly with 6,200 plus corporate partners. (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
16-05-2025
- Time of India
2 cyber criminals held in Giridih
Bokaro: Two cyber criminals were arrested from Gandey police station limits after information about them was received through the Pratibimb Portal, Giridih police said on Friday. Giridih SP Bimal Kumar said Rafaul Ansari and Mohammad Sameer Ansari, both residents of Pandanatad in Gandey, were arrested near Beragi Railway Bridge during an operation under Bengabad police station limits. "Seven mobile phones, 11 SIM cards, three ATM cards, and several PAN cards were found from their possession," Kumar said. The SP said that during questioning, Rafaul and Sameer disclosed that they deceived their victims by offering KYC update assistance over telephone calls and stole from their bank accounts. They also confessed to distributing fraudulent APK files claiming to be from Airtel Payments Bank and Bandhan Bank. Cyber DSP Abid Khan, who headed the team which nabbed the duo, said, "The criminals had been active in numerous states. They face 16 cyber fraud cases across Uttar Pradesh, Bihar, Punjab, Chhattisgarh, Madhya Pradesh, Delhi, and other regions."
