**London**: Xebia, a leading IT consulting firm, is redefining digital transformation in the BFSI sector by embracing AI and cloud technologies. Global Head Varun Jain discusses the firm’s transition from traditional solutions to innovative AI-driven services, showcasing significant improvements in operational efficiency and customer engagement.
Xebia, a global IT consulting firm, has positioned itself at the forefront of digital transformation within the industry since its inception in 2001, highlighting a strong commitment to agility and innovative technology. Originally founded as a Java company in the Netherlands, Xebia has evolved into a full-service digital consulting organisation, employing around 5,000 professionals globally. Varun Jain, the Global Head of Banking, Financial Services, and Insurance (BFSI) at Xebia, shared insights into the company’s strategic direction and industry role in a recent interview.
Jain articulated that Xebia’s transition from traditional IT architecture specialists to a comprehensive digital consultancy underscores its focus on emerging technologies such as data engineering, cloud solutions, Generative AI, and Intelligent Automation AI. “We strive to do more than just deploy new technologies. We focus on building AI-driven applications, cloud infrastructure, and process automation,” Jain explained, showcasing the firm’s commitment to delivering tangible results.
In the current evolving landscape of the IT and IT-enabled Services (ITeS) sector in India, Xebia is concentrating on enabling enterprises to modernise legacy systems and leverage AI-driven service models. Jain commented on the importance of India within Xebia’s operational strategy, stating, “We ensure that global organizations can seamlessly adopt next-gen IT frameworks, accelerate innovation, and execute AI-led transformation at scale”.
Within the BFSI sector, Xebia is not merely implementing technology but is instead enhancing operational efficiency and customer engagement through the adoption of intelligent automation and AI solutions. Banks are increasingly relying on cloud platforms and conversational AI to refine customer experiences and streamline operations. Jain noted that financial institutions are actively deploying new technologies aimed at improving compliance and operational efficiency.
Jain further elaborated on the evolution of retail, highlighting significant changes in demand planning, supply chain processes, and the creation of personalised customer experiences through advanced technology. The transformation, however, extends beyond mere implementation; Jain stressed the necessity of governance and ensuring that technological investments yield genuine business benefits.
Specific use cases illustrate how Xebia’s initiatives have positively impacted operational efficiency. The firm utilised deep learning to improve turnaround times for aircraft at a major airport, achieving a 15% increase in on-time departures. Similarly, a global bank in the financial sector augmented its operational scalability by 30% after migrating its core processes to the cloud with integrated AI risk management. Furthermore, a leading marketplace in floriculture enhanced its demand forecasting accuracy by 5% through real-time data pipelines.
In terms of cost efficiency within the BFSI sector, Jain highlighted that AI plays a crucial role in enhancing security and customer engagement, thereby enabling more informed financial decisions. A particular global bank was reported to have reduced fraud by 35% using real-time anomaly detection, showcasing significant improvements in risk management with minimal manual intervention.
Looking toward the future, Jain forecasted that the BFSI sector in India is on the brink of a profound transformation, evolving beyond traditional IT automation to embrace cloud-native, AI-driven banking systems. The shift is driven by the increasing demand for digital transactions and real-time financial services. He noted that as financial institutions advance their AI-driven risk models, there will be enhanced automation in customer analytics and compliance, leading to improved agility in regulatory decision-making.
Lastly, Jain emphasised the importance of ethical governance alongside the technological advancements in AI, stating that the future of India’s banking sector will heavily hinge on data-driven finance and the seamless incorporation of AI for tailored services. The continuous emphasis on digital infrastructure will be vital for maintaining competitive advantages and fostering ongoing innovation in the rapidly evolving BFSI landscape.
Source: Noah Wire Services
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