In an era where technology is reshaping every aspect of our lives, there are demands to make systems more efficient and effective. One industry and technology enthusiast is making waves in the world of banking, insurance and technology. Amit Kumar Sengupta, a senior executive, has been working on transformative projects that are changing how financial institutions operate and serve their customers.
With over a decade of experience in core banking product implementation and management, this tech guru is currently overseeing a portfolio worth millions. But it’s not just about the numbers – it’s about the real-world effect. “We’re seeing dramatic improvements in efficiency and customer service,” says an industry insider.” Amit Sengupta has been changing how customers interact with financial tools and services.
One of the achievements is a new ATM POS system for a major U.S. bank that now handles a whopping 60,000 transactions daily, moving about $2.8 million. That’s not just a statistic – it’s handling real money in real people’s hands, faster and more reliably.
But ATMs are just the beginning. This innovator has also launched a person-to-person payment system (think of PayPal) for one of the country’s biggest credit card companies. It attracted over 10,000 users on its very first day, showcasing the public’s appetite for innovative and easier-to-access financial solutions.
Additionally, he has helped modernise how a multinational bank collects debts and handles claims. This not only boosted revenue by 1.8% but also helped the bank keep more customers stay on the right side of complex regulations.
By modernization what is meant here is that he has helped break down complex legacy systems into manageable Microservices Architecture, which leads to faster deployment and development of new features, saving time.
When talking about saving time, in another impressive feat, our tech leader managed to reduce manual work in a major payment network by 20%, freeing up staff to focus on more important tasks by automating tasks. This kind of efficiency gain is crucial in an industry where every second and every dollar counts.
AI can’t be left out of the conversation when talking about making things faster. He has encouraged teams to use artificial intelligence to manage IT operations (AIOps) and have trained teams to use AIOps in their daily functioning.
By using AIOps, they reduced the number of unnecessary alerts by 22% and gained a 22% increase in efficiency.
Of course, Newton’s law of inertia means that bringing change isn’t easy. Our tech leader faced numerous challenges along the way in bringing in these changes. Updating ancient computer systems without crashing the bank’s daily operations was a constant concern. Convincing long-time employees to embrace new technologies required patience and persuasion. Keeping everyone’s money and data safe while implementing new systems demanded constant vigilance. Persuading executives to invest in expensive but necessary upgrades called for rock-solid business cases. And training staff on complex new tools and processes required a commitment to ongoing education.
Then, it’s not just about getting the work done, it’s also about understanding people, the needs of the financial institutions, and the industry to be at the top of the field.
He has also written several articles on technical topics like microservices, AI in IT operations, cybersecurity as well as on how to understand the sentiments of customers, based on which companies can understand their customers.
Looking at the current trends, our industry leader has some predictions. He foresees artificial intelligence playing a bigger role in everything from fraud detection to customer service chatbots. Cloud computing is finally gaining traction in the banking world promising faster and more flexible services. Edge computing could make mobile banking apps even speedier by processing data closer to the user, and as banking becomes increasingly digital, cybersecurity will only grow in importance.
He further tells us to keep on experimenting small scale and to ramp up the application once it works. “It’s not all about tech though, transformation involves a holistic approach considering how changes in technology affect business models, processes, and most importantly, customer experiences”, he explains.
Also, employees and companies who survive and embrace change will be fostered in today’s tech environment, for that continuous understanding is required to thrive.
As banking continues its digital transformation, it’s clear that innovative leaders like Amit Sengupta will play a crucial role, by bridging the gap between old and new, between tech and people, and between bank and tech. He is not just changing banks – individuals like him are changing how we all interact with our money and the growth of society.
