AI-Led Innovation Reshaping India's Financial Services Ecosystem: CII

AI-led innovation is reshaping India's financial services ecosystem, driving efficiency and expanding market penetration. A CII session highlighted AI's role in accelerating fintech transformation and enhancing financial inclusion across underserved markets.

AI-led innovation is reshaping India's financial services ecosystem by driving efficiency, adopting intelligent technology, and deepening market penetration.

According the Confederation of Indian Industry (CII), artificial intelligence is accelerating the country's fintech transformation and expanding access to previously underserved markets. The findings were highlighted during a session titled "AI in Fintech: Transforming the Sector with Intelligence and Automation," organised by the CII on the sidelines of the India AI Impact Summit 2026.

AI's Role in Financial Inclusion and Aadhaar Security

Industry leaders and government officials noted that AI is unlocking new frontiers in financial inclusion at a significant scale. Vivek Chandra Verma, Deputy Director General, Unique Identification Authority of India (UIDAI), stated that the authority is strengthening its unique identity data management system to enable customer-centric innovation while detecting risks of fraud.

"Aadhaar does nine crore authentications every day. With almost 100% adults on Aadhaar and high authentication transaction volumes across sectors, robust fraud risk management becomes essential," Verma said.

He added that AI, advanced analytics, and models are already playing a key role in strengthening enrolment, updation, and authentication processes at UIDAI. Verma remarked that the Aadhaar tech stack will leverage future AI models for "ever-improving and more robust systems."

Industry Leaders on Leveraging AI and Digital Ecosystems

The session, moderated by Atul Gupta, Partner and Head of Digital Trust, Cyber and Tech Risk at KPMG, examined how the digital ecosystem can build on the success of financial inclusion.

Sajin Mangalathu, COO, CFO, and Chief Information Officer at Hero FinCorp, stated that companies are leveraging AI and digital capabilities to enhance operational efficiency and strengthen risk assessment frameworks.

Adelia Castelino, Founder and Managing Director of InSolutions Global, noted that technological advancements related to KYC and UPI have enabled the development of solutions that were not feasible earlier.

Soumyajit Ghosh, Chief Operating Officer at True Balance, explained that AI-enabled features are creating new opportunities to reach underserved market segments.

Saurabh Tiwari, Chief Technology Officer at PolicyBazaar, shared that technology development in the country allowed his firm to adopt customer-centric solutions and scale services.

Abhishek Lahiri, Vice President of Government Affairs and Public Policy for South Asia at Mastercard, said AI and technology are helping address risks faced by both service providers and users.

Navigating Risks and Evolving Governance

The discussions also addressed AI concentration risks, supply chain dependencies, and the balance between regulation and innovation. Participants examined the evolving governance frameworks required to support responsible AI adoption.

The session took place at Hotel Le Meridien in New Delhi on February 16, 2026, and included a diverse group of stakeholders from across the financial sector. (ANI)

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