Nuvama Group encompasses 3 businesses: Wealth management, asset management, and capital markets, and is one of India's leading firms in its category. Nuvama holds client assets of over 2.25 trillion, servicing over 1 million affluent individuals & HNIs as of Dec 2023. Riyaz Ladiwala is President and Head, Technology and Operations at Nuvama Group. Riyaz has an MBA from MET Institute of Management Studies. He provides insightful views on digital initiatives of the company.
Mehul Dani: How has your company benefited from implementing digital strategy in 2022-23? What are the changes for customers?
Riyaz Ladiwala: 2022 was a year of impactful moments in our technology journey. Following PAG's acquisition of a majority stake in Nuvama Group (previously known as Edelweiss Wealth Management), we took an initiative called 'Project Plutus' to establish a dedicated IT organization for Nuvama, to enable us to operate independently without any dependencies on group companies for technology infrastructure & network, enterprise applications, cyber security, and workplace services. Throughout this journey, we embarked on a range of initiatives that were critical to our success.
◆We set up a dedicated team, finalized partners, and operating model.
◆ We setup our new data centre and DR site and adopted a multi-cloud strategy (AWS, Azure and Oracle Cloud) to leverage the latest technologies and innovations and deliver world-class IT solutions.
◆We migrated over 900 servers, 330 applications and 3800 users seamlessly without any disruption to our operations.
◆ We took over IT operations from the group company's technology team and brought in a managed services partner to facilitate the transition.
Esta historia es de la edición May 2023 de Banking Frontiers.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición May 2023 de Banking Frontiers.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 9,000 revistas y periódicos.
Ya eres suscriptor? Conectar
It's a bank and a brokerage - FinecoBank
FinecoBank of Italy is a highly tech-enabled bank that is a combination of a bank and a brokerage:
A model for cloud adoption - Zurich Cantonal Bank
The bank is had opted for cloud to offer better service to its customers:
RBI Governor urges NBFCs to adhere to fair practices code
The Reserve Bank of India (RBI) Governor has urged Non-Banking Financial Companies (NBFCs) to strictly adhere to the Fair Practices Code, emphasizing sustainable growth and robust risk management in the sector.
Automated, Adaptive, Al-enabled Architecture is a must
Security heads from 2 BFSI companies reveal the key cyberfrauds and strategies to combat them:
Fraudsters too gain ground as real-time payment systems grow
There is a need for the technologies behind the real-time payment systems to gain a march over the methods of fraudsters:
Ethics & Challenges of AI in Cyber security: Navigating the Moral Maze
Even as AI is finding its place in the cyber security domain, an entirely new frontier of ethical challenges awaits.
Bangladesh Finance: 25% faster customer service; 15% higher customer retention
Bangladesh Finance, established in 1999, is a leading financial institution in Bangladesh.
Fino sparkles with technology & brand upshift
Fino Payments Bank started operations in June 2017, providing banking services to mass market customers, who are largely rural-based.
Savington Upshifts: 48% Faster, Churn down 31%
Savington International Insurance Brokers LLC, founded in 2006 by Dev Maitra, is a prominent insurance provider in the UAE.
Zoroastrian Bank: Multiple awards for being the Best
Established in 1927 by Sir Hormusjee Cowasjee Dinshaw Adenwalla, Zoroastrian Bank is a prominent urban cooperative bank headquartered in Mumbai, India.
