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Time of India
4 days ago
- Business
- Time of India
Customer-first approach and digital enablement are critical for us: Ravi Pichan, CIO, RBL Bank
– Digital is the mainstream way of doing business and engaging with customers – Focussing on enhancing both direct and assisted channels through DX – Ensuring minimal friction with the best possible customer experience Digital transformation in the banking sector has really taken off in a big way. Integrating advanced technologies to enhance customer experience, streamline operations, and improve financial services is on the rise. There is tremendous adoption of mobile banking, AI-driven chatbots, blockchain, and data analytics. These innovations enable faster transactions, personalized services, and better risk management. Banks are shifting from traditional branch-based models to digital platforms, offering 24/7 access and seamless services. Digital transformation not only increases efficiency and reduces costs but also helps banks stay competitive in a rapidly evolving financial landscape driven by customer expectations and technological advancements. RBL Bank has been going all out to leverage the fruits of modern technology. ETCIO caught up with Ravi Pichan , Chief Information Officer and Head - Digital Banking at RBL Bank for a wide ranging discussion. Here are some excerpts: ETCIO: What are some of the technological pursuits that are keeping you busy these days? RP: Today, our core theme, which drives everything we do, is a customer-first approach and digital enablement. When we talk about customer-first, it encompasses both customer experience and the service aspect. While technology plays a key role, challenges will always arise. How effectively we service them is critical. Digital is no longer an additional feature; it has become the mainstream way of doing business and engaging with customers. This shift is driven by changing demographics, with more people embracing digital. It is not just the Gen Z, but also senior citizens who have transitioned from a paper-based era. As a result, all our initiatives are built on this digital-first approach. ETCIO: What does digital mean for both direct as well as assisted channels? RP: When we talk about digital, it applies to both direct and assisted channels. The obvious focus is on channels customers directly engage with, but assisted channels are equally important. For example, when buying a car and applying for a loan, customers may not always interact directly with the bank's website; instead, an agent assists them. Their experience is still shaped by how seamless and efficient that process is. Even though they may not be directly interacting with the bank's digital systems, any inefficiency in the assisted process can impact their perception of the brand. Therefore, we focus on enhancing both direct and assisted channels through digital transformation. Additionally, banking today relies heavily on third parties. From a customer's perspective, however, their experience is associated entirely with the bank. They are not concerned with whether an issue stems from an external entity—they simply expect a seamless experience. Therefore, when designing solutions, we must ensure they are as frictionless as possible. Frictionless service is an ideal goal, but occasional exceptions are inevitable. The key is in how we manage these exceptions not just by acknowledging delays but by resolving issues swiftly and effectively. Customers understand that challenges can arise, but what matters is how efficiently we address them. It's not enough to say, "We'll get back in two hours" we need to focus on resolving the original issue so that their journey is completed with minimal friction. Ultimately, our goal is to minimize friction while ensuring the best possible customer experience. ETCIO: Any recent implementation of digital initiatives that you're particularly excited about? Something that produced the desired results. RP: We are working to build a strong foundation. With that in mind, we have meticulously planned and set up a brand-new, state-of-the-art data center designed to serve the next 10 years. This investment in infrastructure, design, networking, and security forms the foundation for all our digital offerings. If the digital experience is the icing, the foundation must be solid to ensure true frictionless service—otherwise, "frictionless" remains just a word. Over the last 12 months, we have executed this plan while also expanding our cloud footprint for hyper-scaling. On top of this foundation, we have delivered modern solutions across retail assets, including home loans, two-wheeler loans, and car loans. These solutions, while often used in assisted channels, directly impact customer experience. If the person assisting the customer does not have the right tools or a frictionless process, they cannot deliver a seamless experience. That's why we have focused on ensuring the right digital enablers are in place. We have also integrated newer government-backed capabilities like the Account Aggregator framework. This has significantly reduced friction in processes eliminating the need for customers to manually provide bank statements. Instead of downloading, emailing, and uploading documents, the system now fetches data directly, making credit decisioning smarter while also addressing fraud risk. Since data is sourced directly from bank accounts, authenticity is ensured. Similarly, the Unified Lending Interface (ULI) allows us to fetch land records, addressing a crucial risk factor. On the liabilities side, we are also driving a complete overhaul of our switch infrastructure. A year ago, we insourced and built our own switch, shifting from simply buying off-the-shelf products to developing in-house engineering talent. Over the last two years, we have focused on designing and building solutions rather than only purchasing them. We now critically evaluate "build vs. buy" decisions, weighing the pros and cons. For UPI , we decided to build our own switch, and the results have been phenomenal, reducing transaction declines and improving overall efficiency, aligning with our frictionless approach. Several more initiatives are in the pipeline, particularly around digitally enabling our sales teams. Every bank today has digital systems paper-based processes are long gone. However, digital success isn't just about having systems; it's about how seamlessly they work together. ETCIO: Have you been able to quantify some of these outcomes? RP: On the customer service side, we have been able to achieve both elevating certain roles while optimizing others and improving turnaround times for resolving customer complaints. While it is still early days, and the model is still learning, the initial trend is moving in the right direction. In terms of specific numbers, it is too soon to share precise figures. Perhaps by the time we have our next conversation, we will have more concrete data. However, what is clear is that we are making a strategic investment in technology, and the proposed ROI is heading in the right direction. ETCIO: Anything interesting that is coming up? RP: We are in the process of launching a brand-new mobile banking application. Previously, we had two separate apps: one for credit cards and another for banking. Now, we are consolidating everything into a single app. With this new app, which has already been rolled out to almost all our retail liability customers, you will be able to view your entire relationship with the bank in one place: liabilities, cards, assets, home loans, etc. all integrated seamlessly. The UI has been redesigned and while UI preferences are subjective, initial ratings on Playstore suggest an improvement over the old app. It offers a significantly richer feature set. The key advantage is that if you have multiple relationships with the bank: home loan, fixed deposits, savings account, credit card, you no longer need to navigate across multiple platforms. Everything is now accessible through a single app.
Time of India
13-05-2025
- Business
- Time of India
ETCIO Annual Conclave 2025: Redefining CIO's journey from technology steward to enterprise leader
ETCIO Annual Conclave 2025 The Economic Times CIO (ETCIO) announces its landmark 7th Annual Conclave, themed " CIO 3.0 : Transforming innovation into business reality," taking place May 29 to June 1, 2025, at the Grand Hyatt, Goa. This invitation-only gathering will bring together over 200 of India's most influential technology leaders to explore the evolving role of the CIO from technology enabler to business strategist and potential CEO. In an era where AI, automation, and data analytics are fundamentally reshaping business landscapes, the 2025 conclave addresses the critical evolution of the CIO role. No longer confined to technical implementation, today's CIOs are increasingly becoming architects of growth, drivers of customer experience, and shapers of enterprise strategy. "The modern CIO stands at a pivotal crossroads," said Amit Kumar Gupta, business head, ET business verticals. "This year's conclave is designed as a blueprint for technology leaders who are ready to translate their innovation capabilities into tangible business outcomes and position themselves for the highest levels of corporate leadership." The ETCIO Annual Conclave 2025 delivers an unparalleled experience crafted specifically for technology leaders at the pinnacle of their fields. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Lost Their Money - Learn From Their Lesson Expertinspector Click Here Undo Attendees will engage with Dr Ram Charan's exclusive masterclass on the CIO-to-CEO journey, participate in 25+ visionary sessions spanning multiple formats, and connect during 1,000+ minutes of strategic networking opportunities with peers from India's most prestigious organizations. Technology visionaries from ICICI Bank, Ola, Akasa Air, Zepto, Hero MotoCorp, NSE, Adani Group, and other industry titans will lead critical conversations on AI as the new enterprise operating system, strategies for leading through constant disruption, data democratization across organizations, and next-generation infrastructure approaches. This carefully orchestrated convergence of India's top technology minds creates not merely a conference but a transformative leadership laboratory where today's innovations become tomorrow's competitive advantages. Setting this conclave apart are the carefully crafted evening experiences featuring conversations with prominent figures from Bollywood, business, and sports, complemented by performances from India's most celebrated musical artists, creating an environment where intellectual stimulation meets cultural enrichment. The ETCIO Annual Conclave isn't just an event; it's where the future of technology leadership is defined. Attendees don't just leave with new ideas—they leave with transformed perspectives on their role in shaping enterprise futures. For more information about the ETCIO Annual Conclave 2025 or to request an invitation, visit . About ETCIO The Economic Times CIO (ETCIO) is India's premier platform for technology leaders, providing insights, analysis, and community engagement for chief information officers and technology decision-makers across industries. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
Time of India
08-05-2025
- Business
- Time of India
Beyond the Black Box: Why AI Needs Transparency and Explainability
Gone are the days when AI was considered a futuristic concept. Today, it has been deeply embedded in our day-to-day activities, shaping most of our decisions - from financial transactions to critical health diagnostics. Moving from merely employing AI for certain tasks to becoming AI-first organizations has been crucial for businesses to harvest its value at scale. As our dependency on AI for decision-making increases, a significant underlying challenge arises: the transparency and explainability of AI, which we can describe as the 'black box' black box nature of AI stems from its complexity. Many AI models are built as opaque systems, producing decisions without clear explanations. Despite their high accuracy, AI models often operate opaquely, hiding their decision-making processes. This lack of transparency fuels distrust and raises concerns around ethics and solution? Move from a black box to a glass box approach, providing visibility into AI systems while prioritizing transparency and explainability to ensure responsible AI use. Glass-box AI models are designed to explain their decisions clearly, making them more understandable to users. When users understand how AI reaches decisions, they are more likely to trust the crucial pillar of Responsible AI is fairness. Bias is a well-documented issue with AI models, and generative AI is not immune. AI doesn't create bias on its own, but learns from patterns in existing data. A model might associate specific traits with a certain gender or ethnicity, leading to inaccurate predictions and offensive outcomes. In a black box scenario, such biases may go unnoticed. With a glass box approach, biases can be detected, analyzed, and AI enables users to challenge and refine AI-driven decisions, reducing blind reliance on technology. This ability is essential in industries like healthcare and finance, where unchecked errors or biases could lead to severe consequences. Open and explainable AI fosters interdisciplinary collaboration between engineers, ethicists, and policymakers. Development and deployment should not be limited to data scientists AI's black-box nature will help ease public skepticism and encourage responsible adoption. Explainable AI ensures AI remains a tool for augmentation rather than an uncontrollable force, keeping humans at the center of offers a cautionary tale. Just like the nuclear arms race escalated without early regulations, AI development is accelerating. Without proactive governance, we might risk unforeseen consequences. Embedding responsible AI from the outset ensures its growth is guided by responsibility rather than blind Sonali Singh, Partner Technical Specialist, This article is a part of ETCIO's Brand Connect Initiative.
Time of India
05-05-2025
- Business
- Time of India
From CIO to CEO: ETCIO Annual Conclave 2025 Empowers Tech Leaders to Shape What's Next, ET Education
Advt 25+ future-forward sessions blending keynotes, panels, workshops, and live demos. An exclusive masterclass by globally acclaimed business strategist Dr. Ram Charan on 'How Tech Leaders Can Become a CEO'. 1,000+ minutes of curated networking with India's top minds in enterprise tech. 80+ innovation booths from leading tech solution providers. Powerful storytelling formats like CIO Spotlight: My Big Win in 8 Minutes and Cracking the Boardroom Code. The agenda will spark deep discussions around the most urgent shifts facing today's CIOs: The Three Arcs of the Modern CIO AI is the New OS: Are You Ready to Trust Your Enterprise to Think? The CIO Paradox: Leading When the Future Won't Sit Still Data Democracy: Why IT Must Lose Control for Businesses to Win Every Customer, One Journey: Radical Personalization at Scale Cloud 3.0: Is Your Infrastructure Agile or Fragile? Advt Join the community of thousands of industry professionals Subscribe to our newsletter to get latest insights & analysis. Get updates on your preferred social platform Follow us for the latest news, insider access to events and more. The Economic Times CIO (ETCIO) proudly announces the 7th edition of its flagship gathering—the ETCIO Annual Conclave 2025 , returning to the iconic Grand Hyatt, Goa, for a four-day, invite-only experience fromIn a world defined by disruption, where AI, automation, and data reshape industries overnight, the role of the CIO is undergoing its most significant transformation yet. Today's CIO isn't just a technologist—they're a strategist, an innovator, and often, a this powerful shift in focus, this edition presents: CIO 3.0: Where Innovation Becomes Business RealityThis year's theme, 'CIO 3.0: Transforming Innovation into Business Reality ,' captures the essence of what's next. The CIO of today—and tomorrow—must go beyond delivering digital transformation to architecting growth, driving customer-centricity, and building future-proof conclave will convene tech leaders , and digital strategists to explore how this evolution plays out in real-world enterprises embrace intelligent automation hyper-personalized customer experiences , and data-driven decision-making, the CIO has evolved into a strategic business partner. The CIO 3.0 is expected to build agile, scalable, and secure tech ecosystems that deliver real business 2025 edition raises the bar with a highly curated agenda that blends strategic insight, peer-to-peer learning, and immersive experiences, including:What sets ETCIO Annual Conclave apart is its ability to blend intellect with experience. Beyond the sessions, attendees will enjoy unforgettable evenings featuring insightful conversations with icons from Bollywood, business, and sports, and musical performances by India's most celebrated artists—adding moments of joy, culture, and connection to an already extraordinary banks to unicorns, auto giants to digital-first startups, tech leaders from India's most admired companies—ICICI Bank, Ola, Akasa Air, Zepto, Hero MotoCorp, NSE, Adani Group, VodafoneIdea, Kotak Mahindra Bank, Aditya Birla Fashion & Retail, RBL Bank, and more—will take the stage not just to speak, but to spark something you're leading a digital revolution or preparing for one, the ETCIO Annual Conclave 2025 is where India's tech trailblazers come to learn, lead, and launch what's next.🔗 To explore this conclave or request an invitation, visit:
Time of India
02-05-2025
- Business
- Time of India
From CIO to CEO: ETCIO annual conclave 2025 empowers tech leaders to shape what's next
The Economic Times CIO (ETCIO) proudly announces the 7th edition of its flagship gathering—the ETCIO Annual Conclave 2025 , returning to the iconic Grand Hyatt, Goa, for a four-day, invite-only experience from 29th May - 1st June 2025. In a world defined by disruption, where AI, automation, and data reshape industries overnight, the role of the CIO is undergoing its most significant transformation yet. Today's CIO isn't just a technologist—they're a strategist, an innovator, and often, a CEO-in-waiting . With this powerful shift in focus, this edition presents: CIO 3.0: Where Innovation Becomes Business Reality This year's theme, 'CIO 3.0: Transforming Innovation into Business Reality,' captures the essence of what's next. The CIO of today—and tomorrow—must go beyond delivering digital transformation to architecting growth, driving customer-centricity, and building future-proof enterprises. The conclave will convene 200+ of India's most influential & visionary CIOs , tech leaders, and digital strategists to explore how this evolution plays out in real-world leadership. A Bigger, Bolder, Brighter Edition As enterprises embrace intelligent automation, hyper-personalized customer experiences, and data-driven decision-making, the CIO has evolved into a strategic business partner. The CIO 3.0 is expected to build agile, scalable, and secure tech ecosystems that deliver real business outcomes. The 2025 edition raises the bar with a highly curated agenda that blends strategic insight, peer-to-peer learning, and immersive experiences, including: 25+ future-forward sessions blending keynotes, panels, workshops, and live exclusive masterclass by globally acclaimed business strategist Dr. Ram Charan on 'How Tech Leaders Can Become a CEO'.1,000+ minutes of curated networking with India's top minds in enterprise tech.80+ innovation booths from leading tech solution storytelling formats like CIO Spotlight: My Big Win in 8 Minutes and Cracking the Boardroom Code. Conversations That Will Shape the Future: The agenda will spark deep discussions around the most urgent shifts facing today's CIOs:The Three Arcs of the Modern CIOAI is the New OS: Are You Ready to Trust Your Enterprise to Think?The CIO Paradox: Leading When the Future Won't Sit StillData Democracy: Why IT Must Lose Control for Businesses to WinEvery Customer, One Journey: Radical Personalization at ScaleCloud 3.0: Is Your Infrastructure Agile or Fragile? Inspiration Beyond the Boardroom What sets ETCIO Annual Conclave apart is its ability to blend intellect with experience. Beyond the sessions, attendees will enjoy unforgettable evenings featuring insightful conversations with icons from Bollywood, business, and sports, and musical performances by India's most celebrated artists—adding moments of joy, culture, and connection to an already extraordinary experience. When Visionaries Gather, the Landscape Changes From banks to unicorns, auto giants to digital-first startups, tech leaders from India's most admired companies—ICICI Bank, Ola, Akasa Air, Zepto, Hero MotoCorp, NSE, Adani Group, VodafoneIdea, Kotak Mahindra Bank, Aditya Birla Fashion & Retail, RBL Bank, and more—will take the stage not just to speak, but to spark something bigger. Lead the Future. Be the Future. Whether you're leading a digital revolution or preparing for one, the ETCIO Annual Conclave 2025 is where India's tech trailblazers come to learn, lead, and launch what's next. To explore this conclave or request an invitation, visit:
