FirstHand
Akhil Handa

Akhil Handa

Global Banking Leader

FirstHand

My attempt to chronicle the evolution of digital platforms in banking and adjacent markets—from the inside of a $300B global bank.

Former President & CDO • Led digital transformation serving 200M+ customers •Read my full story →

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Global Digital Banking Index
42.8%
Across 118 countries
AI Adoption Index
23.7%
Top 50 financial institutions
AI Banking Transformation Live
Real-time Payments
+64%
Open Banking APIs
+37%
Digital Onboarding
+82%
Premium Content
Featured Insight
Deep dive into the latest trends shaping the digital banking landscape
The Risks of Outdated Software: A Case for Modernization in Banking and Beyond
Featured
AI in Banking, Digital Transformation•JUN 5, 2025
The Risks of Outdated Software: A Case for Modernization in Banking and Beyond
Outdated software isn’t just inefficient—it’s dangerous. From nuclear systems running on floppy disks to billion-dollar frauds hidden in legacy databases, the risks of relying on antiquated tech are growing. This blog unpacks why banking and government institutions still cling to legacy systems, and how AI-led modernization is no longer a luxury but a necessity for survival and competitive edge.
By Akhil Handa
Recent Articles
BFSI x Regulation x AI: How to Build Without Breaking the Rules
Fintech Innovation•JUN 12, 2025
BFSI x Regulation x AI: How to Build Without Breaking the Rules
In fintech, compliance is often seen as a hurdle—but what if it's actually the blueprint? This article unpacks how regulation in the BFSI sector is not a barrier to innovation but the operating system it runs on. By decoding regulatory intent—from customer protection to market integrity—and embracing sandboxes, firms can align ambition with accountability. As AI reshapes decision-making in finance, the need for explainability, auditability, and human oversight is more critical than ever. The takeaway? Regulation isn’t a bug—it’s a feature. Learn to build with it, not around it.
By Akhil Handa
DLGs, Provisioning & The Illusion of Comfort
Fintech Innovation, Digital Transformation•JUN 5, 2025
DLGs, Provisioning & The Illusion of Comfort
In May 2025, the RBI made a bold regulatory shift by disallowing NBFCs from offsetting loan provisions using Default Loss Guarantees (DLGs) — even when backed by cash. While this may seem like penalizing prudent risk-sharing between fintechs and lenders, it underscores a deeper philosophy: true resilience lies in self-reliance. The RBI’s move signals that provisioning isn’t about probable recoveries but about capital readiness. It’s a call for NBFCs to carry their own balance sheet burdens — without leaning on external assurances — and a reminder that guarantees, no matter how secure, are not substitutes for accountability.
By Akhil Handa
Why Bank Tech Arms Could Be A Big Deal Right Now
AI in Banking•MAR 7, 2025
Why Bank Tech Arms Could Be A Big Deal Right Now
The establishment of tech arms within banks is not a novel concept but has gained significant relevance in today's landscape. Various banks, such as SBI and IDBI, have ventured into this space, generating substantial revenues. However, the focus has primarily been on foundational technology rather than innovation.

As India faces a technological upheaval in the BFSI sector, the integration of IT expertise is crucial. With a workforce of 5.4 million in Indian IT, and the ongoing transition among major IT players, there's an opportunity for banks to leverage this talent.
By Akhil Handa
The Great Data Devaluation: When AI Turns Gold into Gravel
AI in Banking•JAN 28, 2025
The Great Data Devaluation: When AI Turns Gold into Gravel
Akhil articulates the risks posed by AI-generated data to the BFSI sector, likening it to toxic sludge that undermines data integrity. The evolution from hard to soft collateral, driven by exponential data growth, has led to initiatives like OCEN and GST-Sahay, establishing 'data-collateral' in lending decisions.

However, the rise of AI-generated data threatens to corrupt these systems, as evidenced by the emergence of services like Pearl that promote human-verified results. To combat this, a three-pronged strategy is proposed: fortified source-system authentication, recalibrating social signals, and implementing transaction intelligence.
By Akhil Handa
Why are we stuck with 1990’s core banking solutions?
Digital Transformation•JAN 20, 2025
Why are we stuck with 1990’s core banking solutions?
Core banking solutions (CBS), developed in the 1980s and 1990s, transitioned banks from manual ledgers to digital systems, enhancing efficiency and control. However, these systems, initially designed for branch-based operations, are now outdated and unable to meet evolving customer expectations driven by digitalization. Over three decades, CBS have been extensively patched, leading to significant technical constraints, including reliance on structured databases ill-suited for AI applications.

Customization for regulatory changes has created complexities, while a proliferation of satellite systems complicates migration to new core solutions. As non-banking entities advance at internet scale, banks risk falling behind. To address these challenges, a proactive, AI-focused strategy is essential, emphasizing collaboration between traditional banks and fintechs to capitalize on emerging opportunities in the banking landscape.
By Akhil Handa
Let the Feriwala Come to You!
Fintech Innovation•JAN 13, 2025
Let the Feriwala Come to You!
Akhil envisions a future where e-commerce mirrors the proactive approach of traditional feriwalas, with merchants bringing offers directly to consumers instead of waiting for them to search. This concept utilizes AI-powered personal assistants that can scan the web, negotiate prices, and curate tailored options based on user preferences.

Flipping the current HTTP protocol from a request-response model to a proactive merchant-ping model could revolutionize commerce. This approach would enable merchants to respond to user-defined intents in real-time, transforming advertising into consent-based, intent-driven messaging.
By Akhil Handa
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Topics I'm Following
These are the areas I'm actively tracking and documenting as they evolve and reshape the financial landscape.
AI in Banking
How artificial intelligence is reshaping financial services
Digital Transformation
Case studies and insights on banking's digital journey
Fintech Innovation
Startups and technologies changing how we bank
Global Trends
International perspectives on banking evolution
LinkedIn Articles
Akhil Handa on LinkedIn
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Akhil Handa - Former President & Chief Digital Officer Bank of Baroda
About Me
I'm Akhil Handa, and I've spent the last two decades working in digital banking and financial services. Most recently, I served as President & Chief Digital Officer at Bank of Baroda, where I led digital transformation initiatives across 25 international markets, helping serve over 200 million customers.
I use FirstHand to share what I've learned about the evolution of digital platforms in banking. Having worked at institutions like JPMorgan and contributed to digital finance policy, I try to offer practical insights on where the industry is headed.