BFSI Insights Forum by Financial Express and Oracle explored how AI, automation, and data-driven strategies are reshaping finance operations and customer experience across banking and insurance.
The forum featured parallel sessions catering to finance and customer experience (CX) leaders, sparking dynamic conversations around emerging technology and evolving business needs.
To explore how intelligent automation, real-time analytics, and data-driven decision-making are reshaping enterprise operations and customer engagement, Financial Express and Oracle recently hosted the BFSI Insights Forum in Mumbai. This exclusive, invite-only gathering brought together senior leaders from the banking, financial services, insurance (BFSI), and retail sectors, creating a powerhouse platform to share insights, best practices, and future-ready strategies.
The forum featured parallel sessions catering to finance and customer experience (CX) leaders, sparking dynamic conversations around emerging technology and evolving business needs.
Aloke Agrawal, Director of Solution Engineering at Oracle Applications, kicked off the finance track by showcasing Oracle’s AI capabilities. He emphasized how Oracle AI enhances every layer of enterprise architecture—from infrastructure and data management to SaaS applications.
“Oracle AI is seamlessly integrated into our offerings at no additional cost, supported by strategic partnerships and top-tier large language models (LLMs),” Agrawal explained. With over 50 AI agents already deployed, Oracle is evolving from traditional ERP systems toward conversational ERP powered by its AI Agent Studio, enabling businesses to customize AI workflows specifically for their operational needs.
A highlight of the forum was the fireside chat featuring Abhishek Baxi, CFO of Unity Small Finance Bank, and Anooj Mishra, Oracle’s BFSI leader. Baxi illustrated Unity’s journey from relying on basic accounting tools to developing an integrated, AI-powered data warehouse supporting real-time analytics and financial planning.
“Our technology transformation integrated around 50 systems into core banking,” shared Baxi. “Automation enables us to generate timely insights at the click of a button—whether it’s forecasting NPAs or streamlining financial reporting.” He stressed the importance of clearly identifying challenges, learning from peers, and demonstrating progress to succeed in digital finance transformation.
Satish Gundewar, CFO of CSB Bank Limited, echoed similar sentiments on focusing on defined problems amid the deluge of AI solutions available. He highlighted concerns over data security, especially for listed companies apprehensive about sensitive data leakage.
At IDFC First Bank, AI is deployed through internally developed bots that ingest and interpret complex regulatory documents, enabling faster decision-making and compliance. Mayur Shibroor, Senior VP of Finance at IDFC, underscored the criticality of building comprehensive data ecosystems enriched with quality metadata, fostering a fertile ground for AI.
Ian Dsouza from NSE underlined AI’s potential to optimize mundane finance operations, such as transaction matching, while advocating for measured, secure adoption in highly regulated environments.
Upma Goel, CFO at Piramal Enterprises, advised finance leaders to demand skilled engineering talent and fully own AI initiatives, warning against superficial buzzword-driven adoption.
On the CX front, Sagar Mehta, Country Manager for Oracle Customer Experience Business, painted a vivid picture of the challenges and opportunities in delivering truly personalized customer journeys.
“Even after extensive technology investments, segmentation and personalization remain insufficient at the frontline,” he remarked. “Many firms aspire to deliver Amazon-like experiences, but what customers really expect are Zomato- or Swiggy-style real-time, seamless interactions.”
Oracle’s unified Customer Data Platform (CDP), Unity, integrates disparate data sources—including core banking and insurance systems—to orchestrate personalized, AI-driven marketing and customer engagement. Embedded AI handles tasks like next-best-action recommendations and send-time optimization, enabling BFSI firms to enhance customer lifetime value.
Supriya Ghosh of Mirae Asset Capital Markets highlighted leveraging a CDP to engage tier 2 and tier 3 customers with automated interventions increasing retention.
Amit Bhandare, CMO of Yes Securities, compared fragmented customer data to blind men feeling parts of an elephant, emphasizing the imperative to unify data for accurate customer insights.
Arti Somani from Unity Small Finance Bank and Samrat Ghosh of SBI General Insurance stressed that unified data clusters are essential to orchestrate diverse product journeys aligned with customer expectations.
The consensus was clear—fragmented, siloed campaigns no longer suffice. With evolving channels and shrinking margins, CX excellence has become a central business driver.
The forum underscored a pragmatic approach to AI adoption—prioritise identifying clear problems, build robust and secure data infrastructures, demand skilled talent, and utilize AI to amplify human decision-making rather than replace it outright. Vendors offering solutions vary widely, making informed vendor selection crucial.
Empower your business. Get practical tips, market insights, and growth strategies delivered to your inbox
By continuing you agree to our Privacy Policy & Terms & Conditions
