Managing Director & Senior Partner; Global Leader, Financial Institutions Practice
Mumbai - Nariman Point
Saurabh Tripathi currently leads BCG’s Financial Institutions practice in the Asia Pacific and leads the firm's work in crypto currency and decentralized finance globally. In a career spanning over two decades, Saurabh has advised financial services clients on strategy development, digital business builds, post-merger integrations, digital transformation, and large organizational change. These engagements have included the end-to-end build of advanced digital banking platform; the design and implementation of hyper-personalization engine, Mar-tech stack, cross-sell campaigns, and organizational change toward financial goals; the design and implementation of an advanced digital performance management system for a large bank, the build-out of a partnership business for a bank, based on integration with digital platforms; and the design and implementation of agile ways of working in technology and operations.
Saurabh is a prolific contributor to the finance ecosystem and forums. He chairs FICCI’s Fintech Committee and Co-Chairs FICCI Digital Asset Committee. He has worked over a decade with Indian Banks Association (IBA) to build the FIBAC industry data benchmarking platform and flagship conference.
BCG’s 20th annual study of the global payments industry examines how all participants in the payments ecosystem—including acquirers, issuers, networks, wholesale transaction banks, and fintechs—can raise their game by pursuing new strategies for growth.
Saurabh's story demonstrates BCG's willingness to take on bold challenges.
Banks need to embrace holding structures that can unbundle ‘Fintech Premium’ to attract talent. The industry needs to actively promote Open Network for Digital Commerce (ONDC) platform to ward-off the threat of BigTech. The regulator and government need to re-imagine co-lending as a digital marketplace and unlock massive potential of blockchain.
Consumers increasingly want all their needs met with a tap on their smartphone. They may vote with their feet if banks don’t deliver.
In an increasingly digital world, banks have taken various strides on digital transformation. While several banks in India have invested and reaped significant rewards by digitizing transactions, automating back-office operations and reimagining customer journeys, achieving excellence in digital sales still remains elusive.
Banks need to start acting like digital giants before digital giants act like banks.
Today's corporate banks operate in a challenging and turbulent environment. To thrive in this environment, corporate banks need to ride the digital wave and leverage the currency of big data with one of the most powerful tools of modern banking – advanced analytics.
Public sector banks are the mainstay of the Indian Banking industry. They have dominant market presence and play an important role in fueling investment needed for the country's economic development.
India’s 60 million micro, small and medium enterprises (MSMEs) make an enormous contribution both to India’s employment and its gross domestic product (GDP). However, India has yet to reach its potential, lagging 10 percentage points behind the US and 23 points behind China in GDP contribution.
The goal is not to unseat the tech giants or even to defend market share. It’s to acquire the tools and the mindset you need to pursue opportunities in the digital age.
The banking industry has not fully captured the power of the data that it has (their hidden treasure), but with the growth of advanced digital and data platforms in India, banks need to embrace a paradigm shift, which will help them turn their fortunes.
The role of digital in financial services is rapidly expanding. However, the financial services industry has not fully recognized the rising importance of digital among Indian consumer. Financial institutions need to leverage digital to completely transform the customer experience. They will need to transform themselves in three stages.