I consider it as a honour to feature a professional with over 25 years of experience in Banking & Financial Services sector. Meet Sankar Krishnan, Partner at Capgemini and Author of “The Power of Mobile Banking”.
Tell us about yourself and what did you learn during the early stages of your career?
What I learnt : I didn’t learn this then so I am saying it in hindsight – what the joint family system in India teaches you cannot be taught by any other country . You learn about a lot of things from prior generations , the challenges and the opportunities and the conservative approach to win them .
What it does not teach you is risk taking but it teaches you everything more than any other place which is why Sundar and Satya will always be great leaders for a long time .
I used to be a regular at the US Embassy in Chennai and watch US News and Peter Jennings and it is arguable that the US Embassy in Chennai promoted a lot of thinking outside the box in Chennai in an era where the Internet and drinking water were both rare in the late 80s .
It is also a fact that when you have nothing there is a part of you that wants to try harder for the most part .
What innovation and Transformation should an Enterprise IT organization go through to be successful in the digital ecosystem?
Great question . The Enterprise needs to take a practical decision on the strategy it needs to take to change the direction of the enterprise . Typically we see that the front office often always leads innovation BU tech and Ops take time to react . Some of this is inertia and that is OK, some of it is regulatory and that is OK but a lot of it is also that the folks that are standing between the As Is and that future have some ideas that are more historical than futuristic .
The truth is for a variety of right reasons a bank cannot be a Facebook or Uber but very few are questioning why so ?
Fintech is advancing as a result and it is good to see a young group of people that want to change the world despite the opposition to this.
Also a lot of it is to do with the customers who are not embracing digital as quickly as they should so some banks are doing their best to straddle the past, the present and the future with Digital and Cloud as top priorities.We are working with a lot of these banks that want to be the future and drive the future of their customers through an optimal combination of operations and technology.
Do you believe blockchain, Artificial intelligence and other emerging tech will go mainstream and touch lives of end consumers and how?
Absolutely . Each of these will transform the way banks operate . I want to answer this from a consumer viewpoint.
1) Better risk management for sure.
2) Higher improved customer satisfaction as blockxhain and AI can fit the right customer with the right channel.
3) You can help the customer with getting him the right product and service with Nano seconds of his wanting them in a total online or mobility interaction but also help improve their quality of life through better money management and helping them identify risks and mitigate those risks ahead of it becoming a financial problem.
We would like to know about the book you authored – The Power of Mobile Banking: How to Profit from the Revolution in Retail Financial Services.
It was written to educate rather than make money . As a jury on our Innovators Race 50 and as an Advisor to Global Finance for their 30th anniversary publication of innovations in finance and my own advisory board and mentoring start ups – I go through a lot of amazing start ups and their business models from around the world and it is very clear that Mobile is clearly a winner.
With over 25 years of experience & leading several global initiatives, we will be pleased if you could share some tips/advice for the young professionals with us.
1) Don’t be scared to try something new.
2) Think about what are you disrupting and why will your consumer have a better experience when they use your service.
3) Simplicity is super key.
4) Think about local models that can scale to regional or global.
5) Do not think about your success as much as what problem you are solving.
6) Explain how you will make money assuming money was not an issue and think 3-5 years to exit.
Your future plans
I have been very fortunate to have great bosses at Citi , Standard chartered and Capgemini who have always supported me in many ways and are responsible for a great experience . I try to do the same for my teams . I would like to be the CEO of a well funded start up that I can help go global .
In many ways Capgemini is very entrepreneurial that you can have a variety of opportunities here where I am .
I would like to continue to mentor start ups . There is no higher form of energy than what you see in a start up .
The future is all about the following. Each of us as individuals has a clone who on a daily basis is getting smarter than us due to Social Engineering, Social Innovation, AI, Machine Learning, Cognitive and Predictive Behaviour Analytics. The Clone is winning and that is sad as we will all lose our individual identities soon . How much of a balance can we maintain between the real you and your clone . that is the challenge .
When your digital clone knows more about you than you, we have a big challenge and an opportunity.
What a beautiful thought process? Especially the answer for the last question. ” Each of us as individuals has a clone. How much of a balance can we maintain between the real you and your clone. That is the challenge.”
Lets use tech and science to create a better world and better ourselves.
Write to me at