Next-Gen Security: How AI & Biometrics Are Reshaping Financial Data Protection

By: Rajashree Thandy, Sr.Director- Technology, Synechron

Rajashree Thandy is a seasoned IT professional with 25 years of experience, specializing in strategic planning, business development, and delivery management. With expertise in investment banking, she champions diversity, women’s empowerment, and digital transformation. Rajashree’s leadership fosters high-performing teams, operational excellence, and strong client relationships, advancing industry innovation and inclusivity.

In a thought provoking interaction with women Entrepreneurs Review Magazine. Rajashree shares her perspectives on the evolving balance between innovation and compliance in financial services, the key trends shaping technology’s future, and how financial institutions can leverage innovation to enhance customer experience and operational efficiency while prioritizing security and collaboration.

How do you see the balance between innovation and compliance evolving? What are the most significant trends you foresee shaping the future of technology in financial services?

The interplay between innovation and compliance presents an opportunity to create agile and resilient solutions that meet regulatory requirements and drive growth.

I’m particularly excited about the emergence of agentic AI. Unlike traditional AI systems that act as a supportive tool, agentic AI can operate with a degree of autonomy, making it adept at navigating complex regulatory environments. Imagine the possibilities this presents for streamlining and simplifying compliance processes.

Moreover, as cyber threats continue to increase, we must prioritize robust security measures. Biometric authentication and AI-driven threat detection are no longer optional; they safeguard sensitive financial data and maintain our clients’ trust.

Lastly, we can’t overlook the growing importance of environmental, social, and governance (ESG) considerations in supporting sustainable investing and enhancing reporting initiatives. This trend not only reflects societal values but also resonates with our clients.

How can financial institutions leverage tech innovations to enhance customer experience and operational efficiency? What role should technology leaders play in driving this transformation?

Financial institutions have a tremendous opportunity to harness technologies like blockchain and artificial intelligence (AI) to enhance both customer experience and operational efficiency.

For instance, blockchain brings a level of security and transparency to transactions, and AI is revolutionizing customer service. Think about how chatbots provide real-time support tailored to individual needs or how predictive analytics offer insights into customer behavior. This kind of personalization not only improves customer satisfaction but also helps institutions manage risk more effectively.

In this transformative journey, technology leaders like myself have a critical role to play.It’s not just about adopting new technologies for the sake of it; it’s about strategically integrating these innovations in a way that aligns with yourorganization’s goals and meets their regulatory requirements.

What role do technology leaders play in fostering collaborative ecosystems? What key principles should guide these partnerships to ensure mutual success?

Technology leaders act as bridges between the organization and their partnerships. This involves not only understanding the unique value propositions of each partner but also facilitating open communication and alignment on goals. 

One key principle that I believe guides partnerships is trust and transparency. This means being open about capabilities, limitations, and expectations from the outset. Transparency in decision-making and sharing insights can lead to more effective problem-solving and a stronger partnership overall.

Furthermore, agility is critical amidst the constantly evolving landscape because it encourages partners and organizations to experiment, iterate, and innovate to provide better solutions for customers.

Lastly, I cannot emphasize enough the importance of shared vision. Both, the organization and the partner must have a clear understanding of their objectives and how they can complement each other’s strengths. 

How should technology leaders approach the integration of security measures into the development lifecycle of financial products? What innovative practices can enhance the resilience of financial services against cyber threats?

We must recognize that cybersecurity is not just an IT issue but a fundamental part of our business strategy. As cyber threats grow in complexity, it becomes important toembed security-by-design principles into every stage of the development lifecycle for financial products.

First and foremost, we need to adopt a DevSecOps approach. This means embedding security into our DevOps processes right from the planning phase.

Next, implement a zero-trustarchitecture.This involves enforcing strict identity verification and network segmentation, ensuring that no one is trusted by default, whether inside or outside the network perimeter.

I strongly encourage leveraging AI and ML for threat detection as they can analyze large amounts of data in real-time and identify anomalies. Implementing user and entity behavior analytics (UEBA) can further enhance our threat detection capabilities.

Additionally,building a security-aware culture is critical to minimize human error.We must invest in regular training and awareness programs for our teams to keep them informed about the latest threats and safe coding practices.

How can organizations attract and retain skilled and adaptable talent? What innovative approaches can foster a culture of continuous learning and skill development?

Attracting and retaining skilled talent requires a multifaceted strategy that emphasizes technical expertise and a growth mindset. I believe the first step to go about this is to cultivate a learning-oriented culture where employees receivepersonalized development paths through coursesand mentorship programs.

Furthermore,  organizations must encourage innovation withcollaboration to foster a sense of community and shared purpose.

Lastly, upskilling and reskillingopportunities inthe latest technologies help employees stay up-to-date amidst technological advancements. Organizations are also then equipped to harness them in future projects.

Investment in talent development will only lead to a more agile and resilient organization, ready to tackle future challenges.

How should technology leaders prioritize customer-centric innovation while managing the complexities of large-scale program delivery? What frameworks can be employed?

Balancing customer-centric innovation with large-scale program delivery requires a strategic approach that integrates customer insights and agile methodologies. I always believe that an agilemindset across the organization allows teams to rapidly prototype and refine solutions.

But, in addition to agile frameworks, adopting design thinking is essential. This approach emphasizes empathy and user-centric design, ensuring that the solutions we develop truly meet client needs.

Another critical aspect is customer journey mapping. By visualizing the entire customer experience—from initial awareness to post-purchase support—we can identify pain points and innovative opportunities.

I emphasize establishing feedback loops after each project phase, not only with our clients but also within our teams to learn from our successes and failures and refine our processes.