Praveen Kumar Talks About Technology, Upskilling & Assisted Automation || GCC Conclave 2019

Summary

In this insightful discussion, Praveen Kumar, Co-CEO of Barclays Global Service Centre in India, sheds light on the company's evolution in India over a decade. He highlights Barclays' focus on leveraging technology for cost efficiency and revenue generation, emphasizing the importance of digital and analytical capabilities for customer engagement. The conversation delves into the future of automation, with a particular emphasis on AI and machine learning, and the challenges and opportunities in nurturing a skilled talent pipeline to maintain a competitive edge in the global market.

Takeaways

• 🏦 Barclays has a significant presence in India with a focus on operations, technology, risk, and finance functions.
• 🌟 The company is pivoting towards externally focused strategies to open up revenue opportunities and reduce costs.
• 🔧 Barclays is building deeper expertise and capabilities to simplify operations and create platform-based, industrialized services for efficiency.
• 💡 Investment in innovation, particularly digital and analytical capabilities, is key to enhancing customer insights and engagement.
• 📈 The adoption of emerging technologies is crucial for Barclays to stay competitive and provide a seamless, always-on customer experience.
• 🛠️ Barclays' Global Service Centre in India is central to the bank's technological transformation, focusing on agile development and frequent updates.
• 🏆 The mobile application developed by Barclays has received high praise and awards, showcasing the impact of the digital team in India.
• 🔄 The shift from monolithic releases to more frequent updates reflects a change in how Barclays delivers technology to its customers.
• 🤖 The future of automation at Barclays involves assisted automation through machine learning and AI, which will aid in decision-making processes.
• 🧠 The talent pipeline in India is being nurtured through continuous learning, upskilling, and fostering a T-shaped skill set for employees.
• 🌐 Barclays emphasizes the importance of top talent and expertise over the number of employees, focusing on the value and skills brought to the table.

Q & A

What is the significance of Barclays' presence in India for over a decade?

Barclays has been in India for more than a decade, establishing a significant scale in core capabilities around operations, technology, risk, and finance functions. This presence has allowed the company to build deeper expertise and capabilities, contributing to revenue generation and cost reduction.

How has Barclays pivoted its operations in India over time?

Barclays has pivoted from a traditional operational focus to thinking 'outside in' for the bank, focusing on how to help the bank open up revenue streams and drive costs down through simplification and creating platform-based industrialized services.

What role does Barclays Global Service Centre in India play in cost reduction?

The Global Service Centre in India plays a crucial role in cost reduction by leveraging its scale to drive simplification and efficiency, which in turn helps to create an impact on the cost side for Barclays.

How is Barclays investing in innovation to better connect with customers?

Barclays is investing in digital and analytical capabilities to provide stronger customer insights and improve customer engagement. This includes developing stronger capabilities in emerging technologies to enhance the customer experience.

What is the current landscape of technology absorption in the banking industry, according to Barclays?

The banking industry, including Barclays, is focusing on delivering technology faster and in a more bite-sized manner, moving from monolithic annual or semi-annual releases to more frequent updates that customers can interact with.

How is Barclays adapting to the shift towards always-on technology in the enterprise?

Barclays is adapting by changing the way it delivers technology to be faster and more aligned with consumer expectations for always-on, seamless updates and frictionless experiences.

What specific functionalities has the digital team at Barclays developed that have been recognized?

The digital team at Barclays has developed functionalities for their mobile application, which has been rated as a five-star application and has won an award for its excellence.

How does the agile team organization contribute to the development of digital journeys at Barclays?

The agile team organization allows for end-to-end functionalities to be delivered by feature teams, which are part of a common backlog and work towards delivering features into production for the customer.

What is the future of automation in the banking sector according to Praveen Kumar?

The future of automation in the banking sector is in the assisted automation space, where machine learning and AI technologies are leveraged to make assisted decisions, with the potential for models to become more sophisticated over time.

What are the challenges and opportunities in the talent pipeline for Barclays Global Service Centre in India?

The challenges include the need for continuous learning and upskilling to keep pace with technological advancements. Opportunities lie in investing in t-shaped thinking, where individuals have deep expertise and a broad understanding of the ecosystem, and creating a learning environment that fosters innovation.

How is Barclays addressing the need for upskilling its workforce in India?

Barclays is addressing the need for upskilling by investing significantly in continuous learning, creating a learning environment, and organizing hackathons to gamify and accelerate learning opportunities for its employees.