BFSI Leaders Who Are Revolutionising Systems and Practices in Their Industries

The pandemic has precipitated digital transformation in all industries but especially in the BFSI (Banking, Financial Services and Insurance) space where the need to manage large volumes of data, expand services and ensure cyber security has made new technologies imperative. We pick a few leaders who are working towards building safer, faster and more efficient and equitable systems in their respective companies.

1. Alok Bansal, Visionet Systems India's MD and Global Head of BFSI Business: Even before the pandemic, Mr. Alok Bansal had spent over 20 years, leading major technology initiatives and implementing scalable outsourcing services and delivery infrastructure. He is known to be an astute strategist and a leader who understands the various complexities of global operations and skillfully manages multi-site operations. What gives him an additional edge is his insight into how new-age-technologies can galvanise businesses. Over the decades, he has displayed an extraordinary acumen for building teams and creating an equitable organisational culture. He also believes CSR initiatives must create a paradigm shift at a collective level and is helming the free of cost skilling program, ‘Unnati for India' to make India's youth future ready. He continues to lead from the front to transform not just his company into a global force but the lives of those who just need a helping hand to rise above their circumstances.  

2) Tarun Chugh, CEO and Managing Director, Bajaj Allianz Life Insurance: Tarun Chugh is known to peers and employees as an experienced BFSI specialist with over 25 years of experience behind him. He started his career as an  Investment Banker, and then conquered the Life Insurance industry. Since then, he has built and led organisational structures and teams and brought dynamism to Life Insurance organisations. As a visionary, he was always aware that digital transformation will define the industry and has focused on growing digital assets throughout. He has also kept in touch with the human stories that animate the insurance industry. During the pandemic, under his leadership, Bajaj Allianz Life settled over 1,300 claims amounting to more than ₹74 crore. During this tough time, he also emphasised on employee safety and on serving the customers quickly, empathetically and efficiently.    

3) J Venkatramu - Managing Director & Chief Executive Officer, India Post Payments Bank: J Venkatramu is a Business Strategy, Product Development and Digital Financial Services veteran who has always understood just how technology can change any industry by maximising revenue, improving operations and systematising structures. Apart from initiating inclusive banking, he has also created digitally enabled banking conduits through multiple payment systems. He has helped launch new businesses, and found innovative solutions to increase growth and smoothen out bottlenecks.  He is also someone who believes in the potential of skilled teams to adapt to challenging environments and deliver results that are not just profitable but inclusive.

 4) Pushan Mahapatra, President-Strategic Investments & Head-Open Market of SBI General Insurance: Pushan Mahapatra is a man known for creating not just profitability but sustainability in organisations that he has worked for  and is also responsible for guiding SBI General into consistent growth, profit and accelerated performance. In August this year, under his leadership SBI General Insurance announced a tie-up with Manipal Business Solutions to increase insurance penetration in the rural markets via SahiPay, a tech-enabled financial inclusion platform that provides digital and financial services to customers in semi-urban and rural India. Mahapatra is showing by example just how digital models can be used for rural outreach and make insurance offering more inclusive.