Traditionally, the banking sector has been defined by stability, compliance, and measured change. But in the last decade, the rise of AI, open banking, and cloud-first strategies has reshaped expectations and demanded a new kind of leadership. At Axis Bank, that leader is Avinash Raghavendra, President – IT, whose transformative approach is turning the bank into a technology-first institution.
With over 20 years of experience across core banking, infrastructure, digital services, lending, and cybersecurity, Avinash brings a rare, panoramic view of banking technology. But his real strength lies in execution: architecting solutions that are bold in vision, yet grounded in resilience, ethics, and measurable outcomes.
Bringing the AI Revolution
At the heart of his strategy is AI, specifically generative AI. Under Avinash’s leadership, Axis Bank has created a dedicated AI unit that is embedding large language models (LLMs) into everything from customer engagement to internal operations. Whether it’s streamlining service through Axis AHA, an AI-powered interface, or deploying predictive analytics to flag potential fraud, the bank’s AI journey is real-time and results-orientated.
Avinash has ensured that this transformation is not just technological but responsible. He is a staunch advocate of ethical AI adoption, embedding strong cybersecurity protocols and governance frameworks to ensure that innovation never compromises trust. His leadership in this space has resulted in a holistic cybersecurity program with multi-layered defences, giving the bank a robust digital shield in a world of increasing threats.
One of his most forward-looking moves has been pushing the frontiers of quantum computing. Collaborating with Krishi, a government-backed non-profit, Axis Bank executed a proof of concept for using quantum computing in portfolio optimisation, a step that places the bank ahead of the curve in advanced financial modelling.
An Open Banking Edge
Equally transformative is Avinash’s push toward open banking. Recognising the growing importance of digital public infrastructure, Axis Bank now boasts over 330 APIs—powering seamless integrations with fintechs, third-party platforms, and public systems like UPI, Aadhaar, and the Account Aggregator framework. These APIs aren’t just technical tools; they’re the foundation of a digital ecosystem that brings agility, scale, and customer-centricity to the forefront.
What sets Avinash apart is how he balances innovation with operational excellence. While spearheading cutting-edge initiatives, he has also driven a cloud-first, microservices-based infrastructure overhaul. Axis Bank’s transition to a multi-cloud strategy enables compliance with data localisation laws, ensures resilience, and improves cost efficiency. His target: 75% of customer-facing applications hosted on the cloud.
Case in point: the Axis Mobile App, which now sees over 12 million monthly active users. This is a testament to how digital banking can deliver simplicity, speed, and personalisation at scale. Another
internal innovation, Siddhi, empowers sales and managerial teams with analytics-driven insights, enhancing effectiveness and decision-making.
Agility & Precision
His focus on agile delivery has also paid off, with Axis Bank reducing time-to-market by 40% for new product development. This has allowed the bank to stay competitive and responsive in a fast-evolving landscape. More importantly, it reflects a cultural shift toward rapid innovation backed by systems thinking.
What drives all this progress is Avinash’s clear leadership philosophy. He doesn’t view technology as a separate function but as a strategic enabler that must be deeply embedded into the business fabric. He believes in collaboration over control, building high-performing teams that are empowered to solve problems, take ownership, and pursue continuous learning.
His background—spanning infrastructure, risk management, mobile and cloud implementations, information security, and core banking—equips him to speak the languages of both engineers and executives. He understands how to modernise legacy systems without disruption, integrate new technologies without silos, and secure innovation without slowing it down.
That clarity has earned Axis Bank industry recognition as a digital-first financial institution. While Avinash has received multiple accolades for his work, he remains focused on what’s next: expanding the use of AI across more business domains, scaling open banking partnerships, exploring new quantum computing applications, and continuing to build secure, scalable infrastructure.
His strategic outlook is long-term. He believes the next wave of transformation will be defined not just by what technology can do but how responsibly and meaningfully it is applied. That means aligning every tech initiative with customer impact, business outcomes, and sustainable innovation.
