MUMBAI: Artificial intelligence can transform banking and accelerate financial decision-making, but accountability for those decisions must remain with people, Krishnakumar K T, Managing Director of Oleevia Grameen Credits, said at the Global Fintech Fest (GFF) 2026 in Mumbai.
Speaking during a panel discussion titled “AI Guardrails – Building Safe Financial AI Systems,” Krishnakumar stressed that financial institutions should not measure AI adoption only by speed and efficiency. He called for safeguards to ensure that AI-driven systems operate transparently and keep customer interests at the centre of financial decisions.
“AI can automate decisions; but accountability cannot be automated,” Krishnakumar said.
He was part of a panel that also featured Sandeep Agarwal, Cisco’s CTO for Security in India and South Asia; Vinay Kumar, Founder and CEO of Arya.ai; and Sudarshan R, Co-founder of Credit Mantri. The session was moderated by Manish Mimani, Founder and CEO of Protectt.ai.
Krishnakumar argued that the growing use of algorithms in banking should not reduce customers to mere data points. According to him, bankers must continue to consider the broader economic and social significance of each customer while using technology to support financial decisions.
“AI may see customers as data, but as a banker, I see every customer as an important link in the economic growth of our country,” he said.
He added that identifying genuine financial needs and providing appropriate credit could improve individual livelihoods while also contributing to broader economic activity. He described this approach as important to ensuring that technology supports meaningful financial inclusion rather than focusing solely on faster processing.
Krishnakumar also described banking as a social responsibility, saying its fundamental role is to channel surplus capital towards people and businesses with genuine financial needs while protecting depositors’ money.
He said banks must accept deposits from those with surplus funds, identify genuine borrowers, provide loans that can financially empower them, and simultaneously safeguard depositors’ money while ensuring its safe return with a reasonable return.
The discussion at GFF 2026 focused on the growing need for AI guardrails in financial services, particularly as automated systems increasingly influence decisions that can directly affect customers’ finances.
The Global Fintech Fest brought together industry leaders and experts to discuss developments across fintech, artificial intelligence, digital finance and financial inclusion.
