Reserve Bank of India Deputy Governor Rohit Jain today said technology was no longer merely an enabler of banking but was increasingly becoming part of banks’ risk architecture.
Addressing the 13th SBI Banking & Economics Conclave 2026 in Mumbai, Mr Jain highlighted the growing role of technology in banking and said technology is now embedded in almost every critical banking function, from core banking and payments to customer onboarding, credit assessment, fraud monitoring, and even regulatory reporting.
On artificial intelligence, Jain said it could improve customer service, fraud detection, risk assessment and productivity, but could also amplify errors and influence decisions related to credit, fraud alerts, customer access, pricing and service delivery.
Mr Jain that boards and senior management must have sufficient technological understanding to question assumptions, assess dependencies and ensure that resilience arrangements are properly tested.
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