AI is increasingly becoming part of banking and financial services, from credit assessment and fraud detection to customer service and compliance. However, industry leaders are now stressing that faster automation must be matched with stronger safeguards, transparency and human oversight.

Speaking at the Global Fintech Fest (GFF) 2026 in Mumbai, Krishnakumar K T, Managing Director of Oleevia Grameen Credits, called for a responsible and human-centric approach to AI adoption in financial services.

Krishnakumar was part of a panel discussion titled “AI Guardrails – Building Safe Financial AI Systems”, which also featured Sandeep Agarwal, CTO – Security, India & South Asia, Cisco; Vinay Kumar, Founder and CEO, Arya.ai; and Sudarshan R, Co-founder, Credit Mantri. The session was moderated by Manish Mimani, Founder and CEO, Protectt.ai.

“AI can automate decisions; but accountability cannot be automated,” Krishnakumar said.

He said financial institutions need strong AI guardrails to ensure that automated systems remain transparent, responsible and aligned with customer interests.

The Reserve Bank of India (RBI) has also been focusing on responsible AI adoption. Its FREE-AI Committee report, released in August 2025, was aimed at creating a framework for responsible and ethical use of AI in the financial sector. The RBI has highlighted concerns including algorithmic bias, explainability and data privacy.

Krishnakumar said financial institutions should not look at customers only through data points and algorithms. “AI may see customers as data, but as a banker, I see every customer as an important link in the economic growth of our country,” he said.

“When a bank understands an individual’s genuine financial needs and provides the right support, it not only improves that person’s quality of life but also contributes to the economic growth of the nation,” he added.

Krishnakumar also described banking as a broader responsibility of connecting surplus capital with people who need financial support. “As stated in the word of God, the principle that those who have should give to those who do not is also reflected in the fundamental duty of banking,” he said.

The focus on responsible AI comes as GFF 2026 places Agentic AI, tokenisation and quantum technologies at the centre of discussions around the future of finance. The event’s theme also stresses trusted, connected systems for inclusive finance.
RBI Governor Sanjay Malhotra has separately stressed that fintech firms must treat customer data as a fiduciary responsibility, reinforcing the growing focus on trust and responsible innovation in financial services.