Edelweiss Group Adopts Infrastructure for Cloud, API and Data

It has been almost a year since Nitin Agarwal is appointed as the new Group CIO of Edelweiss Financial Services. He has been getting involved with the top management of several business groups and is redesigning the technology to be easier and quicker.

The President and Group CIO, CTO and CDO of Edelweiss Financial Services, Nitin Agarwal says, “The conversations are not about why should we do digital. It’s always about how should we see our digital roadmap given the changes in consumer preferences.”

There is a constant change in customer preferences when it comes to technology which is why the enterprises have no choice but to make their platforms flexible enough so that they are able to welcome change. Nitin believes that technology being about projects is an idea that is no longer consider novel and thus the focus should be on delivering something new every week or fortnight rather than waiting for one or three or five year projects.

He further add on to state that Edelweiss is continuously endeavoring to go digital and thus is adopting new technologies like API infrastructure and cloud-native platforms across businesses.

Edelweiss has entered into enterprise agreements with big vendors in the cloud computing area. Apps are developed being cloud-native and not being cloud ready or cloud first, which makes it easy for the company to deliver quickly to the business requirements.

API adoption is a new initiative that is led by Agarwal. The infrastructure will be launched in the first quarter of the next calendar year. Agarwal states that the need of the hour is to work as an ecosystem. In this pursuit, Edelweiss has recently entered into partnerships with banks and work with various financial enterprises across broking, insurance and lending businessess. He also reports that Edelweiss is developing enterprise API gateway for seamless and secure information exchange.

He believes what is most suitable is having a small core system framework around microservices that communicate with a good data analytics platform with good API network. This is changeable on demand and there will be no impact on the ecosystem.

The technology teams, owing to the efforts taken on building a strong digital foundation, are being able to work easily and quickly. Agarwal mentions that 5,000 hours of training has been conducted in the previous 5 months only for the technology teams for several technologies.