Nafees Ahmed, CIO Indiabulls Group



Technology helped Indiabulls Housing Finance to grow 15 times in a year


Redefined CIO role  
Earlier, CIO role was just a support function where one needs to take care of the IT infrastructure, legacy ERP systems and production support. When we started the digital journey at Indiabulls couple of years back, the role has completely reversed. Now I am in continuous discussion with my top  management, deciding on the strategy for the new product launch, new companies launch and how to grow the business. Earlier, there were no major interactions with the top management, but now business understand the importance of technology and hence, technology has become an integral part of the business decisions.   


Digital / Innovation Approach
In BFSI sector, we are the leader in adopting the advance digital technologies to create innovative solutions for our customers as well employees, resulting in major disruption in Indian market. Innovation is not the forte of big technology companies only, even the smaller vendors or even your employees can create innovative solutions. That’s why we are engaged with multiple small vendors who have innovative approach and even run some innovation marathons within our organization. We have got very innovative solutions from our employees for the problems they face in their day to day working, by using technology.. Similarly, we have run these marathons for our external vendors, students, individuals also and we got some innovative technology solutions. We strongly believe that innovation can be achieved using the participation of employees, which makes them feel empowered by contributing in the organization growth.


Key Priorities
At the group level, we are running the digital program for the last one and a half years and we have made a significant progress on this front. All our field force, be it sales, collections, technical etc. or DSAs, third party vendors like FI, FCU agencies, our customers  are on mobile platform, resulted in huge productivity and efficiency improvement and much better customer experience. As we are interacting with our customers on digital platforms and there is no physical connect with them, it becomes very important for us to understand the customer credit worthiness, intent to pay back etc before disbursing a loan.  So, we are collecting a lot of financial data directly from the sources to prevent the fraud and to understand his credit worthiness. At the same time we are collecting data from social media and other alternate sources about the customers and  analyze it to provide better experience and more suitable offers to our customers. As most of the customer data we are getting in electronic format, we have implemented artificial intelligence in loan underwriting process in  a big way. It helps us in detecting the fraud and improving the offers to our customers continuously. Now we are extending the AI implementation to our customer service department as well to improve the customer experience and employees efficiency / productivity. Another major area, we have identified for this year is Robotic process automation in our internal departments to improve their productivity, manage the growth and better customer experience by reducing the overall TAT for loan disbursement process.


“Our main business is happening by using technology, I would say that the business has grown 15 times in one year. That’s the level of growth we are getting. So my senior management is very positive about the technology and their mantra is that technology is not about growth, it is basically the question of your survival. If you have not adopted new technologies, it would be very difficult for us to survive the competition.”

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