Banking in the Age of Al: How Maveric Systems is Powering Transformation with GenAl & Digital Engineering

Kishan Sundar, SVP and Chief Technology Officer, Maveric Systems Limited, on the Future of AI in Banking, Compliance, and Transformation.

- By Minu Sirsalewala

Banks are at the forefront of digital transformation, but are they truly ahead of the curve, or are they still playing catch-up? While fintech startups disrupt the landscape with agility, traditional banks face challenges ranging from legacy systems, regulatory compliance, and Al-powered fraud detection to multi-cloud adoption and GenAI integration. The rise of agentic AI, predictive compliance, and embedded finance presents both an opportunity and a challenge. How should banks navigate this rapidly evolving ecosystem?

In this exclusive Dataquest Q&A with Minu Sirsalewala, Executive Editor, Dataquest, Kishan Sundar, SVP and Chief Technology Officer, Maveric Systems Limited, shares his insights on how banks are transforming, the key challenges in AI adoption, the role of RegTech in compliance, and why unlearning old mindsets is as critical as adopting new technologies.

Are banks genuinely transforming, or are they still struggling with legacy systems and compliance barriers?

Banks are transforming, but whether it's holistic or in bits and pieces depends on how they tackle legacy systems. Most Tier 1 and Tier 2 banks still carry massive technical debt—decades-old infrastructure and tribal knowledge embedded in code. This makes transformation slow, costly, and complex. However, we're now seeing a shift. Modern accelerators are helping banks extract legacy rules, automate migration, and optimize for cloud adoption. As a result, we see banks increasingly willing to sunset outdated applications and move to modern, flexible tech stacks.

What are the biggest internal roadblocks in banking transformation—tech limitations, mindset, or compliance?