Banking Transformed with Jim Marous Evolution of Product Innovation in the AI Era
May 22, 2025
Puneet Chhahira, VP and Head of Product Management and Marketing at Infosys Finacle, shares his expertise on navigating product innovation in banking. He discusses the challenges posed by legacy systems and regulations while championing a culture of innovation. Chhahira highlights how AI is revolutionizing customer experiences and product offerings, enabling personalized services. He emphasizes the vital role of leadership and consumer engagement in fostering agile decision-making. Finally, he addresses the future of banking with digital self-service and the integration of human elements in technology.
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Episode notes
Banking Product Evolution
- Banking product management evolved from heavily assisted channels to predominantly digital self-service channels.
- Emerging trends include product interactions moving outside bank devices into open and embedded finance ecosystems.
Make Innovation Core Business
- Treat innovation as core business for everyone, not an isolated activity.
- Provide clarity at the top and empower employees to own innovation outcomes.
Foster Innovation Culture
- Build a strong innovation culture by empowering all employees, not relying on isolated innovation labs.
- Ensure clarity of purpose at the leadership level to guide innovations effectively long term.