Tuesday,21 May 2024

Harnessing AI and ML for robust risk management

5 min read

Interviewed By Foo Boon Ping

Shekhar Bhandari, Kotak Mahindra Bank's president of global transaction banking, highlighted three major themes from Sibos 2023, focusing on the importance of security and risk management, customer experience, and India’s role in the global economy

Shekhar Bhandari, president of global transaction banking at Kotak Mahindra Bank, emphasised the importance of integrating advanced technologies like generative artificial intelligence (AI) and machine learning (ML) to enhance risk management and data security, one of the key themes of Sibos 2023.

The second theme of the event focused on elevating the experience of corporate banking customers who seek a unified view of their accounts, from cash, payments and collections to account services and loans for efficient working capital solutions. Kotak Mahindra Bank has introduced its FYN (For Your Needs) platform to meet these customer expections. Bhandari expressed optimism about the global economy, with India emerging as a strong economic growth engine supported by the Middle East and Southeast Asia.

Keywords: Kotak Mahindra Bank, Artificial Intelligence, Machine Learning
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