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13 articles on digital banking, fintech innovation, and AI in financial services.
AI in Banking•4 min read
Banking Accountability in the Age of AI: Who’s Really in Charge?
AI won’t eliminate accountability in banking—it will complicate it. While AI brings speed, scale, and consistency, it also blurs the lines of responsibility. When decisions come from systems no one fully understands, blaming “the algorithm” becomes dangerously easy. True accountability in this new era means building AI not just to decide—but to oversee, audit, and predict failure. We can’t go back to human-only oversight. But we also can’t hide behind AI. The future of banking demands new control systems—and a redefined architecture of trust.
Akhil HandaAug 6, 2025
Digital Transformation, Fintech Innovation•5 min read
RBI’s Digital Banking Draft Guidelines: A Hard Reset with an Open Canvas
The RBI’s 2025 draft directive on Digital Banking Channels Authorisation is a major regulatory reset, consolidating 16 fragmented circulars into one cohesive framework. It brings much-needed clarity, ensuring uniform compliance across all banks—including RRBs and cooperative banks—while strengthening customer protections with features like explicit consent and read-only modes. Yet, while it simplifies governance, the draft risks slowing innovation by banning third-party promotions on digital platforms, potentially hampering ONDC integrations and embedded finance. Smaller banks may also struggle with the uniform compliance load. The underused Digital Banking Units (DBUs) offer a chance to reinvent legacy banking—if granted operational freedom. Now, with regulation streamlined, the next step is for banks to treat digital not just as a service channel, but as a strategic business driver.
Akhil HandaJul 31, 2025
Fintech Innovation, Digital Transformation•4 min read
Moats over Markets? JPMorgan’s Data Fee Could Reshape Fintech
JPMorgan Chase, the titan of U.S. consumer and SME banking, is making waves by charging third-party fintechs—like Plaid—hundreds of millions to access customer data via APIs. On the surface, it appears to be a strategic monetization move. But dig deeper, and it's clear: this isn’t about revenue. With API fees generating less than 0.5% of JPMorgan’s annual income, the goal is control, not cash. By raising access costs, the bank is effectively tightening its grip on the fintech ecosystem—potentially pricing out smaller innovators and stifling the open-data-driven progress that has defined modern finance. This quiet power shift raises a critical question: who truly owns financial data—the bank or the customer? In contrast to countries like India, where open banking policy puts data control in the hands of the user, JPMorgan’s approach could signal a retreat from openness. If not tempered with thoughtful safeguards, such a move risks protecting the core while starving future innovation. The battle for the future of finance may not be over infrastructure, but over who chooses to build bridges—or walls.
Akhil HandaJul 21, 2025
Fintech Innovation, Digital Transformation, Global Trends•7 min read
BFSI Is Madly Innovative (Contrary to What One Might Think)
In a candid and insightful narrative, the author challenges the myth that innovation in BFSI (Banking, Financial Services, and Insurance) is stagnant beyond visible consumer tech like ATMs and UPI. Drawing on decades of global banking and fintech experience, the piece dives deep into the hidden layers of financial innovation—from risk engineering and capital structuring to distribution and access. With examples spanning global markets, from India’s UPI and Account Aggregators to DeFi’s smart contract-powered lending, the article argues that the real transformation in finance is subtle, powerful, and happening beneath the surface.
Akhil HandaJul 8, 2025
Fintech Innovation•7 min read
BFSI x Regulation x AI: How to Build Without Breaking the Rules
In fintech, compliance is often seen as a hurdle—but what if it's actually the blueprint? This article unpacks how regulation in the BFSI sector is not a barrier to innovation but the operating system it runs on. By decoding regulatory intent—from customer protection to market integrity—and embracing sandboxes, firms can align ambition with accountability. As AI reshapes decision-making in finance, the need for explainability, auditability, and human oversight is more critical than ever. The takeaway? Regulation isn’t a bug—it’s a feature. Learn to build with it, not around it.
Akhil HandaJun 12, 2025
AI in Banking, Digital Transformation•10 min read
The Risks of Outdated Software: A Case for Modernization in Banking and Beyond
Outdated software isn’t just inefficient—it’s dangerous. From nuclear systems running on floppy disks to billion-dollar frauds hidden in legacy databases, the risks of relying on antiquated tech are growing. This blog unpacks why banking and government institutions still cling to legacy systems, and how AI-led modernization is no longer a luxury but a necessity for survival and competitive edge.
Akhil HandaJun 5, 2025
Fintech Innovation, Digital Transformation•4 min read
DLGs, Provisioning & The Illusion of Comfort
In May 2025, the RBI made a bold regulatory shift by disallowing NBFCs from offsetting loan provisions using Default Loss Guarantees (DLGs) — even when backed by cash. While this may seem like penalizing prudent risk-sharing between fintechs and lenders, it underscores a deeper philosophy: true resilience lies in self-reliance. The RBI’s move signals that provisioning isn’t about probable recoveries but about capital readiness. It’s a call for NBFCs to carry their own balance sheet burdens — without leaning on external assurances — and a reminder that guarantees, no matter how secure, are not substitutes for accountability.
Akhil HandaJun 5, 2025
AI in Banking•6 min read
Why Bank Tech Arms Could Be A Big Deal Right Now
The establishment of tech arms within banks is not a novel concept but has gained significant relevance in today's landscape. Various banks, such as SBI and IDBI, have ventured into this space, generating substantial revenues. However, the focus has primarily been on foundational technology rather than innovation. As India faces a technological upheaval in the BFSI sector, the integration of IT expertise is crucial. With a workforce of 5.4 million in Indian IT, and the ongoing transition among major IT players, there's an opportunity for banks to leverage this talent.
Akhil HandaMar 7, 2025
AI in Banking•4 min read
The Great Data Devaluation: When AI Turns Gold into Gravel
Akhil articulates the risks posed by AI-generated data to the BFSI sector, likening it to toxic sludge that undermines data integrity. The evolution from hard to soft collateral, driven by exponential data growth, has led to initiatives like OCEN and GST-Sahay, establishing 'data-collateral' in lending decisions. However, the rise of AI-generated data threatens to corrupt these systems, as evidenced by the emergence of services like Pearl that promote human-verified results. To combat this, a three-pronged strategy is proposed: fortified source-system authentication, recalibrating social signals, and implementing transaction intelligence.
Akhil HandaJan 28, 2025
Digital Transformation•6 min read
Why are we stuck with 1990’s core banking solutions?
Core banking solutions (CBS), developed in the 1980s and 1990s, transitioned banks from manual ledgers to digital systems, enhancing efficiency and control. However, these systems, initially designed for branch-based operations, are now outdated and unable to meet evolving customer expectations driven by digitalization. Over three decades, CBS have been extensively patched, leading to significant technical constraints, including reliance on structured databases ill-suited for AI applications. Customization for regulatory changes has created complexities, while a proliferation of satellite systems complicates migration to new core solutions. As non-banking entities advance at internet scale, banks risk falling behind. To address these challenges, a proactive, AI-focused strategy is essential, emphasizing collaboration between traditional banks and fintechs to capitalize on emerging opportunities in the banking landscape.
Akhil HandaJan 20, 2025
Fintech Innovation•4 min read
Let the Feriwala Come to You!
Akhil envisions a future where e-commerce mirrors the proactive approach of traditional feriwalas, with merchants bringing offers directly to consumers instead of waiting for them to search. This concept utilizes AI-powered personal assistants that can scan the web, negotiate prices, and curate tailored options based on user preferences. Flipping the current HTTP protocol from a request-response model to a proactive merchant-ping model could revolutionize commerce. This approach would enable merchants to respond to user-defined intents in real-time, transforming advertising into consent-based, intent-driven messaging.
Akhil HandaJan 13, 2025
AI in Banking•4 min read
Will AI buy the cars?
The Article discusses the implications of AI on productivity and employment, drawing parallels to historical economic shifts. It notes that while AI can enhance productivity, it does not consume goods, raising concerns about potential declines in consumer spending. The author highlights significant gains in coding through AI adoption and a shift in income from labor to capital providers. Citing historical precedents like the Great Depression, the text suggests that technological advancements create new job opportunities despite initial dislocation. It emphasizes the need for individuals to adapt by acquiring technical, creative, and critical thinking skills, along with soft skills like communication and relationship-building. Ultimately, the current low unemployment rate and the rise of tech-driven jobs suggest a positive outlook on employment despite fears of technological unemployment.
Akhil HandaJul 23, 2024
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