Sendil Kumar.V
CTO - Shriram Capital

Key priorities for 2021
We have implemented state-of-the-art technologies for all business functions, including but not limited to customer servicing, or new business. We are now focusing heavily on the digital/online platforms and are also looking into automating our key functional areas with more AI and ML platforms.

In the last few months, we enhanced our digital platforms to enable customers to fulfil transactions with greater ease. This has involved augmenting the digital channels like web / mobile / social media. We have a large customer base in Tier2 and Tier 3 locations and rural India. To reach out to them we started the initiative ‘Your Mobile Your Branch’. Most of the new business activities which are done at the branch can be done on Mobile. Currently more than 60% of the new business transactions are happening through Mobile. Adoption significantly went up in the last few months.

Adopting Work-From Anywhere
The COVID situation was unexpected and challenging, to say the least. As we have the top-of-the-line technology and infrastructure in place, we were able to quickly shift the entirety of the work to set up the work from home model, thereby ensuring our employees’ wellbeing. This did not happen overnight, as we went through the transition in a phased manner. During this process, we learned a lot, and improvements were made to ensure the daily operations, customer services went seamlessly and without any downtime since the lockdown commenced. Our stringent security framework aided us in providing services without compromising the quality.

Based on the roles, we have enabled controls through Products, process and policies. Awareness and training are given to employees on a regular basis and collaboration helps us a lot.

Redesigning IT & Security strategy
Deployment of IT Security is an ongoing process in our group and we keep reviewing our security posture on time to time through the stakeholders.
As the security needs keep changing we can have only short term strategies. Should reduce the residual risks by mitigating within the time frame will help the application run hassle free.
We have Products like Privileged Access Management (PAM), EDR (Endpoint Detection and Response), SIEM (Security Incident Event Management) etc. As business is more in digital, Digital Threat monitoring Brand monitoring, anti-phishing and malware services are being deployed.
Further, we are focusing more on improving security on Cloud, DNS security, social media access etc.