The Real Reason Bank Tech Projects Fail (It's Not the Software)

Indian banking has undergone a remarkable transformation over the last two decades. From centralized core banking and expanding branch and ATM networks to internet banking, mobile banking, UPI, APIs and open banking, each wave of technology has fundamentally changed how customers access financial services.

According to Manoj, the next major shift is already underway: AI moving from experimentation into the core of banking operations. But simply adding AI to existing systems will not be enough. Banks will need to rethink their processes, operating models and ways of working before AI can deliver meaningful outcomes.

For large transformation programs, technology itself is rarely the biggest obstacle. Business sponsorship, stakeholder participation, excessive customization and change management can determine whether a project succeeds or struggles. Manoj highlights that banks must focus on business outcomes while controlling customization and ensuring that employees actually adopt new systems.
Looking toward 2040, banking could become increasingly invisible. Instead of opening a banking app, customers may simply ask for a financial outcome, with autonomous AI agents assessing data, evaluating eligibility and connecting them to the right financial product. This future will depend on strong integration, security, compliance and customer consent.

The next chapter of banking, therefore, may not be about building more technology- but about redesigning banking around what technology can make possible.

Watch full episode here: https://youtu.be/2SF3T7JtBnU?si=EAOWydhkllqL9d37