The game-changing possibilities of the cloud

Reviewing India’s journey through cloud transformation and exploring the challenges, hidden potential, and best practices

Atul Gupta
VP – Products

India is no stranger to cloud technologies. But there is still a perceivable lag in its journey towards cloud adoption. One could attribute this sluggishness to multiple factors – from the lack of well-rounded or clearly defined policies to inadequate funding or delayed access to technology breakthroughs in the field. But the COVID-19 pandemic has accelerated India’s push towards cloud transformation in a move that holds immense potential for the country’s business sectors.

Since the dawn of the decade, there has been a relentless focus on integrating innovative technologies into the business landscape. These technologies hold the potential to make business operations more fluid and flexible. Every few decades, the IT industry sees itself at the cusp of a paradigm shift that furthers its ability to rise to new challenges and deliver better outcomes. Cloud transformation constitutes one such instance.

The business potential of IT has increased manifold since the early 2000s. Digital adoption has skyrocketed, resulting in a massive explosion of data. Businesses need improved scalability and lower latency that in turn translates to more agility and faster turnaround time. These demands, in addition to the pursuit of increased competitive sustainability, are driving the market today. In such a competitive scenario, companies that are seriously eyeing a share of the marketplace have two options:

  1. They can power their technology requirements in-house, doing everything from purchasing the IT infrastructure to writing the code, testing, and running it – activities that require tremendous time and effort.
  2. They can buy plug-and-play components, customize them using minimum code and be up and running in a globally compatible ecosystem in virtually no time.

Cloud speaks to scenario #2, where it offers CTOs the potential to innovate and launch ideas faster, with better accuracy and more cost-effectiveness. It becomes a formidable ally for enterprises that wish to maintain a competitive standing in the market.

Cloud technologies pose a multitude of benefits to companies, including the following:

  • The flexible, pay-as-you-go models offered by cloud platforms enable organizations to shift gears from a highly limiting Capex-centric model to an agile Opex model.
  • Spikes in demand and seasonal variations can be catered to with a lower budget, without impacting performance or robustness.
  • Businesses that aspire to go global can scale up within minutes or be up and running almost instantaneously.
  • Component optimization is possible, as every aspect of any cloud platform is already researched thoroughly and reviewed by users across the world.
  • Cloud empowers companies with predicted performance enabled through high levels of observability and transparency.

India and fintech: Head in the cloud

It’s true that when compared with developed economies, India’s journey to cloud adoption is yet to come of age. However, the pandemic has rigorously turned around this lackluster standing. It has steered Indian enterprises in the direction of the cloud, with a reported 60% or more planning to leverage the cloud in the near future, according to IDC.1

But more willingness to onboard cloud does not necessarily imply a clear road ahead. Even at a purely operational level, there are many challenges that Indian industries, especially the public sector, encounter on their journey to cloud, beginning with the basics – the how-tos.

Bold moves or baby steps?

Luckily, these problems have not percolated the roots of India’s privately owned financial services space or its booming fintech sector. Fintech in India comprises some globally renowned private players, a testament to its ambition to evolve into a product innovation hub. In a business-as-usual scenario, cloud offers little or no challenges to such organizations. Nevertheless, fintech and FIs need to be prepared for unprecedented scenarios, particularly given the sensitive nature of their business. These sectors need utmost transparency in how their data and IP are being controlled, where their applications are hosted, the risks involved, and so on. They also need to be certain about the strategic goals behind cloud transformation and should go in with a clear exit strategy in the event that the vendor is unable to deliver to these goals. They need to be wary of vendor lock-ins; these limit the efficiency of their cloud operating model.

A planned foray into cloud computing can deliver fantastic results. We have witnessed this in many cases, including Axis Bank, which made tremendous progress in increasing its customer base and boosting productivity through cloud enablement. Having a cloud transformation committee would help govern the nuances of cloud adoption, including feasibility checks, weighing costs, benefits, and returns, and tracking progress. Going in without a committee may at the very least lead to unnecessary gridlocks and delayed progress.


In the last few years, we have seen a lot of hype around cloud and the benefits it has to offer. In the Indian context, these benefits depend on how effectively we can channelize the cloud operating strategy while involving key stakeholders and dedicated transformation committees and leveraging newer pricing and operating models. Having a clearly articulated operating model and the right skill base are instrumental to getting the cloud strategy right, as is having the keenness and willingness to adopt. Organizations need to be willing to go the extra mile and explore what’s new and exciting on the horizon, while not buckling down under the pressure to circumvent risks. Only then can they realize the full potential of the cloud and the paradigm-shifting benefits it stands to offer.


Atul Gupta

VP – Products

A profound expert in client-facing experience across the Globe in Sustainable Product Innovation, Strategy Development, Digital, Consulting, and Execution. His strong Technical and Functional Experience has led to scaling up team members consisting of Specialists, Architects, Scrum Masters & Storytellers

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BCT Digital launches cloud-ready ‘rt360 Credit Risk Suite’

Enabling Banks, NBFCs, and HFCs to achieve compliance in 90 days with savings of $100 M to $500 M per year

Chennai, 25 May 2021: BCT Digital, a global Fintech company specializing in regulatory technologies announces the launch of its specialized Cloud-Ready rt360 Credit Risk Suite. BCT Digital’s risk management product suite ‘rt360’ recently won the ‘Rising Star Award’, presented by Chartis Research – a leading provider of research and analysis on the global market for risk technology. The full-stack credit risk suite includes origination & on-boarding, credit monitoring, fraud monitoring, credit analytics, and other value-added services – all on the cloud. Their award-winning rt360 EWS (Early Warning System) is now an integral component of the cloud-ready credit risk suite. The cloud-ready product can now empower banks, NBFCs, and HFCs to quickly implement the product and immediately gain control over their asset book. The product is equipped to handle millions of data points through sophisticated AI/ML-based predictive models to detect patterns and quantify risks.

USPs of the cloud-ready suite

  • AI/ML-driven Rule Engine comprising 170+ pre-built early warning indicators; expandable to include custom requirements
  • Real-time alerts to prevent fraudulent transactions
  • Cloud-ready architecture tuned for on-premise / cloud / hybrid models
  • Horizontal and vertical scalability to meet increasing volumes and user-base.
  • The product handles massive volumes – 100s of branches,1000s of customers, and millions of transactions

While Indian banks reported a decline in bad loans in the last quarter of 2020, the impact of the extended pandemic situation may have major ramifications on the asset quality over the next two to three years. To tackle the situation, financial institutions need to invest in disruptive technologies to enable high asset quality through proactive and accurate risk detection and improve regulatory compliance.

“The severe disruption caused by the pandemic has created an urgency for financial institutions to monitor and take corrective measures on time to mitigate the impact of credit risks. Though public sector banks have preferred an on-premise solution, it is our constant endeavor to construct robust technologically advanced systems that empower not just the large banks but also smaller financial institutions to enhance their risk management capabilities. Cloud readiness will help these banks be compliant with RBI and DFS regulations on credit risk in 90 days. This will help them to mitigate the risk of bad loans and also enable them to reach their financial inclusion goals benefitting the MSMEs and retail segments as well. The cloud-enabled credit risk suite will build a future-ready and resilient organization by preventing possible frauds through real-time data”, said Jaya Vaidhyanathan, CEO, BCT Digital.

The rt360 Credit Risk Suite addresses concerns of risk practitioners in banks and other financial institutions involved in lending/investment decisions relating to building the banking book. It enables lenders and portfolio managers to have tighter control over their asset book at any point in the credit lifecycle, through various business services, such as the rt360 EWS, that are available in a highly modular form.

The cloud-ready rt360 – EWS is designed using state-of-the-art micro-services-based open API architecture, comes with connectors and automated data capturing mechanisms in real-time. These integrate with the internal and external sources to extract millions of data points on customers through means such as APIs / streaming feeds in addition to legacy methods. Sophisticated AI, ML models detect fraud patterns, minimize false positives and quantify risks through effective scoring algorithms that compute critical default statistics. The pre-built and extensible library of early warning indicators include regulator-prescribed indicators such as RBI’s RFA and the Department of Financial Services scenarios for India.

Alerts including those of fund diversion, negative news, and financials are sent to a configurable mobile responsive inbox. Bankers can leverage rt360 EWS’s powerful case management to manage alerts as per the escalation hierarchy for timely corrective action. The cloud-ready rt360 Credit Risk Suite enables financial institutions to focus on profitable credit growth while mitigating risk.

About BCT Digital

BCT Digital focuses on the risk management and regulatory needs of the banking and finance sector (BFSI), on a global scale. The core of BCT Digital’s offerings lies in the ability to identify gaps and building solutions that are both specifically suited to India and yet scalable to the global markets. BCT Digital, a niche player in the RegTech arena, adopts emerging technologies to enable financial institutions to mitigate risks, ensure liquidity and improve customer engagement. For more information, visit

About Bahwan CyberTek

Bahwan CyberTek (BCT) was established in 1999 and is a provider of digital transformation solutions across industry domains and has delivered solutions in twenty countries across North America, Middle East, Far East, Africa and Asia. Driving innovation through outcome-based business models, proven and powerful IP solutions, BCT is a trusted partner for over 1000+ customers, including Fortune 500 companies. With strong capabilities in Big Data & Analytics, Mobility, Cloud and UX / UI, BCT has over 2800 associates with technical and domain expertise in delivering solutions to Oil & Gas, Telecom, Power, Government, Banking, Retail and SCM / Logistics verticals. With a focus on joint innovation, BCT has partnered with leading global technology organizations such as Oracle, IBM and TIBCO to deliver differentiated value to customers.


Chandrakumar Natarajan

BCT Digital

For queries reach out


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