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declarations of Non-Performing Assets (NPAs). At BCT Ÿ EWS certified by the Institute for Development and Retain: The banking industry is also a custodian and measure compete against global competitors unless you have unique
Digital, we immediately launched a survey to assess the Researching Banking Technology during Banking of our country’s progress. It’s the pillar behind the fiscal strength.
readiness of banks in managing credit risks. We released the Technology Innovation Contest 2018 economy that we portray to the international community.
report, “Practitioners’ Insights on Credit Monitoring”, in I’d like it to remain that way. Play on your strengths and believe in yourself. Keep learning
Ÿ TECHNOVITI AWARD 2020 by Banking Frontiers
2016. It eventually helped us build the first-ever Early continuously. To earn trust, you have to consistently lead by
Ÿ The innovation of the year – Stevie Award winner, 2019 One thing you have to let go off as an example.
Warning System (EWS) for credit risk and fraud detection.
Ÿ FinTech Innovator of the year at Elets BFSI Game entrepreneur/leader?
We believed that we have to provide a disruptive product changer Summit 2019 About Jaya Vaidyanathan
that combines the RBI guideline with disruptive technologies Let go of emotional bias while making decisions. Incorrect
Ÿ Overall risk management solution provider of the year at Jaya Vaidhyanathan is the CEO of BCT Digital, Bahwan
such as AI and predictive analytics to remove human bias in decisions are inevitable; we can try to make it right, but
CISO Summit 2019 CyberTek (BCT) Group, a global technology company
the credit decision process and provide greater transparency sometimes it is best to cut your losses, learn from mistakes
to the credit system. The system toggles across 3,000 data In your opinion what is the most signicant aspect of and move on. specializing in Digital Transformation, Predictive Analytics and
points and triggers automatic alerts on possible fraud or IoT. She joined as an ‘intrapreneur’ and kick started their
leadership? Whom do you owe your success to? FinTech initiatives. This was to build global quality products for
defaults, equipping bankers with qualitative and quantitative
the Indian Banking systems keeping in mind the unique
measures of credit risk on a near real-time basis. This has It is the ability to inspire others. . Integrity, trust and passion My team. They have invested in my vision, have been the
now become a compliance requirement for not only banks are the vital ingredients. The ability to swoop and soar is an stepping stones to my success, and contributed towards challenges and culture of the banking system in India.
but also for NBFCs and is now a gold standard in the credit important skill. getting me where I am today. At BCT Digital, Jaya started FinTech’s risk management product
monitoring space globally. portfolio, today, known as rt360. What started as a product to
Celebrating shared success and a positive attitude ensures a The team is encouraged to come up with new ideas
EWS implementations average $50 billion asset size, nearly good morale and controls attrition. We treat each other as regardless of how impractical it may sound at first. We then track and reduce NPAs, the product portfolio now addresses
7 million customer records (monthly), 100,000 CBS fellow entrepreneurs with Trust and Freedom leading to an brainstorm and park it under categories – Great ideas that all types of risks a bank faces, including Model Risk,
records (daily) and up to 200,000 transactions. An estimated outcome based culture. I believe that this is a good are fit for now, immediate future, and distant future. So Operational Risk, Technology Risk, and Liquidity Risk providing
12,000 users in 2,000 bank branches across India bear motivation strategy and a key leadership attribute. there are no bad ideas and it is just a question of timing and a much-needed fillip in the banking industry. It combines the
testament to the success story of rt360 – EWS. investment. So my team is pivot in our collective success. latest in global technology including artificial intelligence, RPA,
Your perception of an empowered society. How far your and blockchain. Through these efforts, a new mantra was
Qualitative outcome industry has / can contribute for the same? Best thing about your job? created: “Reverse Innovation” meaning that products made in
India would have a global reach, instead of the reverse that
Ÿ Scalable to massive transactional volumes
Empowerment is the ability to make choices, let it be for an The ability to inspire the next generation of leaders. had been prevalent in global markets for the past decades.
Ÿ Drill-down reporting individual or for the society.
Ÿ Automated regulatory compliance, What is the legacy we as leaders, leave behind? Our
In the example of NPA, the taxpayers and the banks have to industry is not asset-intensive; it’s not brick and mortar. We
Ÿ Single source of truth
be empowered. The taxpayers are entitled to know what is will be remembered through our people – the future
being done with their money while banks who are
A single product called EWS can restore 500 M per Bank generation of leaders. How you inspire them matters.
custodians of trust need to keep NPA’s under check.
into our economy per year.
Our industry is at a beautiful juncture with the intervention
Anything that brings transparency and accountability into the
A product made in India for solving systemic issues in our of the latest technologies -AI/ML of today or the quantum
system, reinforces customers’ belief in the system, and puts computing of the future – we’re now looking at how they
banking system is now a product of choice in other markets
the controls back into their hands – I consider that an
backed by enhanced regulations in other countries. can be applied to our industry to make our collective lives
empowering factor. In a way, that’s exactly what our product better. That’s the best part of my job.
Ÿ Australian Prudential Regulation Authority released suite aims to do.
Prudential Standard APS 220 Credit Risk Management A message from you to all the future
PERSONAL GRID
compliance requirement in December 2019 entrepreneurs/leaders?
One thing you wish to change and one thing you wish to
Ÿ USA’s OCC’S interagency guidance on credit risk review It’s a tough road ahead, so hold fast to your dream and
retain about your industry?
system released in October ’19. don’t give up. Strategize and think through the entire
product journey before launching a product. Prioritize and
Change: I want to change the black-box approach to
Ÿ European Banking Authority (EBA) guidelines on focus.
enhanced disclosure of NPE & FBE are applicable from macro-credit decisions made in the country. I want to bring
in more transparency and trustworthiness, and restore the You are not trying hard enough if you aren’t failing or having
June 2020.
trust of my people in our country’s banking system. doubts. Move out of your comfort zone. It is hard to
Awards

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