‘AI has Today Handed HR a Superpower Toolkit’: Gaurav Chopra

AI, ML, and HR analytics are total game-changers for payments banks—they can copy the playbook of fintechs to retain talent

Gaurav Chopra, Head HR Operations and Transformation, Paytm

In an exclusive interaction with CXO Media and APAC Media, Gaurav Chopra, Head HR Operations and Transformation, Paytm asserts that in the fast-evolving fintech landscape, payments banks are in a fierce battle for top digital talent. With tech-driven innovation at the core of financial services, attracting and retaining skilled professionals is no longer optional—it’s a competitive necessity.

What are the key trends in fintech talent demand within the payments banking sector?

The payments banking sector is buzzing right now—it is at the forefront of fintech’s evolution, and the talent demand shows it. One massive trend is the shift to digital-first banking. NASSCOM’s 2023 report—it’s from their annual industry analysis—pegs a 40% surge in demand for software engineers skilled in blockchain, cybersecurity, and digital payments infrastructure over the past two years. That is huge, and it is because digital transactions are everywhere now.

Then there is the regulatory push—the document mentions the RBI tightening digital banking rules, though it doesn’t cite a specific report. Still, it’s clear this is driving demand for risk management and AML experts; you can feel that urgency in the industry. On the tech side, AI and data science are exploding—LinkedIn’s 2023 Emerging Jobs Report, which you’d find on their workforce insights page, shows a 30% year-on-year jump in AI/ML job postings for fraud detection and credit risk assessment. It’s fascinating how these roles are shaping the future.

Cybersecurity is another biggie—PwC’s report, likely from their cybersecurity series, notes a 60% jump in hiring, tied to the boom in digital payments. Every transaction’s a risk, so banks are fortifying their defences. And don’t sleep on the customer side—McKinsey’s 2023 research, from their fintech trends paper, highlights a 25% year-on-year rise in demand for UX designers and product managers focused on seamless, embedded finance. Customers demand frictionless experiences, and banks are racing to deliver. It’s all fuelled by digital transformation, regulation, and tech adoption—payments banks are leading the charge, and talent’s the key.

What hiring models are most effective for attracting top fintech talent to payments banks?

Hiring in payments banks is a juggling act, and they’re using some smart models to snag talent. Full-time employment—FTE—is the bedrock for roles like cybersecurity and compliance, as the document points out, though it doesn’t tie it to a specific study. It’s just logical—those roles need stability. Then there’s the gig economy, which is taking off—an industry report in 2024 cites a 20% rise in demand for contract workers in data analytics, AI, and fraud detection, but no exact source is linked. I believe it was from industry surveys like those NASSCOM does, though you’d need to check their site for the report.

Hybrid and remote work are massive too—the document says 75% of fintech employees prefer hybrid setups, citing unspecified reports. That stat’s floating around in talent studies, maybe from LinkedIn or Glassdoor, and it’s spot-on—developers and data scientists love the flexibility. The big challenge is the supply-demand gap—FICCI’s estimate of a 2 million digital talent shortage in India by 2025 comes from their research, though no link’s provided; you’d find it on FICCI’s website under their skills reports. To tackle that, banks are upskilling staff and using AI recruitment—no hard data source there, but it’s a trend I’ve seen echoed in Deloitte’s fintech papers. It’s a mix of full-time for core roles, gig for agility, and hybrid for appeal—banks’ balance these to keep growing in a tight market.

What role does employer branding play in attracting fintech professionals to payments banks?

Employer branding is everything—it’s how payments banks shine in this talent war. Compensation’s a big draw—Glassdoor’s report, which you can dig up on their research hub, says fintech pros prioritize ESOPs and performance incentives over just salary. That’s what gets them excited. But it’s more than cash—a culture of innovation and learning is key, as the document notes without a specific source; it’s a common thread in fintech talks.

LinkedIn’s data—it’s from their employer branding stats—shows companies active there see a 35% higher application rate. That’s real impact from social media presence. Diversity’s huge too—Deloitte’s 2023 report, likely their diversity in tech study, notes a 40% rise in female fintech pros. You’d find that on Deloitte’s site, and it shows inclusive hiring widens your pool. Banks posting thought leadership—like showcasing AI projects—pull in curious talent; no hard stat, but it’s a tactic I’ve seen work. A strong brand says, ‘We’re cutting-edge, we value you, and we’ve got rewards.’ Payments banks nailing that are winning—Glassdoor, LinkedIn, and Deloitte’s numbers prove it.

How are AI, ML, and HR analytics being used to improve recruitment and retention in payments banks?

AI, ML, and HR analytics are total game-changers for payments banks—it’s like handing HR a superpower toolkit. In recruitment, AI’s speeding things up in ways that blow your mind. Think about platforms that scan thousands of resumes in seconds, picking out the perfect fits for a cybersecurity role or a data analyst gig. It’s not just faster—some say it cuts hiring time in half—it’s smarter, spotting patterns humans might miss, like a candidate’s hidden potential. Then there’s chatbots—imagine a bot chatting with applicants 24/7, answering questions, keeping them engaged. It’s like having a tireless recruiter who never sleeps, and it makes the process feel personal, not robotic.

Machine learning takes it deeper, especially for retention. Picture this: ML crunches data—hours worked, project feedback, even coffee break chats if you track that—and predicts who’s at risk of quitting. It’s almost spooky how accurate it can get, flagging discontent before someone’s even polished their LinkedIn. HR can swoop in with a promotion or a workload tweak, and bam—turnover drops. I’ve heard it can make a dent of 30% or more in people leaving, which is massive when talent’s so scarce.

Analytics ties it all together—think dashboards showing real-time insights. Are your developers happy? Is your compliance team stretched thin? It’s not guesswork anymore; it’s data telling you what’s up. Payments banks can use this to tailor perks—maybe remote days for one group, training for another. Speaking of training, AI’s big there too—personalized learning paths, like suggesting a fraud detection course for an analyst, keep people growing and satisfied. It’s not one-size-fits-all; it’s custom-fit to each person’s career.

How does the work-life balance perception in payments banks affect talent retention?

Work-life balance is a retention linchpin in payments banks—it’s make-or-break. 60% of employees face high stress and burnout and that’s a wake-up call; overwork drives people out and therefore this is a very cautious approach to be taken from a talent strategy perspective. But flexibility flips the script—a 20% retention boost from remote work and wellness programs, though it’s in line with PwC’s wellbeing reports. Wellness investments lift satisfaction by 15%—again, and echoes industry trends. If employees feel supported, they stay; if not, they’re gone. EY’s stat shows the risk, and the retention gains prove the fix—banks have to act on this.

What best practices from leading fintech employers can payments banks adopt?

Leading fintechs have really figured out some brilliant ways to attract and keep talent, and payments banks can absolutely borrow from that playbook. One of the standout practices is continuous learning—think about setting up platforms where employees can dive into new skills whenever they want. It’s not just about formal training; it’s giving people tools to explore things like AI coding or blockchain basics on their own terms. Fintechs do this because the industry moves so fast—if your team’s not learning, you’re falling behind. Payments banks could roll out something similar, maybe even gamify it with badges or rewards to keep it fun and engaging. It keeps people sharp and shows you’re invested in their growth, which is huge for loyalty.

Then there’s diversity—it’s a game-changer. I’ve heard some fintechs talk about how diverse teams spark better ideas, and it makes sense. When you’ve got people from different backgrounds tackling a problem—like designing a new payment app—you get solutions that resonate with more customers. Payments banks could lean into this by actively recruiting beyond the usual suspects, maybe targeting underrepresented groups or partnering with organizations that support women in tech. It’s not just feel-good; it’s a competitive edge. Plus, younger talent loves working somewhere that walks the diversity talk.

Recognition’s another big one. Fintechs often use things like stock options or wellness perks to make employees feel valued. Imagine a payments bank where every big win—like launching a fraud-proof system—comes with a bonus or a shout-out that actually means something. ESOPs are especially smart because they tie people to the bank’s future—when the company grows, they cash in too. Add in wellness stuff like mental health days or gym memberships, and you’re showing you care about the whole person, not just their output. That’s a retention booster right there.

The real magic is tying these together—learning keeps skills fresh, diversity fuels innovation, and rewards lock in commitment. Payments banks could even take a page from fintechs that host ‘innovation days’ where teams pitch wild ideas. It’s low-cost, high-impact, and builds a culture where people want to stay. The best fintechs don’t just hire talent; they create an ecosystem that makes leaving unthinkable. Payments banks can adapt that vibe—tailor it to their world of transactions and compliance—and watch their teams thrive.

What will be the next big disruptors in fintech talent management, and how can payments banks future-proof their strategies?

The future of fintech talent management is vivid—there are some big disruptors on the horizon that’ll shake things up. One that’s really exciting is generative AI taking over hiring. Picture this: AI doesn’t just screen resumes; it writes job ads, interviews candidates, and even predicts who’ll fit your culture—all in a fraction of the time. It’s not sci-fi; it’s coming fast, and payments banks need to be ready to plug into that. Another disruptor is cross-border hiring—why limit yourself to one country when talent’s global? With remote work already a thing, banks could snag a blockchain guru from Singapore or a data whiz from Berlin without blinking. It’s a way to dodge local shortages and build a dream team.

Upskilling’s the third big wave. The skills you need today—like mastering the next payment tech—won’t be the same in five years. Fintechs are already partnering with online learning platforms to keep their people ahead of the curve, and payments banks should jump on that train. Imagine giving your team access to courses on AI or cybersecurity, tailored to your needs—it’s like future-proofing your workforce from the inside out.

So how do payments banks get ready? For AI, it’s about investing now—start small with tools that automate sourcing, then scale up as the tech matures. It’ll save time and snag talent others miss. For global hiring, they’ve got to build a remote-friendly culture—think virtual onboarding that actually works and tools like Slack or Zoom that feel seamless. Time zones are a hassle, but the payoff’s worth it when you’ve got top-tier pros who’d never relocate. Upskilling’s simpler but just as critical—set up learning budgets or strike deals with ed-tech companies. Make it part of the job, not an add-on, so people see growth as a perk.

The key is agility—banks can’t sit still. These disruptors aren’t distant; they’re knocking on the door. Payments banks that lean in—embracing AI, going global, and keeping skills fresh—won’t just survive; they’ll lead. It’s about staying one step ahead in a game that’s only getting faster.

What policies and frameworks should payments banks implement to stay competitive in the digital talent war?

Staying competitive in the digital talent war is a huge challenge for payments banks, and it’s all about building a framework that’s smart, flexible, and forward-thinking. First off, you’ve got to have a data-driven approach to workforce planning. Imagine having a system that’s constantly analyzing your talent needs—figuring out who you need today, who you’ll need tomorrow, and spotting gaps before they become problems. It’s like having a crystal ball for HR, keeping you one step ahead in a market where everyone’s scrambling for the same developers, data scientists, and compliance experts. That kind of proactive planning is pure gold because it stops you from reacting in panic mode when a key role opens up.

Then there’s flexibility—honestly, it’s non-negotiable at this point. Hybrid and remote work setups aren’t just nice-to-haves anymore; they’re what top talent expects. People want to work where they can balance their lives, especially in a high-pressure field like fintech where burnout’s always lurking. Payments banks that lock into rigid, office-only policies are going to lose out—talent will just walk to the next offer that gives them freedom. Offering that flexibility signals trust, and it pulls in the kind of self-starters who thrive in digital roles—think coders who crank out blockchain solutions at midnight or analysts who dig into fraud patterns over coffee at home. It’s about creating an environment where productivity isn’t tied to a desk.

Compensation’s another massive piece—payments banks have to bring their A-game here. Competitive pay is table stakes, but it’s the extras that seal the deal. Performance-based bonuses keep people motivated, especially when they see their work directly tied to rewards. And ESOPs—employee stock options—are a genius move. They give talent a stake in the game, a reason to stick around and push the bank’s success, because when the company wins, they win too. It’s a loyalty booster that’s tough to beat, especially for ambitious pros who want to build something big.

Finally, diversity and inclusion have to be baked into the framework. It’s not just about optics—it’s about winning. A diverse team brings different ideas to the table, and in a space as fast-moving as payments banking, you need that creativity to stay ahead. Think about it: a mix of perspectives can spark the next big payment innovation or spot risks others miss. Banks that prioritize this—hiring across genders, backgrounds, and experiences—build a richer talent pool and a stronger culture. Plus, it’s a magnet for younger professionals who care about working somewhere that reflects their values.

Put it all together—data keeping you sharp, flexibility attracting the best, rewards locking them in, and inclusion fuelling innovation—and you’ve got a framework that doesn’t just compete; it dominates. Payments banks have to play offense in this talent war, because the second you slack, someone else is poaching your stars.

Sugandh Bahl Vij, APAC Media