Praveen Paulose, MD & CEO, Celusion Technologies

Born in 1978 in Mumbai, Praveen completed his schooling from St. Mary’s High School, Mt. Abu(Boarding School in Rajasthan).He completed his Bachelor of Engineering in Computer Science from D.Y. Patil College of Engineering, Mumbai. After a brief period of employment, he became a first generation entrepreneur when he started Celusion Technologies.The idea was based on the premise that they could build great software but today their software is changing the way people look at finance.


In the financial sector, innovation is driving corporate agendas and transforming business models. Financial technology innovations (FinTech) have brought unprecedented alliance and competition to the financial industry, prompting regulatory bodies to adapt and grow. Pioneering Fintech start-ups are leveraging evolving technologies, such as AI, ML, Cloud technology and Big Data, to ride the wave of flourishing business models before the existing business models wane. The financial industry must have innovative leadership to capitalize on the potential presented by technological breakthroughs. Visionary leaders must recognize and welcome upcoming technology advancements to compete successfully with the new business competitors and stay ahead in the game.

All financial enterprises must act swiftly and respond to the new business challenges through innovative leaders capable of delivering efficient solutions.

Leveraging cutting-edge technologies:

Cutting-edge technology has a significant advantage over legacy technology because it presents instantaneous change, reducing execution risk and protecting brand reputation and customer loyalty. AI, machine learning, and other emerging technologies have opened several possibilities for financial businesses to provide services and products that enrich their customers’ global and multichannel experiences. For example, fintech companies have begun implementing chat boxes to improve the client experience by combining modern technology, such as AI and ML, for a unique personal touch, resulting in a favourable consumer reaction.

Delivering omnichannel experiences through innovative solutions:

Leaders at fintech firms are streamlining and unifying different channels with incompatible and distinct interfaces to simplify customer interaction, increase efficiency and reduce cost. Visionary leaders at fintech firms are harmonizing the client experience across all direct banking channels and simplifying their functional processes to provide dedicated customer service across several platforms, giving them a competitive advantage. This leads to innovative goods and services for their clients, enhanced productivity, and increased employee engagement across multiple channels.

Technological or digital leadership:

Digital leadership is rapidly being incorporated into fintech organizations, significantly transforming strategy and governance. An innovative leader concentrates on developing a disruptive invention, creating the ideal circumstances for employees to function at their best by cultivating new organizational cultures of transparent communication, real-time problem-solving, creative thinking, and customer-oriented implementation of business plans. These leaders concentrate on strategies with flexible management, for example, empowering smaller teams at a lower organizational level with decision-making responsibilities. Leaders that can blend this distinct leadership style with aspects of conventional leadership produce a competent and high-performing business strategy.

Personalized banking using APIs (Application Programming Interfaces):

For customized banking experience, fintech companies are increasingly implementing Application Programming Interfaces, or APIs, to develop tailored products and services for specific consumer groups. Global fintech breakthroughs have resulted in the emergence of API markets and app stores throughout the global financial ecosystem. Fintech companies are using app stores to craft mobile applications for their banking customers to enhance their financial lives. Many fintech companies also use corporate app stores that provide employees access to private banking, financial services, and third-party consumer apps.

Leading the shift from the top:

The financial business needs a new generation board of directors with the skills and foresight to welcome and incorporate new technology. To combat challenges and capitalize on the plethora of opportunities presented by advancing technology, a fintech company’s top leaders must acquire a diverse set of new skills. Organizations require leaders with competencies in evolving business strategies such as inventive thinking, the ability to promote values and develop trust, and entrepreneurship flair to fully use the possibilities of new technology and be flexible in adjusting to this fast-changing environment. To achieve a competitive edge in this corporate climate, leaders must be able to design successful strategies at all levels of the company.

Leaders with vision, the skill to recognize revenue sources, and favour emerging technology will be needed to successfully adapt to the disruptive transformations brought about by FinTech and capitalize on the opportunities. 

Leaders with vision, the skill to recognize revenue sources, and favour emerging technology will be required to adapt effectively and profit from the disruptive changes brought about by FinTech. The success of the leadership in the financial sector will ultimately be determined by the ability to drive revolutionary change.

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