Technology has moved from the back office to the core of business strategy in the banking, financial services, and insurance (BFSI) sector, according to KNC Nair, Chief Information Officer of Indel Money. In a recent interview, Nair highlighted how data and digital systems now play a decisive role in driving growth, managing risk, and building customer trust.
Nair noted that the role of the CIO has evolved significantly over the years. Once seen largely as a support function, the position has become a key business leadership role, closely aligned with operations, compliance, and long-term strategy.
Indel Money’s own transformation mirrors this shift. Originally a branch-led gold loan company, the NBFC has transitioned into a largely paperless, digital-first organisation. Today, the entire customer lifecycle—from onboarding and gold appraisal to loan servicing and closure—is handled through digital platforms. Customer identity verification is carried out using Aadhaar- and PAN-based eKYC, while almost all transactions are processed through banking channels, bringing cash usage down to near zero.
Regulatory compliance and data protection form a critical part of Indel Money’s digital framework. The company adheres to Reserve Bank of India guidelines and the Digital Personal Data Protection (DPDP) Act, supported by robust access controls, regular security audits, and systems that allow granular control of customer data.
Looking ahead, Indel Money is adopting a modern, API-driven technology architecture to enable co-lending models and partnerships with banks and other financial institutions. The company is also selectively deploying artificial intelligence across functions such as gold appraisal assistance, fraud detection, credit evaluation, and branch-level security.
According to Nair, technology at Indel Money is no longer a supporting layer but the foundation of the organisation’s operations. In a highly regulated financial environment, he said, digital systems are essential for ensuring trust, effective risk management, and sustainable business growth.
Read the full interview!
