Digital Transformation in Banking

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The School of Business and Management (MBA) at CHRIST (Deemed to be University), Pune Lavasa Campus, organized a highly insightful session on “Digital Transformation in Banking” on 26th April 2025. The event, part of the institution's ongoing efforts to integrate industry relevance into academic learning, featured Dr. Deepankar Roy, a distinguished authority on FinTech and banking innovations.

The session commenced with a welcome address, setting the tone for an engaging and thought-provoking event. Dr. Roy introduced the concept of digital transformation, contextualizing its significance within the banking sector. He emphasized how the rapid adoption of digital technologies, such as artificial intelligence, blockchain, cloud computing, and big data analytics, is fundamentally reshaping banking operations, customer experiences, and regulatory landscapes.

A notable highlight of the session was the discussion on Aadhaar Card creation and integration in digital banking services. Dr. Roy emphasized how India's unique identification system, Aadhaar, has revolutionized banking operations by simplifying customer onboarding, enabling seamless e-KYC (Electronic Know Your Customer) processes, and promoting financial inclusion. He elaborated on how banks and FinTech platforms leverage Aadhaar-based authentication to offer instant account creation, digital lending, and government subsidy disbursements, reducing the need for physical documentation and improving access for rural and underbanked populations.

The speaker provided real-world examples of banks that have successfully transformed digitally, such as DBS Bank and JPMorgan Chase, illustrating how these institutions have leveraged technology to enhance customer engagement, improve operational efficiency, and maintain competitive advantage. He also highlighted the critical challenges faced during digital transitions, including cybersecurity threats, data privacy concerns, cultural resistance, and regulatory compliance issues.

A major part of the session focused on emerging trends like open banking, digital-only banks (neo-banks), robo-advisory services, and personalized financial services powered by machine learning. Dr. Roy underscored the importance of customer-centric innovation and the strategic use of data to offer customized financial solutions.

The audience, comprising MBA students, faculty members, was actively engaged throughout the session. An interactive Q&A segment allowed participants to delve deeper into topics such as the future role of human bankers in an increasingly automated world, ethical considerations in AI-driven financial services, and career opportunities in the digital banking space.

The session concluded with a vote of thanks, where the faculty coordinator acknowledged Dr. Roy’s invaluable contribution to broadening the participants’ understanding of digital transformation in banking. Feedback collected after the event reflected high levels of satisfaction, with attendees particularly appreciating the practical insights and actionable strategies discussed.


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