Kiran Samudrala: An Illustrative Journey Across Data Analytics Domain
Kiran Samudrala
Chief Analytics & Data Officer
An excerpt of Kiran's interview with CEO Insights is given below.
How is Equifax positioned in the current market and what unique proposition does it offer? What are the current data trends it has been following?
Equifax is a global data, analytics and Technology company that helps people live their financial best. We do that by blending unique data, analytics and technology to create insights that power the world with knowledge to make more informed decisions.
With cutting-edge technology, Equifax is committed to solve financial industry challenges like New to cred it, Fraud, digital lending and employee verification. The company is dedicated to aggregate new alternate data sets to provide new insights to customers in coming years. Some of the unique
propositions are:(i) Protecting Your Business from Digital Identity Fraud, (ii) Ideas and Understand New Markets with a Unique Testing Ground (iii) Expanding Credit with Explainable AI, and(iv)Seeing the Value: Verified Employ ment and Income in Today's Lending Landscape.
In your professional journey so far, which are the major milestones that bestowed you with utmost satisfaction and why?
I've been very lucky as I've had a number of really proud moments in my career. Digital transformation journey (Moving from legacy platforms to Cloud platforms), Building Data and Analytics Center of Excellences from scratch across many organizations where I worked, Sun setting legacy tools, platforms and Automation are some of the biggest achievements in my career. In addition, I am strongly engaged with industry leaders on how best to develop practical applications and standards for Data, Analytics, ML Explainable AI, Ethical AI and Responsible AI. I believe Adoption of analytics is directly linked with the potential of value creation.
Secondly Hiring properly trained data and analytics professionals is essential to having a successful Data & Analytics function within an organization. When organizations are looking to build their Data and Analytics teams, I suggest that before assembling a team, you first stop, take a hard look at your organization and ask questions. What are you trying to accomplish with this team? What resources and strengths do you already have in place technology, expertise and executive sponsorship to support this team?
What opportunities are you currently witnessing in the market and according to that, what are your plans for the future?
I see four immediate key business opportunity areas for technology space in Financial. Let's start with Business Model Disruption. Accessing financial services through mobile devices has been increasing rapidly. Tech companies are leveraging the benefits of this opportunity to build digital solutions to bring disruption in the financial ecosystem. Nowadays, people are looking to get loans in minutes and apply for the same through their mobile phones. Mobile only lending, micro lending, Buy Now Pay Later are big watch out this year.
There is also a need to grow the capabili ties towards Data enabled insights driven, hyper personalized client engagement. Advanced technologies such as artificial intelligence and machine learning can provide efficiencies and insights that weren't possible before. For
As a champion of financial inclusion, Equifax is committed to helping people live their financial best
In your professional journey so far, which are the major milestones that bestowed you with utmost satisfaction and why?
I've been very lucky as I've had a number of really proud moments in my career. Digital transformation journey (Moving from legacy platforms to Cloud platforms), Building Data and Analytics Center of Excellences from scratch across many organizations where I worked, Sun setting legacy tools, platforms and Automation are some of the biggest achievements in my career. In addition, I am strongly engaged with industry leaders on how best to develop practical applications and standards for Data, Analytics, ML Explainable AI, Ethical AI and Responsible AI. I believe Adoption of analytics is directly linked with the potential of value creation.
Secondly Hiring properly trained data and analytics professionals is essential to having a successful Data & Analytics function within an organization. When organizations are looking to build their Data and Analytics teams, I suggest that before assembling a team, you first stop, take a hard look at your organization and ask questions. What are you trying to accomplish with this team? What resources and strengths do you already have in place technology, expertise and executive sponsorship to support this team?
What opportunities are you currently witnessing in the market and according to that, what are your plans for the future?
I see four immediate key business opportunity areas for technology space in Financial. Let's start with Business Model Disruption. Accessing financial services through mobile devices has been increasing rapidly. Tech companies are leveraging the benefits of this opportunity to build digital solutions to bring disruption in the financial ecosystem. Nowadays, people are looking to get loans in minutes and apply for the same through their mobile phones. Mobile only lending, micro lending, Buy Now Pay Later are big watch out this year.
There is also a need to grow the capabili ties towards Data enabled insights driven, hyper personalized client engagement. Advanced technologies such as artificial intelligence and machine learning can provide efficiencies and insights that weren't possible before. For
example, Artificial Intelligence (AI) can help organizations anticipate customers' needs and offer more personalized solutions and services.
When it comes to improving efficiency, Digital ugmentation/Digital Push from Service Providers will include digital onboarding of clients, digital only banking channels, paperless/ contact less authentication and support through conversational AI/chat bots.
Reimagining the Experience will take a long way as well.a remote connectivity model with better collaboration technology could be instrumental. The pandemic has permanently changed the way Banks/FIs interact with customers or investors. Moving forward the platforms or technology used by organizations need to be set for a remote first environment, with integrated video platforms and seamless live collaboration tools. It is no longer enough to just do video conferencing. Organizations will need to get proficient in advanced presentation techniques, annotation capabilities, and collaborating live on documents so they can gain a personal connection without physically being present.
Owing to your strong experiences in the analytics domain, what advice would you give to budding entre preneurs?
To be an entrepreneur, you need to have a concept or an idea that solves customer's problems and you have to believe in that idea. Don't look for immediate returns or instant results, be patient and wait for your time. embrace the new tools and technologies that are available in the world.
Cultivate the ability to operate business at different attitudes. The view from the top which I would equate with strategy gives you the big picture. But takeoff and landing are the most important aspects of a flight. If you can't take off or land, you will never get that view from the top. You will never realize that strategy. So you need to learn to fly at multiple altitudes. You have to roll up your sleeves, work with customers, understand their problems, work with your teams, understand the struggles they're going through, and help remove the roadblocks so they can bring to life the larger vision you're seeing from a higher altitude.
Kiran Samudrala, Chief Data & Analytics Officer, Equifax
Characterized as a thought leader, visionary, strategist and a tactician, Kiran is a focused Senior Executive with a strong Data, Analytics, Cloud and Digital background. He has a proven track record of leadership and delivery of the results within complex dynamic and regulated business.
When it comes to improving efficiency, Digital ugmentation/Digital Push from Service Providers will include digital onboarding of clients, digital only banking channels, paperless/ contact less authentication and support through conversational AI/chat bots.
Reimagining the Experience will take a long way as well.a remote connectivity model with better collaboration technology could be instrumental. The pandemic has permanently changed the way Banks/FIs interact with customers or investors. Moving forward the platforms or technology used by organizations need to be set for a remote first environment, with integrated video platforms and seamless live collaboration tools. It is no longer enough to just do video conferencing. Organizations will need to get proficient in advanced presentation techniques, annotation capabilities, and collaborating live on documents so they can gain a personal connection without physically being present.
Owing to your strong experiences in the analytics domain, what advice would you give to budding entre preneurs?
To be an entrepreneur, you need to have a concept or an idea that solves customer's problems and you have to believe in that idea. Don't look for immediate returns or instant results, be patient and wait for your time. embrace the new tools and technologies that are available in the world.
Cultivate the ability to operate business at different attitudes. The view from the top which I would equate with strategy gives you the big picture. But takeoff and landing are the most important aspects of a flight. If you can't take off or land, you will never get that view from the top. You will never realize that strategy. So you need to learn to fly at multiple altitudes. You have to roll up your sleeves, work with customers, understand their problems, work with your teams, understand the struggles they're going through, and help remove the roadblocks so they can bring to life the larger vision you're seeing from a higher altitude.
Kiran Samudrala, Chief Data & Analytics Officer, Equifax
Characterized as a thought leader, visionary, strategist and a tactician, Kiran is a focused Senior Executive with a strong Data, Analytics, Cloud and Digital background. He has a proven track record of leadership and delivery of the results within complex dynamic and regulated business.