Transforming Healthcare in UP in India, a State with a Population of 240M

A few years back, we, at State Street HCL (a State Street Corp and HCL Tech JV), were collaborating with Prof. Regina Barzilay at MIT on a project. Her story of Artificial Intelligence (AI) is personal. She was diagnosed with breast cancer in 2014. This was after her scans in 2012 and 2013 had missed a small but clearly visible white mass. Maybe, it was her training as a mathematician that she could not reconcile to the fact that there was so much uncertainty about the diagnosis. She started training her software using tens of thousands of mammograms and patient…

For many Indian financial institutions, ‘API Banking’ has taken away their ability to adapt and has increased the costs — but APIs were meant to do the opposite

Does any of this sound familiar to you?

• A Bank pays for eKYC product, but still must use another software for signature verification for a client transaction and cannot use the service from the KYC product

• A lender uses one software to read identity documents and another to read income documents like Bank Statements

• Insurance TPA uses a product to automate claims processing with hospital invoices, but the finance…

$900M error at Citi in a process with 6-eye checks shows that more controls do not solve all problems

A ‘maker’ sets up a payment, a ‘checker’ checks it and then an ‘approver’ approves it — all letting the same error slip through, resulting in creditors of a defaulting company, to their delight, getting back their money. Recipients refused to return the money and the judge has decided in their favour.

Those who haven’t been involved in financial services operations, wonder how can this happen? Those have been involved, remember all the instances when they escaped by the skin or their teeth!

At the heart of this lies the propensity of humans to make similar mistakes. I will explain…

A few weeks back, just after attending ABS East, one of the biggest gatherings of the structured finance industry, I did a LinkedIN post titled Making Blockchain Boring. I talked about a panel on Digital Securities where John Mizzi of Bond.One talked of ‘payment processing and record keeping solution for debt instruments’ as their offering while Marcus Austin of Citi added ‘so much data moving around so if you can prove provenance of data across all parties, that is what we are looking at’. …

Enhanced Liquidity and Reduced Risk in Securitisation to address the crisis with Non Banking Finance Companies (NBFCs) in India

Siddhartha and Gary Miller


“Securitisation market records 50% growth in Q1[i],” reads an Economic Times headline quoting an ICRA report. What is even more interesting is that the growth in Pass Through Certificates is 95% (Direct Assignments growing at 32%). This is on the back of a 100% growth in FY 19[ii], making India, arguably, the fastest growing securitisation market in the world.

Still, at a projected 200 Lakh Cr INR($29B), India’s securitisation market is one-eightieth (1/80) the size of the…

Siddhartha Siddhartha

Founder of and , background in financial services operations, working on building financial systems combining blockchain and AI

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