Reimagining Strategies for Large Institutions in the Open Finance Era

The panel discussion, “Reimagining Strategies for Large Institutions in the Open Finance Era,” led by Samir Shetty, brought together financial leaders Manoj Kashyap, Shalu Kaushik, Bhavesh Jain, and Anand Raisinghani to explore how India’s open finance implementation–the account aggregator ecosystem–is transforming the financial services industry. The conversation revolved around leveraging real-time data, enhancing customer experiences, and adopting a customer-centric mindset in an increasingly digital financial landscape.

A key theme was the transformative role of the ecosystem in streamlining lending, portfolio monitoring, and creating a secure medium for data sharing. The discussion highlighted how these innovations are improving credit provision for MSMEs, shortening loan processing times, and fostering trust in financial ecosystems. By offering a holistic view of financial health, institutions are now better equipped to cater to diverse consumer journeys.

Panelists emphasized simplifying user experiences, enhancing financial literacy, and ensuring responsible data management to combat the rising risks of digital fraud. They argued for a shift in perspective—viewing customer data as belonging to the consumer, not the institution—ensuring transparency, security, and trust.

The panel concluded by advocating for a unified, customer-first approach, where innovation and responsibility converge to define the future of open finance. This marks a significant step towards empowering consumers and redefining institutional strategies in the digital age.

Catch up the complete conversation with the recording available on YouTube.