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%

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Featured Insight

Deep dive into the latest trends shaping the digital banking landscape

RBI’s Digital Banking Draft Guidelines: A Hard Reset with an Open Canvas

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Digital Transformation, Fintech Innovation•JUL 31, 2025

RBI’s Digital Banking Draft Guidelines: A Hard Reset with an Open Canvas

The RBI’s 2025 draft directive on Digital Banking Channels Authorisation is a major regulatory reset, consolidating 16 fragmented circulars into one cohesive framework. It brings much-needed clarity, ensuring uniform compliance across all banks—including RRBs and cooperative banks—while strengthening customer protections with features like explicit consent and read-only modes. Yet, while it simplifies governance, the draft risks slowing innovation by banning third-party promotions on digital platforms, potentially hampering ONDC integrations and embedded finance. Smaller banks may also struggle with the uniform compliance load. The underused Digital Banking Units (DBUs) offer a chance to reinvent legacy banking—if granted operational freedom. Now, with regulation streamlined, the next step is for banks to treat digital not just as a service channel, but as a strategic business driver.

By Akhil Handa

Recent Articles

AI in Banking•AUG 6, 2025

Banking Accountability in the Age of AI: Who’s Really in Charge?

AI won’t eliminate accountability in banking—it will complicate it. While AI brings speed, scale, and consistency, it also blurs the lines of responsibility. When decisions come from systems no one fully understands, blaming “the algorithm” becomes dangerously easy. True accountability in this new era means building AI not just to decide—but to oversee, audit, and predict failure. We can’t go back to human-only oversight. But we also can’t hide behind AI. The future of banking demands new control systems—and a redefined architecture of trust.

By Akhil Handa

Fintech Innovation, Digital Transformation•JUL 21, 2025

Moats over Markets? JPMorgan’s Data Fee Could Reshape Fintech

JPMorgan Chase, the titan of U.S. consumer and SME banking, is making waves by charging third-party fintechs—like Plaid—hundreds of millions to access customer data via APIs. On the surface, it appears to be a strategic monetization move. But dig deeper, and it's clear: this isn’t about revenue. With API fees generating less than 0.5% of JPMorgan’s annual income, the goal is control, not cash. By raising access costs, the bank is effectively tightening its grip on the fintech ecosystem—potentially pricing out smaller innovators and stifling the open-data-driven progress that has defined modern finance. This quiet power shift raises a critical question: who truly owns financial data—the bank or the customer? In contrast to countries like India, where open banking policy puts data control in the hands of the user, JPMorgan’s approach could signal a retreat from openness. If not tempered with thoughtful safeguards, such a move risks protecting the core while starving future innovation. The battle for the future of finance may not be over infrastructure, but over who chooses to build bridges—or walls.

By Akhil Handa

Fintech Innovation, Digital Transformation, Global Trends•JUL 8, 2025

BFSI Is Madly Innovative (Contrary to What One Might Think)

In a candid and insightful narrative, the author challenges the myth that innovation in BFSI (Banking, Financial Services, and Insurance) is stagnant beyond visible consumer tech like ATMs and UPI. Drawing on decades of global banking and fintech experience, the piece dives deep into the hidden layers of financial innovation—from risk engineering and capital structuring to distribution and access. With examples spanning global markets, from India’s UPI and Account Aggregators to DeFi’s smart contract-powered lending, the article argues that the real transformation in finance is subtle, powerful, and happening beneath the surface.

By Akhil Handa

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

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

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

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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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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.