MAHE-SMI Design & FinTech Conference: PFRDA Chairperson Outlines AI Roadmap to Redesign NPS Onboarding
Bengaluru : Srishti Manipal Institute of Art, Design and Technology (SMI), a constituent unit of the Manipal Academy of Higher Education (MAHE), Institution of Eminence Deemed-to-be University, concluded a two-day international conference on design-led innovation for inclusive, secure and sustainable financial systems at the MAHE Bengaluru campus.
The conference, titled “Design-Led Innovation to Foster FinTech Ecosystem in Emerging Economies,” is jointly organised by the Department of Design-Led Innovation at SMI and Institution’s Innovation Council (IIC). It brought together policymakers, regulators, industry leaders, researchers, entrepreneurs, academicians and students to discuss financial inclusion, digital payments, AI-driven financial services, green fintech, entrepreneurship and innovation-led policymaking.
Delivering the inaugural address, S. Raman, Chairperson, Pension Fund Regulatory and Development Authority (PFRDA), announced that PFRDA is developing an AI-powered, explainable pension advisory platform to provide personalised financial guidance. He said the platform could eventually be expanded to insurance and securities, making trusted financial advice more accessible to citizens. Raman also announced that PFRDA is redesigning the National Pension System (NPS) onboarding process by simplifying enrolment and reducing choices at the entry stage. In addition, he said the regulator is promoting multilingual, AI-enabled financial assistance, enabling citizens to interact with advisory systems in their preferred languages. He further announced the upcoming launch of NPS Swasthya, a bundled pension and health insurance product designed to strengthen citizens’ financial and health security.
Highlighting the importance of responsible innovation, Raman said PFRDA is encouraging the use of explainable and responsible AI, ensuring that recommendations remain transparent and auditable to build public trust in digital financial services. He emphasised that technology must be complemented by human-centred design to make financial products simple, intuitive and accessible for all, particularly self-employed households, gig workers, street vendors and other underserved communities. He also called for greater collaboration among regulators, academia, designers and startups to develop simpler, more inclusive financial products and strengthen financial inclusion across the country.
Prof. Madhu Veeraraghavan, Pro Vice Chancellor, MAHE Bengaluru, observed that the next phase of India’s fintech journey must move beyond enabling transactions to strengthening long-term financial well-being. “The success of fintech should not be measured only by the speed of transactions but by its ability to improve financial security. India’s next frontier is helping every citizen save, invest and prepare for retirement with confidence. Achieving this requires design thinking, responsible AI and strong collaboration between academia, regulators and industry. That is precisely the conversation we sought to foster through this conference,”
Raghavendra Prabhu, Additional Registrar, MAHE Bengaluru, spoke on the importance of design-led innovation in keeping financial services accessible, secure and responsive to diverse user needs.
Speaking on the occasion, Arindam Das, Director, Srishti Manipal Institute of Art, Design and Technology, said the institute views design not merely as aesthetics but as a catalyst for societal impact. “Through this conference, we sought to explore how design-led innovation, entrepreneurship and critical design thinking can foster human-centred fintech solutions that are ethical, inclusive, resilient, trustworthy and sustainable, particularly in the age of Artificial Intelligence,” he said.
The conference also featured distinguished speakers from academia, industry and financial institutions, including Prof. M. H. Bala Subrahmanya (Indian Institute of Science, Bengaluru), Prof. Manish Arora (Banaras Hindu University), Priya Alagarsamy (Scotiabank, Toronto), Rishabbh Rishi (Tata Consultancy Services, Sydney), Shibu Sebastian (Canara Bank), Akshai Bapat (NSRCEL, IIM Bangalore), and Kuldeep Parashar (PensionBox). Their sessions explored themes ranging from fintech entrepreneurship and financial inclusion to explainable AI, retirement planning, fair-trade finance, governance, and innovation for emerging economies.
The conference concluded with a shared call for stronger collaboration among regulators, academia, designers, startups and industry to create financial systems that are not only technologically advanced but also ethical, inclusive and human-centred. By bringing together expertise across design, finance, technology and public policy, the conference reinforced MAHE Bengaluru’s commitment to fostering interdisciplinary innovation and shaping the next generation of trusted, accessible and sustainable financial ecosystems.
