IDFC FIRST CEO V Vaidyanathan says AI will transform banking
IDFC FIRST Bank's Managing Director and CEO, V Vaidyanathan, says artificial intelligence is set to reshape how banks work, way beyond what earlier digital upgrades did.
Speaking at the Moneycontrol Startup Conclave 2026, he shared that AI could transform customer experience and credit delivery, and has already developed digital and paperless lending processes in parts of its business.
IDFC FIRST paperless lending boosts inclusion
These digital and paperless lending processes make it easier for small businesses and lower-income customers to get loans by using data like GST returns, speeding up approvals, and boosting financial inclusion.
Vaidyanathan also called the new MDR charges on some UPI payments a good move for digital payments, but reminded everyone that, while AI can do a lot of good, it needs careful handling so consumer protections keep up as tech evolves.